Sagard says mid-market buyouts outpace mega-funds as valuations, competition rise

• Sagard analysis argued private equity’s public image is distorted by mega-buyouts, with most activity occurring quietly in the mid-market.
• Private equity assets were estimated at USD 8 trillion to USD 10 trillion, more than doubling over the past decade.
• Mid-market buyouts were described as less reliant on financial engineering, with returns driven more by operational improvement.
• Risk was framed as centered on leverage, liquidity, manager selection, cash-flow timing, not day-to-day volatility.
• DPI was cited as the key performance metric since 2022, as slower exits increased focus on cash returned to investors.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sagard SAS published the original content used to generate this news brief on October 12, 2026, and is solely responsible for the information contained therein.