2026 Search Fund Study: Selected Observations

By Peter Kelly, Stefanos Zenios, Dom Ng
2026 | Case No. E967 | Length 30 pgs.
The 2026 Search Fund Study reports on the financial returns and key characteristics of search funds formed in the United States and Canada since 1984. This report updates the previous 2024 study with data through December 31, 2025. The report also introduces data on 67 long duration enterprises.

Learning Objective

This study provides data to support the search fund community including current searchers, CEOs, investors and entrepreneurs evaluating whether they want to pursue a search fund.
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