Middle market private equity firm
The Vistria Group
- HeadquartersChicago, IL S1
- Founded2013 S1
- Websitevistria.com
- Last verifiedOctober 20, 2026
At a glance
| Latest fund | Vistria Fund V, $3B (Jan 2025) S4 |
|---|---|
| EBITDA range | $10M to $100M S1 |
| Deal types | Platform, Add-on S1 |
| Geography | United States S1 |
| Sectors | Healthcare Services, Education, IT Services & MSP, Wealth Management, Insurance Brokerage, Dental |
What The Vistria Group buys
The Vistria Group is a Chicago private equity firm, started in 2013, whose flagship funds make control investments in U.S. middle market companies with roughly $10 million to $100 million of EBITDA. It works in three industries: healthcare, knowledge and learning (education and services for schools and public agencies), and financial services such as wealth management, retirement and benefits, and insurance. The firm leans on policy and regulatory know-how and looks for companies that do social good as well as earn returns.
Vistria closed its fifth flagship fund at $3 billion in January 2025. It also runs a credit fund and an affordable housing real estate strategy, which this profile leaves out. Owners below the EBITDA floor are most likely to meet Vistria as an add-on to a company it already owns, such as ESS, which bought the tutoring provider HeyTutor in September 2026, or Curi Capital, which plans to buy other wealth managers.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Oct 2026 | Curi CapitalStrategic investment in a Chicago investment adviser with more than $14 billion of client assets, announced in August; employee owners and existing holders stay invested | Investment | Wealth Management | Source |
| Sep 2026 | HeyTutorTutoring and academic intervention provider added to ESS | Add-on | Education | Source |
| Feb 2026 | Lumen HoldingsDallas managing general agent writing commercial and personal property and casualty lines in more than 30 states | Platform | Insurance Brokerage | Source |
| Mar 2025 | MedalogixCombined with Forcura under majority owner Berkshire Partners; Vistria stays as the largest minority shareholder | Minority | Software & SaaS | Source |
| Jan 2025 | Vistria Fund VFinal close at $3 billion, the firm's largest private equity fund | Fund close | Source |
Portfolio by sector
From the firm's portfolio page S2.
Financial Services
- BriteCap
- Daybright Financial
- FloresHR
- Lumen
- The Mather Group (TMG)
- Treliant
Healthcare
- AIS Healthcare
- Alacura
- Alcami
- AllyGPO
- AnewHealth
- Angel MedFlight
- Beacon Specialized Living
- Behavioral Health Group
- BioCare
- CareMetx
- Chiro One
- Help at Home
- Medalogix
- Mission Healthcare
- Ora
- PANTHERx Rare
- Rock Dental Brands
- Sandstone Care
- SCA Pharma
- Supplemental Health Care
- tango
- VitalCaring Group
Knowledge & Learning
- Edmentum
- ESS
- MGT Consulting
- Really Great Reading
- RisePoint
- Sleep Doctor
- Soliant
- The Gardner School
- Unitek Learning
- University of Phoenix
- Vanta Education
Greymont’s take
How The Vistria Group fits a seller
Vistria fits owners in regulated, people-heavy fields such as home health, behavioral health, K-12 services, public sector IT and wealth management who want a buyer that understands the policy side of their business. Its flagship funds take control, but deals can be shared: Curi Capital's employee owners and existing shareholders stayed invested alongside Vistria, and in the 2025 Medalogix combination Vistria moved to a large minority stake behind Berkshire Partners.
A smaller company will usually meet Vistria as an add-on to one of its roughly 40 current holdings. Owners should ask whether an offer comes from the flagship equity fund or the separate credit fund, since the credit fund lends or buys preferred equity rather than buying the company, and how much of the business the founders would keep.
Questions owners ask
Does Vistria invest in IT services companies?
Yes, through MGT, a Tampa-based technology and consulting business for state, local and education clients that Vistria backed in 2023. MGT handles network administration, cybersecurity and cloud services for schools and public agencies.
How large a company does Vistria look for?
Its flagship funds make control investments in U.S. middle market companies with about $10 million to $100 million of EBITDA. Smaller businesses usually fit as add-ons to one of its current companies.
Does Vistria buy wealth management firms?
Yes. Its financial services team backs wealth managers, retirement and benefits firms and insurance businesses. Examples include The Mather Group and Curi Capital, a Chicago adviser with more than $14 billion of client assets, whose deal closed in October 2026.
Sources
- S1The Vistria Group home page Accessed October 20, 2026
- S2The Vistria Group: Portfolio Accessed October 20, 2026
- S3The Vistria Group: Perspectives (news) Accessed October 20, 2026
- S4The Vistria Group Closes on $3 Billion for Fifth Flagship Private Equity Fund (January 9, 2025) Accessed October 20, 2026
- S5The Vistria Group Announces Strategic Partnership with MGT Solutions (May 10, 2023) Accessed October 20, 2026
- S6The Vistria Group Builds for Its Next Chapter with Flagship Leadership Appointments (March 2026) Accessed October 20, 2026
- S7Curi Capital Partners with Vistria for Strategic Investment (August 25, 2026) Accessed October 20, 2026
- S8The Vistria Group releases on PR Newswire Accessed October 20, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with The Vistria Group. Figures are as reported on the dates shown and may have changed. Request a correction