“If you can deliver to your investors what they’re looking for, generalist funds are not dead,” says Gretchen Perkins of Huron Capital Partners LLC. Buying lower-middle-market companies and pursuing add-on deals is still Huron’s strategy, she explains, but the nuances of present-day fund raising have changed. For more coverage of Huron, see the most recent edition of editor-in-chief Mary Kathleen Flynn’s column, “Private Equity Perspective: Prepared Firms Prevail.”