The crowded private middle market has historically seen high valuations and fewer investment worthy targets, causing financial and strategic buyers to compete more aggressively for available deals. However, due to the reduced cashflow caused by the COVID-19 pandemic middle market companies have a greater need for capital. Given these new middle market dynamics, where do GPs expect to find stable growth in a downturn? How are LPs taking these factors into ac­count when selecting managers?

Moderator:
Josh Norton, Corporate & M&A Partner, Koley Jessen
Panelists:
Jeffrey Stevenson, Managing Partner, VSS
Benjamin Hochberg, Partner, Lee Equity Partners
Beth Johnson, Partner, Mercer
Axel Leichum, Partner, CIL Management Consultants