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The annual roundup highlights private equity, venture capital, and lenders with track records of backing founder-led companies

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U.S. Middle Market Earnings and Revenue Remain Resilient in Q3 2025

Middle market private companies in the Golub Capital Altman Index grew earnings by 3% year-over-year in the third quarter of 2025. Revenue grew 4% during the same period.

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U.S. Middle Market Earnings and Revenue Prove Resilient in Q2 2025

Middle market private companies in the Golub Capital Altman Index grew earnings by 5% during the first two months of the second quarter of 2025. Revenue grew 2% during the same period.

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Golub Capital Publishes Q1 2025 Middle Market Report

Middle market private companies in the Golub Capital Altman Index grew earnings by 2% during the first two months of the first quarter of 2025. Revenue grew 3% during the same period.

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U.S. Middle Market Continues to Show Strong Earnings and Revenue Growth

Middle market private companies in the Golub Capital Altman Index grew earnings by 9% during the first two months of the fourth quarter of 2024. Revenue grew 6% during the same period.

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The annual roundup highlights the private equity, venture capital, and lenders with track records of backing founder-led companies

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U.S. Middle Market Performance Shows Sustained Stability

Middle market private companies in the Golub Capital Altman Index grew earnings by 8% during the first two months of the second quarter of 2024. Revenue grew 5% during the same period.

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U.S. Middle Market Performance Remains Consistent

Middle market private companies in the Golub Capital Altman Index grew earnings by 11% during the first two months of the second quarter of 2024. Revenue grew 7% during the same period.

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U.S. Middle Market Fundamental Earnings Growth Remains Consistent

Middle market private companies in the Golub Capital Altman Index grew earnings by 11% during the first two months of the first quarter of 2024. Revenue grew 5% during the same period.

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U.S. Middle Market Performance Remains Strong, Defying Consensus

Middle market private companies in the Golub Capital Altman Index grew earnings by 16% during the first two months of the fourth quarter of 2023, the highest year-over-year earnings growth since Q2 of 2021. Revenue grew 7% during the same period.

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Disclosure: Press releases dated before November 9, 2022 refer to Golub Capital Late Stage Lending, the former name of Golub Growth.