PE Recruiting

What is going on in PE recruiting? Is the talent identification process broken or have I just been unlucky? I’m a top analyst at a top EB in the top group at the firm and currently a second year. Most of my class are going to top PE shops. I consistently get emails from HH’s and only respond when it’s something actually interesting. Recently, most emails are for LMM $1B funds and occasionally something bigger. I get interviews at ~10% of firms I submit my resume to. The issue with my resume is I’m a non-target (but have great student org experience + finance/accounting/econ) and haven’t closed any deals (but have worked on multiple large deals that got cancelled in late stages). I’ve gotten two verbal offers, one MM from on-cycle and one LMM, but both came with last second re-trades on location/start date, etc. and I got cold feet so walked away from both. I’m above average in my class in terms of modeling and have never gotten dinged from a modeling interview. I’m also not awkward to talk to, although my social skills have definitely diminished over the last 2yrs in IB. What am I doing wrong? Do I just need to wait until I close a big deal? Do I need to start networking instead of just waiting for HH? I don’t have school alumni to serve up an offer on a silver platter for me. Is the hiring market so bad that I should just stay in IB another year? Do I need to ask my senior bankers to refer me? I’m also genuinely interested in investing and not just doing it for money/exit ops. Feel like the system is broken and I’m very frustrated.
EDIT: 10% is probably a bit conservative. Probably more like 25%, but feels like less because most opportunities I see aren’t interesting to me.