With sky high valuations and massive inflows, is there a private equity bubble? That is the question Fortune posed to an industry insider – Antoine Dréan – the question and the answer is a no, that there is no private equity bubble.

Dream is currently involved in  Palico, a digital marketplace that streamlines fundraising and secondary trading in the PE market.

DRÉAN: My sense there is that private equity is only at the beginning. You may hear people saying that this is a bubble, that there’s too much money, that there’s never been this much dry powder, but I’ve been hearing this same story for the last 15 years.