<p>Private equity managers and investors this year were focused on high entry prices for assets and how these could affect future returns, according the Preqin, the alternatives data provider.</p> <p>Forty-eight percent of fund managers polled at midyear said pricing was the biggest challenge they faced in the next 12 months, and two-thirds of investors said high valuations were their top concern in operating an effective private equity program. At the same time, distributions continued to drive private equity investor satisfaction and activity, Preqin reported. In 2015, a record $443 billion was distributed from private equity vehicles, compared with $226 billion in capital calls.</p>