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With fundraising increasingly tied to cash returned to investors, private equity firms are finding new ways to generate liquidity. But LPs are looking beyond the headline DPI numbers to see how that cash was produced — and how much risk remains.
Across lower middle-market private equity, fundraising momentum is increasingly colliding with the finite supply of founder-owned businesses available at attractive valuations.
Grand Fitness Partners is a prominent franchisee within the Planet Fitness system, operating 98 locations across California, Florida, New Jersey, Pennsylvania and Virginia.