<p class="story-body-text story-content" data-para-count="483" data-total-count="1401" id="story-continues-3" style="line-height: 20.8px;">“The macro today is just terrible if you’re a seller,” Donald J. Gogel, the chairman and chief executive of Clayton Dubilier & Rice, said during a panel discussion on Tuesday. “But as private equity investors, we’re both buyers and sellers. We’ve just come off of five extraordinary years last year in terms of where the private equity industry returned some $900 billion of proceeds back to investors. It’s very churlish to complain about exits constrained in 2016.”</p>