Middle-market dealmakers have toned down their expectations about the impact of the Trump administration, according to a survey from the Association for Corporate Growth (ACG) New York. At the end of 2016, 79% of respondents to the ACG New York survey anticipated that the incoming president would have a positive impact on private equity’s ability to raise capital. In the current midyear survey, only 37% believe the same, with another 52% expecting no impact resulting from the Trump administration.