People moves: 12 top dealmakers take on new jobs

Across lower middle-market private equity, fundraising momentum is increasingly colliding with the finite supply of founder-owned businesses available at attractive valuations.

Loughran succeeds Patrick Olson, who has led the company since May 2023.

The alternative asset industry's long-standing bargain — higher yields in exchange for opacity and illiquidity — is being dismantled piece by piece, and the firms moving fastest to replace it may define the next decade of the private market.