That sound of thundering hooves? No, it is not the cavalry. It is the march of the megafunds, trampling everything in their path as they raise vast amounts of capital, deploy it again and return to market for another round — and all at unprecedented speeds. "LPs will say: 'We’ll invest with the houses we know, because we’ve already done all our operational due diligence'," said Goodwin Private Equity partner Ajay Pathak. “The larger LPs’ own due diligence requirements have increased over the years and the regulatory environment in which fund managers operate is always increasing. And the combination of those two factors means the cost of doing business has gone up, which is detrimental to smaller and first-time fund managers.” Read the The Deal article here.