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US PE Middle Market Report

Q2 2024

US PE Middle Market Report

September 13, 2024

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Middle-market deals spark a revival in private equity

Our latest US PE Middle Market Report highlights that buyout dealmaking has gained traction in the first half of 2024, with middle-market deal value rising 12%, versus about 5% for the broader PE market.  

The report also covers a change in key PE metrics that bodes well for better times ahead. After a historic rally, small-cap public equities have closed the gap on large-cap companies, and deal multiples for middle-market companies are on the rebound. 


Table of contents
Executive summary 3
Deals 5
Overview 6
Deal valuation metrics 7
Deals by size and sector 12
Spotlight: The state of enterprise SaaS M&A 13
Exits 15
Fundraising and performance 20