Terminology Question: Mid cap v. middle market
Hey guys,
I have a pretty idiotic question -
What do people mean when they refer to private equity firms as being "low/mid/high cap"? I've been assuming that's basically a synonym for lower market/mid market/upper market, but am I wrong?
Why would you use one terminology instead of the other? I can understand the idea of pursuing mid cap companies, but using it for PE firms strikes me as odd.