Siguler Guff & Co.

“Siguler Guff & Co. has raised more than $3 billion for its sixth small-cap buyout fund... It's a reminder that there's big money in small deals, despite our tendency to focus on larger transactions.”

“There are hundreds of thousands of possible targets (i.e., most American businesses)... Such deals use relatively little leverage, which is a net positive as rates rise... There's a glut of midmarket fund capital, which creates exit opportunities once companies have grown.”