The January 2017 issue issue marks the second installment of Mergers & Acquisitions’ The Most Influential Women in Mid-Market M&A. All of the leaders who were honored on our original list who are still active in M&A remain, and we’ve added more, bringing the total to 35 dealmakers.

While there haven’t been any major developments that have advanced the role of women in the middle market over the last year, the movement forward has continued. One underlying trend in the private equity industry that bodes well for women and minorities is a generational shift. As the asset class matures and some of the older players step aside, there’s room for new firms and new leadership of old firms, providing potential opportunities for newcomers.

Kristina Heinze, who graces our cover, co-founded ParkerGale Capital LP when she and four male partners spun off Chicago Growth Partners in 2014. Heinze leads deal sourcing for ParkerGale, which backs small technology companies. The firm recently closed its debut fund.

Julia Karol represents a different kind of example of the generational shift. Karol was recently promoted to president and chief operating officer of the Watermill Group, a Boston area firm founded by her father and grandfather.

Women comprise 14 percent of the members of the Association for Corporate Growth, a number that has grown over the years. ACG Global and many of the organization’s local chapters offer programs for women. The annual InterGrowth conference includes a networking lunch. The New York chapter holds a summit. The Philadelphia chapter hosts a golf outing, including a clinic for women who are new to the game.

Financial services industry