Buyouts quoted McGuireWoods partner Jon Finger in a June 1, 2026, article examining the continued growth of the independent sponsor market and increasing investor interest in emerging private equity managers despite challenging fundraising conditions. The coverage highlights McGuireWoods’ role as a leading source of market intelligence and connectivity for emerging managers, independent sponsors and the investors seeking differentiated private market opportunities.
Finger, who leads the firm’s Emerging Manager Program, told Buyouts that the independent sponsor market now includes approximately 1,400 firms, a figure he believes has roughly doubled since McGuireWoods began tracking the segment in 2019. The article noted that new firms continue to enter the market even as private equity fundraising remains difficult and many established managers face challenges raising new capital. As an industry leader in advising emerging managers and independent sponsors and connecting limited partners (LPs) to such opportunities, McGuireWoods continues to have a front-row view into the fundraising trends, manager evolution and investor preferences shaping the market.
The publication also highlighted McGuireWoods’ annual Emerging Manager Conference, which Finger founded and leads. The conference has become one of the premier gathering places for LPs seeking access to emerging managers across private equity and adjacent strategies. The April 2026 event attracted approximately 1,000 attendees and featured more LPs than general partners (GPs) for the first time, while international LPs more than doubled compared with prior years, indicating the growth and appetite in the market.
“There was a big international component and that is a big change,” Finger said. “We had German, Swiss and other international family offices … we had a handful of the pensions from Australia and New Zealand.”
According to Finger, the growing international presence demonstrates the expanding appeal of emerging managers and independent sponsors beyond traditional U.S. investor bases.
“This isn’t just the playground for the U.S.-based endowments,” Finger said. “There’s been an explosion of international LPs looking to get into first-, second-time mid-market U.S.-based funds.”
Finger also noted that investors showed particular interest in firms raising funds in the $250 million to $500 million range, especially those pursuing specialized strategies in industrials, aerospace and defense, transportation and other niche sectors.
The article further explored the characteristics that attract LP attention to new private equity firms. Finger emphasized the importance of experience, track record and institutional pedigree.
“Groups that for a good period of time were independent sponsors built brands, built portfolios and then decided to raise funds,” Finger said. “[That] pedigree and then pedigree from the groups spinning out from [established firms, as well as] the pedigree of the blue-chip private equity firm, the professional in their mid-40s who wants to do their own thing and be the owner – those things drive interest the most.”
The trends highlighted reflect a broader shift occurring across private markets, as institutional investors increasingly seek differentiated managers and specialized strategies to generate returns. Through its conferences, research, industry relationships and market connectivity, McGuireWoods continues to serve as a trusted and go-to resource for LPs looking to identify the next generation of private market opportunities and for managers seeking to build enduring investment platforms.
Today’s investors are demanding flawless execution, institutional discipline, and deep long-term alignment from emerging managers. Driving these critical conversations sits at the heart of the McGuireWoods Emerging Manager Program, which continues to champion GPs through powerful industry connections, sharp thought leadership, and curated introductions to institutional capital providers.
Looking ahead:
- The upcoming McGuireWoods Emerging Manager Conference — Beyond Buyouts on Sept. 1–2, 2026, in Dallas, will bring together emerging managers and LPs across growth equity, private credit, venture capital, real assets, public equities and other non-buyout strategies for a dedicated multi-strategy forum. Registration is now open.
- The upcoming McGuireWoods Independent Sponsor Conference on Oct. 27-28, 2026, in Dallas, will bring together independent sponsors and capital providers from around the world for two days of purposeful engagement. Registration is now open.
- The next McGuireWoods Emerging Manager — Buyouts Conference is scheduled for April 6-7, 2027, in Dallas, bringing together emerging managers and LPs across buyout strategies.
- Help shape the insights that drive the independent sponsor community. McGuireWoods’ Independent Sponsor Deal Survey is returning with updated insights into today’s independent sponsor landscape, including deal structures and sponsor economics, transaction activity, and evolving market dynamics. Participation will contribute to one of the industry’s most recognized benchmarking resources. Click here for the survey.
- McGuireWoods and Taproot Capital launched a first-of-its-kind survey focused on how LP capital is moving in today’s evolving fundraising environment. The resulting 2026 Emerging Manager Capital Formation Report will provide benchmark insights on fundraising trends, LP demand and opportunities across the buyout landscape. Participate and receive the published results by completing the Survey Interest Form.