PitchBook has published its 4Q 2012 Private Equity Breakdown. According to the report, private equity deal flow and capital invested both fell by about 10% in 3Q 2012, marking the third straight quarter of declines in deal-making. Firms invested just $59 billion in 362 deals during 3Q, and 2012 is now on pace to be the slowest year for private equity investment since 2009. It's not all doom and gloom, however, as firms closed 28 funds with $35 billion in capital commitments, the third best total in the last three years. Exit activity continued to be a bright spot as well, with 143 transactions closing during 3Q.