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
Understanding enterprise value vs equity value separates competent analysts from those who fumble through deal discussions. These two fundamental valuation metrics measure different aspects of company value, yet confusion between them derails countless investment committee presentations and M&A negotiations. Enterprise Value (EV) captures the value of a company’s core operations available to all capital providers. … Read more
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
The investment banking vs private equity debate often misses a crucial point: middle market private equity isn’t some consolation prize you settle for after striking out on-cycle—it’s a distinct, hands-on career path that’ll give you faster responsibility and earlier operational exposure than most finance professionals realize. While the traditional narrative frames private equity as the … Read more
Middle-market and lower-middle-market private equity interview questions reward precision under pressure. Most guides are written for mega-fund scenarios; this one is built for MM/LMM roles where you actually touch the model and the company. Inside: battle-tested frameworks, mini-formulas, and mental-math drills to practice aloud (just make sure to keep your answers under two minutes). TL;DR … Read more
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
Anyone can learn to link cells in Excel. That’s the price of admission. The real differentiator, or what separates a top-tier private equity candidate from the pack (besides following our private equity recruiting guide), is commercial judgment. It’s the ability to spot the subtle, return-killing traps that hide in plain sight within a model… just … Read more
Landing a coveted private equity role isn’t just about polishing your resume – it’s about excelling in the private equity interview gauntlet. As someone who broke into this industry from a non-traditional background and now sits on the other side of the table, I can tell you PE interviews are a different beast. You need … Read more
Download the Private Equity Résumé Template (2026) Enter your email to unlock both versions. PDF for preview/print, Word for editing. Summary — Pass the 6-Second Scan One page, clean font (10.5–11.5), tight margins. Lead with Deal → Action → Result; quantify. Use investor verbs: evaluated, underwrote, diligenced, recommended. Show LBO/DCFs + value creation (pricing, SG&A, … Read more
Private equity firms generate returns through operational improvements, multiple expansion, and leverage. Learn how these three levers work together to drive value.