While there remain some concerns about possible pressures building in the private equity space, the research organization said funds are deploying capital as fast as they are taking it in.

Private equity fund managers’ money-raising roadshows appear to be taking a more frenetic turn, with firms returning to market at a faster pace, possibly confirming that they are trying to cash in on the hunger for the asset class before any downtrend kicks in.

Data from Preqin, the research organization tracking the sector, said that the average time between fund closures has shrunk by 10 months from 2013, although it is still higher than the crisis year of 2008. The median share of called-up capital in predecessor funds at the time when successor funds have closed remains relatively steady, not falling below 80 per cent.

These comments come at a time when the private equity sector has boomed on its ability – thus far – to deliver double-digit returns, beating yields from conventional public markets in equities and bonds amidst low global interest rates. Globally, there is about $1.2 trillion of dry powder, the industry term for money raised, and this is causing some commentators to fret that the sector could be vulnerable to an economic slowdown.

“There has been much debate over whether or not we are in a bubble. Record-breaking fundraising, rising dry powder and quicker fundraising cycles have led some to suggest that fund managers are stockpiling capital,” Christopher Elvin, head of private equity at Preqin, said in a note about the data.

The ratio of dry capital to capital that is called has remained below 3.0 since 2015 and below the peak of 3.9 of 2010.

“Fund managers are certainly taking in more capital than ever before, but they are also deploying it at a commensurate rate,” Elvin added.