Alternative Allocations: Unlocking value in middle-market private equity with guest Matt Katz, Fiduciary Trust

This episode of the Alternative Allocations podcast explores why middle-market and lower-middle-market private equity continues to offer compelling opportunities, driven by a structural imbalance between capital availability and deal flow. While the exit environment has been challenging, Matt Katz notes early signs of improvement, with smaller deals progressing even as larger exits remain constrained.

He emphasizes rigorous due diligence around people, philosophy, process and performance, highlighting the importance of aligned incentives and consistent above-median returns in a market with wide dispersion. The conversation also underscores the growing role of secondaries as a way to accelerate portfolio ramp-up, reduce blind pool risk and potentially receive distributions sooner.

Together, these themes point to a private markets landscape rich in opportunity but demanding careful manager selection and thoughtful portfolio construction.