Madeline Shi

The manager set a $1.5 billion hard cap for its latest pool dedicated to GP-led deals, one of the fastest-growing parts of the PE market

Many of these firms are focused on small and mid-sized middle-American businesses in what might best be described as unglamorous sectors.

Chicago-based advisory Lincoln International could become the first boutique investment bank to go public in the US since mid-2021.

Amid surging global M&A activity, Chicago-based advisory Lincoln International could be the first of these banks to go public in the US since mid-2021.

Amid surging global M&A activity, Chicago-based advisory Lincoln International could be the first of these banks to go public in the US since mid-2021.

Given the continued flow of capital to the largest fund managers, many smaller firms are wondering how to remain attractive to investors.

It has become harder in recent years for even the best private equity managers to deliver outsized returns.

The investment bank's decision to go public—after more than 30 years without taking any outside equity—came down to good timing.

Private equity firms in the middle market are inking more deals and pursuing more exits, and that momentum is starting to trickle down into fundraising. But fears remain that this recovery not enough for many smaller managers. In the first four months of 2026, US PE funds collected nearly $120 billion—a 30% jump from the same period last year, according to PitchBook data. Fundraising for the middle tier of the market ticked up sharply. Vehicles sized between $100 million and $5 billion captured

On first-quarter earnings calls, publicly listed private equity firms pushed back on headlines about the software selloff and defended their existing holdings.