Chart of the week: Where does the dry powder come from?

Dry powder totaled $535 billion as of June 30, 2014 in the United States, and more than a quarter of it (28 percent) comes from vintage-2014 funds, according to PitchBook Data Inc. Add in leverage and we’re talking about well over a trillion dollars in spending power. It’s a great time to raise money. But will it prove to be a case of too much money chasing too few deals?

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