Private equity used to be more generalist. Funds would raise capital, define a broad mandate—“middle market buyouts,” “growth equity,” “platform investments”—and pursue opportunities across multiple industries. That world still exists. But something meaningful has shifted …
If you’ve spent any time around private equity, you’ve heard the phrase “dry powder.” It sounds harmless. It’s not. Dry powder refers to committed capital that private equity firms have raised but not yet deployed. …
Private equity used to feel regional. You knew the firms in your geography. You knew the bankers. You knew the buyers circling your industry. That’s no longer the case. Today, private equity capital moves globally. …
Private equity does not operate in a vacuum. It operates inside the broader economy. Interest rates rise. Inflation accelerates. Credit markets tighten. Equity markets rally or retreat. All of these forces influence how private equity …
Private equity deal volume doesn’t move in a straight line. It moves in cycles. Boom periods are followed by pullbacks. Capital floods into the market, then pauses. Valuations expand, compress, and expand again. If you’re …
If you’re a founder who has built a company from scratch, you’ve likely noticed something over the past decade. Private equity firms aren’t just chasing large corporate carve-outs anymore. They’re calling founders directly. Lower middle …
Over the past decade, one of the most significant shifts in the lower middle market has been the rise of independent sponsors. If you’re a founder building a company in the $3–$20 million EBITDA range, …
When multiple private equity firms express interest in acquiring your company, it feels like the ideal position to be in. Competitive tension.Leverage.Optionality. And while all of those are advantages, they also introduce complexity. The biggest …
Earnouts are one of the most misunderstood components of private equity deals. On paper, they look simple: hit certain performance targets, receive additional compensation. In practice, they are nuanced, risk-sensitive, and deeply influenced by post-close …
When you sell to private equity, your board stops being symbolic. It becomes operational. For many founder-led companies, the board before a transaction is informal, advisory, or lightly engaged. After a PE deal, governance becomes …