Highly recommend the above report. Bain & Co sees the most deal flow by a good margin (amongst firms providing buy-side DD services), and so has a tight pulse on the industry.

The overarching question of the article (how long the PE cycle will last) is an interesting one, and I think it depends on how one defines the PE market (fundraising, deployment, or returns). Given continued appetite for private equity exposure by LPs, and the still-meaningful overhang of dry powder, it feels possible that PE fundraising and deal activity could remain robust even through a macroeconomic cycle in which industry returns deteriorate.