Last year, private equity hit an all-time fundraising record. The influx of cash has driven up valuations, and now some are concerned whether these illiquid assets can maintain their historic returns. Where are we in the current cycle? How is private equity responding to risks in an environment where multiples are stretched in both private and public markets? In which sectors do private equity firms expect to find the best pockets of opportunity to generate maximum returns? How are PE firms responding to oversubscribed funds?