Are Search Funds Moving Up Market?
Over the past few months, I’ve been presented with five separate opportunities that contemplated the acquisition of a company with $7M or more of EBITDA (this compares to the Search Fund average of $2.2M for theredactedcohort of Searchers).
While I acknowledge that five data points don’t constitute a trend, at the very least this has piqued my curiosity. While the Search Fund ecosystem has worried – seemingly for over a decade now – about the possibility of middle-market Private Equity firms moving down market, it’s interesting to ask whether the inverse may now be happening, at least to a certain extent:
Are Search Funds moving up market?
Link: redacted
