Interested in sponsoring future editions of this report? Visit our media partnerships page to learn more.
Out of the shadows: PE manages to sustain deal activity
Middle-market dealmaking continued to show YoY growth in Q1 despite plateauing from a burst of activity late last year, our latest US PE Middle Market Breakdown shows. Factors including the recovery of deal multiples, improved borrowing costs, and a continued focus on selling the best assets first have characterized the middle-market dealmaking so far.
While below their historical average, middle-market funds continue to outperform megafunds with a one-year horizon return of 12.7% compared to the latter’s 7.6%.
Table of contents
| Executive summary | 4 |
| Deals | 6 |
| A word from Cherry Bekaert and Choreo | 12 |
| Deals by size and sector | 14 |
| Spotlight: PE Goes After Middle-Market Fintechs | 15 |
| Exits | 17 |
| Fundraising and performance | 22 |
| Q1 2024 US PE middle-market lending league tables | 26 |