Capital Market Valuation

In the lower middle market, where do you guys typically like to transact? And i'm sure it varies by industry, segmon a lot. Just sort of rough metrics, where are you trying to kind of land from an ebodo multiple standpoint? And then what are you seeing from a valuation standpoint of deals that get funded by institutional capital or institutional l ps, or whatever? Where do you typically see them being comfortable with hevaluation versus being uncomfortable?