Many private equity sponsors adopted a more selective stance in Q1 2026 amid AI-driven disruption in the software sector and continued geopolitical uncertainty. Yet deal pipelines are building, and our own activity remained strong across the quarter. In this edition of our European Mid-Market Monitor, we examine the evolving dynamics of the software sector and […]
The opening market conditions for 2026 closely mirror those seen at the end of 2025: a market characterised by gradually compressing base rates, sustained borrower demand, and an expanding opportunity set across the mid-market. In 2025, European mid-market enterprise values rose 6.7%, according to Lincoln International’s European Private Market Index, outperforming the FTSE 250 EV […]
As we close Q3 and look ahead to year-end, the European mid-market continues to demonstrate resilience despite broader macroeconomic challenges. M&A volumes in Europe remain steady, with over half of our introductions this quarter tied to sales processes, while refinancings, including Continuation Vehicles, continue to represent a prominent theme. In our quarterly European Mid-Market Monitor, […]
Momentum in M&A and the diverging macro-landscape between the US and Europe reinforces Europe’s investment appeal where we believe better risk-return is available for LPs.
The first quarter of 2025 saw a continued improvement in the quality of new deal introductions, with M&A processes gaining notable momentum and outpacing refinancing and recapitalisation activity. This positive start has established a solid foundation for the second quarter. In our European Mid-Market Monitor, we explore key trends and developments in direct lending and spotlight the technology sector, one of our most active areas in 2024 and an ongoing source of high-quality opportunities. We also provide regional insights from the Benelux market, which remains resilient and active in M&A despite broader global headwinds.
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