1、USPE Middle Market ReportQ12025Sponsored Spicer Jeffries renowned securities industry reputation with Cherry Bekaerts comprehensive audit,tax and advisory services to guide you forward.Serving The AssetManagement Industry COMMITTED TO3,500+Portfolio Companies3,600+FundsCOMBINED INDUSTRY RELATIONSHIP

2、S:500+Professionals COMBINED TEAM:Sponsored by3Q1 2025 US PE MIDDLE MARKET REPORTPitchBook Data,Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligenceMarina Lukatsky Global Head of Research,Credit and US Private EquityInstitutional Research GroupAnalysisGarrett Hinds Senior R

3、esearch Analyst,Private Equity Jinny Choi Senior Research Analyst,Private Equity Kyle Walters Research Analyst,Private Equity DataNick Zambrano Data APublishingReport designed by Josie Doan and Adriana HansenPublished on June 13,2025Click here for PitchBooks report methodologies.ContentsSponsored by

4、Executive summary4Deals6Deal valuation metrics11A word from Cherry Bekaert12Deals by backing and sector14Spotlight:Private Capital in Sports:PE Is Up to Bat16A word from CIL Management Consultants18Exits20Fundraising and performance25US PE middle-market lending league tables29Sponsored by4Q1 2025 US

5、 PE MIDDLE MARKET REPORTExecutive summaryThe current uncertainty surrounding US trade policy exerts significant pressure on middle-market companies.The B2B and B2C sectorstogether representing more than half of all PE-backed companiesare particularly exposed.Although many firms manufacture domestica

6、lly,their operations are anything but insulated.Within B2B,industrial firms rely heavily on imported commodities and less specialized inputs.Meanwhile,consumer companies depend on finished goods sourced from abroad.In both sectors,elevated tariffs weigh on margins and strain supply chain resilience,