News and Resources

Direct lending to middle-market companies can be an attractive asset class for LPs. Historically, the lower part of the middle market has offered significant advantages versus the middle market’s upper tier — companies with EBITDA of $25 million or less compared to those with $40 million to $75 million. But as conditions in the lower-middle […]

Entrepreneur’s new venture aims to fill small biz financing void.

2025 US Insurance Investment Outlook: Seeking Spreads Amid Regulatory Shifts The year has kicked off with all-time tight public market credit spreads amid a flat to slightly upward-sloped yield curve, making public fixed income and long-duration assets less compelling. Against this backdrop and the continued evolution of global regulations, where can insurers find attractive investment […]

3 Reasons Why M&A Investors Should Focus on Lower Middle Market Firms To create returns, there has been a trend among M&A investors to invest in middle-market companies, those with revenues between $100 million and $500 million. The firms are plentiful, with opportunities for improvement, lower valuations, and reduced barriers to entry. Yet, their popularity […]

Andrea Petro Default rates are starting to increase in the upper mid-market, making credit terms more important than ever Capital structures remain key to recovery Q Historically, how have capital structures and credit terms across the midmarket compared? Have you traditionally seen variations across market segments?  As you compare capital structures across different segments of […]

Institutional investors have continued to flock to direct lending for diversification and return throughout the post GFC era. The current market environment, however, is starting to highlight that a rising tide does not necessarily lift all boats. Against this backdrop, many have come to recognize that managing through today’s complex environment requires the hand of […]

2024 Private Credit Direct Lending Outlook: Three Key Factors Investors Need to Watch We believe a period of marked divergence lies ahead across private credit direct lending in 2024, fueled by a sustained high interest rate environment and the impact of varying portfolio approaches. Specifically, while the overall private credit direct lending (lower middle market) […]

Private equity has become an increasingly vital component of the investment landscape, offering opportunities for substantial returns through strategic investments in various market segments. Among these, middle market and lower middle market private equity stand out, each presenting distinct characteristics and opportunities. Understanding these differences is crucial for investors aiming to maximize their returns while […]

Interview with Joel Adelman about the keys to raising capital.

Michael Turk CFO of Advance Partners played key role in the Paychex-Advance Partners transaction.