The direct investment industry has shown significant momentum in the past few months, and fundraising hit a new record in August, data show. "It's been almost like a perfect storm, the past 12 to 18 months for the industry," said Kevin Hogan, the IPA's president. In addition, the first half of 2013 featured liquidity events worth $11 billion; in comparison, there were $3.6 billion worth of liquidity events in the second half of last year.

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