Investors should expect distributions from their private equity managers to “drop significantly” over the coming years as the boom in exits cools, according to a report from consultancy Bain & Co.

Investors have received a whopping $650 billion of capital back from their private equity managers during the past five year and paid out only $300 billion in capital calls to private equity managers since 2011, according to the Bain & Co Global Private Equity Report released on February 22.