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Private Equity held its own during 2012 in a volatile year for the world economy. Funding for the industry was up slightly, while the number of actual deals dropped a bit below 2011 levels and exits were down. With merger and acquisition activity down, there were fewer assets available. To gain more insight into how private equity performed last year, Knowledge@Wharton spoke in this podcast with Philip Bass, global private equity markets leader at EY, and Pavel G. Savor, a Wharton Finance professor.