“We are thrilled to welcome Tom as a Senior Advisor to our valuations professionals,” said Ron Kahn, Managing Director & Global Co-Head of Valuations & Opinions. “Throughout his distinguished career as an investor, executive and board leader, Tom has established a reputation as a leader who builds cohesive, values-driven cultures and achieves sustainable growth. His insights will be invaluable as we continue to grow the scope and capabilities of Lincoln’s valuations advisory practice.”

Tom has extensive experience advising management teams, boards and investors on capital formation, strategic growth initiatives and value creation. He has also led numerous complex restructurings, including distressed investments, recapitalizations and operational turnarounds.

“Lincoln’s reputation as a proactive and trustworthy leader in the valuations space is one of the many reasons I am excited to begin my role as a Senior Advisor,” said Tom. “My own advisory approach emphasizes disciplined investing and the creation of enduring enterprise value, which is deeply aligned with the values and culture that drive Lincoln as a firm.”

Connect with Tom and Lincoln’s Valuations & Opinions leaders to learn how our team can help drive your success.

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“We are thrilled to welcome Chris to Lincoln as we continue to build on the strong momentum of our transaction opinions and board advisory offering,” said Chris Croft, Managing Director & Co-Head of transaction opinions & board advisory. “Chris brings deep experience that further strengthens our ability to deliver independent, high-quality advice to GPs, boards of directors and other corporate decision makers.”

Chris has advised sponsors and boards on a wide range of complex transactions, including going-private transactions, de-SPAC transactions, spin-offs, carve-outs, mergers, dividend recapitalizations, share repurchases, down-round financings and rights offerings.

“I’ve had the privilege of knowing and working with Chris for nearly two decades and have seen firsthand the strength of his judgment, work ethic and commitment to clients,” said Chris Gregory, Managing Director & Co-Head of transaction opinions & board advisory. “Having spent much of our careers working together, I’m especially excited to welcome him to Lincoln. Chris brings a level of experience and perspective that will further enhance our ability to deliver thoughtful, high-quality advice as we continue to grow the practice.”

As secondary markets continue to mature and transaction complexity increases, independent transaction opinions and rigorous valuation support have become increasingly critical to corporate governance processes. Lincoln’s continued investment in its transaction opinions & board advisory practice positions the firm to meet this growing demand.

“2026 is an exciting time to join Lincoln’s highly regarded transaction opinions and board advisory practice,” said Chris Swiecicki. “I look forward to collaborating with Lincoln’s team to deliver independent, defensible financial advice that supports critical decisions for sponsors and boards.”

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Prior to joining Lincoln, Kunal was at Arma Partners, where he spearheaded several landmark transactions across software verticals, including the sale of Anaqua to Nordic Capital; the sale of Kerridge Commercial Systems (now Klipboard) to CapVest; the sale of German-listed GK Software to Fujitsu; and the sale of RGI to CVC.

“Software remains the most sought-after technology asset class for our clients and is a primary driver of growth across the sector,” said Harald Mährle, Managing Director & Global Co-Head of Technology. “Kunal’s demonstrated expertise in this area will be an invaluable asset as we continue to scale Lincoln’s software presence across Europe.”

With Kunal’s hiring, Lincoln’s European technology team grows to 11 Managing Directors, reflecting the firm’s continued commitment to delivering exceptional outcomes for clients across the region.

“I look forward to joining the Lincoln platform at a pivotal time for our industry,” said Kunal. “My clients will benefit from the combination of my own sector expertise and Lincoln’s global reach and proprietary insights into software valuations and transaction trends.”

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“As we continue building upon our top-tier technology services advisory team in Europe, Sara’s hiring expands both our geographic presence and our domain expertise,” said Harald Mährle, Managing Director & Global Co-Head of Technology. “Her proven track record advising on high-profile transactions for market-leading companies complements Lincoln’s established reputation as a sector expert.”

Sara has advised on marquee technology services transactions across France, Italy, Spain, Benelux and Switzerland. She focuses her efforts within the cybersecurity and data & AI verticals, which are core drivers of growth in the sector.

With Sara’s hiring, Lincoln’s European technology services team grows to five Managing Directors, reflecting the firm’s continued commitment to delivering exceptional outcomes for clients across the continent.

“I am excited to join Lincoln amid strong firm-wide and sectoral momentum,” said Sara. “With AI and cybersecurity trends fueling investor demand, I look forward to leveraging Lincoln’s platform to deliver outstanding results for my clients.”

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CHICAGO, February 23, 2026 —Lincoln International, a global investment banking advisory firm, today announced a strategic collaboration with S&P Dow Jones Indices (S&P DJI) to launch the S&P Lincoln Senior Debt Index Series, which includes the U.S. S&P Lincoln Senior Debt Index and Europe S&P Lincoln Senior Debt Index. These indices, which will first be reported quarterly and then monthly before the end of 2026, address a critical need of private markets participants: transparent, independently calculated benchmarks that can be used to evaluate performance of private credit investments.

The indices combine Lincoln International’s private market insights with S&P DJI’s expertise in index design, administration, and governance. By tracking the fair value of direct lending investments across fund clients in the U.S. and Europe, the indices provide asset managers, limited partners, plan sponsors, other institutional investors and retail investors with a credible reference point for benchmarking returns, assessing risk profiles and making informed allocation decisions.

“Private credit has grown into a multi-trillion-dollar asset class, but institutional investors have historically lacked the transparent, rules-based benchmarks that exist in public markets,” said Rob Brown, CEO of Lincoln International. “Through the launch of this collaboration, we have an opportunity to bring our comprehensive private market data to a much larger universe, further bolstering our position as the leading global investment bank serving the private capital markets.”

The collaboration between Lincoln International and S&P DJI enables critical use cases for a wide range of private market participants:

•  Asset Managers: Fund managers now have a third-party benchmark to reference when presenting performance data to current and prospective investors.
• Institutional & Retail Investors: Investors and allocators can now compare manager performance against a recognized independent benchmark, moving beyond anecdotal or manager-provided data.
• Research Institutions: Private market researchers and analysts will gain better visibility into directional trends of the direct lending market, including changes in pricing, and shifts in the return profile across an array of industries and size categories.

“As the push for retail capital continues to accelerate, private market participants are demanding greater transparency and frequency of data on what has historically been an opaque and illiquid asset class,” added Ron Kahn, Managing Director and Co-Head of Lincoln International’s Valuation and Opinions Group. “This benchmark equips fund managers, allocators and individual investors with a common language for understanding what’s happening in private lending markets.”

“Private markets are experiencing a transformative moment, driven by increased participation and demand for better insight,” said Catherine Clay, Chief Executive Officer at S&P Dow Jones Indices. “As private markets continue to mature, the need for trusted data and benchmarks is becoming more pronounced. We’re excited about the opportunity to extend our expertise into this space in collaboration with Lincoln International, bringing consistency to a market that is increasingly important to investors worldwide.”

The launch of the U.S. and Europe S&P Lincoln Senior Debt Index Series is an extension of Lincoln International’s work to build the most comprehensive view of the private capital market bringing unparalleled insights and perspectives from the wealth of data it analyzes. Lincoln International will continue to publish the Lincoln Private Market Index, produce quarterly insights and webinars on the state of the private markets delivering the interpretation, implications and nuanced commentary that help clients and investors understand what the data means for their portfolios.

To learn more about the U.S. and Europe S&P Lincoln Senior Debt Index Series, visit https://www.spglobal.com/spdji/en/index-family/private-markets/private-credit/#overview. For more information about Lincoln International’s private markets indices and data offerings, visit www.lincolninternational.com. LINCOLN SENIOR DEBT INDEX, LINCOLN PRIVATE MARKET INDEX and LINCOLN INTERNATIONAL are service marks owned by Lincoln International, LP.

About Lincoln International

Lincoln International is a trusted investment banking advisor to business owners and senior executives of leading private equity firms and their portfolio companies and to public and privately held companies around the world. Our services include mergers and acquisitions advisory, private funds and capital markets advisory, and valuations and fairness opinions. As one tightly integrated team of more than 1,400 professionals in more than 25 offices in 16 countries, we offer an unobstructed perspective on the global private capital markets, backed by superb execution and a deep commitment to client success. With extensive industry knowledge and relationships, timely market intelligence and strategic insights, we forge deep, productive client relationships that endure for decades. Connect with us to learn more at www.lincolninternational.com.

The U.S. S&P Lincoln and Europe S&P Lincoln Senior Debt Indices are a product of S&P Dow Jones Indices LLC or its affiliates (“S&P DJI”) and Lincoln Partners Advisors LLC and its affiliates. S&P®, S&P 500®, SPX®, SPY®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). Lincoln International and the Lincoln Senior Debt Index are service marks owned by Lincoln International, LP and its affiliated entities. Investment products based on S&P DJI’s indices are not sponsored or sold by S&P DJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the indices.

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Lincoln International, a leading global investment banking advisory firm, today announced the launch of Lincoln Lens, a comprehensive digital platform designed to meet the evolving needs of private equity and private credit clients seeking greater transparency, efficiency, and market context in their valuation processes.

Lincoln Lens integrates valuation insights, portfolio monitoring capabilities, and direct access to Lincoln’s proprietary private markets database—encompassing data from more than 7,000 privately held portfolio companies and 2,500+ asset-backed finance investments—into a single, secure platform.

“Private market participants require faster access to information, clearer ways to interpret results, and tools to help them communicate with stakeholders,” said Ron Kahn, Managing Director and Co-Head of Lincoln’s Valuations & Opinions Group. “We built Lincoln Lens to give our clients a more transparent way to capture the market intelligence and portfolio monitoring they need to make informed investment decisions.”

Lincoln Lens offers a range of integrated capabilities:

• Market Intelligence & Benchmarking: Self-service access to Lincoln’s private markets database, enabling users to contextualize their portfolio performance against relevant market benchmarks for transaction multiples, pricing, leverage, fundamental performance, and other key metrics.
• Digital Valuation Summaries: Structured, interactive views of valuation conclusions with clear visibility into key outputs, sensitivities, and period-over-period changes.
• Portfolio Analytics: Aggregated views of portfolio-level trends, risk indicators, and valuation drivers to support investment committee preparation and limited partner reporting.
• Collaboration & Project Management: A centralized workspace for tracking valuation status, exchanging documents, and managing diligence requests in real time.

Lincoln Lens will be integrated into the firm’s engagement process for Valuations & Opinions clients. This launch reinforces Lincoln International’s position as a leader in private market valuations and represents the firm’s latest strategic investment in expanding access to private markets data.

“As allocation to private market asset classes continues to rise, demand for high-quality, actionable data is at an all-time high,” said Brian Garfield, Managing Director and Head of U.S. Portfolio Valuations. “For over a decade, Lincoln has provided investors and fund managers with proprietary data to contextualize their performance. Lincoln Lens offers market participants even deeper benchmarking capabilities and intelligence to stay ahead and maximize outcomes.”

To learn more about Lincoln Lens, email lens@lincolninternational.com.

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Lincoln International, a global investment banking advisory firm, announced today that the Lincoln Private Market Index (LPMI), the only index that tracks changes in the enterprise value of U.S. privately held companies, increased by 1.9% during the fourth quarter of 2025 driven by EBITDA growth as enterprise value multiples remained relatively flat. In comparison, the S&P 500 enterprise value growth was 2.3% over that time, largely driven by the Magnificent 7 as demand for AI-linked chips, cloud infrastructure and software reached new highs in December 2025, which, notably, were erased in the first quarter of 2026. Excluding the Magnificent 7, S&P 500 enterprise value growth was more modest at 1.4%, primarily driven by broader macroeconomic optimism on the back of executed rate cuts and further expected rate cuts by the U.S. Federal Reserve throughout 2026, which would similarly benefit private markets.

The LPMI’s full year 2025 growth of 9.9% lagged the S&P 500 and S&P 500 excluding the Magnificent 7, which clocked in at 15.6% and 11.9%, respectively.

“Private company enterprise value growth in Q4 was consistent with the rest of 2025 in that the growth was driven by an increase in earnings,” noted Steve Kaplan, Neubauer Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business, who assists and advises Lincoln on the LPMI. “While private company enterprise value growth was less than that of the S&P 500 in Q4 and trailed the S&P enterprise value growth excluding the Magnificent 7 by just 2% in 2025, the LPMI’s growth was almost entirely on the back of earnings growth whereas as the S&P 500 had a larger degree of multiple volatility driving its performance.”

Private Market Competition Remained Hot in Q4

Buyout volumes and valuations for A-tier companies remained strong in Q4 2025 as these companies commanded higher enterprise valuation multiples compared to Q3 2025 and returned to, and in certain instances, exceeded, levels observed at the prior peak of the market in 2021. One anecdote of this trend was a deal that Lincoln’s Mergers & Acquisitions (M&A) Group advised on: Parker-Hannifin’s acquisition of Filtration Group from Madison Industries for $9.25 billion or 19.6x EBITDA, which was well above the average multiple observed by Lincoln in 2025, highlighting that market participants are looking for high-quality assets and are willing to pay a premium for them.

For attractive companies, sponsors have continued to write large equity checks and lenders have continued to compete on spread, original issue discount (OID), and leverage levels, stretching their limits in these areas to get deals done and capital deployed. These favorable trends drove the average buyout multiple up to 13.1x EBITDA, which is above the peak in 2021 and 2022, and leverage levels up to 5.2x, approximating the levels seen in 2021 and 2022 despite higher interest rates today. New issue terms for borrowers between $40 million and $100 million of EBITDA remain historically tight, with new issue unitranche spreads of S+4.50% and OIDs tightening to just 1% on average, with some deals having no OID at all.

On the back of this market competition and sponsors’ and lenders’ appetite to deploy capital, billion-dollar deals continue to take a larger share of the M&A market. Based on data from Lincoln’s proprietary private market database, billion-dollar deals comprised approximately one-third of acquisitions in 2025, up from 25% in both 2024 and 2021. Therefore, even as the quality of closed deals broadens, the pool of capital chasing these deals and the willingness of sponsors and lenders to compete on purchase prices and multiples and terms continue to increase.

Amidst the Competition, Private Company Performance Growth Slows

While capital market activity ended 2025 on a high note, looking ahead to 2026, one large factor to drive buyout volumes and valuations will be private company performance and outlook. While tariff impacts will likely be more muted than may have been initially feared post-Liberation Day, many private companies are just now starting to see the impact of tariffs in their quarterly financial results and will imminently issue budgets for 2026 based on this insight into tariff impacts.

The percentage of private companies with EBITDA growth in the fourth quarter remained consistent at around two-thirds and the magnitude of EBITDA growth for the full year of 2025 of 4.7% was favorable to 2024 of 3.5%. However, looking back across 2025, the magnitude of EBITDA growth steadily slowed since the beginning of the year as year-over-year, last 12 months EBITDA growth declined from 6.5% in Q2 to 5.2% in Q3 and 4.7% in Q4. While EBITDA growth remains positive, this slowing growth may explain why Lincoln observed leverage increases of ~0.5x from deal inception to today across all vintages, likely driven by a combination of lower realization of synergies and limited free cash flow generation due to years of high rates.

“We have seen a steady slowing of EBITDA growth during 2025 and companies not being able to organically deleverage,” noted Ron Kahn, Managing Director and Global Co-Head of Lincoln’s Valuations and Opinions Group. “Notably, of the loans that remain outstanding from the 2019 and 2020 vintages, that growth in leverage is closer to 1.0x, the exact opposite of what you would expect. Many of these deals likely mature in the next two years and we estimate that around 30 to 40% of the deals maturing in the next two years have already extended their maturity once meaning that lenders either need to provide an incremental extension or potentially explore a restructuring if these deals cannot otherwise be refinanced.”

Direct Lending Market Competition Leads to Stable Valuations Despite Slowing Growth

The average fair value of loans tracked by the Lincoln Senior Debt Index (LSDI) decreased by only 0.1% from Q3 to 99.0%. Aside from the trends already noted in new issue spreads and OID, lenders have continued to stretch on leverage to compete amongst themselves and the broadly syndicated loan (BSL) market, with larger borrowers seeing upwards of 0.5x of additional leverage, further enabled in part by the record buyout multiples.

While competition has kept fair values near their peak, performance headwinds dragged some loans down. While the covenant default rate remained flat since Q3 at 3.2%, amendment activity increased 13% quarter-over-quarter, with maturity extension and covenant holiday activity increasing 14% and sponsor infusion activity increasing 31%. Conversely, repricing amendment activity, often a sign of positive company performance, increased just 6%. This trend suggests that although lenders and sponsors remain supportive of portfolio companies, the signs of distress amongst underperforming portfolio companies are growing.

The covenant default rate is only one measure of stress and, to dig deeper into the health of the direct lending market, Lincoln did an analysis of PIK activity and determined that 11% of loans valued by Lincoln paid PIK interest in 2025. Importantly, this represents any magnitude of PIK interest (i.e., it may be a small partial PIK toggle or a full PIK election). The 11% represents an increase from 7% in 2021.

Further analysis showed that, of the 11% of loans with PIK interest, Lincoln determined that 58% of those companies had “bad PIK” interest, meaning these companies did not pay any PIK interest at initial transaction close (including loans that had a PIK toggle that was not utilized at inception), but now had some component of PIK interest, up 1% from Q3 and 23% since Q4 2021. Putting this all together, of the total population of loans in Lincoln’s proprietary private market database, 6.4% of loans had “bad PIK”, an increase from 6.1% in Q3 and 2.5% in Q4 2021. This “bad PIK” percentage can be viewed as a “shadow default rate” or a proxy for situations wherein there may have otherwise been a default if not for a PIK election given such elections are often made due to liquidity tightness. As further corroboration that this cohort of loans with bad PIK may be experiencing stress, the average increase in loan-to-value (LTV) was 36.7%, increasing from a healthy 39.4% at inception to 76.1% today, further demonstrating the stress of these borrowers.

However, interestingly, in Q4 2025, Lincoln estimated the total percentage of interest income paid in the form of PIK interest to be 8.3%. Although this represents an increase from 5.4% in the prior peak of the market in Q4 2021 after PIK usage surged in 2020 and 2021 due to the COVID-19 pandemic, it is important to note that the vast majority of interest income collected by lenders remained paid in the form of cash interest. Furthermore, throughout 2025 size weighted fixed charge coverage ratios increased from 1.1x to 1.3x and the weighted average percentage of companies with a fixed charge coverage ratio of less than 1.0x decreased to 21%, which is the lowest level since 2022. While on the one hand this indicates that companies demonstrated an improvement in their ability to service their principal and interest, on the other hand, it may have been due in part to this increase in PIK usage.

One final trend Lincoln observed in 2025 was a meaningful increase in instances of lenders taking control of a business from the sponsor, clocking in at $24.1 billion of debt foreclosed relative to just $13.6 billion in total in the preceding three years. Of those change of control transactions, nearly 75% related to 2021 and 2022 vintage deals.

Direct Lending Outlook for 2026

With these conflicting trends of record low spreads and slowing growth and pockets of stress, one may ask, what is in store for direct lenders in 2026? One measure, the declining price / NAV of publicly traded business development companies (BDCs), suggests that some investors may be skeptical of the outlook for BDCs (and thus more broadly direct lending). While some of these fears may be due to idiosyncratic portfolio company specific shocks, which are not, broadly speaking, reflective of the entire direct lending market, other fears may be linked to the fact that amidst these record-tight spreads, rates continue to be cut and there may be further cuts on the horizon. Furthermore, given most loans are floating rate, asset level income and thus BDC dividends are directly impacted. To put a finer point on it, based on the LSDI, since 2016, direct lending yields peaked in Q3 2023 at 11.8% and have since decreased by over 2% to just 9.5%.

“Amid this period of rising stress and compressing spreads, so far, direct lending has broadly proven its ability to weather these compounding headwinds,” said Kahn. “While returns continue to remain attractive, particularly for portfolios locked in with more favorable spreads from earlier vintage years, asset selection and active portfolio management will be critical for successful funds with a larger proportion of recent vintages that were underwritten to tighter spreads and higher leverage levels, as defaults on these deals will be more impactful given the lower level of interest income being generated.”

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“Jochen’s liability management and recapitalization expertise presents an exciting opportunity to unlock Lincoln’s capital advisory capabilities across our broader client base,” said Alexander Stevenson, Managing Director and Co-Head of Lincoln’s Capital Advisory Group in the U.S. “His deep insights and experience will enhance Lincoln’s platform as we continue building a world-class team of market leaders in capital structure and restructuring solutions.”

Already a market-leading platform in mergers and acquisitions and capital raising, Jochen will further expand Lincoln’s liability management and restructuring practice. Jochen has extensive experience advising all types of parties in major restructurings, including companies, boards of directors, creditor groups, sponsors and governmental entities, and has represented stakeholders in ~50 transactions exceeding $100 billion of capital. The team’s growth trends reflect Lincoln’s commitment to providing clients with outlier results at every stage of the lifecycle.

“Liability management and restructuring continue to grow in importance, both as market themes and as a strategic priority for Lincoln,” said Rob Brown, CEO of Lincoln International. “As pandemic-era vintages approach maturity, Jochen’s deep expertise will be critical to help our clients find success.”

With Jochen’s hiring, Lincoln’s Capital Advisory Group continues its strategic growth. The team of 70+ professionals now sits in eight offices across North America and Europe, delivering integrated services across the globe.

“Proactive development of alternatives for sponsors, companies and lenders alike is and remains critical in our current market environment,” said Jochen. “I look forward to joining Lincoln’s platform to help our clients navigate their most complex challenges, leading with creative problem solving and steadfast, principled advocacy.”

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Lincoln’s significant momentum and market leadership are reflected across each of our core products:

• Mergers & Acquisitions Group: Experienced a steady increase in activity as 2025 unfolded and headed into 2026 with a strong level of backlog
• Valuations & Opinions Group: Delivered more than 25,000 portfolio valuations for our global network of private market leaders, completed 10,000 investments across asset-backed finance and launched a dedicated disputes practice offering M&A dispute resolution and expert advisory solutions
• Transaction Opinions & Board Advisory team: Achieved 22% year-over-year growth in number of opinions delivered and board advisory engagements, providing 150+ fairness and solvency opinions globally and 25+ specifically across the EMEA region
• Capital Advisory Group: Completed 170+ transactions over the last three years, providing increasingly deft and creative alternative financing solutions to clients as they navigated the market
• Private Funds Advisory Group: Surpassed $12 billion in capital raised across 23 closed transactions since our launch in 2022 on behalf of our GP clients involving fundraises, single asset vehicles and continuation vehicles

Our team remains committed to delivering solutions as the trusted partner of choice for the private capital markets, and we look forward to achieving even greater milestones together in the year ahead.

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The newly promoted professionals span Lincoln’s North America, Europe and Asia offices, reflecting the international reach and collaborative culture of Lincoln’s advisory platform. Their leadership roles will guide the firm’s Mergers & Acquisitions, Valuations & Opinions and Financial Sponsor Coverage Groups, demonstrating the firm’s broad commitment to delivering best-in-class advisory services across the global private markets.

“Our newest Managing Directors embody Lincoln’s focus on attracting, retaining, engaging and empowering top talent for long-term success,” stated Rob Brown, Chief Executive Officer of Lincoln International. “The promotion of these six professionals, in addition to 13 lateral hires and the acquisition of MarshBerry in 2025, strengthens our global Managing Director team to over 150. We are excited about the impact that all of these people will have as we pursue our goal of being the best investment banking advisor in the private capital markets.”

Outlined below are further details about the newest Managing Directors, in alphabetical order:

Promoted Professionals across Lincoln’s Brands

Peter Gnatowski | New York
Peter advises companies, their creditors and equity-holder constituencies across complex capital structure transactions within Lincoln’s Capital Advisory and Restructuring Group. With over 18 years of experience, Peter’s expertise includes raising debt and equity capital, recapitalizations, restructuring negotiations and mergers and acquisitions. His wide range of expertise enables him to successfully guide his clients in optimizing their capital structure needs through creative and tailored solutions.

James Graham | Orange County, CA
James advises insurance distribution and wealth management firms on M&A, capital raising, valuation and succession planning, with a focus on helping owners optimize outcomes in complex transactions. He works closely with founders, management teams and capital partners to develop tailored strategies that support growth, liquidity and long-term value creation. James also serves as a facilitator within MarshBerry’s executive peer exchange network, Connect, and publishes insights relevant to the insurance distribution marketplace.

Ujwal Goenka | Mumbai
Ujwal provides mergers and acquisitions (M&A) and growth equity advisory services in the healthcare sector for clients globally. He works closely with variety of clients that include private equity groups and high-growth companies seeking growth capital. He manages communication with clients, investors and potential buyers. Ujwal plays an active role in origination of new business and has led transaction execution for several companies in the healthcare sector, which include hospitals, medical devices, pharma and healthcare IT.

Sedat Irdelp | Frankfurt
Sedat is responsible for building and deepening relationships with leading financial sponsors and private equity firms investing across Germany and the DACH region. He advises clients on strategic investment opportunities and supports the sale and refinancing of portfolio companies. Over the course of his career, Sedat has led and advised on numerous sell-side M&A and debt advisory transactions

Scott Pollard | Atlanta
Scott is a Director in Lincoln’s Valuations & Opinions Group and leads the firm’s Atlanta office. He advises a wide range of alternative asset managers on valuing their illiquid positions, focusing on loans, subordinated and mezzanine debt, convertible debt and common and preferred equity. Scott has extensive experience in executing valuations of businesses and their underlying securities for tax, financial reporting and strategic planning purposes as well as performing decision support analyses for transactions under consideration. He provides alternative investment valuations for private equity funds, business development companies and venture capital funds.

Casey Pont | Cleveland, OH
Casey is a leader in the Financial Services Group and co-leads MarshBerry’s Sell-Side Practice, delivering M&A advisory services to independently owned businesses, private equity firms and portfolio companies across the insurance, wealth management and accounting & tax industries. Her experience spans sell-side and buy-side representation, capital raises, platform firm formations, perpetuation planning and compensation consulting. In addition to her M&A leadership, Casey leads two Strategic Issues Groups within MarshBerry’s executive peer exchange network, Connect.

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