Total private equity dry powder (commitments yet to be invested) hit a record $1.074 trillion as of Dec. 17. The figure eclipses the previous mark of $1.067 trillion, seen at the end of 2008. Global dry powder has grown 14% since the end of 2012.

By fund type, private equity real estate dry powder grew by 18.6%, followed by distressed (13.8%), buyout (12.1%) and mezzanine (10.3%).