PartnerFacts
Data last updated: Oct 23, 2026, 5:45 PM ETLatest filing: Oct 22, 2026Now: Oct 24, 2026, 7:40 AM ET

Sponsor Check › Sponsor group

M

Middleground

One sponsor team, 17 deal companies · Lexington, KY

Grouped because: 3 shared people, 6 shared management entities, same business address (15 issuers), similar issuer names (17) (automatic match from the filings) · not the same sponsor?

17deal companies
$2.56Breported sold
231investors
28Form D filings
2019–2026active
3new, last 12 mo
Follow this sponsor groupLook further ↓

Data last updated Oct 23, 2026, 5:45 PM ET · Latest filing in this group Feb 26, 2026 · Courts (RECAP) last checked: Oct 24, 2026, 2:16 AM ET · SEC enforcement last checked: covered by the index scan as of Oct 24, 2026, 2:50 AM ET

The short version

Middleground is a sponsor group of 17 issuers that PartnerFacts links to one sponsor (shared people, shared management entity, same business address, similar issuer names; automatic match from the filings), filing 28 Form D filings between Jan 2019 and Feb 2026.

What this means One team, 17 deal companies, about 7 years of track record in SEC filings. We link the companies because the same people or address appear on their forms — tap "Request a correction" if that is wrong.

Combined reported sold: $2.56B to 231 investors (latest filing per issuer). Industries as reported: Pooled Investment Fund (17). Issuers are based in KY (16), LA (1).

What this means $2.56B raised across the group, about $11.1M per investor. Amounts come from each company's latest Form D; they are what the sponsor reported, not audited figures.

Principal people: John Stewart (17 issuers, executive officer), Lauren Mulholland (17 issuers, executive officer), MiddleGround Management, LP (17 issuers, executive officer and promoter, entity), Scot Duncan (16 issuers, executive officer), MiddleGround GP II, LP (8 issuers, director and promoter, entity) and 14 more.

What this means The person on the most companies is usually the one running the show; their page lists every deal.

Activity: 3 new offerings in the last 12 months; latest filing Feb 26, 2026.

What this means Busy — still raising money this year.

Adviser registration (Form ADV) on record: MIDDLEGROUND CAPITAL.

Public records searched: federal courts (CourtListener / RECAP), SEC enforcement releases, state securities regulators (AK, AL, AR, AZ, CA, CT, DE, FINRA, GA, HI, ID, IL, KS, KY, LA, MA, MD, ME, MI, MO, MS, MT, NASAA, NC, ND, NH, NM, NV, OK, OR, PA, RI, SC, SD, TN, TX, VT, WA, WI, WV, WY), property records (NYC, FL, IL and TX counties) — none found.

What this means Nothing turned up where we looked (4 sources). That does not prove there is nothing — it means none was found in those sources on that date.

We compared 28 public filings for Middleground and found 9 differences, 2 worth asking the sponsor about: Paid seller listed without a CRD number: First Avenue Partners LLP; 12 Form Ds were filed more than 15 days after the first sale; and more below.

What this means These are differences between the sponsor's own SEC filings — both values, dates and sources are listed in Key records, section 4. Most have ordinary explanations; ask the sponsor.

What the community is saying

Community search for Middleground has not run yet — it is joining a line of 25,525 names; searches run around the clock at the hosts' allowed rate. Searched so far: 638 names.

Community comments are quoted as written by their authors. Sources searched: BiggerPockets forums (via DuckDuckGo, Brave, Bing and BiggerPockets search) and Reddit (search feed + public archive).

Key records

Five things investors ask first. Items still in human review are counted, not shown.

1. Lawsuits

None found in sources searched — federal courts (CourtListener / RECAP), checked Oct 24, 2026

What was searched

Sources searched: CourtListener bulk data (RECAP dockets as of 2026-09-30; recall-first rule 10-24) — federal district + bankruptcy courts State courts: not covered (one-tap state court links under Look further). PACER: not searched. · Last checked Oct 24, 2026, 2:16 AM ET.

State courts: not covered (one-tap state court links under Look further). No state offers a lawful automated statewide source PartnerFacts can use today. Texas (re:SearchTX) terms prohibit storing results in a database open to third parties; New York (WebCivil) and Massachusetts (MassCourts) require a browser check that blocks scripted queries; California has no statewide index (58 county portals; Rule of Court 2.503 grants name-based access case by case); Florida, Utah and Illinois offer paid or partial access whose terms for automated use are unverified. Washington (dw.courts.wa.gov; bulk index reports under a JISC data-dissemination agreement), Delaware (CourtConnect; Court of Chancery not included) and Arizona (apps.azcourts.gov/publicaccess, which has an official channel to request high-volume access) are the candidates; PartnerFacts will request written permission before any automated search. Federal courts are searched through CourtListener / RECAP.

2. Regulatory actions

None found in sources searched — SEC enforcement releases (index scan as of Oct 24, 2026, 2:50 AM ET) · state securities regulators: VA (crawled Oct 23, 2026)

What was searched

SEC enforcement searched: SEC litigation releases and administrative proceedings — respondent names in the sec.gov index titles (30,205 releases, 1995-09-19 to 2026-10-23); release text is read only to confirm a candidate. Names that appear only in the body of a release are not found. — Searched SEC litigation releases and administrative proceedings (1995→ / 2007→) (30,205 records as of Oct 24, 2026, 2:50 AM ET) — nothing matched Middleground..

State securities regulators: Securities regulators searched (3,318 actions): AZ Corporation Commission Securities Division (411 actions, 2017–2026), CA DFPI (25 actions, 2007–2024; listing starts 2002 — 16 of 12,159 DFPI respondent pages read so far; sponsor-name matches are read first), DE DOJ Investor Protection Unit (257 actions, 1987–2026), TX State Securities Board (586 actions, 2006–2026), WA DFI (2,039 actions, 2001–2026) — last crawled Oct 23, 2026, 9:57 PM ET. No machine-readable public listing today for CO, FL, IA, IN, MN, NE, NJ, NY, OH, UT, VA (see docs/state-regulators.md).

3. Bankruptcies

None found in sources searched — federal bankruptcy courts (CourtListener / RECAP), checked Oct 24, 2026

What was searched

Sources searched: Federal bankruptcy courts via CourtListener / RECAP archive (federal district courts, federal bankruptcy courts). State courts: not covered (one-tap state court links under Look further). PACER: not searched (RECAP only). · Last checked Oct 24, 2026, 2:16 AM ET.

State courts: not covered (one-tap state court links under Look further). No state offers a lawful automated statewide source PartnerFacts can use today. Texas (re:SearchTX) terms prohibit storing results in a database open to third parties; New York (WebCivil) and Massachusetts (MassCourts) require a browser check that blocks scripted queries; California has no statewide index (58 county portals; Rule of Court 2.503 grants name-based access case by case); Florida, Utah and Illinois offer paid or partial access whose terms for automated use are unverified. Washington (dw.courts.wa.gov; bulk index reports under a JISC data-dissemination agreement), Delaware (CourtConnect; Court of Chancery not included) and Arizona (apps.azcourts.gov/publicaccess, which has an official channel to request high-volume access) are the candidates; PartnerFacts will request written permission before any automated search. Federal courts are searched through CourtListener / RECAP.

4. Differences between public sources

No comparisons published

What is compared

No public statement by this sponsor group has been collected yet, so there is nothing to compare. Sources compared: the sponsor's own website (known from the issuer's own filings — Form C issuer website, EDGAR company profile — an approved profile claim or Form ADV Item 1.I of its matched adviser) · SEC Form D · SEC Form ADV (IAPD) · Internet Archive · No website is on file for this sponsor group yet.

9 differences found between the filings for Middleground — 2 worth asking about (compared 28 filings on Oct 24, 2026)

Worth asking · Oct 3, 2025

Paid seller listed without a CRD number: First Avenue Partners LLP — MiddleGround Partners III, L.P.

First Avenue Partners LLP is listed as receiving sales compensation on 1 filing (Oct 3, 2025) with no FINRA CRD number given.

What this means People paid to sell securities normally hold a FINRA registration with a CRD number. Without one we cannot look them up on BrokerCheck. Ask who they are and whether they are registered.

Form D/A · Oct 3, 2025 ↗BrokerCheck search: First Avenue Partners LLP ↗MiddleGround Partners III, L.P. — PartnerFacts page ↗
Sources
Worth asking · Dec 20, 2018 – Feb 26, 2026

12 Form Ds were filed more than 15 days after the first sale

Form D filed 1,919 days after the first sale — MiddleGround Piston Co-Invest, L.P. · Form D filed 2,610 days after the first sale — MiddleGround Partners I, L.P. · Form D filed 716 days after the first sale — MiddleGround Mobility Opportunity Fund II, L.P. · Form D filed 106 days after the first sale — MiddleGround Cassette Co-Invest Partners, L.P. · Form D filed 100 days after the first sale — MiddleGround Protect Co-Invest Partners, L.P. · and 7 more

What this means Late notices are common and carry no penalty by themselves. A pattern of late paperwork is worth asking the sponsor about.

Form D · Feb 26, 2026 ↗MiddleGround Piston Co-Invest, L.P. — PartnerFacts page ↗Form D · Feb 11, 2026 ↗MiddleGround Partners I, L.P. — PartnerFacts page ↗
Sources
Note · Dec 20, 2018 – Oct 3, 2025

11 offerings have no amendment in the last 12 months and may still be open

No amendment in the last 12 months on an offering that may still be open — MiddleGround Partners III-X, L.P. (latest filing Oct 3, 2025) · No amendment in the last 12 months on an offering that may still be open — MiddleGround Partners III, L.P. (latest filing Oct 3, 2025) · No amendment in the last 12 months on an offering that may still be open — MiddleGround Apex Co-Invest Partners, L.P. (latest filing Oct 3, 2024) · No amendment in the last 12 months on an offering that may still be open — MiddleGround Carbon CV, L.P. (latest filing Nov 29, 2023) · No amendment in the last 12 months on an offering that may still be open — Middleground Dolphin Co-Invest Partners, L.P. (latest filing Apr 17, 2023) · and 6 more

What this means SEC rules expect a yearly amendment while an offering is still going. Ask the sponsor which of these raises have closed.

Form D/A · Oct 3, 2025 ↗MiddleGround Partners III-X, L.P. — PartnerFacts page ↗Form D/A · Oct 3, 2025 ↗MiddleGround Partners III, L.P. — PartnerFacts page ↗
Sources
Note · Apr 23, 2021 – Nov 13, 2025

Offering amount changed between filings — MiddleGround Partners II, L.P.

The Apr 23, 2021 filing says $650,000,000 offered; the Nov 13, 2025 Form D/A says $700,000,000.

What this means The target raise changed. Raising the cap is common when a deal grows; ask whether the extra money has the same terms and use.

Form D (earlier) · Apr 23, 2021 ↗Form D/A (later) · Nov 13, 2025 ↗MiddleGround Partners II, L.P. — PartnerFacts page ↗
Sources
Note · Oct 3, 2024 – Oct 3, 2025

Offering amount lowered between filings — MiddleGround Partners III, L.P.

The Oct 3, 2024 filing says $1,750,000,000 offered; the Oct 3, 2025 Form D/A says $1,176,000,000.

What this means The target raise got smaller. That can mean the plan shrank or the sponsor stopped early. Ask what changed in the deal.

Form D/A (earlier) · Oct 3, 2024 ↗Form D/A (later) · Oct 3, 2025 ↗MiddleGround Partners III, L.P. — PartnerFacts page ↗
Sources
Note · Aug 16, 2021 – Feb 26, 2026

Member companies list addresses in 2 different states

KY (16), LA (1).

What this means The same team filing from more than one place can mean an office move or deals held by different entities. Ask where the sponsor actually operates.

Middleground — sponsor group page ↗Middleground Dolphin Co-Invest Partners, L.P. — PartnerFacts page ↗
Sources
Note · Jan 3, 2019 – Feb 11, 2026

Issuer used a different name before — MiddleGround Partners I, L.P.

SEC records list prior names for this filer: Middleground Partners I, L.P.. The current name on file is "MiddleGround Partners I, L.P.".

What this means A name change is normal, but your documents may show the old name. Match the CIK, not just the name.

EDGAR filer page ↗MiddleGround Partners I, L.P. — PartnerFacts page ↗
Sources
Note · Apr 23, 2021 – Nov 13, 2025

Issuer used a different name before — MiddleGround Partners II-X, L.P.

SEC records list prior names for this filer: Middleground Partners II-X, L.P.. The current name on file is "MiddleGround Partners II-X, L.P.".

What this means A name change is normal, but your documents may show the old name. Match the CIK, not just the name.

EDGAR filer page ↗MiddleGround Partners II-X, L.P. — PartnerFacts page ↗
Sources
Note · Apr 23, 2021 – Nov 13, 2025

Issuer used a different name before — MiddleGround Partners II, L.P.

SEC records list prior names for this filer: Middleground Partners II, L.P.. The current name on file is "MiddleGround Partners II, L.P.".

What this means A name change is normal, but your documents may show the old name. Match the CIK, not just the name.

EDGAR filer page ↗MiddleGround Partners II, L.P. — PartnerFacts page ↗
Sources
What is compared

What is compared: every Form D and D/A we hold for this subject, side by side — filing dates vs. first-sale dates (the 15-day rule), amendment timing on open offerings (the yearly-amendment expectation), amounts sold, investor counts, offering amounts and minimums across amendments, industry and size bands, addresses, how each person's name and role is written, paid sellers' CRD numbers, and (for groups) where the member companies were formed and sit. Everything is as filed by the issuer; the SEC does not check it. Differences are common and usually have ordinary explanations — we show both values, the dates, and the source so you can ask. As of Oct 24, 2026.

5. Money to insiders

2 of 19 offerings report sales commissions totalling $5,215,000; 0 report finder's fees; 0 report proceeds to related persons. (includes amounts the issuer reported as estimates)

Offering (latest filing)Sales commissionsFinder's feesTo insidersPaid to sell itSource
Feb 26, 2026 D
MiddleGround Piston Co-Invest, L.P.
File 021-574880
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering material.
Credit Suisse Securities (USA) LLC BrokerCheck CRD 816 ↗EDGAR ↗
Feb 11, 2026 D
MiddleGround Partners I, L.P.
File 021-573264
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering material.
Credit Suisse Securities (USA) LLC BrokerCheck CRD 816 ↗EDGAR ↗
Nov 13, 2025 D/A
MiddleGround Mobility Opportunity Fund, L.P.
File 021-387456
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering material.
Credit Suisse Securities (USA) LLC BrokerCheck CRD 816 ↗EDGAR ↗
Nov 13, 2025 D/A
MiddleGround Partners II-X, L.P.
File 021-396871
$0$0$0Credit Suisse Securities (USA) LLC BrokerCheck CRD 816 ↗EDGAR ↗
Nov 13, 2025 D/A
MiddleGround Partners II, L.P.
File 021-396868
$4,500,000 (est.)$0$0Credit Suisse Securities (USA) LLC BrokerCheck CRD 816 ↗EDGAR ↗
Nov 13, 2025 D/A
MiddleGround Partners II FF, L.P.
File 021-407248
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering materials.
None listed on this filingEDGAR ↗
Nov 13, 2025 D
MiddleGround Mobility Opportunity Fund II, L.P.
File 021-563971
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering material.
None listed on this filingEDGAR ↗
Oct 3, 2025 D/A
MiddleGround Partners III, L.P.
File 021-493593
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering materials.
Lazard Freres & Co. LLC BrokerCheck CRD 2528 ↗
First Avenue Partners LLP no CRD number reported		EDGAR ↗
Oct 3, 2025 D/A
MiddleGround Partners III-X, L.P.
File 021-493599
$0$0$0Lazard Freres & Co. LLC BrokerCheck CRD 2528 ↗EDGAR ↗
Oct 3, 2024 D/A
MiddleGround Apex Co-Invest Partners, L.P.
File 021-493603
$0$0$0None listed on this filingEDGAR ↗
Nov 29, 2023 D
MiddleGround Carbon CV, L.P.
File 021-498378
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering materials.
None listed on this filingEDGAR ↗
Oct 2, 2023 D
MiddleGround Partners III FF, L.P.
File 021-493596
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering materials.
None listed on this filingEDGAR ↗
Apr 17, 2023 D
Middleground Dolphin Co-Invest Partners, L.P.
File 021-479109
$0$0$0None listed on this filingEDGAR ↗
Apr 7, 2023 D
MiddleGround Protect Co-Invest Partners, L.P.
File 021-478297
$0$0$0None listed on this filingEDGAR ↗
Apr 7, 2023 D
MiddleGround Cassette Co-Invest Partners, L.P.
File 021-478299
$0$0$0None listed on this filingEDGAR ↗
Oct 5, 2022 D
MiddleGround Copper Co-Invest Partners, L.P.
File 021-460743
$0$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering material.
None listed on this filingEDGAR ↗
Aug 16, 2021 D
Mobility Opportunity Fund, L.P.
File 021-410074
$715,000 (est.)$0$0
The Management Company will receive an annual management fee as outlined in the Issuer's offering material.
Credit Suisse Securities (USA) LLC BrokerCheck CRD 816 ↗EDGAR ↗
Apr 23, 2021 D
MiddleGround Partners II-X, L.P.
File 021-396869
$0$0$0Credit Suisse Securities (USA) LLC BrokerCheck CRD 816 ↗EDGAR ↗
Jan 3, 2019 D
MiddleGround Partners I, L.P.
File 021-329489
$0$0$0
The fund charges a management fee that is described in the fund's offering documents.
Credit Suisse Securities (USA) LLC BrokerCheck CRD 816 ↗EDGAR ↗
How this is counted

Counts come from Form D Items 12–15 on the filings in our index (latest filing per offering; one offering = one SEC file number; an amendment updates its offering rather than adding one). "To insiders" = gross proceeds used for payments to executive officers, directors or promoters. "—" = not reported on that filing. Amounts marked (est.) were reported as estimates. "Paid to sell it" = sales compensation recipients named on that filing (Item 12), each linked to FINRA BrokerCheck when a CRD number is reported.

Counted across all 17 issuers in this group — every filing in our index, latest filing per offering (SEC file number).

Property records 0 documents · 0 ownership records · last checked Oct 24, 2026, 7:40 AM ET · NYC and Cook County lookup still to run

0 recorded documents and 0 ownership records matched to Middleground in the sources searched.

Not found in sources searched as of Oct 24, 2026, 7:40 AM ET: Hillsborough County FL Clerk of Court Official Records daily index (publicrec.hillsclerk.com D/P/M files), 2 daily files (Oct 14, 2026 to Oct 15, 2026) — loaded Oct 23, 2026, 8:59 PM ET; Harris County TX (HCAD ownership rolls 2011–2026) — 822,715 records, loaded Oct 24, 2026, 7:40 AM ET; Dallas County TX (DCAD ownership roll 2026) — 173,688 records, loaded Oct 23, 2026, 8:58 PM ET; Hillsborough County FL (FL DOR 2026 ownership roll + Clerk recorded-document index Oct 14, 2026 to Oct 15, 2026), Miami-Dade County FL (FL DOR 2026 ownership roll) — 294,950 records, loaded Oct 23, 2026, 8:58 PM ET. Still to be looked up for this group: NYC ACRIS via NYC Open Data (Real Property Parties 636b-3b5g, Master bnx9-e6tj, Legals 8h5j-fqxa, Document Control Codes 7isb-wh4c) · NYC PLUTO ownership via NYC Open Data (64uk-42ks) · Cook County IL Assessor via Cook County Open Data (Parcel Sales wvhk-k5uv; Parcel Addresses 3723-97qp). Records in other counties, and recorder indexes we do not yet cover, were not searched.

Property records coverage: New York City (ACRIS recorded documents and PLUTO ownership, looked up per issuer when its page is viewed; re-checked when the page is viewed again more than 30 days after the last check); Harris County TX (ownership only, no deed, mortgage or sale records; HCAD ownership rolls 2011–2026); Dallas County TX (ownership only, no deed, mortgage or sale records; DCAD ownership roll 2026); Hillsborough County FL (FL DOR 2026 ownership roll + Clerk recorded-document index Oct 14, 2026 to Oct 15, 2026), Miami-Dade County FL (FL DOR 2026 ownership roll); Cook County IL (assessor ownership and deed/sale records, looked up per issuer when its page is viewed). Recorder indexes (party names on deeds, mortgages and liens) in TX, AZ, NV, CA and WA counties and outside the Clerk index in FL, mortgages and liens outside NYC and Hillsborough County, lis pendens and foreclosure notices everywhere, Los Angeles County CA, Clark County NV, King County WA (loader ready; first load not finished), Cook County IL bulk pass (not finished; per-issuer lookups only so far), New York City bulk pass (not finished; per-issuer lookups only so far), Maricopa County AZ (loader ready; commercial-purpose statement not yet filed), Salt Lake County UT, and all other counties are not covered — not searched. Last refresh by source: Harris County Appraisal District real_acct.txt Oct 24, 2026, 7:40 AM ET; Hillsborough County FL Clerk daily index Oct 23, 2026, 8:59 PM ET; Dallas Central Appraisal District ACCOUNT_INFO.CSV Oct 23, 2026, 8:58 PM ET; Florida DOR NAL roll (Dade 23) Oct 23, 2026, 8:58 PM ET; Florida DOR NAL roll (Hillsborough 39) Oct 23, 2026, 8:54 PM ET. NYC and Cook County are also looked up per issuer when its page is viewed; the most recent such lookup on this site finished Oct 24, 2026, 3:30 AM ET. Parties are named as the recorder's index names them (role suffixes as recorded); no address, account number or trust date is shown for an individual, and individual owners of record (home ownership) are not matched or shown. Items still in human review are not shown.

Issuers in this group

Why each issuer is here is stated in the "Linked by" column. Low-confidence links are never shown — they wait for human review.

SourceIssuerLinked byLocationIndustryFilingsSold (max)InvestorsMin. investment (latest filing)Active
EDGAR ↗MP MiddleGround Partners I, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund2$459,693,878
offering Indefinite · similar: $155,000–$5,250,000
31
similar: 4–27
$1,000,000
similar: $1,000–$100,000
2019–2026
EDGAR ↗MM MiddleGround Mobility Opportunity Fund, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund2$181,275,000
offering Indefinite · similar: $155,000–$5,250,000
1
similar: 4–27
$10,000,000
similar: $1,000–$100,000
2021–2025
EDGAR ↗MP MiddleGround Partners II-X, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund3$83,000,000
offering Indefinite · similar: $155,000–$5,250,000
4
similar: 4–27
$10,000,000
similar: $1,000–$100,000
2021–2025
EDGAR ↗MP MiddleGround Partners II, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund2$700,000,000
offering $700,000,000 · similar: $155,000–$5,250,000
27
similar: 4–27
$10,000,000
similar: $1,000–$100,000
2021–2025
EDGAR ↗MP MiddleGround Partners II FF, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund2$4,800,000
offering Indefinite · similar: $155,000–$5,250,000
19
similar: 4–27
$50,000
similar: $1,000–$100,000
2021–2025
EDGAR ↗MO Mobility Opportunity Fund, L.P.shared people, shared management entity, similar issuer namesLEXINGTON, KYPooled Investment Fund1$65,000,000
offering Indefinite · similar: $155,000–$5,250,000
2
similar: 4–27
$10,000,000
similar: $1,000–$100,000
2021–2021
EDGAR ↗MC MiddleGround Copper Co-Invest Partners, L.P.shared people, shared management entity, same business address, similar issuer namesLexington, KYPooled Investment Fund1$147,000,000
offering Indefinite · similar: $155,000–$5,250,000
20
similar: 4–27
$10,000,000
similar: $1,000–$100,000
2022–2022
EDGAR ↗MP MiddleGround Protect Co-Invest Partners, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund1$47,000,000
offering Indefinite · similar: $155,000–$5,250,000
10
similar: 4–27
$1,000,000
similar: $1,000–$100,000
2023–2023
EDGAR ↗MC MiddleGround Cassette Co-Invest Partners, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund1$9,000,000
offering Indefinite · similar: $155,000–$5,250,000
2
similar: 4–27
$1,000,000
similar: $1,000–$100,000
2023–2023
EDGAR ↗MD Middleground Dolphin Co-Invest Partners, L.P.shared people, shared management entity, similar issuer namesLEXINGTON, LAPooled Investment Fund1$16,340,000
offering Indefinite · similar: $155,000–$5,250,000
3
similar: 4–27
$1,000,000
similar: $1,000–$100,000
2023–2023
EDGAR ↗MP MiddleGround Partners III FF, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund1$0
offering Indefinite · similar: $155,000–$5,250,000
0
similar: 4–27
$50,000
similar: $1,000–$100,000
2023–2023
EDGAR ↗MP MiddleGround Partners III, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund3$262,620,000
offering $1,176,000,000 · similar: $155,000–$5,250,000
33
similar: 4–27
$1,000,000
similar: $1,000–$100,000
2023–2025
EDGAR ↗MP MiddleGround Partners III-X, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund3$23,500,000
offering Indefinite · similar: $155,000–$5,250,000
6
similar: 4–27
$1,000,000
similar: $1,000–$100,000
2023–2025
EDGAR ↗MA MiddleGround Apex Co-Invest Partners, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund2$4,000,000
offering Indefinite · similar: $155,000–$5,250,000
1
similar: 4–27
$1,000,000
similar: $1,000–$100,000
2023–2024
EDGAR ↗MC MiddleGround Carbon CV, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund1$394,037,237
offering Indefinite · similar: $155,000–$5,250,000
38
similar: 4–27
No minimum reported
similar: $1,000–$100,000
2023–2023
EDGAR ↗MM MiddleGround Mobility Opportunity Fund II, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund1$27,000,000
offering Indefinite · similar: $155,000–$5,250,000
5
similar: 4–27
$10,000,000
similar: $1,000–$100,000
2025–2025
EDGAR ↗MP MiddleGround Piston Co-Invest, L.P.shared people, shared management entity, same business address, similar issuer namesLEXINGTON, KYPooled Investment Fund1$130,830,909
offering Indefinite · similar: $155,000–$5,250,000
29
similar: 4–27
$1,000,000
similar: $1,000–$100,000
2026–2026

"Similar" = offerings in the same industry claiming the same exemption, filed in the last 5 years: Pooled Investment Fund / 506(b) (83,801 filings); ranges are the middle half (25th–75th percentile). Computed by PartnerFacts from SEC EDGAR Form D data as of Oct 23, 2026, 5:45 PM ET. Rows without a range: fewer than 30 comparable filings, or not a Rule 506 offering. No ranking or score.

Timeline of offerings

SourceFiledIssuerFormIndustryOfferedSold
EDGAR ↗Feb 26, 2026MiddleGround Piston Co-Invest, L.P.DPooled Investment FundIndefinite$130,830,909
EDGAR ↗Feb 11, 2026MiddleGround Partners I, L.P.DPooled Investment FundIndefinite$459,693,878
EDGAR ↗Nov 13, 2025MiddleGround Mobility Opportunity Fund, L.P.D/APooled Investment FundIndefinite$181,275,000
EDGAR ↗Nov 13, 2025MiddleGround Mobility Opportunity Fund II, L.P.DPooled Investment FundIndefinite$27,000,000
EDGAR ↗Nov 13, 2025MiddleGround Partners II FF, L.P.D/APooled Investment FundIndefinite$4,800,000
EDGAR ↗Nov 13, 2025MiddleGround Partners II-X, L.P.D/APooled Investment FundIndefinite$83,000,000
EDGAR ↗Nov 13, 2025MiddleGround Partners II, L.P.D/APooled Investment Fund$700,000,000$700,000,000
EDGAR ↗Oct 3, 2025MiddleGround Partners III-X, L.P.D/APooled Investment FundIndefinite$23,500,000
EDGAR ↗Oct 3, 2025MiddleGround Partners III, L.P.D/APooled Investment Fund$1,176,000,000$262,620,000
EDGAR ↗Oct 3, 2024MiddleGround Apex Co-Invest Partners, L.P.D/APooled Investment FundIndefinite$4,000,000
EDGAR ↗Oct 3, 2024MiddleGround Partners III, L.P.D/APooled Investment Fund$1,750,000,000$233,620,000
EDGAR ↗Oct 3, 2024MiddleGround Partners III-X, L.P.D/APooled Investment FundIndefinite$23,500,000
EDGAR ↗Nov 29, 2023MiddleGround Carbon CV, L.P.DPooled Investment FundIndefinite$394,037,237
EDGAR ↗Oct 2, 2023MiddleGround Apex Co-Invest Partners, L.P.DPooled Investment FundIndefinite$4,000,000
EDGAR ↗Oct 2, 2023MiddleGround Partners III-X, L.P.DPooled Investment FundIndefinite$0
EDGAR ↗Oct 2, 2023MiddleGround Partners III FF, L.P.DPooled Investment FundIndefinite$0
EDGAR ↗Oct 2, 2023MiddleGround Partners III, L.P.DPooled Investment Fund$1,750,000,000$0
EDGAR ↗Apr 17, 2023Middleground Dolphin Co-Invest Partners, L.P.DPooled Investment FundIndefinite$16,340,000
EDGAR ↗Apr 7, 2023MiddleGround Cassette Co-Invest Partners, L.P.DPooled Investment FundIndefinite$9,000,000
EDGAR ↗Apr 7, 2023MiddleGround Protect Co-Invest Partners, L.P.DPooled Investment FundIndefinite$47,000,000
EDGAR ↗Oct 5, 2022MiddleGround Copper Co-Invest Partners, L.P.DPooled Investment FundIndefinite$147,000,000
EDGAR ↗Aug 16, 2021Mobility Opportunity Fund, L.P.DPooled Investment FundIndefinite$65,000,000
EDGAR ↗Jul 22, 2021MiddleGround Partners II FF, L.P.DPooled Investment FundIndefinite$2,240,000
EDGAR ↗Apr 23, 2021MiddleGround Partners II-X, L.P.DPooled Investment FundIndefinite$23,000,000
EDGAR ↗Apr 23, 2021MiddleGround Partners II, L.P.DPooled Investment Fund$650,000,000$321,500,000
EDGAR ↗Apr 23, 2021MiddleGround Partners II-X, L.P.DPooled Investment FundIndefinite$23,000,000
EDGAR ↗Jan 27, 2021MiddleGround Mobility Opportunity Fund, L.P.DPooled Investment FundIndefinite$20,000,000
EDGAR ↗Jan 3, 2019MiddleGround Partners I, L.P.DPooled Investment FundIndefinite$140,000,000

Activity: 3 new offerings in the last 12 months across all issuers in this group (new offering = a Form D that is not an amendment, D/A) · most recent filing Feb 26, 2026. Industry history, as reported on each offering's latest filing: All 19 offerings reported: Pooled Investment Fund (2019–2026).

People across the group

NameRolesIssuers hereFirst → last listed
JS John StewartExecutive Officer17Jan 3, 2019 → Feb 26, 2026
MM MiddleGround Management, LP entityPromoter, Executive Officer17Jan 3, 2019 → Feb 26, 2026
LM Lauren MulhollandExecutive Officer17Jan 3, 2019 → Feb 26, 2026
SD Scot DuncanExecutive Officer16Jan 3, 2019 → Feb 26, 2026
MG MiddleGround GP II, LP entityPromoter, Director8Apr 23, 2021 → Nov 13, 2025
MG MG GP III Holdings, LLC entityPromoter3Oct 2, 2023 → Oct 3, 2025
MG MiddleGround GP III, LP entityPromoter3Oct 2, 2023 → Oct 3, 2025
MM MiddleGround Mobility Fund GP, LP entityPromoter2Jan 27, 2021 → Nov 13, 2025
MH MCGP Holdings, LLC entityPromoter2Apr 7, 2023 → Apr 17, 2023
MP MiddleGround Piston Co-Invest GP, LLC entityPromoter1Feb 26, 2026 → Feb 26, 2026
MP MiddleGround Partners I GP, L.P. entityPromoter1Feb 11, 2026 → Feb 11, 2026
MM MiddleGround Mobility Fund II GP, LP entityPromoter1Nov 13, 2025 → Nov 13, 2025
MG MG GP II Holdings, LLC entityPromoter1Oct 2, 2023 → Oct 3, 2024
MC MiddleGround Carbon GP, L.P. entityPromoter1Nov 29, 2023 → Nov 29, 2023
MC MG CV Holdings, LLC entityPromoter1Nov 29, 2023 → Nov 29, 2023
MH MGCP Holdings, LLC entityPromoter1Apr 7, 2023 → Apr 7, 2023
SD Scott DuncanExecutive Officer1Oct 5, 2022 → Oct 5, 2022
MG MiddleGround GP I, L.P. entityExecutive Officer1Jan 3, 2019 → Jan 3, 2019
MG MiddleGround GP I Holdings, LLC entityExecutive Officer1Jan 3, 2019 → Jan 3, 2019

Adviser registration (Form ADV)

MIDDLEGROUND CAPITAL (legal name: MIDDLEGROUND MANAGEMENT, LP) — SEC-registered investment adviser · SEC registration status as reported: “Approved” since Jun 15, 2018 · SEC file 801-113431 · Main office: LEXINGTON, KY · IAPD record ↗ · Form ADV filing (PDF) ↗

Regulatory assets under management: $3,887,849,106 as reported on Form ADV filed May 21, 2026 (Item 5.F(2)(c)) · 24 accounts (Item 5.F(2)(f))

Websites listed on Form ADV (Item 1.I): www.linkedin.com/company/middlegroundcapital ↗

Item 11 disclosure questions as answered on Form ADV filed May 21, 2026: 0 of 24 answered “Yes”
  • No — Form ADV Item 11 asks: “Do any of the events below involve you or any of your supervised persons?”
  • No — Form ADV Item 11A(1) asks: “A. In the past ten years, have you or any advisory affiliate: (1) been convicted of or pled guilty or nolo contendere ("no contest") in a domestic, foreign, or military court to any felony?”
  • No — Form ADV Item 11A(2) asks: “A. (2) been charged with any felony?”
  • No — Form ADV Item 11B(1) asks: “B. In the past ten years, have you or any advisory affiliate: (1) been convicted of or pled guilty or nolo contendere ("no contest") in a domestic, foreign, or military court to a misdemeanor involving: investments or an investment-related business, or any fraud, false statements, or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these offenses?”
  • No — Form ADV Item 11B(2) asks: “B. (2) been charged with a misdemeanor listed in Item 11.B(1)?”
  • No — Form ADV Item 11C(1) asks: “C. Has the SEC or the Commodity Futures Trading Commission (CFTC) ever: (1) found you or any advisory affiliate to have made a false statement or omission?”
  • No — Form ADV Item 11C(2) asks: “C. (2) found you or any advisory affiliate to have been involved in a violation of SEC or CFTC regulations or statutes?”
  • No — Form ADV Item 11C(3) asks: “C. (3) found you or any advisory affiliate to have been a cause of an investment-related business having its authorization to do business denied, suspended, revoked, or restricted?”
  • No — Form ADV Item 11C(4) asks: “C. (4) entered an order against you or any advisory affiliate in connection with investment-related activity?”
  • No — Form ADV Item 11C(5) asks: “C. (5) imposed a civil money penalty on you or any advisory affiliate, or ordered you or any advisory affiliate to cease and desist from any activity?”
  • No — Form ADV Item 11D(1) asks: “D. Has any other federal regulatory agency, any state regulatory agency, or any foreign financial regulatory authority: (1) ever found you or any advisory affiliate to have made a false statement or omission, or been dishonest, unfair, or unethical?”
  • No — Form ADV Item 11D(2) asks: “D. (2) ever found you or any advisory affiliate to have been involved in a violation of investment-related regulations or statutes?”
  • No — Form ADV Item 11D(3) asks: “D. (3) ever found you or any advisory affiliate to have been a cause of an investment-related business having its authorization to do business denied, suspended, revoked, or restricted?”
  • No — Form ADV Item 11D(4) asks: “D. (4) in the past ten years, entered an order against you or any advisory affiliate in connection with an investment-related activity?”
  • No — Form ADV Item 11D(5) asks: “D. (5) ever denied, suspended, or revoked your or any advisory affiliate's registration or license, or otherwise prevented you or any advisory affiliate, by order, from associating with an investment-related business or restricted your or any advisory affiliate's activity?”
  • No — Form ADV Item 11E(1) asks: “E. Has any self-regulatory organization or commodities exchange ever: (1) found you or any advisory affiliate to have made a false statement or omission?”
  • No — Form ADV Item 11E(2) asks: “E. (2) found you or any advisory affiliate to have been involved in a violation of its rules (other than a violation designated as a "minor rule violation" under a plan approved by the SEC)?”
  • No — Form ADV Item 11E(3) asks: “E. (3) found you or any advisory affiliate to have been the cause of an investment-related business having its authorization to do business denied, suspended, revoked, or restricted?”
  • No — Form ADV Item 11E(4) asks: “E. (4) disciplined you or any advisory affiliate by expelling or suspending you or the advisory affiliate from membership, barring or suspending you or the advisory affiliate from association with other members, or otherwise restricting your or the advisory affiliate's activities?”
  • No — Form ADV Item 11F asks: “F. Has an authorization to act as an attorney, accountant, or federal contractor granted to you or any advisory affiliate ever been revoked or suspended?”
  • No — Form ADV Item 11G asks: “G. Are you or any advisory affiliate now the subject of any regulatory proceeding that could result in a "yes" answer to any part of Item 11.C., 11.D., or 11.E.?”
  • No — Form ADV Item 11H(1)(a) asks: “H. (1) Has any domestic or foreign court: (a) in the past ten years, enjoined you or any advisory affiliate in connection with any investment-related activity?”
  • No — Form ADV Item 11H(1)(b) asks: “H. (1)(b) ever found that you or any advisory affiliate were involved in a violation of investment-related statutes or regulations?”
  • No — Form ADV Item 11H(1)(c) asks: “H. (1)(c) ever dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or any advisory affiliate by a state or foreign financial regulatory authority?”
  • No — Form ADV Item 11H(2) asks: “H. (2) Are you or any advisory affiliate now the subject of any civil proceeding that could result in a "yes" answer to any part of Item 11.H(1)?”

Answers as filed by the adviser on Form ADV Part 1A, Item 11; question text quoted from the form. Details of each “Yes” are in the Disclosure Reporting Pages of the Form ADV (PDF) ↗.

Matched on management entity listed on Form D = adviser legal name, business address on Form ADV = address on Form D · Form ADV data: SEC Investment Adviser Information Report (SEC-registered advisers), file dated 2026-10-02, loaded Oct 23, 2026, 8:39 PM ET · IAPD record last checked Oct 23, 2026, 8:36 PM ET

Meta advertising

No Meta Pixel ids or Facebook / Instagram page links on file for Middleground as of Oct 24, 2026 — the sponsor website is read for them once it is on file (runs automatically). Meta Ad Library: not searched by PartnerFacts (no API access); a one-tap Ad Library search is under Look further.

Other offering types (Regulation A and Regulation Crowdfunding)

Searched SEC Regulation A Data Sets (Forms 1-A, 1-K, 1-Z; 2015 Q2 → 2026 Q3); SEC Crowdfunding Offerings Data Sets (Form C family; 2016 Q2 → 2026 Q3); EDGAR form index for 2026 Q3 → 2026 Q4 (51,358 records as of Oct 23, 2026, 8:41 PM ET) — nothing matched this name.

Public profiles and social

No website or social profile named in Middleground's SEC filings (Form C, Reg A, Form ADV; checked Oct 24, 2026). Web search for this name: #53,698 of 374,652 in line (1,298 issuers searched so far). One-tap searches: Look further ↓

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