{
  "docId": "019dd923-5ca1-7489-b635-f31a406868d6",
  "docSlug": "ad48a7aff8040249",
  "documentTitle": "Global Private Equity Report 2016",
  "authorId": "Bain",
  "authorName": "Bain",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "portrait",
  "aspectRatio": 0.773,
  "pageNumber": 44,
  "pageCount": 72,
  "prevPage": 43,
  "nextPage": 45,
  "slideType": "industry_trends",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 35,
  "notes": "The chart illustrates the composition of private equity fundraising by fund size categories over a seven-year period.",
  "elementsJson": [
    "headline_text",
    "bar_chart_100pct",
    "paragraph",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5ca1-7489-b635-f31a406868d6/44",
  "deckHref": "/decks/019dd923-5ca1-7489-b635-f31a406868d6",
  "deckJsonHref": "/decks/019dd923-5ca1-7489-b635-f31a406868d6.json",
  "deckAnchorHref": "/decks/019dd923-5ca1-7489-b635-f31a406868d6#slide-44",
  "components": [
    {
      "bbox": {
        "h": 0.26,
        "w": 0.764,
        "x": 0.118,
        "y": 0.185
      },
      "kind": "chart",
      "text": "Number of global buyout funds raised, categorized by fund size in year of final close",
      "attrs": null,
      "subkind": "bar-stacked-100pct",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b931dfb2-ba7d-4e2c-8b1a-fe13fdf2f6a0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.31,
        "x": 0.345,
        "y": 0.445
      },
      "kind": "legend",
      "text": "<$0.5B $0.5-1B $1-3B $3-5B >$5B",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8d6c8bfb-9e65-4adb-8dea-9ee170fffa60",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Number of global buyout funds: 178",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd951-b48d-72e7-ba6b-009e3fb3b616",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.764,
        "x": 0.118,
        "y": 0.585
      },
      "kind": "paragraph",
      "text": "A tighter balance between GPs' supply of new funds and LPs' demand will continue to favor the largest and best-performing GPs. Large GPs that have a less impressive track record and mid-market PE firms hoping to grow to megafund status will encounter more resistance from LPs when the current excess of capital subsides. They will no longer be able to siphon off some of the spillover LPs have been willing to send their way, as they currently are doing. Sponsors of smaller and mid-market funds that have underperformed in the past may still be able to garner some capital, but they will be at a distinct disadvantage compared with their more sharply focused peers as fund-raising conditions slightly soften.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "457c180b-b9b4-4c7e-aaa0-9310fba0baa0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.764,
        "x": 0.118,
        "y": 0.53
      },
      "kind": "paragraph",
      "text": "receive will drop significantly. As LPs' allocations to PE begin to stabilize, the industry will reach a new normal of positive cash flow, with the ratio of distributions to contributions well below their peak of recent years.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7d385b49-8615-41d4-8f83-b50a7c5f44e1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.09,
        "w": 0.764,
        "x": 0.118,
        "y": 0.855
      },
      "kind": "paragraph",
      "text": "The fundamentals of a good strategy cannot be put in place overnight. GPs need to begin today and commit themselves to continually refining their strategy as a crucial part of doing business. Sound strategy begins with senior members clearly articulating their ambitions for sustained wealth creation (see Figure 2.6). It is, in essence, a statement of the character of the firm, aligned with its broader team of investment professionals and shared with its investors. Not a mere overlay of committee-generated objectives, a firm's ambition is the capstone of its",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "82f023c2-c335-4c5d-a834-2d4c942ba3b8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.11,
        "w": 0.764,
        "x": 0.118,
        "y": 0.74
      },
      "kind": "paragraph",
      "text": "A past history of success will always be crucial, but the ability of GPs to clearly communicate how their investment approach differentiates them from their peers has become table stakes for winning investor confidence and financial backing. Indeed, a sound, differentiated strategy is increasingly viewed as the platform on which successful and durable future performance can be built. It will be the centerpiece of the once-in-a-generation transition that many PE firms are now wrestling with as they set their sights on rising to the industry's top tier.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c3a32199-6f74-4c4e-a472-684bd1fbf491",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.764,
        "x": 0.118,
        "y": 0.125
      },
      "kind": "title",
      "text": "Figure 2.5: Smaller funds continue to make up a significant portion of funds raised globally each year",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "efdcf973-cf25-4d02-afe8-3215359d6df6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [
    {
      "metricRaw": "Number of global buyout funds",
      "numberRaw": "178",
      "numberKind": "plain",
      "actionTitle": "Smaller funds continue to make up a significant portion of funds raised globally each year",
      "calloutText": null,
      "numberScale": null,
      "numberValue": 178,
      "metricFamily": "volume_count",
      "numberCurrency": null
    }
  ],
  "tools": [
    {
      "name": "Action Titles",
      "slug": "action-titles",
      "agent": "Architect",
      "layer": "slide",
      "matchId": "019dd95a-173e-703c-8769-97145607b210",
      "evidence": "Action title acknowledges smaller funds remain a meaningful share.",
      "confidence": 75
    },
    {
      "name": "Chartjunk Elimination",
      "slug": "chartjunk-elimination",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "72614747-bb30-4328-b72f-ed07dc69d68f",
      "evidence": "chart/bar-stacked-100pct: Number of global buyout funds raised, categorized by fund size in year of final close",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 44,
      "from": 39,
      "beatId": "019dd95a-07a5-761b-9143-9134c65d023e",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Implications (So What)",
      "beatSlug": "triple-take-the-implications-so-what",
      "evidence": "'PE firms face a mandate to differentiate' — haves vs have-nots, top funds pulling away.",
      "position": 2,
      "confidence": 85,
      "parentBeatName": "Reflection",
      "parentBeatSlug": "reflection"
    },
    {
      "to": 58,
      "from": 39,
      "beatId": "019dd95a-07a5-761b-9143-a09dd459aa75",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Solution & Approach",
      "beatSlug": "consultants-gambit-solution-approach",
      "evidence": "Mandate to differentiate via sweet-spot, thematic investing.",
      "position": 3,
      "confidence": 70,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [
    {
      "to": 44,
      "from": 39,
      "name": "Benchmark Gap",
      "slug": "39-benchmark-gap",
      "bestFor": "Performance improvement, competitive analysis, target setting",
      "matchId": "019dd95a-088c-724c-b312-6387c08942db",
      "evidence": "Callout about 'chasm between big well-performing GPs (haves) and less prominent GPs'; charts on top funds exceeding targets.",
      "position": 5,
      "objective": "Open the gap between top-quartile haves and have-not GPs",
      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
      "confidence": 85,
      "description": "Compare performance against best-in-class to quantify the opportunity"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}