Non-traded BDC enthusiasts have a new semi-annual resource to look forward to. The Small Business Investor Alliance (SBIA), an association for lower middle market private equity funds and investors, recently announced the launch of its newsletter, Lower Middle Market Investment Insights.
The newsletter, which will be published semi-annually, will provide comprehensive analysis of industry trends and key issues impacting the industry. The first edition includes the SBIA/NCMM Lower Middle Market Confidence Index, which is a measure of business confidence in the space based on revenues, expected employment growth, and confidence in the economy as tallied from surveys conducted by the National Center for the Middle Market (NCMM).
The Lower Middle Market (LMM), as defined by the SBIA, includes companies generating $10 million to $100 million in annual revenue. They also include private equity funds such as non-traded business development companies (BDCs) that have raised over $500 million in equity and mergers and acquisitions valued from $10 million to $100 million in enterprise value in the definition.
“We’re excited to launch SBIA’s Lower Middle Market Investment Insights, where we will provide the best data and analysis available to investors in the lower middle market on a semiannual basis. We look forward to sharing the most current data on the lower middle market, the latest deal trends and data-driven analysis, from the only newsletter completely dedicated to this market segment that forms an integral part of our nation’s economy,” said Brett Palmer, President of SBIA, in a statement.
Internal Rates of Return (IRR) and Total Value to Paid-In (TVPI) multiples will be included in the fall newsletter in addition to LMM private equity fund performance benchmarks thanks to the SBIA’s new partnership with Atlas Diligence, a provider of fund due diligence services.
Members of the SBIA will have full access to the fund performance benchmarks.