If you believe about this on a supply & demand basis, the supply of capital has actually increased considerably. The implication from this is that there's a lot of sitting with the private equity companies. Dry powder is essentially the cash that the private equity funds have actually raised however have not invested yet.

It does not look helpful for the private equity companies to charge the LPs their expensive costs if the cash is simply being in the bank. Business are becoming…

If you think of this on a supply & demand basis, the supply of capital has actually increased substantially. The ramification from this is that there's a lot of sitting with the private equity companies. Dry powder is generally the money that the private equity funds have raised however haven't invested yet.

It doesn't look great for the private equity companies to charge the LPs their inflated fees if the money is just sitting in the bank. Companies are ending up being much more…

If you think of this on a supply & demand basis, the supply of capital has increased considerably. The implication from this is that there's a great deal of sitting with the private equity companies. Dry powder is essentially the cash that the private equity funds have actually raised however haven't invested yet.

It doesn't look helpful for the private equity companies to charge the LPs their expensive charges if the money is just being in the bank. Business are becoming much…