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Content preview: PitchBook Newsletters Carlyle CEO: Don't sleep on wartime
risk; PE execs flee to credit, secondaries; a history of pension fund misconduct
April 15, 2026 | Read online | Manage your subscription The Daily Pitch PE,
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<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_579798" id=3D"n_579798" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
<table lang=3D"x-news-group-title" cellpadding=3D=
"0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;=
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<td><span class=3D"outlook-caption-override" s=
tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
font-weight=
: 500; font-size: 20px; line-height: 26px;"> VC's 2026 barrels toward recor=
d despite non-AI sluggishness </span></td>
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</tbody>
</table></td>
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<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
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<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By =
Kyle Stanford, Director of US Venture Research</i><br><br>
The US VC market in Q1 continued to show a b=
ifurcation that runs deep.<br><br>
Deals below $100 million each represented $2=
4.5 billion overall, or around 9% of the quarter's total deal value, accord=
ing to our latest <a href=3D"https://url6380.news.pitchbook.com/uni/ls/clic=
k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVgMPzcHtnzw9qgL-2F=
pqwUS2z5lyJjwwkXllBx9NgA4cxg-3D-3DgSeb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBR=
FCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2=
BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSn=
o-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj=
71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0ZPbpbZkjD53do1CCZHOXfiuRg6cnk6JOzey=
YS0OigKKyhul-2BrgGR9i6U-2BTqbcgzPWfshQtDeXfbAlTKFMnJ-2FT7Y96TraNUDUuFr-2FSU=
q2i9iCAkA5sKhMTbSCLZLlAbShguD6MwjXTWsc1CWmfCtfiCFO-2FaxfMiT9OBug6VRXdwkkPZ6=
OiFtAa3K7Lo2LQlizZDjI6MF6AgAIdWpz52dke-2FVBczBp9MZmDy4GPM1ZVMcxn3qZnqd2tgyq=
eH5Q6XhTQ74uNwNDBg-2F8b71xztyKuE-3D" style=3D"color: #1D5080;" test=3D"" un=
iversal=3D"true"><b>PitchBook-NVCA Venture Monitor</b></a>. But the five la=
rgest transactions raised eight times that amount, making it clear that con=
centration has overtaken diversification.<br><br>
The driving force behind much of this shift =
is AI, which now accounts for 45% of total US VC market value.<br><br>
The fear of missing out on the next Anthropi=
c has pushed investors into deals at higher prices on a much faster timelin=
e. AI companies are raising rounds more than half a year sooner than their =
non-AI counterparts, with valuation step-ups exceeding 2.2x.<br><br>
Overall VC dealmaking hit record territory, =
but with a big asterisk. OpenAI's $122 billion financing alone is larger th=
an the US VC deployed in all but a single quarter in history.<br><br>
The total deal value of over $267 billion in=
Q1 has already surpassed most annual totals, trailing only 2021 and 2025. =
Those marks will likely fall before summer.</td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
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<td align=3D"center" style=3D"text-align: cen=
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d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVgMPzcHtnzw9qgL-2FpqwUS2T7lD33F=
Trq-2FBCRAy5ZNPjA-3D-3DRnF6_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t=
1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGk=
mDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2=
BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlg=
lx96I7pEZkbGJ5AoruVKgxnoaDgW0QM3sRBMsvONkVYPzqwhhWpS2xWaY-2B7HdZKfrX1IhuD5Q=
QL3Dd1dHxKgSeFSnbYLYGuWkY4jDY5omg90wBH4oUma-2Fi-2Fb37xVV7AQGA0It-2B3vspng7j=
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HpElQ3cTaUX7Xt36u6q6QN47fhWCNq-2Bmr5P7cCSes0DyulrRn8KxezRJ8ApeMPmIME17c2emh=
ZsZ-2B-2BCsE-2FkRbW-2BDXKg359Xs-3D" universal=3D"true"> <img align=3D"cente=
r" alt=3D"" src=3D"https://img.pitchbook.com/news/73769.png" style=3D"borde=
r: none; width: 100%; height: auto;"> </a></td>
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<td style=3D"height: 20px; line-height: 20px"=
> </td>
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">
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<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Zoomin=
g back in, the bifurcation is also visible across stages.<br><br>
The median Series A valuation reached $62 mi=
llion in Q1=E2=80=94nearly triple the $21 million recorded in 2020. Yet, Se=
ries A deals for AI startups were completed at a median valuation of $78 mi=
llion, while other companies had a median valuation of just $42.4 million. =
This trend extends into later funding stages.<br><br>
Ultimately, the result is a VC market that's=
increasingly defined by velocity at the top and stagnation everywhere else=
.<br><br>
Capital is abundant for the perceived winner=
s=E2=80=94for the rest, the path forward remains uncertain. With liquidity =
scarce and firms' own fundraising subdued, the sustainability of current de=
almaking dynamics should be a major consideration moving forward.</td>
</tr>
</tbody>
</table>
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click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVgMPzcHtnzw9qg=
L-2FpqwUS2nxJejQzLpOYGKS-2Fw-2FHxM5Q-3D-3DyFCl_I3w5d9c01gkD8gLzFEofZR-2Bh6V=
warHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHj=
RDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3=
QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8het=
GgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0eC1z2NuLVSPiMLGhWsuX5fSrj0T=
OX-2BXDap5guMCFem90sNft-2B65s8LjkJypWhqtiIhnFoKIxGGQbt9LcXkJT5N1oQKyrzbm6z-=
2Bh8AQkk9wfVQdp0qZVWwK58CRPPWu-2FYblnVQe7c14iqyK0LSmbSE2rpxgQ0opVvQlDa6QQWW=
wXfT1MtImACnksFIGflP2ma5QyN2KNNjZeIVuQ3Uhd4-2FzOz0bH0rQfcXbql5UR3whLV7MX8Wx=
D4MPP-2FEj5Kq2iXXYHhSZhAUKWLkGcuG3bUhs-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Through the Looking Glass: The Race to Build Enter=
prise AI</a></b></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Catch Up Quick</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80=
=A2 <b>A deal drought is driving PE executives toward credit and secondarie=
s</b>=E2=80=94but returning to buyouts may become less straightforward over=
time. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00=
1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrS6fDU=
J-2FCA68N9ucWhBrbBw-3D-3DqvTk_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F=
3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBR=
GkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn=
-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BW=
lglx96I7pEZkbGJ5AoruVKgxnoaDgW0UF6bsprhxMCYlNYtERbWiu6HAMFWjozI-2B66dVvncLw=
bd2QhoyhuO6fma6R5rRZEm1TyJCcTCoki024xkGDx7g-2FYlZoQ-2Be6tPPXmhNDFStuEDoENsR=
ZPc5jP9i1HokHt-2BdeVAx-2BWVEoHwvShPobP2D2sMUIjiOOxAFChDxrF5EPkV6454SI7sGIE8=
AxW-2Fzse-2BceENCCBBzHxp2vZVI-2B2eZ-2BA25pfo8kGACnXYmMMFGcBjdDCeaGdSs4Jp52d=
HoLeq1eqV4rxAwnghpQS-2F1cCSCE-3D" style=3D"color: #1D5080;" test=3D"" unive=
rsal=3D"true"><b>Read more</b></a><br><br>
=E2=80=A2 <b>Pension fund misconduct has a d=
eep historical precedent</b>. While the nature of the allegations against t=
wo executives at Iowa's largest public pension plan hasn't yet been disclos=
ed, the incident ventures into familiar territory. <a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrJo3-2FWvlhd2PXRGl0RqVz5g-3D-3DfDQx_I=
3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4Qw=
FZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0=
feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9L=
rWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0=
WWh9beMsIarYu-2B29ueJX-2F4dNDTHbwbzpig91CmKFub5ck1GwMHqeThhlE1ugip7UWuDlk55=
5ffraFFNZPNP-2Bi01MSqzTet6YYG2ZxxbyCapsYvXETD7fhBc2BRtvRcMdrVcs-2B4KD9IodKb=
YBQxSxyNo2KY3t8R-2BQBC5wHu5M8U4MGgE67XgbRVnW1waWiFTfVkcCD-2Fx3aPPbtPypENd4a=
FigJgxvCUBqL-2FPCITbPfPlMeA4c4v03psa5TqUkfLJMKI1PZxCofJBKtGJy-2BKlbjI-3D" s=
tyle=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Here's the backgro=
und</b></a><br><br>
=E2=80=A2 <b>Healthcare surged to displace t=
echnology</b> as the sector receiving the largest share of direct lending d=
eployment, in a notable shift. <a href=3D"https://url6380.news.pitchbook.co=
m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUe=
gA9BP9xvdML-2Br7TgrHS-2FumxQVjCkZY642h8JFRg-3D-3D6cvM_I3w5d9c01gkD8gLzFEofZ=
R-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2=
Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXq=
tMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkC=
Z9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0aRZvkTh0GTLRTxxSOs-2=
FX7aDJaLt1jjtY1lJrg4ahJxki8LOb6WKI63vNFrHzEZUbdZhHsmMbhKcyWxnYbeWKPLJU457SW=
TpItx4YI6OYQlG1ALWflhpTZ1mtsJmWYN9tZ6vPlB2yu4gmQMYl4D-2F8Aq78379ZGFwXaKTNF8=
lPoRfrFkVtHmqbr5q-2BKk5mxcRSm5daIONo0bWUVrL5gKNQorVQW0hDFG7wFbzyjwdgrqxj4Jg=
2NPV-2ByCUfMQF8dq4HstlCrQzi-2FvMwVv1wP25YLY-3D" style=3D"color: #1D5080;" t=
est=3D"" universal=3D"true"><b>Learn more</b></a></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_579477" id=3D"n_579477" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
<table lang=3D"x-news-group-title" cellpadding=3D=
"0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;=
">
<tbody>
<tr>
<td><span class=3D"outlook-caption-override" s=
tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
font-weight=
: 500; font-size: 20px; line-height: 26px;"> Carlyle CEO warns of geopoliti=
cal-risk complacency </span></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100=
%;">
<tbody>
<tr>
<td valign=3D"top">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
<tbody>
<tr>
<td align=3D"center">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" style=3D"float: none;
">
<tbody>
<tr>
<td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrPrlg8Dy=
l80U7u5qMIxzmCA-3D-3DFis__I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y=
ZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmD=
nb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BI=
UG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx=
96I7pEZkbGJ5AoruVKgxnoaDgW0caSHth9LwN2xkmA1QK2GdFcxB78NQ0Qc6No88VtqzSW-2FjA=
8ULR5A6TvpYGygDkWf9wlVjtMYiG0luuzY8rjlQiPyWx5HpAMFj6X0XhndxRylXd6ufYvKdlicl=
FL3AvXyxl4GYTGAZbMb7lnhs-2BVN4ZGtwWNhGDB5Q6Gk8jg7ZaykhgRIsESWl6k1-2BcXVx9-2=
BOgpT-2FlJ7B1HCyJOI5pZgW9GHs-2Bz-2FqjchBmzl4N37pPXr8ti-2BJQDBUwSRr3GLvU-2F5=
UHIciATveeh9y76EKy6uRow-3D" universal=3D"true"> <img align=3D"center" alt=
=3D"" src=3D"https://img.pitchbook.com/news/73771.jpg" style=3D"border: non=
e; width: 100%; height: auto;"> </a></td>
</tr>
<tr>
<td align=3D"right" style=3D"padding-bottom: =
8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: =
27px; color: #78766F; text-align: right; font-weight: 300">Harvey Schwartz,=
CEO of The Carlyle Group (Alex Wong/Getty Images)</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By =
Jessica Hamlin, Senior Funds Columnist</i><br><br>
Complacency is causing investors to downplay=
the gravity of geopolitical risk in the global economy, according to the c=
hief executive officer of The Carlyle Group.<br><br>
Speaking on stage at Semafor's World Economy=
Summit in Washington, DC, on Tuesday, Harvey Schwartz said that investors =
have "gotten accustomed to very unsettling geopolitical events sorting them=
selves out," leading many to misprice such risks.<br><br>
The collapse of Silicon Valley Bank triggere=
d a market reaction seven times as severe as when Russia invaded Ukraine, a=
dded Schwartz, who took the helm at the $477 billion investment firm in Feb=
ruary 2023, shortly before the demise of the Santa Clara, CA-headquartered =
bank.<br><br>
Schwartz's comments came amid a day at the f=
orum of back-to-back discussions on the impacts of the war in Iran, the clo=
sure of the Strait of Hormuz, and the resulting spike in oil and gas prices=
worldwide.<br><br>
Ken Griffin, CEO of hedge fund Citadel, said=
that if the strait stays shut for the next six to 12 months, a recession i=
s inevitable.<br><br>
"There's no way to avoid that," he said. "We=
'll see a rapid shift towards alternative fuel sources. We'll see wind, we'=
ll see nuclear, we'll see solar. We=E2=80=99ll see huge pushes to reduce de=
pendencies on fossil fuels, but that's measured in years, not months."<br><=
br>
George Walker, the CEO of investment managem=
ent firm Neuberger Berman, said the US economy can manage with oil at $100 =
a barrel through mid-summer.<br><br>
"As it progresses into early fall, it starts=
to become more problematic as strategic petroleum reserves around the worl=
d get depleted," he said.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
<tbody>
<tr>
<td valign=3D"top">
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-btn">
<tbody>
<tr>
<td align=3D"center" style=3D"height: 36px; b=
order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http=
s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI=
rf6GFa-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrPrlg8Dyl80U7u5qMIxzmCA-3D-3=
DN6Wb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH=
5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU=
-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8Gid=
QtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgx=
noaDgW0eAZtFiX-2BRH7vUKE3cHuw6r5-2F6B0wm90OhoBLBCsGmu46cWPNnWych1Q-2FbV4Jdp=
NQqvYulkGmObNf-2FwMMX7EAC1WEHUQYc6JG5tLIByvSdpkzOTB1mDwWCe0DGPGaUN4ymmQjd7f=
yshK58zih1FBVPyt6Kdtsj5leSRDTFOVNFqCyYl7929v-2B6FCkqCqSmh4TZwbQm4G3QLq4S605=
1jlImG1JaTvmyappH0ePXcio5NL8LEA-2FPAJnPT0hIvSOVK0FchMcoD9u7su-2BTAdEhjnYgg-=
3D" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-=
decoration: none; color: black; padding-left: 3px" target=3D"_blank" univer=
sal=3D"true">Read more<img height=3D"24" src=3D"https://fonts.pitchbook.com=
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8px;" width=3D"24"> </a></td>
</tr>
<tr>
<td style=3D"height: 25px; line-height: 25px;=
"> </td>
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</table></td>
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</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
<tr>
<td colspan=3D"2" style=3D"padding: 0 20px;">
<table class=3D" " lang=3D"x-news-=
group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid=
th: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td style=3D"padding-bottom: 25px;">
<table class=3D"" cellpadding=3D"0" cellspaci=
ng=3D"0" style=3D"width: 100%; min-width: 100%;
=
border-bottom: 1px=
solid #C3C3C3;
=
">
<tbody>
<tr>
<td style=3D"padding: 1px 0 0 0; line-height:=
0;"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
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<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel=
ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUegA9BP9xvd=
ML-2Br7TgrP23r145VjNryN9BD0CJwnw-3D-3D5Uar_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH=
kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTU=
BT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXee=
chSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX=
09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0c-2F1zP0Axs8AxswmNAk9mukTtB-2Bo=
Xkd97rK3KVEIn6nG1nlRPsL8iNDCR0x98NgBy8qwmHerfnZ59DfNdja7mwm2MEVa7ew-2BEcoY-=
2FXUBJnJvEbAhtDBX2u8NBZyd9uePK55e5GCkvikraDJCiEk8DEsYV6lKXuEBqrmHeP-2FSCJXK=
-2FudsZvkndN3ZVttOM8lRmhLz9vjbKwehM4BtnYvX9cp3-2FYeiZLSfmwV-2BGLS0Hk-2BXi26=
jenWUfr9rLldqbTAEiYf35rw97zDxMZbQi-2BLEWz0-3D" style=3D"color: #1D5080;" te=
st=3D"" universal=3D"true">Crude Awakening: How High Oil Prices Impact Priv=
ate Markets</a></b></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Side Letters</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Sma=
rt reads that caught our eye.</i><br><br>
=E2=80=A2 <b>Escape rooms are so last year.<=
/b> In Catalonia, companies are sending employees to build human towers, a =
centuries-old tradition where you literally climb on your colleagues' shoul=
ders while the boss spots from below. [<a href=3D"https://url6380.news.pitc=
hbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW=
MDUegA9BP9xvdML-2Br7TgrtTI15v9WV85DYIgLfrWP0Q-3D-3DW9a-_I3w5d9c01gkD8gLzFEo=
fZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg=
-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaF=
XqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdek=
kCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Q6giNK9Me-2FdD-2BK=
9WSYv2aacCyLvsEVbPmIfuVCByQoBmj3LB4oGAyEqLy2BeaC50OWLVoZJUjMUuF9GSBncfOB1Z8=
zMX5rJmXg3-2BvWOkH-2FEb8Lvsyy-2BBHui9VKfHPLLrrL82iwUL73jkkuM3X2sQtKt9Y7ukBj=
nsUtMSEOvHHWf9g2xVFpQuZ7UlCH30-2BCWm0-2BruMAIe1-2FGjH-2BMC1uTa5DwacZ3gquEC9=
c1XUNFhZTXlYZPt9ObpAeWn-2BdtqW53xn1FN1-2BUnOhu3v-2BUbHnh4j8-3D" style=3D"co=
lor: #1D5080;" test=3D"">The Wall Street Journal</a>]<br><br>
=E2=80=A2 <b>A former Palantir engineer help=
ed pass one of America's toughest AI safety laws.</b> Now, Palantir co-foun=
der Joe Lonsdale, OpenAI's Greg Brockman and Andreessen Horowitz are spendi=
ng millions of dollars to keep Alex Bores out of Congress. [<a href=3D"http=
s://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrkWx-2BrtEMfGUn0eNtRYIikg-3D-3DF=
Aeh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5K=
ie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2=
FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQt=
NVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxno=
aDgW0Z0z5ruxJ1vqu7JbjAgu0OYoG-2FNp3KALQ1i-2FWYJxbV2Y88uUUKgWKWLGyfPS-2BzskL=
U9d0Ow2gsvxdlHuDSF33BGt-2F1avcFEmjxuBs5WfOiv-2B01577b2K3yEyqnybXG6gOL7WrNAI=
isqMoiMonAC7KSrPFUAvTngEfmv-2BCkC9Opzw3n1TjMzs0a-2Fq1OUWiphwQKRk6GvPbIVndD3=
B2h7K1RyGj-2BNbNaRAkaytP22aqISRy4TAEX6bx90OJZshMsoA6iSo3KB5Njq7OmUE-2FGMpVj=
0-3D" style=3D"color: #1D5080;" test=3D"">Wired</a>]<br><br>
=E2=80=A2 <b>Planet Money's whimsical approa=
ch to economic coverage</b> led it to trade oil, make T-shirts and start a =
record label. The NPR podcast's latest salvo against public media's funding=
headwinds is a book deal worth over $1 million and a board game on the way=
. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7Tgr8wgEtYr1LKOl1=
ibrHnK4kQ-3D-3DHMG3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW=
eUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AAT=
XmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0=
GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pE=
ZkbGJ5AoruVKgxnoaDgW0bhFPcpSs6phllxDdVvsPYlQq1A91z-2B-2BTPqpgaGSloJuV7VigFh=
b8d1yiZfNbyvQL4IYzTyoLHydega1fMuvdC9cih7EbcaDXs74xpNX66VhGOb5QXn31TcHEBFPKT=
H9Q7y5ItSgC-2BGtDd3WDfQNEIAeJVT1LSiu71TgjN7M6eV8qfQwxn8O4ScSCVPnalnR7IV745G=
qVTbBrCiVgqGIJzEKno-2FJSsamToiCWutYv-2BgyFkdUNaG6mrFiwpYLNJyOLGilnSWo153Jhx=
BNt9JQZc8-3D" style=3D"color: #1D5080;" test=3D"">The New York Times</a>]</=
td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td>
<table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D=
"0" border=3D"0" width=3D"100%" style=3D"background-color: #051C38; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 5px; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-counts-title" cellpadding=3D"0" cell=
spacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td align=3D"center" style=3D"font-family: Roboto,=
Arial, sans-serif; font-weight: 700;
font-size: 14px; line-height: 27px;=
color: white; padding-top: 26px; padding-bottom: 37.3px; white-space: nowr=
ap;">Since yesterday, the PitchBook Platform added:</td>
</tr>
<tr>
<td>
<table lang=3D"x-counts-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%; t=
able-layout: fixed;">
<tbody>
<tr>
<td style=3D"display: inline-block; width: 25%=
; min-width: 25%;
text-align: center; flo=
at: left;">
<div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
749
</div>
<div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
color: white; font=
-size: 12px; line-height: 24px;
padding: 2px 8px 0=
8px; -webkit-text-size-adjust: 100%;">
Deals
</div></td>
<td style=3D"display: inline-block; min-width:=
25%;
width: 25%; text-align:=
center; float: left;">
<div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
2477
</div>
<div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
color: white; font=
-size: 12px; line-height: 24px;
padding: 2px 8px 0=
8px; -webkit-text-size-adjust: 100%;">
People
</div></td>
<td style=3D"display: inline-block; width: 25%=
;
min-width: 25%; text-al=
ign: center; float: left;">
<div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
1277
</div>
<div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
color: white; font=
-size: 12px; line-height: 24px;
padding: 2px 8px 0=
8px; -webkit-text-size-adjust: 100%;">
Companies
</div></td>
<td style=3D"display: inline-block; width: 25%=
;
min-width: 25%; text-al=
ign: center; float: left;">
<div class=3D"outlook-caption-override" style=
=3D"float: none; font-family: Roboto, Arial, sans-serif;
color: white; font-weig=
ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;">
22
</div>
<div class=3D"count-type" style=3D"float: non=
e; font-family: Roboto, Arial, sans-serif;
color: white; font=
-size: 12px; line-height: 24px;
padding: 2px 8px 0=
8px; -webkit-text-size-adjust: 100%;">
Funds
</div></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table lang=3D"x-counts-btn" cellpadding=3D"0" ce=
llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"height: 25px; line-height: 25px;"=
></td>
</tr>
<tr>
<td align=3D"center" style=3D"padding-bottom: =
13.3px;"><!--[if mso]>
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l"
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t:43px;v-text-anchor:middle;width:148px;"
arcsize=3D"50%=
"
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"#F79B3E"
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<w:anchorlock/>
<center style=3D"color:=
#000000;
font-fami=
ly:Roboto, Arial, sans-serif;
font-size=
:12px;">
Request a free tria=
l
</center>
</v:roundrect>
<![endif]--> <a href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
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Qtg_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5K=
ie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2=
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NVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxno=
aDgW0cZG3a-2FBdguSSB2xkSKo-2Bk0EWpjo0xzWwsFjoqGPIddvi6fmb3qkeR7-2FfGb9tLXkN=
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v7nLfm5D38pgdVxDZy3b5jwwwJK2r3w4ra-2FTBBKV4uFxUxJpBUf6-2Bm-2F1nzGMs2rJUQRow=
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9px;
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Request a free trial </a> </td>
</tr>
<tr>
<td style=3D"height: 25px; line-height: 25px;"=
></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td height=3D"20" style=3D"line-height: 20px;"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_579801" id=3D"n_579801" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
<table lang=3D"x-news-group-title" cellpadding=3D=
"0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;=
">
<tbody>
<tr>
<td><span class=3D"outlook-caption-override" s=
tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
font-weight=
: 500; font-size: 20px; line-height: 26px;"> The Daily Benchmark: 2021 Vint=
age Global Secondaries Funds </span></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table cellpadding=3D"0" cellspacing=3D"0" lang=
=3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: =
10px; min-width: 100%;" width=3D"100%">
<tbody>
<tr>
<td style=3D"font-size: 16px; font-weight: 700=
; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1=
0px;">Median IRR</td>
</tr>
<tr>
<td style=3D"padding: 0 0 20px 0;">
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 79.7883064516129%; min=
-width: 79.7883064516129%; max-width: 79.7883064516129%; background-color: =
#1D5080;">
<tbody>
<tr>
<td align=3D"right" style=3D"padding: 0 4px 0=
0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,=
sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">15.83%</td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"font-size: 16px; font-weight: 700=
; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1=
0px;">Top Quartile IRR</td>
</tr>
<tr>
<td style=3D"padding: 0 0 12px 0;">
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 100%; min-width: 100%;=
max-width: 100%; background-color: #40C2C9;">
<tbody>
<tr>
<td align=3D"right" style=3D"padding: 0 4px 0=
0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,=
sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">19.84%</td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-cash-multiples" style=3D"min-width: 100%; table-layout=
: fixed;" width=3D"100%">
<tbody>
<tr>
<td align=3D"center" valign=3D"middle">
<div style=3D"font-family: Roboto, Arial, san=
s-serif; font-weight: 700; color: #1D5080; font-size: 18px; line-height: 27=
px; padding-top: 5px; padding-bottom: 5px; float: none;">
0.16x
</div>
<div style=3D"font-family: Roboto, Arial, san=
s-serif; color: #000000; font-size: 16px; padding: 0 0 30px 0; float: none;=
">
Median DPI
</div></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-performers" style=3D"min-width: 100%;" width=3D"100%">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-title" lang=3D"x-performer-title" style=3D"co=
lor: #000000; min-width: 100%;" width=3D"100%">
<tbody>
<tr>
<td height=3D"22" style=3D"padding: 0 10px 0 =
5px; line-height: 24px; font-size: 14px; font-weight: 700;
font-family: Roboto, Arial, sans-serif;" width=3D"80%">Select top performe=
rs</td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
<tbody>
<tr>
<td height=3D"22" style=3D"padding: 15px 10px=
0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzWMDUegA9BP9xvdML-2Br7Tgr37E8RrZkSgd4TDDtJ3nB4w-3D-3D1kDC_I3w5d9c01gkD8=
gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2Bp=
xdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QP=
Wb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2B=
ubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0RFmUmjmpI6wK=
-2F-2BVmTjJekUteHcb1Rp6GVRrV1urBpByw-2Fj-2BEMGsBRNT6pe-2BpMw9XWfwqwyc7qy1YK=
WXIq-2BlYeADX1IbRNK-2BoA9DI-2BPbW-2BIf9pn5BZCu28VaT8bYEzZGuP6IQYBoQwIF5bIc0=
d6X1SCK7B01SHpnDi2m35cKH6tWm52VXIhtvN6WoTDHCXwXORHH7eSohyEb89oJmva6qvhBsA5e=
8kZ6Wk-2F89UCnvSFe2vK50bhA2a9JzdGnEYVOrdEM2DVwvd8Q78vRpA5cE28-3D" style=3D"=
font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Gle=
ndower Capital Secondary Opportunities Fund V </a></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
<tbody>
<tr>
<td height=3D"22" style=3D"padding: 15px 10px=
0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzVBkuYOcfnMd7PHADB4PqtdYTAPPzF1haFkFqGx5C7djQ-3D-3DlLW1_I3w5d9c01gkD8gL=
zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2Bpxd=
SdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb=
5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2Bub=
LdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0dUAM6qWYUVKpDY=
J-2BrrOrQvi7r0vV7ruOioBPMvJV5iNTqee9SA8pCpvAo5cTcsiOifsp-2B5TVxIPvLKy6RNgGy=
i-2BocfMoZ1jcuzycSTqcYy10E-2FVmlJ34x-2FjQsRmLKVI3r7iCLukC61ecRIbpcSYgTKddPa=
SNA7jM3oxxJ-2B-2BQVxyvem1k8XzZt3YEk-2BFC7zSDztuwy-2BQs-2FCt5wxlWWMCSKEDonOC=
O81aMcO-2FR4GSOIILLKip8WSQN3X0JWkg3kOvkFuYx-2BFPJX4C2WJKmz0GXX4-3D" style=
=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true"=
>Banner Ridge Secondary Fund IV </a></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
<tbody>
<tr>
<td height=3D"22" style=3D"padding: 15px 10px=
0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzVBkuYOcfnMd7PHADB4Pqtd2A94E2PyqXIAzp3mjEaMeA-3D-3DtJF2_I3w5d9c01gkD8gL=
zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2Bpxd=
SdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb=
5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2Bub=
LdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Sb41KWITevHH6n=
WcM0ElCK7bXWHrq27obkq0IhdAma3AVL4w0SA9tSP5-2FnSm-2BeOT6KaA2xc9jdkB1DJ0lprdJ=
VXHtUCtui2VmGyCFDMFeOWPgD5SSK4BH4GdKOUYwvqZ6Jf9aXVguV-2FnMpSs9HzFkxaNHaTLDL=
tCQGOtUAPF65JzsfEPMyvoNMP4J42z-2Fyraf39vMIQcJwDuYbXGI3crqrPvFq9tmViau8P-2FC=
gIT43I3A8-2FX-2BCec1ZK98jrc8-2FvfbM5anotZEpWv2UdFaBWlfY-3D" style=3D"font-s=
ize: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Patria Se=
condaries Opportunities Fund IV </a></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"font-size: 14px; color: #78766F; =
padding: 25px 0 5px 5px;
font-family: Roboto, Arial, sans-serif;">*IRR: net of fees</td>
</tr>
<tr>
<td style=3D"color: #1D5080; padding: 25px 0 2=
0px 0;"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0=
01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdJ1-2Bc=
Qk8sM-2FzXBVUf-2FjeUpg-3D-3DJnY3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy=
-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgG=
SBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36=
eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-=
2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Sv-2B0YOihahhEDbuo3nhndoI4XaehKFEOtrBuJl-=
2BO-2FHmt-2BMo4yhfbos0PDQuuKo6m0OVjgEHwWbHUyBAG3J-2BbxHVmHI33I5kGWecs473tds=
FX0K2bU65UGcmrxRlCzqvPu6tHdlIO-2FLBQVcdOBsaE5EzDWBeYVLYC2uaqtFogKBn0qg8mQHP=
tICMEAi8fBMis7ju65Tuh4hqEsoOvDm7mPWt47hICsyEPfthSFeImslVmRy4dcm14m2QkGoceU6=
TwH57ByJxOkiKemWJP26kWE4-3D" style=3D"font-family: Roboto, Arial, sans-seri=
f; color: #1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" u=
niversal=3D"true">28 Funds in Benchmark =C2=BB </a></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Check =
out the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/=
uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVBkuYOc=
fnMd7PHADB4PqtdGdQqk5hsDsnvvsc9CkIgKQ-3D-3DFyPC_I3w5d9c01gkD8gLzFEofZR-2Bh6=
VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aH=
jRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax=
3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8he=
tGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0VaZXLaCwzu2u7UyH2yYor8zsDO=
DT15wApDaibbJxf4v1bG3RVeJYISZJOhRj1wyqYnsFFSWTIq90H-2BNL7TWwp-2BihOtLwCxxBJ=
jF95qOFLwmlEXCdOtA8BFu9DHAWoDS11RI79X6b-2B3pOU3GTq6eFBswkTntBt2WF50lBTgVrs2=
FCKuw-2FqLBLqmiLJTSMiWxCq4kNkcznh6yybYPE7bqkfKMb3QleCGSKugcnRqqntK3vKOApWuy=
Y0zMOfts0OzLUsh177PsrGSWDzkf2DFXH9s-3D" style=3D"color: #1D5080;" test=3D""=
universal=3D"true">PitchBook Benchmarks</a></b><br>
</td>
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</table></td>
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</tbody>
</table></td>
</tr>
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<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
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</table></td>
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</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table class=3D" " cellpadding=3D"0" cells=
pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20
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<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
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dth: 100%;">
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<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdOk7tVb645hVAPzNHQ=
cvssQ-3D-3DIlCq_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF=
Va0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYG=
jx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtj=
EoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbG=
J5AoruVKgxnoaDgW0W1JIfi1xWRnVftY1YsZlbr1cekgi3vjAhkKx3HO39-2FmoJKiPXZllvLT2=
3wvu7XHI8PubA9SSJAgO6s5lVh-2Br0uPfpqq0pfmNSIvon8JslX12ZSVfiMCHS3sGJr1VFws9i=
n3Wj8LSos6qcsgLMsQJQkFpATW04keR7z99Dmans5PNJupyIMdLgHrrqeH6UrZI8QQ-2F2gjRH5=
fO2-2FFrRQ7XJbpoOMH3x17UVbmffhpJDiDnrVshGTbzzAjfDWM1tq-2BJQntQM8ahD7k59w85T=
wMLX8-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Fluidstack=
</a></b>, the New York-based provider of an AI inference training cloud, ra=
ised $1 billion from <b>Jane Street</b> at an $18 billion valuation, Bloomb=
erg reported.<br><br>
Michigan-based <b><a href=3D"https://url6380=
.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq=
M7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdLjcMOElPgHa4EzAUoecirQ-3D-3DZjLo_I3w5d9c=
01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRq=
Sz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2=
F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJ=
raa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0VNhoiw=
9tQ4-2F-2FvNkO5q-2B1hzwUeyKwA6UP-2F1yqd-2FHHv9z6vK-2Frz6IF8-2BH2sYFG5ci-2BS=
2kFN8fvJ5ZCcWWfwHG8A7mf-2B8fPqo-2Fgk-2Fbn5HfCyBzlBpyUxSMlrXs7OOFW5FQ7Z9P-2F=
Jz8e-2BqG-2BEMfNP6MRsrCKYNz-2BTRnf5DGVUJkDs-2BeJmKL-2BuW0XS-2BcuGFxE2v5DBbo=
YzEr1JvVP5iaDV58PcM4-2BAqXdXPeb9HhOt9i0TAuJw-2BFS6gAUjV5NEEfkfer8aQ3tr7QToK=
6lF-2FuFtfKLr4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">S=
ygaldry Technologies</a></b>, a startup developing quantum-accelerated AI s=
ervers, secured $139 million in combined seed and Series A funding from <b>=
Breakthrough Energy Ventures</b> and <b>Initialized Capital</b>.<br><br>
California-based <b><a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdB7qgXMlluBBkP0ZqV3g0pA-3D-3DjUlS_I3w5d=
9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWC=
RqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL=
-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoa=
aJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0frMO=
C0BtqoJV9PE09MRD5TsnhECG7p2j0177Uq2gm7JMwH1K0mn-2BPMwetWyVmseJsVXy9tVGRCQxs=
SEmWs8-2Fgh-2B4GZcqSiwK3DoqHfwFeNY5xsjknT200y-2BJwweYwVMunHacJtei49MCgz1y-2=
FnOrT4vKjbXTtePWfsOaRHOS-2FzkbFvt61sucHH5mMGrQzmE1LsAvBuumFJRxQEa138drooheM=
wrtsIXaVpP-2BXFFnEiqDA0rvZqwoBPRIqd9L8-2BfQ45VbkzUBG4S83H0bQ6-2FGj0-3D" sty=
le=3D"color: #1D5080;" test=3D"" universal=3D"true">nEye.ai</a></b>, which =
is developing optical technology for AI data centers, received an $80 milli=
on Series C led by <b>Sutter Hill Ventures</b>.<br><br><b><a href=3D"https:=
//url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdTqB3raXN8UwloWGhJOCOMg-3D-3Dgm3=
W_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie=
4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2Fs=
uH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNV=
c9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaD=
gW0SzdgYww-2FGh6w90M3OcDYdDlDuSpnl-2BksamFEFLNbeSVeJN5XAIXq7-2BnGD3E7ethQ5i=
oJWADKS9I4eIVEBuZef910w7ExTVRSxixP1i1tYsyoSCMs8UN4nb-2BMWcWKe2BUDkxGalhSdE4=
yn3EqzjcZf5gMrIulw933xJd72v6Ekeo5BfxbsvoRLlIf-2FDX-2BezJruPqu2N8DXCvaxuMMYj=
BSXfYx0ftKQPK7vGYLCNhWiQ5Ilm6ORelLnN9bfeW1A6TvLfr8MHOvRvFAerhyyVvkqk-3D" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Adcendo</a></b>, a Dan=
ish company creating antibody-drug conjugates for the treatment of cancers,=
raised a $75 million Series C led by <b>Jeito Capital</b>.<br><br>
San Francisco-based <b><a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzVBkuYOcfnMd7PHADB4Pqtd2X377c-2Fo-2FRKjUdEP-2BPnerQ-3D-3D8=
hQ9_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5K=
ie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2=
FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQt=
NVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxno=
aDgW0XCQvxhcVTecDwlQBkwWoa31LRuQcSvd2CWlDL1cBarSsel73-2Fy2RBKVFHIWd70gDrRHZ=
GLms-2FgXH9JkNL-2F7cz-2FcysF9SGFJXUe4AJTThWp1hbUE0gUo1yakIYkNU3MFl8HQaRki0H=
G79cOsL1w0j4-2FSEeCnXwPTJizexhqU24MjGvtlmeVK-2B6CjQ8alMby38jtc1S-2B0lNe2wGS=
bv-2BDwyhkSib6XRwtnQFfx5q4iab2vhQD2tAa93qeq7un6XEB7LX9UMEGgKYytv2ZQnGOObmU-=
3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Mintlify</a></b>=
, which offers a developer documentation platform, received a $45 million S=
eries B at a $500 million valuation led by <b>Andreessen Horowitz</b> and <=
b>Salesforce Ventures</b>.<br><br><b><a href=3D"https://url6380.news.pitchb=
ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou=
zUObGiTO-2B86VZWWwgNkk6X3FZsLMJnBssg0cEA7AOqxBA-3D-3DWAAC_I3w5d9c01gkD8gLzF=
EofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSd=
Jg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5O=
aFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLd=
ekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0aRNc5ASqbEj9ee0K=
5hUVnxF1mf7Pj28NQxShR28vpmSjDNwyGVvixlpi19qVAQ9YOFu0RatiRXeUvCB-2Fny2TzBCOa=
CWqRpeAQwzYJmyWkAFDbbja220UU3cKGeDzgSRsnr9kwdzgrEsFyZdkzKiNtDZ-2FKU5-2BjXn9=
D6mrGYCA4wxUonL0pLUoJpMpbAiai5iuy8cq9UidWLq5tYiRRAxSv4oDT1bmTJgbFQxwwgAbsTr=
leQtSGvToZAD64ExJgic6CeB1R0jXvwxiNbV6Uo-2Bsi8-3D" style=3D"color: #1D5080;"=
test=3D"" universal=3D"true">Bluefish</a></b>, a New York-based marketing =
platform provider, secured a $43 million Series B led by <b>Threshold Ventu=
res</b> and <b>NEA</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook=
.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUO=
bGiTO-2B86VZWWwgNkk6X3-2FsGAhAU2tcyFsSEBvU3-2BTQ-3D-3DSuPp_I3w5d9c01gkD8gLz=
FEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdS=
dJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5=
OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubL=
dekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0RXGxXV9rBnLL-2F=
SHv-2BwhJCC0SKB0vINQ9LLFF9WAgHvIRAQIDLZw2Eshndfptb2VzFU540Dfl44YnYPQv1Jlk0J=
Ajlq3jY5W7fQhHhF90FkcGb1LMKizJGLYtbqFLfXj2eMKprTcIGZhjoESV1iTinj8ymH0Rxeeg8=
DEIyc6YHcrZLEvHKw1XHt34qgEDLK4K-2FvF95o8lr4muzUfbUpEgnlxsoMDJxebTtCgK2kcZtt=
XijmHcNa91ikh4XQj6LdVxyztTBL8qQHAKFU6OdlA3KU-3D" style=3D"color: #1D5080;" =
test=3D"" universal=3D"true">Synera</a></b>, a German developer of an agent=
ic AI platform, received =E2=82=AC35 million in a Series B led by <b>Revaia=
</b>.<br><br>
San Francisco-based biotech startup <b><a hr=
ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C=
uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3PxAEFlDkuQ6MDXIpS=
-2FMWHg-3D-3DPY87_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU=
gFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXm=
YGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GU=
tjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZk=
bGJ5AoruVKgxnoaDgW0foTHIp6ytZgTazs4omX9ZcJ3QRotfoKEC-2BtDv1Yip3lX0OE5-2Fj2L=
Awg2Nr4oeFOynP52XnOYYgpMCEWGpSfIC-2F5ahIMuiJXf6qPk4zJtwK5wjvY3IEvDWJBqTACei=
rT5AtJvWerjKZKwBBzNbuvbtVgOxocGmbdfaPAwwOhS-2BhoT3Fpl04tfLTQ8T-2BEWLmrpZrqL=
jYnSrWw5JuErzxK-2FWBCN3allmYdkwZ-2BzSmNuogF3LzhUqQZ353I5pGRT39vMAI9lE6BEFyU=
OwN03LVuqFI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Spir=
al Therapeutics</a></b>, which specializes in ear disorders, raised a $27 m=
illion Series B led <b>Gund Investment</b>.<br><br><b><a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3E9H5CHn8lXgF2H6Y5Tz6nQ-3D-3DER7D_=
I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4Q=
wFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH=
0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9=
LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW=
0bjGoFkl9tocXUCYQasILQSYtR2q-2B7WCJUx-2Bk3OakF-2BcDW4-2B0FL1fIGMnandJKaVQxE=
hqhYg-2BtD4OYW9tf2MOmdjWwhSdCcohGmeqCGzjO5hGrKPLwnCmsZ9nZU3UmY2QruwIQp2x9cE=
0rlFV1n6XRaauzDQEhFgbezf4xE3-2B0PttJQCI2ndLMRTqOSfapCA3yfiwV1D-2BHq18Gyvrjf=
45Qo-2BqfNpAU5SPFdN60feOAjj57-2F9nPn8BXqZbOcmVyuC0YmmtRKC3R0OqVrJ0j9GO3k-3D=
" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Kelluu</a></b>, a =
Finnish deep-tech company operating an autonomous airship fleet, received a=
=E2=82=AC15 million Series A led by <b>NATO Innovation Fund</b>.<br><br><b=
><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3ezZUGzr2gYD=
LCzl0FxuChg-3D-3Dnvi2_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb=
dWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2A=
ATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2n=
W0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7=
pEZkbGJ5AoruVKgxnoaDgW0XWCAykKCY3oZk8uCaBqCTj3yLDZuqzbheuCkDXvirymT9g9At-2F=
6YikBoUPRA-2BG72EoqiDdVHV3zDkCd-2FNF2eYB6a9PInQNLP-2BZMBQpRuxGB93b7ecyoNev5=
jMlEVgddDlCzS2Z45bkX34PkX3zXrMdgEY19mbLct17FReYvMedUZmXwNG-2BC5ySd6jq1sQNDx=
vYQb60DwFW8hCr1q4f-2BG6DItXDlgNFyjFU4reT98IC46triOb2s4cMCFX1ctsvHGCw82qyrHu=
oYBEKxbGnZTcs-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Wa=
mo</a></b>, the UK- and Finland-based developer of a finance platform, secu=
red =E2=82=AC10 million in a Series A led by <b>3TS Capital Partners</b>.</=
td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>PE Deals</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>TPG=
</b> agreed to buy <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZ=
WWwgNkk6X3B3xvoqj388rGA53VgaRr6w-3D-3D8wwU_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH=
kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTU=
BT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXee=
chSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX=
09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0SsqDYxRkylB-2Fij6G29JIqXY3zvsBv=
8NQfpAm7E0jvQ5zS-2FMe9t6zz5UpqfSXifzPIzHeaWWxau4b4lvOjJkLm3pB4JcpRb8RiqZXuC=
5g6DTlSbKutExR-2BlVGzw-2B2Bug4zNhypLtw2VpV6rGwcW-2F710yMpojGG9WrdvGXzxxuD2d=
-2FFs-2BHYFTGLaePdgv0dYlHqQpfuqjMSIrvShcXsJVJrvLRtSEqGw3oKyJSZMa9D5eM3yvA48=
uqEXg1hIJdyNn5xN-2Fyb3Irwb5fGR9ZGezoKo-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Learfield</a></b>, a college sports multimedia rig=
hts company, for $2 billion. Learfield was previously acquired in 2023 for =
$845 million by <b>Clearlake Capital Group</b>, <b>Charlesbank Capital Part=
ners</b> and <b>Fortress Investment Group</b>.<br><br>
The winning bidders of a $1 billion sale of =
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73=
BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X37tcKC3DlC5qk=
dyclsW9X7Q-3D-3DH9Ww_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbd=
WeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AA=
TXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW=
0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7p=
EZkbGJ5AoruVKgxnoaDgW0eHN87DGK74sQZSGrNNM3wWgRKVh9-2BhXi-2B6GP6wgZfn50lie-2=
BHM815xIgCtwuA1hhRJNzsvrxYHPc9eDWAeXDCqHcMgkWoc38zdoSPJZl28pXF9EagCgAT4XOQH=
ej7Kk2J-2FvxkYuwnwlip0oqFvjx-2FvnUVVYJR6Cevajnch6At-2FGfkLp040tB9os7k7QdEoC=
dE2lOy6ixD7RGu0QZb5-2BtQWn5RjuSI8-2Bu2Y-2FuiD4OWV8dxmwykAd7SZcaxJpJ0Du4rD-2=
FJawafdg7FC3AIPwyL1k-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"t=
rue"><b>CIC</b></a>'s private equity holdings were <b>Goldman Sachs</b> and=
<b>Ardian</b>, Bloomberg reported.<br><br><b>American Industrial Partners<=
/b> is acquiring NYSE-listed medtech company <b><a href=3D"https://url6380.=
news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM=
7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3ImX9HX4NhBjGWcULZtVO8A-3D-3DowgX_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCR=
qSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-=
2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaa=
Jraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Tcmze=
EOxq-2BnkCnjftesoziyRfyNUlOD2NHfT972ZUrnUy3-2BoxU-2FfQ-2B88-2BDWVdkqSWitsoF=
wWWmDzbCAdiw7eh1qHkgsr3vZYm8-2B0bJQPqBfvwkfVExgVjrVguUhkM1hqwgE56N2x90zuya7=
3IMtq-2B5lcNWNILHR5lA7G3cQ0pQI1dQZaxEtw1lEWmsve64K0J3o7fauHn9J3Wc7tYfxLn8MP=
fh7R-2BOUbxYcQ77c-2FlgKPhhiF4QcNkrVA7W3sPyAyiq7sBgU6nYSImAE1rtG-2Fik-3D" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Avanos Medical</a></b>=
in an all-cash transaction for $1.27 billion.<br><br><b>Blue Owl</b> is ne=
aring a deal to take a minority stake in Paris-based <b><a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3-2Fz4dioAwFdKMTDFsV4jZMA-3D-3Dw=
qv8_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5K=
ie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2=
FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQt=
NVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxno=
aDgW0WOox57FHkQCot4LsdSmh7IxyukHDTodjeLCSjbNLjeKorCfWeq9-2BiSte1EXmWt6QOQks=
jrYSfgCkLabmTAHQ79zS48iP5-2BSMjYPb7Kj8fFT1ca14tXyRZMUdi5xTtKMWRS4t8ZiYu2lVf=
AR98RagEpIc2qCR1G3oaMOEIq7evQ8nfgZKYmQ2aTRq2BxKevyCyCbiQ8FbeVeIbKxjL6CbFlyY=
IlrxEv1-2FIBZz67aEHK9SuP2kJm032w6tsFhvITNrcszW-2B3MYGHwd3TViWCRGMM-3D" styl=
e=3D"color: #1D5080;" test=3D"" universal=3D"true">BlackFin Capital Partner=
s</a></b>.<br><br><b>I Squared Capital</b> and <b>Blackstone</b> may put in=
a new offer for the core advertising business of German media group <a hre=
f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3NdlOk6mF-2FzEcmR-2=
Bz-2BjC33A-3D-3DrmJt_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbd=
WeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AA=
TXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW=
0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7p=
EZkbGJ5AoruVKgxnoaDgW0afgSDwZCpG3nWT-2FHh6lle72JGupC-2Ff3I-2Fh7XSsX-2F9VbLb=
oSQMFh16Gv2Tkmbbx-2BKpR5mvTlQZIfnD-2B82SwQ7f-2Bq7SgBT0scvAnHC2kTHtMIPy5V6M0=
xvi39RLPmPBwmRgqHfosK7RxQtnIsq-2BMffQsitpWZ81J9n-2FH3UIsJYPvEGQs9aAJOiBzOmC=
aCwiSN31tTaWcmVEA0p6pX4qjO5JAmUZ70KYpyg-2FitVKw-2BGC4FTfDG9YUyvK4cXiv9NMk-2=
BzFyS2lcLpKA6vmykbFK5nJ4-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true"><b>Stroer</b></a>, Bloomberg reported.<br><br><b>BU Bregal Untern=
ehmerkapital</b> acquired a majority stake in <b><a href=3D"https://url6380=
.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq=
M7ONnvsnswouzX3H-2FBob4327-2BNtX00javMx0N-2B0EyTgU59ql8qMETorkw-3D-3DZ_ZZ_I=
3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4Qw=
FZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0=
feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9L=
rWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0=
fQnEZK5yjXXFDOKIvkqs1QDYf-2BAN5RPWWfHYIb0UKLTHyhcZZ6XBgQ4kmUzOTjX1OC13Y4pqU=
yJcmMkTHIs4u2ydjv45ByPaFLtvVDKGMJ-2FQ8Nlu3O0PXleTJwlD1-2BsgTVVUMPY-2F06pkg3=
Y7qKn3l7pFy8zvkUPUITEqCi3nUkSwSVRfWX9xlECA0c3w26SOBkW8x5MKx9uRupyVtwyKMUf40=
cj-2FPngGzWNvb2yOeng1xj2-2FrFJOtS0Zjf5op6hqESaDgG9aWY986RcGjiunTo-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">A. Eberle</a></b>, a Germ=
an measurement technology provider for the energy infrastructure sector.</t=
d>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Exits</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>Mub=
adala</b> is in initial talks for <b><a href=3D"https://url6380.news.pitchb=
ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou=
zX3H-2FBob4327-2BNtX00javMxVLYLSqpI1w-2Fx-2FbjCB67VpA-3D-3Dqpx1_I3w5d9c01gk=
D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2=
BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4=
QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-=
2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Qu3JA3Dnag=
-2Bxed7yFv3YV5YD73zLX6uMvggJncb0IWgFGIniVPvplqk96G7yol6VNFvDep6FellM9571iUZ=
Yn194t9s66INZP858jqIwMJZfowgGo5LNqyc1OkyFa484-2BO92HXszkIw4I-2FrJWeQ43ZHOxq=
oklPxQ8weMiTHE0Agxz-2FYGP0A1UEJtTJTYIMtEtJXiLKmrZDaA0xxF0LUNjY-2B5w0cH81I5B=
ullM1N6z9nyTYIqHtsjVuU2qXv9zZbgIOe861lDrpiPSCTGUScpGc-3D" style=3D"color: #=
1D5080;" test=3D"" universal=3D"true">Petrobras</a></b> to buy back its Mat=
aripe refinery in Brazil, Reuters reported.<br><br><b>LDC</b> exited its mi=
nority investment in <b><a href=3D"https://url6380.news.pitchbook.com/uni/l=
s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3H-2FBob432=
7-2BNtX00javMx8tfAIlOGzCaBE-2Balpbwqmg-3D-3Dn0B__I3w5d9c01gkD8gLzFEofZR-2Bh=
6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83a=
HjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZa=
x3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8h=
etGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0bLwi7l7UEoiGLQRlUffU4G5KT=
hMz2wLj2U3BiIglz3owhA0TqpwlPwpi4ZfeA5n0Xh1iFB7G5mzbmjSvdzA3-2BFoZviLshFVQu2=
vBk0wQXLHvYG6IZGOMAbS8Uksvy5-2F0wu3ZVE5JPGxYepAgCJjFSKUrSSF8LKB6FZwoYARxneG=
lQbDv-2FLJpEJLVc9qwZAZAcpScZ-2FVTZT5FSEYoDL7cut-2BYX5sKHG-2BFV-2FmKd1ONAbcv=
wB9OhRB50ZM-2FptSUrJtUfgWuK9ab5tvusoOKQ9Npyc-3D" style=3D"color: #1D5080;" =
test=3D"" universal=3D"true">Global Autocare</a></b>, a UK-based corporate =
vehicle rental and fleet management service.<br><br><b><a href=3D"https://u=
rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX00javMxz4FhkKOfobbfhPM15m748Q-3D-3DCl=
mW_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Ki=
e4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2F=
suH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtN=
Vc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoa=
DgW0R5yqfLriWyTvTvV6Dm0AyTeqcLfkJqKsLZRaiFSdFeX-2BZ9XtKB-2FrY1o7fQKh-2FlwvD=
S7txjavGk2goF77rwGFyQq3HeiL0kuiEk-2BawhgJkVkKPQC9yLnSiElb7yq8X1-2Bw6aq0oUkh=
35oUzwzcjessvd4eWPvKJXQAYLiyw2ACo3EN-2FR9Vh1qmkN1gSgjiylHPyzArc-2FwCBAZLVIa=
FBs4UWimvIW5kOPzxGjacDqvoOYhDrU0xm9Y5n7XFa7DiMNI-2FHZZ1X2-2BQkakaUVE4l-2BpB=
l4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Hiro Finance<=
/a></b>, a startup focused on personal financial management backed by <b>Ge=
neral Catalyst</b> and <b>Ribbit Capital</b>, has been acquired by <b>OpenA=
I</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click=
?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX=
00javMx2ZO7525Mew3qXLrsf-2F-2Frtg-3D-3DgCYa_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar=
HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDT=
UBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXe=
echSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgf=
X09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0ViZXD0rX3Yh1BL34nYTvJQc1WhLgWT=
n-2FuEXmuchrxYGwirwyIAU-2FePRmZXEBTt-2F-2BiINlGfNXhSq-2BITWv8uecAFRl82DV0cP=
7F0z7OP1nPNsNG5oI6RYGPDZL8EU5p-2BazVgK82xs4SQ2QiN9gM1kbF4xHfZDsDMQYurtHraKb=
FwFGXFa-2B02QfWypYGGVnUCO1FemhGrRPaIGUv8t7-2FXXmMfG8TDMZAwP-2B7ahOZvPAQgNxn=
fFGAMmTc9OZzb1hkdG2LZvSM09YF-2BETPQmsxSdCz4-3D" style=3D"color: #1D5080;" t=
est=3D"" universal=3D"true">PartnerStack</a></b>, a relationship management=
platform specialist, agreed to be bought by <b>AppDirect</b>. Both compani=
es are VC-backed.<br><br>
VC-backed <b><a href=3D"https://url6380.news=
.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn=
vsnswouzX3H-2FBob4327-2BNtX00javMxsB6ZV4hJy39uj-2BiyAjJ0SQ-3D-3DwZsI_I3w5d9=
c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCR=
qSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-=
2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaa=
Jraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0WFGIZ=
Ee-2B9ncr8QINm2-2FT-2B3HIRjLRsyKWTf-2B-2Fgyu-2BQlnAmf5p0dIskKu1A02hUKWOIi3U=
xI2BclEfI6GMZ2NoKIQu9NY-2B3TWHcKfbDYI0NnwUqUMEQtzZClEe4pxily6wtB10yvkeRdeSH=
6NdXpszMegCvp-2BUZ8TaZ8p4yLdYuwOrNf9QEPn902b87FG80FXNkK6lfmEy1BCqQONohNkDad=
HbUWjmYqyT2wAVMJ2rA0fZrO5YAR81wX-2BhQkXGPV-2Fd4RVVBwwUTPyTLTAoMAPHCo-3D" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Monarch</a></b>, a sel=
f-driving electric tractor startup, has been acquired by <b>Caterpillar</b>=
, Bloomberg reported.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Fundraising</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Abu Dh=
abi-based <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX00ja=
vMxeLmY94gZgFBRB4DGUrEeKg-3D-3DcIPb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf=
mzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2Bxt=
UgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2=
F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71J=
Nf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0dDVzeT3zL5X96bEcs4KAWTBNXIHmQieezSZdss=
ralm3PNW15NMp6XHidLbrHlFZSeiXYIWhkZSVXuHyo3CZ0U20tg4MAFH1YeH7zjbrdesWJMQKVq=
qz8lGrHjhLBVYTc1nkYxKQF4P90kjPmhf33lKGJPt2tuBwMSpLT1szxY3-2Bm-2B6lfkOeENjOC=
L7E9WzmABwe2u6UcwYp31wTIqM-2FFhK5aoq1-2BnmAxvqDsXEV7JhjeLiegjB5OJjmOmdYxN-2=
BulutZW1dMF435R1MEklZgyVc-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">BlueFive</a></b> is planning to raise $3 billion to invest in aer=
ospace and defense companies, Bloomberg reported.<br><br><b><a href=3D"http=
s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI=
rf6GFa-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX00javMx3SE-2BkpQOj2xBgundJ4ztIA-=
3D-3DTHmh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8P=
zsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu=
-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx=
8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5Aoru=
VKgxnoaDgW0aoEyc8T2PsNiq6ruVqdsqlDdXhSuim6v-2FV7ejiRynanj0IZTMzsjEbRzObFoXb=
Eq9DxM6P1EFWMo1grj2On27AdfrhERYLYl9GaOWV18Q6LSyF2EJ7oBMxNDp1-2FehcAcyDwkPHo=
XklDTdcLjHeVl4pD9PkQFOvkM-2BqYCh0UnlDrOH1TB3BnE3znh-2F37JxquqBVySya0Gk4zEz0=
J7vq6b9lltlEUR0919q9QavRkq7W-2BttnGiu79W-2FxXRKVq4e7QLxbmgTZPj4hbTQdME-2FXp=
4oI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lightyear Ca=
pital</a></b> raised $2.5 billion for its Fund VI to invest in financial se=
rvices businesses, The Wall Street Journal reported.<br><br>
Paris-based VC firm <b><a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX00javMxLfjXnkuQdl3xQJT9aSXz4A-3D-3DnMn=
D_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie=
4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2Fs=
uH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNV=
c9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaD=
gW0T6Vps2YPshsOpkAghmIiFQGFNN2nEqHrqLPqrfUTFiIYEbx9pbVYmkSTMV9tUZ24t0aHJk-2=
BSvCct2Bg50UpfhwO8EvRfwqbGi6lPOflr8eoFM5IateEsmlu0zfSyJVpvW1qrwyaQ5-2FWPuFQ=
f2jkdMqz0yEqiZsaR4glYXdcGyB-2FNAgLcvgH8STg24E9s8n0Jj9Pm6s7vgqPzM-2FbNulc6Gu=
nMvQ2xU8MH3SkXHPKjv7ilbRaNwCA-2FcOvs1H-2BCe1XgDdiId3sMeDgm1IpHEwUQBY-3D" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Newfund</a></b> raised=
=E2=82=AC60 million for a vehicle focused on technologies for the treatmen=
t of brain diseases, Sifted reported.<br><br>
The defense giant <b>Lockheed Martin</b> aut=
horized an additional $1 billion to its VC arm <b><a href=3D"https://url638=
0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba=
qM7ONnvsnswouzX3H-2FBob4327-2BNtX00javMxpAJ49b2HbIwU8SnLKecCHQ-3D-3DIuEV_I3=
w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwF=
ZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0f=
eHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9Lr=
WoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0c=
2PhsfNbKwxjS-2FRNbmnxmgh92zPRHI20QTcyNOiSsDajRDgsur1k-2B5Mrnw1Vy9N21r-2F3kV=
nkrTYlPp7eoE7fublDAIr8hqRZcv0ZBo1v-2FYcOM9mi5UTHvS-2BAK-2FFXhSqXpAUn2xk5e4V=
IyFIwZe4SZ1HYMCHITBZ1AWP04PaHFCdsYkJqScRLtYdF84k6LG-2BmJzD7v7lWHckS8dydR3pr=
AenoQVe7INFW2-2B7xYTOG-2Fx7GVdVga4wniXGVn-2BO6avlf92Qd7oaL1EpixtEBKGvGYs-3D=
" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lockheed Martin Ve=
ntures</a></b>.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Chart of the Day</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100=
%;">
<tbody>
<tr>
<td valign=3D"top">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
<tbody>
<tr>
<td align=3D"center">
<table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" style=3D"float: none;
">
<tbody>
<tr>
<td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXh14h6VMDklYSFPKB8xhNQNI7nF8bOV=
8eWrEhIwI1t2w-3D-3Ds-Ze_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb=
cbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb=
2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG=
2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96=
I7pEZkbGJ5AoruVKgxnoaDgW0SxrVcofSeZxur79JjLvgGNDdlmWo22BFFq-2BEvEVLnq51r6ow=
qM70wSKqNs4dWLDdw0QRg91BaQA5aGy-2Byv6nXTLUd-2FuRfVUNdAvMcD1Rp0r2gooeXATKi2S=
6r-2BbLdsKhLBcV7HH0XLlu6mHzRFFMuVdNpUHJt2Yh-2BWcz1H-2Fkv8O7Sfw-2BqY-2FCsc1N=
sYo9KWK-2B1Sc9QEuLdXsCBsb45LCcRh39DQDHTSL7DAUu88L-2BQRE1vnJKCDaspHRh20mUiTn=
Z7C2H3Khd32KtlYh8XyoSro-3D" universal=3D"true"> <img align=3D"center" alt=
=3D"" src=3D"https://img.pitchbook.com/news/73774.png" style=3D"border: non=
e; width: 100%; height: auto;"> </a></td>
</tr>
<tr>
<td style=3D"height: 20px; line-height: 20px"=
> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Club d=
eals increased their share of total deal value by almost 10 percentage poin=
ts relative to the 2025 average, reaching 43.3% in Q1.<br><br>
Source: <b><a href=3D"https://url6380.news.p=
itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs=
nswouzXh14h6VMDklYSFPKB8xhNQ1kBtxr2a1QEh3E3GVf-2B26w-3D-3Dj98M_I3w5d9c01gkD=
8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2B=
pxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4Q=
PWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2=
BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Ww0mNjGAFQq=
u-2Bl9YXXrVuo0l5OqTcrG4u3neCSu1TtyDFxhJk7bTJxyTGUm6r4nwCJRy7rAnSgZd9-2BvWHU=
wgl64BOVEDZ7ILkZHg2cbrEFiZZFGE07ISNL5MRookdNoOtyCRPTjgm2xPdZ24-2FW6aj7rs0M4=
EwNH1mmbv-2FJEYtWvmmrUA3fTCkRuUfErmf-2BReHfIsf1QZZibH6O7llPwGjxLey5KqH1vruM=
5QGw2vbiwrRSA886XD9yOUTrTKxemNAvqtEj0v4ST-2FOvjnR1s9Ic-3D" style=3D"color: =
#1D5080;" test=3D"" universal=3D"true">Q1 2026 European PE Breakdown</a></b=
></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
</tbody>
</table></td>=20
<td class=3D"side-bar" width=3D"140" valign=3D"top" align=3D"r=
ight" style=3D"padding-left: 20px;">
<table lang=3D"x-sidebar" align=3D"left" cellpadding=3D"0" ce=
llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td>
<table lang=3D"x-sidebar-block" width=3D"140" cellpadding=
=3D"0" cellspacing=3D"0" border=3D"0">
<tbody>
<tr>
<td align=3D"right">
<table class=3D"desktop-only" cellspacing=3D"0" cellp=
adding=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td style=3D"padding: 0;"></td>
</tr>
<tr>
<td style=3D"padding: 0; height: 20px; line-height=
: 20px;"> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr> =20
<tr>
<td>
<table lang=3D"x-footer" width=3D"100%" cellspacing=3D"0" cellpad=
ding=3D"0" border=3D"0" style=3D"min-width: 100%;">
<tbody>
<tr>
<td width=3D"460" class=3D"container">
<table width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" bor=
der=3D"0" style=3D"min-width: 100%; padding: 0px 10px 20px 10px;">
<tbody>
<tr>
<td style=3D"font-family: Roboto, Arial, sans-serif; font-=
size: 10px; -webkit-text-size-adjust: none; text-align: center;" align=3D"c=
enter"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4=
n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXh14h6VMDklYSFPKB8xhNQioXic1qLKgu=
09-2BvfARx5jw-3D-3DDzze_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb=
cbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb=
2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG=
2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96=
I7pEZkbGJ5AoruVKgxnoaDgW0f5-2Fo08MKiFUXcGzOcXBI1EjPv8D197dfiR80k5WSJwAoxbnr=
CRao0woWJQq0MXVrU3dcNrjLtBmS7sujsRkx7NN7mwmRHMvZpXpoOzmxum1YT3-2FLLxz-2F12j=
pnKB3GbA10hkR3I9xkZee-2BxvQK4mQ2qR3l8QY3UhNVQEh-2BYOUrFvKDyYFtMGjXRL0OAXlYb=
DMxkMpWxmc6XZIZapc28R-2FP2l4PNJTe-2BJh6YApZ8sgNH0wK43NPGIL5wZ688fbuIuBVpzC6=
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ne; color: #1D5080">About PitchBook</a> | <a href=3D"https://url6380.news.p=
itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs=
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LzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2Bpx=
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b5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2Bu=
bLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0fkf1RyfdZwUVY=
lGn-2Fe9Ibz5XOP5GwHObqZBJnpz12uDoBzDA5mUwO2c4iFqnbm0UW0l4lo-2FigL2mJDZVYvbs=
YK8SpBY5qwy6pzwg-2BmZVanD87u8bPbc2KpuelHm-2BnpCDJFdwmrb7mWYHF2tTz-2Bn1mjXec=
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upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXh14h6VMDklYSFPKB8xh=
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rsal=3D"true">Contact</a>
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<table cellspacing=3D"0" cellpadding=3D"0" border=3D"=
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<td style=3D"padding-right: 10px; font-size: 10px;=
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<td style=3D"padding-right: 10px"><a href=3D"https=
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