PE firms invested in 2,306 middle market deals in 2017, totaling $324.1 billion. Overall, deal flow remains flat, exits are declining, and fundraising continues to rise—all trends that mirror private equity as a whole, which is unsurprising given that most PE activity takes place in the middle market.
Our 2017 Annual US PE Middle Market Report takes a deep dive into the data on funds, secondary buyouts, add-ons and more, including insight on factors likely to affect the middle market in the coming months. The full report is available to download for free, but for a quick look at the highlights, check out these 12 key charts.
US PE middle-market activity remains robust
MM activity finished the year on a strong note
Purchase-price multiples remain elevated
Deal sizes continue to grow
Add-ons remain popular throughout the middle market
Exits continue to decline YoY
MM accounts for half of PE capital exited
4Q exit count fell to a four-year low
Fundraising totals decline despite uptick in fund sizes
Small funds continue to fall from favor
4Q ends year on a strong quarter, with $41B raised by middle market funds
Capital flows remain concentrated in large vehicles