SOURCING
2025 Year-in-Review
This was a milestone year for the Sourcing team as we enhanced both domain expertise and functional expertise across the platform. Private equity sponsors consistently highlighted the value of our sector-driven sourcing engine, pairing decades of business experience with a nuanced understanding of how sponsors actually underwrite deals. That combination translated into sharper, more relevant deal flow and stronger early-conviction on both sides of a potential transaction.
2025 was a year of strong growth as well:
- Expanded our Sponsor Coverage Team, allowing for even better service to the growing market demands
- Created a separate Strategic Opportunities Group, focused on non-retained proprietary deals and intermediary deals, giving us a broader inventory of deal flow to support our clients’ increasing demand
- Rolled out a number of AI tools within the Sourcing function, continuing or innovation cycles that allow us to maintain quality while making our people even more effective at the jobs they do well
- The number of active engagements has grown considerably, reflecting both our own team’s increased size and efficiency, but also the accelerated awareness and demand we saw in the market, given the significant pool of latent capital
We are on pace to source significantly more high-quality opportunities YoY. Notable verticals showing momentum included:
- Segments insulated from tariff/supply-chain volatility
- Professional services (accounting, insurance, wealth management, etc.)
- Facility services (HVAC, roofing, landscaping, etc.)
- Segments benefiting from secular trends
- Digital infrastructure
- Robotics and automation
- Segments seeing near-term accelerated investment
- Water treatment
- Electrical services
- Aerospace & defense components and services
The rollout of our Research function further amplifies Sourcing’s capabilities as we begin 2026. This enhances our deal flow and execution quality, further refines our valuation accuracy, and strengthens deeper Private Equity relationships.
