Two trends Pelham S2K Managers LLC partner Venita Fields says she’s noticed in the lower middle market over the last 20 years: More larger private equity funds are dipping into the space, and more entrepreneurs are business savvy.

“Some of the companies we see are much more sophisticated; they’re well run; they have practices and systems in place,” Fields says. “The great thing about working in the lower end of the middle market is that there are quite a few professional entrepreneurs out there who’ve really done a great job managing their businesses, and they just need capital to grow. And that’s what we like to do."

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