Defining the lower mid-market: the benefits of a more focused approach | Federated Hermes Limited

Brooks Harrington, CFA

Chief Investment Officer, Private Equity

Insight

11 March 2026 |

Alternatives

We believe private equity’s lower mid-market is rich with opportunity, yet it remains inconsistently defined. Investors exploring the segment in search of improved returns are faced with varying interpretations of what the lower mid market encompasses.

Defining the lower mid-market: the benefits of a more focused approach

Here, we discuss why we look at the segment through a more focused definition and how this allows us to target what we believe to be its most exciting opportunities.

Our latest insight report covers:

Why defining the lower mid‑market matters
How Federated Hermes defines the segment
What drives opportunity in this part of the market
Why the space is undercapitalised
Why experience and networks matter

Defining the lower mid-market: the benefits of a more focused approach

Watch the video series: Defining and refining the lower mid-market opportunity | Federated Hermes Limited

Private Markets

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Defining the lower mid-market: the benefits of a more focused approach

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