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  "documentTitle": "Global Private Equity Report 2016",
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      "text": "Average ratio of final capital raised to target capital sought for global buyout funds closed 2009-15, by size of fund and performance quartile of predecessor fund (bars)",
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      "text": "Average number of months to close for global buyout funds closed 2009-15, by performance quartile of predecessor fund (line)",
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      "text": "<$0.5B | $0.5-1B | $1-3B | $3-5B | >$5B | -- Capital target",
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      "text": "LPs still see a lot to like in smaller PE funds. That fund-size ceiling helps explain why small PE funds have continued to garner a large proportion of new funds raised globally in recent years.",
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      "text": "The primacy of strategy. As LPs survey the global macroeconomic landscape, their high expectations for PE will likely be put to a severe test.",
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      "text": "Notes: Data effective December 21, 2015; predecessor fund is defined as a fund with the same manager and geographic focus with vintage year at least five years older than the fund at the date of close. Source: Preqin",
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      "text": "Figure 2.4: Top funds win easier and faster access to capital; large funds benefit from marketing and operational scale to exceed their fund-raising targets",
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