PitchBook：2026年第一季度美国私募股权中间市场报告（英文版）（29页）.pdf

1、Sponsored byUSPE Middle Market ReportQ12026Q1 2026 US PE MIDDLE MARKET REPORT2Sponsored byContentsSponsored byInstitutional Research GroupSteven Buibish,CFA Director,US Private Equity Jinny Choi Senior Research Analyst,Private Equity Garrett Hinds Senior Research Analyst,Private Equity Kyle Walters

2、Research Analyst,Private Equity Harrison Waldock Senior Data APublished on June 12,2026Executive summary 4Deals 5A word from Cherry Bekaert 9Deals by backing and sector 11Spotlight 12Q1 2026 US Private Credit and Middle Market Quarterly Wrap 12A word from CIL Strategy Consultants 14Exits 17A word fr

3、om Insperity 19Fundraising and performance 22Q1 2026 US PE middle-market lending league tables 27References 28Every Stage of the Deal.One Firm.2025 MIDDLE MARKET DEAL EXPERIENCE650+TRANSACTIONS$25BTRANSACTION VALUE4,400+FUND CLIENTS4,300+PORTCOS SERVED500+INDUSTRYPROFESSIONALS Bekaerts Private Equit

4、y practice provides integrated advisory,audit and tax services to serve as your trusted advisor across the full investment lifecycle,from first look to final exit.Q1 2026 US PE MIDDLE MARKET REPORT4Sponsored byExecutive summaryA strong start,a record-low share.Middle-market deal value reached$103.8

5、billion in Q1,up 10.7%YoY and the highest first-quarter total in five years.Yet the segments share of all US PE buyout value fell to 39.9%,the lowest on record,as deployment continues to concentrate in larger transactions.The middle market is bifurcating.New SPI by StepStone deal-level data shows th

6、e median entry multiple for the$500 million to$1 billion total enterprise value(TEV)band closed 2025 at 13.4x TEV/EBITDA,against 8.8x for the$25 million to$100 million banda spread of roughly 4.6 turns,up from about 3.4 turns in 2023.The upper middle market increasingly resembles megadeal territory;