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  "notes": "The chart illustrates how GPs are actively managing exit channels to clear older investments.",
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      "text": "Pre-2001 | 2001-2005 | 2006-2010 | 2011-2015",
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      "text": "investments owned for less than three years helped to bring the amount of time that GPs held on to assets closer to the five-year goal for buyouts. Quick flips of assets held for three years or less edged up to 20% of all exits last year.",
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      "text": "The hard lessons learned since the recent downturn and the increasing sophistication of exit management skills that PE funds are applying to their soon-to-be-sold portfolio companies have changed how GPs think about exit channels.",
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      "text": "These gains were not simply the passive result of PE funds aging out of the problem of long-held unrealized assets by waiting for exit channels to open up. GPs actively cultivated this success by taking steps that maximized both their exit options and realized returns.",
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      "text": "Note: Exits exclude partial exits. Source: Preqin",
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