2021 U.S. Middle-Market Private Equity Report

This report provides a comprehensive analysis of U.S. middle-market private equity activity in 2021 and offers an outlook for 2022. It documents the record levels of dealmaking activity, which reached over $760 billion in aggregate deal value, surpassing the previous year's total. The report highlights the significant growth in private equity dry powder, which increased to $3.3 trillion by the end of 2021, driven by strong investment returns and low interest rates. It details trends in various sectors, noting that technology and healthcare services attracted substantial investment, while industrials faced challenges. The report also discusses fundraising trends, including the rise of mega-funds and the impact of Special Purpose Acquisition Companies (SPACs) on the market. It concludes with an outlook on potential challenges for the private equity sector, including inflationary pressures and supply chain issues, while emphasizing the ongoing competition for deals in a robust market environment.