Funds raised during periods of economic distress have often outperformed those raised during peak market conditions, as they can take advantage of lower valuations and reduced competition for deals. This counter-cyclical pattern highlights the importance of timing in private equity investing and demonstrates why some investors actively increase their allocations during market downturns. A good example of a private equity firm is Clayton, Dubilier & Rice, which is known for its operational approach to private equity and has a strong track record in industrial and consumer businesses. They would be included in any top private equity firms list.