Private equity firms are now managing more money than ever before. The strong fundraising and rising returns have helped push the industry’s assets under management over the $4.1tn mark last year, according to data provider Preqin.

“Private equity’s enormous expansion seems to be accelerating. The industry is on course to add almost a trillion dollars a year for the next five years, an astonishing rate of growth,” says Christopher Beales, executive editor of Preqin’s 2020 Global Private Equity and Venture Capital report.