Fundraising Gap

With some of the craziness of the last couple years and massive tech buyout shops aside what used to be the standard time between fundraises? My understanding is somewhere to the tune of 2-3 years to put $ to work and a 5-7 year hold is standard. I know you typically need to be 70%+ deployed to start raising your next fund.

With that in mind how would one think about a fundraising gap that is greater than 2-3 years (think 5+). There is a current fund but the previous was a while ago - is that a red flag or more common in the industry?

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