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US PE Middle Market Report

Q3 2022

US PE Middle Market Report

December 14, 2022

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Bigger isn’t always better when it comes to private equity funds 

PE giants’ mega-buyouts dominated the market over the past few years, pushing middle-market funds into the backseat. But this dynamic could shift in the future as take-privates take aim at smaller companies. 

In our Q3 2022 US PE Middle Market Report, sponsored by Antares Capital and LBMC, we show how dealmaking could shift to the middle markets as mega-buyouts of over $1 billion become increasingly difficult to finance. The report also explores opportunities and risks in this market segment.

Table of contents
Executive summary 4
Deals 5
A word from Antares Capital 10
Spotlight: Healthcare services report 12
Exits 15
A word from LBMC 19
Fundraising and performance 21
Q3 2022 US PE middle market lending league tables 26