M&A wrap: GTCR, Piper Jaffray, Sandler O’Neill, Transom, Transom, Audax, Exponent Women

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

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.

During diligence, Ethos’ partners worked closely with management to map specific digital transformation opportunities.