Brian Garfield
Co-head of Lincoln International's U.S. Portfolio Valuation and Opinions Practice, providing valuation analytics and commentary on private capital markets and portfolio company performance.
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Feb 17, 2026 • 22min
Deal Making Dynamics & Valuations with Lincoln International
Lucas Weiss, a Chicago-based valuations lead, and Brian Garfield, co-head of U.S. portfolio valuation, discuss deal making momentum with 2025 multiples outpacing 2021. They cover rising refinancing and M&A activity. Conversation touches on portfolio EBITDA growth, borrower-friendly markets fueled by private credit dry powder, AI’s role in software underwriting, and normalization of junior debt spreads.
