### Comment:
&gt; There is over 1.2T in dry powder right now 
  
 what do you mean by this?

### REPLY:
In private equity there is over 1.2T in committed capital that hasn’t been deployed (invested). McKinsey estimates it may reach as high as 1.8T this year. Meaning there are a lot of people who have committed money to funds and the funds haven’t been able to invest all of it, which can drive down returns as funds compete on pricing.

### END.