Mega-Fund vs. Middle-Market Private Equity Careers: A 2025 Guide to Where 80% of Deals Actually Happen

Illustration comparing middle-market vs. mega-fund private equity, showing the majority of deal-flow arrows pointing towards the smaller middle-market firm, representing where most middle-market private equity careers is where most deals happen

77% of U.S. buyouts in Q1 2025, or nearly 8 out of 10 deals, happened in the middle market, and ~70% were below $500M in enterprise value per PitchBook’s latest data. This stat blows up the “mega-fund or bust” myth that resonates through the deep, dark Wall Street Oasis forums, and points to middle-market private … Read more