Middle Market Definition: A Comprehensive Guide for Finance Practitioners

While there’s 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 … Read more

Private Equity DPI: The Liquidity Metric That Matters in 2025

Private Equity DPI: The Liquidity Metric That Matters in 2025

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: Complete Guide for Middle Market Deals

Let’s be real: learning how to build an LBO model isn’t just “nice to have” if you’re working in private equity, investment banking, or corporate finance— it’s absolutely essential. In middle market deals, which is where most buyouts actually take place, mastering leveraged buyout models can literally make or break your analysis. This comprehensive guide … Read more

Private Equity Salary 2025: Complete Compensation Guide by Level

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

Private equity pay in 2025 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 2025 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.