Middle Market Definition: A Comprehensive Guide for Finance Practitioners

While there’s no single definition for middle-market companies that everyone agrees on, we’re generally talking about privately held U.S. operating businesses pulling in ~$10M–$1B in revenue per PitchBook. In dealmaking terms, most private-equity transactions in this segment fall around ~$25M–$1B in enterprise value (EV). Note ranges can vary by industry and region; use revenue for operational scale … Read more

Private Equity DPI: The Liquidity Metric That Matters in 2026

Decision matrix comparing GP-led secondaries, NAV facilities, and partial exits across objective, DPI impact, risks, governance, and best use cases.

Summary Summary — DPI That Pays (Not Just Paper) Start: 60-sec primer — DPI vs TVPI vs RVPI (net of fees) + one mini example. Quantify the gap — compute ADR / distribution yield and DPI Pace (DPIP); show why cash ≠ marks. Frame “The Great Elongation” — exited holds vs current portfolio age; explain … Read more

How to Build an LBO Model: Step-by-Step Guide (2026)

LBO model 2026 step-by-step middle-market guide

Download the UpLevered LBO Model (Excel) Enter your email to unlock the template instantly. Your LBO template is ready. If the download doesn’t start, open the link in a new tab. No spam. Unsubscribe anytime. Let’s be real: learning how to build an LBO model isn’t just “nice to have” if you’re working in private … Read more

Private Equity Salary 2026: Fund Size Data + Carry Calculator

Private equity 2025 pay ladder showing analyst-to-MD cash ranges and earliest carry timing (carry begins at VP).

Private equity pay in 2026 is still elite, but the mix (base + bonus + carry) and the MM vs. mega‑fund split matter more than any one number you’ve seen on forums. Below you’ll get 2026 ranges by level, how bonuses actually hit, and a dead‑simple way to estimate carry, plus why a faster promotion … Read more

Private Equity Value-Creation Levers Explained

Diagram showing the 3 private equity value creation levers: operational improvements, multiple expansion, and leverage, driving private equity value.

Private equity firms generate returns through operational improvements, multiple expansion, and leverage. Learn how these three levers work together to drive value.