Indices

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Lincoln Private Market Index

The Lincoln Private Market Index (LPMI) was introduced in 2017 as a first-of-its kind, quarterly index measuring changes in the EVs of private companies over time – and a barometer of the performance of private companies generally. The LPMI enables private equity (PE) firms and other investors to benchmark how private company investments are performing against peers, and how this performance correlates to the S&P 500.

Learn more about the LPMI

Lincoln Senior Debt Index

The Lincoln U.S. Senior Debt Index and the Lincoln European Senior Debt Index, which tracks the fair value of private market direct lending investments, is now published as the S&P Lincoln Senior Debt Index Series in collaboration with S&P Dow Jones Indices. Learn more about our collaboration with S&P Dow Jones Indices here or access the indices at S&P DJI.

Perspectives & Publications

In the Headlines: Lincoln’s Q4 2025 Indexes

Working Capital Adjustments and Tips to Mitigate M&A Disputes

Webinar | Q4 2025 European Private Market Insights

WSJ | New Benchmarks Aim to Pierce Opaque Private Credit Market

Fortune | In the $3 Trillion Private Credit Market, the ‘Shadow Default’ Rate is Increasing as More Money Chases Lower-Quality Deals

Lincoln International and S&P Dow Jones Indices Collaborate to Bring Enhanced Transparency to Private Credit Markets

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Recent Transactions in Valuations & Opinions

Lincoln International advised Sun Capital Affiliate on the completion of a Single-Asset Continuation Vehicle of Affiliated Portfolio Company Fletchers Solicitors

Business Services

Lincoln International advised Elysian Capital LLP on completing a single asset continuation vehicle transaction involving Fortis IBA

Business Services | Industrials

Lincoln International advised Android Industries and Avancez on its merge with Detroit Manufacturing Systems

Automotive & Mobility Technology

Lincoln International advised CapVest on the recapitalization of Curium

Lincoln International advised CVC on the extension of its partnership with Ahlsell

Lincoln International advised Astra Service Partners on the sale of Impact Service Group to Leo Facilities Maintenance, all portfolio companies of Alpine Investors

Business Services

Lincoln International advised ECI on the completion of a single asset continuation vehicle transaction involving CSL

Lincoln International advised CDH Investments on the completion of a multi-asset continuation vehicle transaction

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Meet Our Senior Team with Valuations & Opinions Expertise

I view working with clients as a partnership that is collaborative, insightful and transparent and deliver with the highest level of service, attention and execution.

Smitha Balasubramanian

Managing Director

Chicago

I enjoy navigating complex scenarios in real time to provide independent and trustworthy valuation advice.

Nick Baldwin

Managing Director

London

I enjoy being able to provide real value to clients by supporting them in the purchase price adjustment process, including the resolution of M&A disputes.

Charles Blank

Managing Director

New York

I find immense fulfillment in enabling clients to achieve their objectives and navigate the complexities of today's ever-changing landscape.

Chris Croft

Managing Director & Co-Head of Transaction Opinions

New York

I am committed to delivering ‘high touch’ client service and thoughtful advice, based on an analytical approach grounded in relevant transaction experience.

Michael Fisch

Managing Director

Chicago

I enjoy sharing insights about market and valuation trends with my clients, while also leading a differentiated and high-touch process.

Brian Garfield

Managing Director & Head of U.S. Portfolio Valuations

New York

I am happy to support our clients and their stakeholders by providing reliable valuation analyses and opinions that facilitate their strategic priorities.

Srividya Gopal

Managing Director

Dubai

I enhance my clients’ decision making and governance processes by providing independent and objective financial advice in a highly responsive manner.

Chris Gregory

Managing Director & Co-Head of Transaction Opinions

New York

Leading high-performing and engaged teams who share my enthusiasm for supporting client objectives with high quality work is a key motivator for me.

Varun Gupta

Managing Director

Mumbai

I find every day has a new opportunity or situation to solve. I seek to understand my clients’ point of view and how it fits with the market at the time of a valuation.

Neal Hawkins

Managing Director

Chicago

I am passionate about combining my background in capital markets and private credit transactions with sound valuation principles to provide clients with market-leading perspectives and advice.

Robert Horak

Managing Director

Chicago

I enjoy the opportunity to provide clients with insightful and unbiased advice that will help them make the most informed decisions possible.

Ron Kahn

Managing Director & Global Co-Head of Valuations & Opinions

Chicago

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