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Content preview: PitchBook Newsletters SpaceX's AI premium is cracking; Cohere
buys Aleph Alpha for $20B; our new model to predict the leveraged loan default
rate April 24, 2026 | Read online | Manage your subscription The Daily Pitch
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me=3D"n_580138" id=3D"n_580138" 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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tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
font-weight=
: 500; font-size: 20px; line-height: 26px;"> How niche specialist managers =
are winning LP capital </span></td>
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<table border=3D"0" cellpadding=3D"0" cellspacing=
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">
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cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
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0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By =
Madeline Shi, Senior Private Equity Reporter</i><br><br>
Last year's middle-market fundraising figure=
s make for ugly reading.<br><br><b>Fundraising for US mid-market vehicles f=
ell 43.3% to $94.8 billion</b> in 2025, while the fund count dropped 41.5% =
year-over-year, as more and more money flowed to the largest managers, acco=
rding to PitchBook data.</td>
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cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
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ing=3D"0" cellspacing=3D"0" style=3D"float: none;
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<td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUuARpNj24sz-2B-2BJq0R8jnSiKZnKr=
08OceUORb3aUbXPmA-3D-3Dmzcy_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B=
iQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQ=
qkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5=
lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WB=
dPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSPCJqEf5MalqDbScZUwZV645FnV4cbE=
7N9oqWcqod-2FeT8OSbkaFvBm2J-2Bmqcc-2BsReoDGZJrpBGfgcen4EyZLo0Jz4n8YnNPyrYDM=
2dWxpaV-2BSK2WAq8BqjUduznEeWCjr9dGu41mZhgNHqpMwJqs0-2BH1FYjF3LXAIFUpH-2Fmt3=
9qGuR5XqFht8AuZHSPBvz2He45JjZBpOs5Jz1YHQtshPlxE96peV6-2BIxHulq-2BmaMaqxTYPw=
-2FZ950tKj16cGzzLg0-3D" universal=3D"true"> <img align=3D"center" alt=3D"" =
src=3D"https://img.pitchbook.com/news/73933.png" style=3D"border: none; wid=
th: 100%; height: auto;"> </a></td>
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<td style=3D"height: 20px; line-height: 20px"=
> </td>
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=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
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<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>But=
a cohort of small, highly differentiated managers have closed oversubscrib=
ed funds</b> amid the gloom=E2=80=94some in as little as three months.<br><=
br>
Many of these firms are focused on small and=
mid-sized, middle-American businesses in what might best be described as u=
nglamorous sectors.<br><br>
The largest first-time buyout fund raised in=
the US last year, for example, was the <b>$570 million</b> Good Springs Ca=
pital I, anchored by the Chickasaw Nation. New York-based Good Springs Capi=
tal invests in industrial and business services companies. Two of the three=
investments it has made so far are in heating and plumbing companies, base=
d in Arkansas and New Jersey, respectively.<br><br>
Earlier this month, Holleway Capital Partner=
s, a Missouri-based regional specialist, closed its second buyout fund at i=
ts $175 million hard cap=E2=80=9440% above its $125 million target=E2=80=94=
after spending roughly 12 months on the road, founder Holly Huels told Pitc=
hBook.<br><br>
The firm focuses on control investments in i=
ndustrial companies in the Heartland and Sun Belt regions, including manufa=
cturers and distributors of industrial products, as well as service provide=
rs. Its core targets are businesses generating $2 million to $10 million in=
EBITDA.<br><br><b>The success of firms such as these is partly due to the =
way investors' priorities have bar-belled</b>; if a manager doesn't have sc=
ale, they must have specialization.<br><br>
"They concentrate on specific sectors and su=
bsectors, with a level of precision that makes it easier for LPs to underst=
and where the edge is and how value will be created," said Jaclyn Rabin, a =
partner in the fund formation practice of law firm Cooley.<br><br>
=E2=80=9CIt's no longer enough to simply say=
, 'I am a generalist lower middle-market manager,'" she added.</td>
</tr>
</tbody>
</table>
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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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tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
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vate market decision makers </span></td>
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0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Reach =
the C-suite leaders shaping private capital with trusted data, actionable i=
nsights, and high-impact advertising solutions designed to elevate your bra=
nd.<br><br><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du00=
1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHeoncPLIo=
zEZEYpLLkg8ETKw-3D-3Dh7yG_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
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2xrahKOqjLyLykJVjwG92GMT1HlyvalwN4526dsNVuNlM5K1JyaUhdfjC9Jc9M0lJ-2FsoE6K0E=
bGkip-2Bk8ZGVKfLJssT-2B-2B1YcJQcjmaNSZuuZOqX2YgI57lrqmFLK03GckZexSqCTjEWF6x=
rRijAPDeU-3D" style=3D"color: #1D5080;" test=3D"">Explore advertising and c=
ustom research opportunities</a></td>
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nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
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dth: 100%;">
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<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
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<table border=3D"0" cellpadding=3D"0" cellspacing=
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<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%">
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0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80=
=A2 <b>Canadian AI startup Cohere is to buy German peer Aleph Alpha</b> for=
a reported $20 billion, as the push for sovereign AI systems accelerates. =
<b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4=
n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHeRoIKlzK8TaC=
-2Fc6V-2Bo14-2Feg-3D-3DudQ2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B=
iQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQ=
qkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5=
lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WB=
dPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkQo-2FKOduc8Vca20BTwcpCbWJHxs5fc=
NPPdAA3MadKSphPvuBrgkVA2Qho0vLcHwNZ0y5p4VQFxz9gAuS-2Boim4JmjWQhM58dFeGahJFK=
thBlOmcp3lfjHSf4M82RgcAe0PZfZRpRoP5Qxu-2FzAI8BhiCHu1Qr5upEiuA0-2FPUyH7J5Q7g=
Sxyotq7Ypoj9HFjLOaMpu3YaW5k8hFJ0Xkg71jHgl1shWqadyf2EzF3aPB7Z0GqWK5NLQOXWoEm=
ttFgMcA7w-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Find o=
ut more</a></b><br><br>
=E2=80=A2 <b>Just out: Our Q4 valuations dat=
a for public companies</b> in the AI sector. <a href=3D"https://url6380.new=
s.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON=
nvsnswouzXSVnT7nSOHPuI1WfuIjjHeLj-2FLNHzv7SZPqexFzJknvw-3D-3D-OC5_Pr966knua=
Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9R=
scb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFR=
DcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3=
xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLX=
AAlT5rkSv8pCYp1rXJnApPrOh5oA-2Bx32476ySXnFDh0CpEPkCFRR0NiZ4OXLr7Fnn7eR5s8tg=
KmPZ0dzNvrsZyyAdvP84MIu2oFJwU4mKZPTJJXS1-2BTJX7JGiVb1VY25VIAOMq2rK-2ForK-2F=
yVwMTj3SfPfeHD6h-2BvFLMv4AGBS-2FwyH7aCwvqvFshy0WZ2PdzInAa2QAtLGjzFWZVthiccx=
KDfrOr39cJEeiruJlLb-2F3axSk4quiYUOGEMDpuMNw7ikXWDHnA8-3D" style=3D"color: #=
1D5080;" test=3D"" universal=3D"true"><b>See the data</b></a><br><br>
=E2=80=A2 <b>Software company Medallia is li=
kely going to be taken over</b> by its private credit lenders, PitchBook LC=
D reports. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHed=
k0DKcc0xYnmZHlKXC3d4g-3D-3Db0Vv_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B=
HR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDN=
CmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX=
5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6Q=
W4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkT1MpMrTiREYHHx30ObWc7eOO6l9=
pXS-2BguH2cav6rNIW10z6Zdhp0PElzJba-2F1pUzC7wnp8SSRs4ugIRb2c6aaUn1XONP5l1CZY=
IgRaYKZ6MS0SIifxUofz02bTRczGgn6JOit0z1-2B1ujexFEZgTNqQWxFZ89yvIKONXgAzCXY44=
6kGTsFuru4tYMezY1dqhXMxCm1cIohUisy-2FT5pu0abFZEdNRCfxhZw0pcaHLMan4hyWajD2ya=
pDxfDLGwvpOxs-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b=
>Read more</b></a></td>
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</table></td>
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</table></td>
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<tr>
<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 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_580148" id=3D"n_580148" 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;"> SpaceX's $500B premium is gett=
ing harder to sell </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-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHen6Qldxa9O=
08ZqF8i1-2Fo-2FQg-3D-3DwTJl_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B=
iQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQ=
qkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5=
lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WB=
dPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkQzRyqTl4sPztiUbcKwsg-2FaoS4YMOU=
9HsJWjJroOFOt6Z1XnjlJDVz9-2BlrhGkG4GA6jp0e8a8diQcMwFJetEp0BNmRXmBdTiQEifYR4=
ZEk8yZIS4CLBawhwfe2nMGP3U7iqUy9Wf-2FYIfJCuCs2B3AlYADVZJ8ExPkx0ctEPomO3cDlUz=
QHj29ak-2Fdukwe9zkLLOyeXvwszBiY3I1H9Y-2F2qu6SFplPp8nV30ObWKqtnJh-2F5Q78zMia=
rWROaLl33E7HA-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D=
"https://img.pitchbook.com/news/73938.jpg" style=3D"border: none; width: 10=
0%; 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">A SpaceX rocket =
rises over Pasadena, CA. (Mario Tama/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 =
Franco Granda, Senior Research Analyst</i><br><br>
SpaceX's agreement with AI coding startup Cu=
rsor=E2=80=94a right to acquire the company for up to $60 billion later thi=
s year=E2=80=94is the latest bill coming due on the valuation gap between w=
hat its core business can justify and what its IPO is asking for.<br><br><b=
>The $500 billion gap rests largely on an AI premium</b> that's increasingl=
y difficult to justify, <a href=3D"https://url6380.news.pitchbook.com/uni/l=
s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPu=
I1WfuIjjHexevUMIFDfziYVRG0RCmwDw-3D-3DalxG_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw=
lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0D=
eCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzz=
fILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og=
9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkTprlVEzh8JzKFkIr=
w9wzu5oQWZArZd5WuPPT8P0Kq-2Fs2itV06k6XFvgb54OTKzmTyHaW3k0jjVPryXhzg3yIZanVs=
5NsilfCBj88poCjFGXt89og5-2BzPGzmImSECdd2WtI5tQnKlmPny9RS96PDWoppPQ-2FGf8s53=
8VpBtkhavLepQerBRxsMjpJiqwfT6my88y9WxZrRqbV-2Fg4toiU017gDui26yNxw-2FAeicK3a=
ep6Ux47MdOiM6WVFwxMUybBZV8-3D" style=3D"color: #1D5080;" test=3D"" universa=
l=3D"true"><b>according to our analyst note</b></a>.<br><br>
Our sum-of-parts framework values SpaceX's r=
ocket launch and satellite connectivity businesses at roughly <b>$1.5 trill=
ion</b>. The rumored IPO target is <b>$2 trillion</b>, or 125x 2025 revenue=
.<br><br>
The company's running tab on AI efforts keep=
s growing. xAI spent $13 billion on chips and datacenters in 2025. In early=
March, SpaceX paid down roughly $17.5 billion of xAI debt at a premium to =
par.<br><br><b>Cursor both adds to its AI bill and acts as an admission tha=
t xAI cannot close the premium gap alone.</b> SpaceX will pay $60 billion i=
f Cursor successfully trains a frontier coding model on xAI's Colossus infr=
astructure, or $10 billion if it fails.<br><br>
By offering the largest breakup fee in histo=
ry, SpaceX is signaling that xAI's capabilities alone aren't sufficient to =
achieve its aims.<br><br><b>Dealmakers evaluating this IPO will scrutinize =
what the premium is for.</b> In the coming months, investors will watch the=
S-1 for how xAI and Cursor are disclosed, any further capital commitments,=
and whether the Cursor training effort produces a model that competes at t=
he frontier.<br><br>
If it doesn't, the $500 billion gap will hav=
e to be defended by the story alone=E2=80=94and that's a harder sell than t=
he one SpaceX's core business could make on its own.</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>
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cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
</tr>
</tbody>
</table>
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cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
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rf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHen6Qldxa9O08ZqF8i1-2Fo-2FQg-3D=
-3DLXSd_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV=
RYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrM=
aDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzOb=
zm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl=
6iFtK9blgdtVFgeLXAAlT5rkSuHjJvGVCjKink-2BAYgRlLIEK94SIIgilqoanDSu5Ff3f1oMXE=
0Y2upyFoaGbFYZyttlQKuaL6JrHupOlyTpNWjMeA-2FXdM2SRs7S8cU6KbTJb47hxGc-2FQqNlb=
LJl32SuVLVFYyxbOg-2Fgka02AIOc8Gt3ZZPBizRbKS3Q1m3TEMD4zWYnJlhct9igHVlKKGY4uh=
w-2Fk-2F3Wtl-2FSWn7shCX5mTquODT6xuz7CRx49wV-2FCiJdGRVswCsB6B4RfTajiOgvS8-3D=
" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-de=
coration: none; color: black; padding-left: 3px" target=3D"_blank" universa=
l=3D"true">Download the expert analysis<img height=3D"24" src=3D"https://fo=
nts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: midd=
le; margin-left: 8px;" width=3D"24"> </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 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>
<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>Rel=
ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1=
WfuIjjHevVZrLWeJoXzzzZv2YzyuGQ-3D-3Dr8s6_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJ=
YL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeC=
eCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfI=
LiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9e=
GK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkRoglQ59k-2BPQNyumv=
bexCEzqRVNkm5LoV9QHJJfF65qIMTIAZEZfT732OgbnahERlDnb5fRvtPb3k5N4IyERI84Nn4pC=
uPQuF8ikS12eewAz4doPgH9sJr5KQd7tOYlZlT5z5JpppK-2FQSYqKMyGenbO6AzJmE4hOnCTUM=
doOwnIgKJGbHYKPp02LynYdScS9VPM9X3gFsrf-2FwQ5tl4Zb93R5j-2FUQVbv0IffvBKhr-2Bk=
NZkx4uFdDpdkgjgzJvmVqYIk-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">SpaceX Initiation Report: When Venus and Jupiter Align</a></b></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>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>Blackstone is bullish.</b> Pres=
ident John Gray says the AI infrastructure buildout is the biggest driver o=
f the firm's growth right now, as Blackstone posts larger-than-expected dis=
tributable earnings for Q1. [<a href=3D"https://url6380.news.pitchbook.com/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHP=
uI1WfuIjjHeAEO2OPWZ3nP5-2Bx5ls5G0EA-3D-3DCz0N_Pr966knuaHmaw6c7pKvB-2BCEiDnj=
5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFk=
i0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOg=
JzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh=
0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkTXHFuUafSd3SA=
VPT7awTr21oEvZ7sMMRfcu3H5zgMLRIU98m4zdWZsFjP8BcXT0GZKyke-2F6Bkelst0GNjs-2BF=
SYmTKPQgG0pCjdUQhiS79XqT7ZBuPYUgivPtnKTP3jfiG0HHd0nG0WDlKquZK2Y8lgX9NHt8SPk=
7xHN1YS20p-2BdxleIh1kF98gAYQ-2FV-2Brx77TWHEwsn15vXW9mOF6MRjIp-2FnbkkMiCtwge=
jeBHyL0DwZGdlYDkrs-2BN-2FBlYyqVUdTI-3D" style=3D"color: #1D5080;" test=3D""=
>Bloomberg</a>]<br><br>
=E2=80=A2 <b>Teaching AI models to say, "I'm=
not sure." </b> Researchers at MIT identify the root cause of AI models' o=
verconfidence and have proposed a way to reduce it by 90%. [<a href=3D"http=
s://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHe-2FBxPzY0A8HbxTs6eqgzCug-3D-3DuM-=
i_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7o=
W18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0E=
MH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDx=
mz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9=
blgdtVFgeLXAAlT5rkR-2FYsxRZexUPAQHgYkA8MxVVGEjAiHuW-2BhA0APYFVRs3kgVXj-2BD-=
2BR4vHgBZYhEGXWpXduHmlIlfG7uxQVvbeag90IQ8ckQc4cDPO-2BY4zVocn0saXKnJ08-2FJOI=
730s6tCccS-2F0CGx3b1Hwj1CgaJXl2aN6o39oGatV52sZDZ5aZbG-2BlLtonQw2g10jYNarsSV=
fz0cRRS1FuO1tJom-2F0Fd-2FNijwQUMFkL15hk06NOhkbfcxTUjlofzUP7PUeFhqMXfts-3D" =
style=3D"color: #1D5080;" test=3D"">MIT News</a>]<br><br>
=E2=80=A2 <b>San Francisco has a luxe proble=
m.</b> The city's luxury home market is nearing a tricky spot. It's flush w=
ith wealthy buyers but has a shortage of mansions. [<a href=3D"https://url6=
380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM=
7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHeLKR6X3cawWjxSdh6cio0Bw-3D-3D6eTB_Pr966knu=
aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9=
Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWF=
RDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn=
3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeL=
XAAlT5rkTaQKiF1bDCgTch6yk3uogS1X0IJ6LZva3IKxlE26YlR5SsCKCRhhBmRwhux6Jqo7WxC=
UPWil3G3ZP9jLQk-2BzYN-2FGPEYxY1yNT-2FVLA-2BqGNp-2Fj75uB8XrHzugsnswrwBO8ggV2=
vAv96xhWFq5p6-2FVE23QA0cnfxy8CYc9dA8ehURUm9LPRofijUjCPwTv-2BLnxENtysrANSOfV=
VpVtxVPNkau4jpz7fUFmj33CH8FAoyyi5-2FY8MJ43LUo588uesqQ6wA-3D" style=3D"color=
: #1D5080;" test=3D"">The San Francisco Standard</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;">
720
</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;">
2997
</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;">
1413
</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;">
25
</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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Request a free trial </a> </td>
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<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%;">
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<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>
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<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_580144" id=3D"n_580144" 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: 2020 Vint=
age European PE 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: 68.04170444242973%; mi=
n-width: 68.04170444242973%; max-width: 68.04170444242973%; background-colo=
r: #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">15.01%</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">22.06%</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;">
0.23x
</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=
swouzVUvq6nMK2D69QA9BKoojD9C9s6rpZBK4zHAPRqhOL6kg-3D-3DtXqn_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bP=
bJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD=
83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fN=
HfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5r=
kTVVQgIfR-2FIpTDuRNKU6DVW-2FCZrsLVvMjMXXf2bXaTc9Ta4L84a63WdETnYhkEHDeeW6j7-=
2BNBXsPy6YN3O6XcuhZgbBaCfbakCSFjJrC9amYPtpqQCKL7e-2F2g1W9Jzvpfg9Z-2BXf-2FCS=
HN9P91lAnSgSVJbabsZGkKMNJEyUNzXUvrKXcJBOtwQuXduO0-2BJSaBlUqMsP7ZHvPG1E2qUAX=
FyYwQGXxI30jmujgAOh2Npe0nqpNVLM3dSNStbNX8ZNTUqM-3D" style=3D"font-size: 14p=
x; line-height: 24px; color: #1D5080;" universal=3D"true">Systematic Growth=
III </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=
swouzVUvq6nMK2D69QA9BKoojD9mwDxRZvQWHm5mh-2B90osmjQ-3D-3D2mZM_Pr966knuaHmaw=
6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4=
bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAI=
GD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4=
fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT=
5rkSRqGP8h8A8OEn9x3Fh5WcY53bNoO7givvqYNxJ3WsCSEVX-2B4rO7aG81h3nDr8OJDNst74t=
0kydk6nQ8U-2FqsdzmyI3gqecW1AV5aY6JOenykZuVhLzqiZSnHY6CAqrke8hVn36cMrxz0aKCP=
AsRQpdQhq9jVNDlTkcG3Y59p7lhm9u4PewuFwSJnGEqwebT0I-2FUKASDV2BAv8mSZEW03nZAWQ=
fjYEJSZcgRGqpcN4YmVjuu5Hp5HdZmBouXE70wSUs-3D" style=3D"font-size: 14px; lin=
e-height: 24px; color: #1D5080;" universal=3D"true">Beyond Capital Partners=
Fund II </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=
swouzVUvq6nMK2D69QA9BKoojD92m-2B27sXfO74aYtlSUK9D7Q-3D-3DJOUt_Pr966knuaHmaw=
6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4=
bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAI=
GD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4=
fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT=
5rkRSzTqrfRXnJ6EU6XP6IGEb0V1gShUMAu-2F8pv-2FgGw7ijr6TLO1AlwTNk-2F8BxeQTKzKA=
HFdMTXijh4PmYjtfFxAk4u3JXFEQJd-2BEx9-2B4E7hHqDKnr2MBvFEgM3dkIc4BX9yXLq9KgYg=
Qzu3yw21CFNO9t6Vt-2Fr-2Fgt766POWkXxAM58gjIhXAe6paGSVp3UNPnpORglltAVvha6JXlr=
2yfIR3spQqkhjsAVD0bMC5enlm-2Bvwh8-2BRlyifWnMrbEiSzEIA-3D" style=3D"font-siz=
e: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Oakley Capi=
tal Origin Master Fund </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-2BaqM7ONnvsnswouzVUvq6nMK2D69QA9BKoojD9yqoWU5=
6ThmalAvUxURA5Ow-3D-3DI2V9_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi=
QVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQq=
kFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5l=
ZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBd=
PI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkTzsGRGmaj02jehqb2fu4gxpEk56vZcuF=
-2BS3jRGzWV6F7aTId-2F7dMqICToCW-2B2yWcfuHZvULEULVd2sM50HXNXCcTckCdo0WuFtzHv=
llAONDTzZeOzv3lBzld-2BKIO3-2BuuNqVAP5TM8C07ZdJdGca0SF0Ow1rGhP65l1bXJS-2BNUK=
sLrWZPv8-2Bi3b6MRcbUT2HpfaB3zLLKbXEdQyGKOFhFJGykBYrfVaoQtxAaxQpu8LGLEe7tzUq=
WMRhKUwfWDO5iY-3D" style=3D"font-family: Roboto, Arial, sans-serif; color: =
#1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" universal=
=3D"true">32 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-2BaqM7ONnvsnswouzVUvq6nM=
K2D69QA9BKoojD9fkWfZLaEu7C6pMcvbnE6CQ-3D-3D22Mj_Pr966knuaHmaw6c7pKvB-2BCEiD=
nj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DP=
Fki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qL=
OgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWr=
Fh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkQy-2FT7rAn2=
k4Dd8NXWOn-2BNwhYAd9mZJzxOXlIh-2F8-2FyIRdTj1j4X-2Bx2oFv7Lyx8o5PIFRvrV058TZg=
u9VlIJn-2Bo-2Fl-2FwK86HIFp5rW3VoxSi4tU4XBBPWEVfdjbChY4q6W-2BsfnnOYIjGWMSjxm=
G1xdE9ie-2FRrPNd5jEt0bC-2FrkhUJXJ-2FjDTYRSas3cLEN-2BjGXBnc04sCDyjNGGFFLTL4C=
ETqK8fUCzyY40nCC3-2FjIG1-2FLRnOowzAMS-2Bkc-2FG-2BuccUdqGI-3D" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">PitchBook Benchmarks</a></b><br>
</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 class=3D" " cellpadding=3D"0" cells=
pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20
">
<tbody>
<tr>
<td lang=3D"x-advertisement" style=3D"padding-bottom: =
20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzVUvq6nMK2D69QA9BKoojD95xJAbkGYMLTehwC-2Ff0Zicw-3D-3D5=
996_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM=
7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS=
0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7X=
Dxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFt=
K9blgdtVFgeLXAAlT5rkREiAVkgDpgPPlXsVsHeNVhiEXhOmo4slZuPTXQYseW2SGg2B9RZwEby=
MHRNFanc1-2FVZtP8NmrVgmxb0pP-2FStRBNGSSBKSGB0B74jbryUtwYPiLM6RflDa4MOoIok7o=
SDEnIc0TdixWyLWdTDpKKui8uFlQzIXoL6n4F6o1eghGc-2BN0hzQJvlK3a45AglpIQVWY-2ByK=
A12v-2FVGYF3SAdnhmTva8t5-2FPOILE9e1ukj8KlLSNa1CBOYZznTM2bgr3HHOU-3D"><img w=
idth=3D"460" src=3D"https://img.pitchbook.com/ads/ad4530/Churchillmarchhba.=
png" alt=3D"Ads" style=3D"padding: 0px; margin: 0px; border: 0px; display: =
block; width: 100%; height: auto;"></a></td>
</tr>
</tbody>
</table></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>People</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>The=
Carlyle Group</b> recruited <b><a href=3D"https://url6380.news.pitchbook.c=
om/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVUvq=
6nMK2D69QA9BKoojD94g0iAuu-2F30VbokzAiif8gg-3D-3DzVpB_Pr966knuaHmaw6c7pKvB-2=
BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85=
FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2Fyk=
Gg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBF=
ZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkQvDSV1=
z8umADSIQ8tEOW-2FKoHcZNQww7ME-2FqWg6I9TzjxKW8n4odE2ZV0Qajg9rsqs-2BoiLjyBKO4=
7dVf6HrFNSqxcVyetIGHktGOjv8TuyVoX41Eit61tckrVhOoC5FfBsHxFNASWRlpWBKZbIb9Si3=
hPRKLe6WLpznj1NNE6TuqDc-2BHfrq-2Bg-2Bs-2BSMzOYuGzH6DuGjuGTCMe4OW4LoKr0n-2BS=
KN-2BVco6KHdM3BDd6PhI2kBtTvBJ6QTJScx69bNdHuQ-3D" style=3D"color: #1D5080;" =
test=3D"" universal=3D"true">Daniel Tanase</a></b> as a managing director b=
ased in London, Private Equity News reported.<br><br>
London-based VC firm <b>Balderton Capital</b=
> hired serial entrepreneur <b><a href=3D"https://url6380.news.pitchbook.co=
m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVUvq6=
nMK2D69QA9BKoojD9grGPBTP98G7VinN84tJKkQ-3D-3DdpVf_Pr966knuaHmaw6c7pKvB-2BCE=
iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2=
DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8=
qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNO=
WrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkR6Id3pnwC=
hPbjvkpIVE9QMZAV4wHnDQX1fguwtdxlwA2D4qbqQwGyXwnSikVFvAmBc7PZZhz232Kc4tNcvaG=
jiCeSaBbl3xL2kPmS5ElDNy-2BtOdBx9mbssXHTw1E-2BYPsnhM3iQcCbfMsl-2Fk8e31ngIeag=
IPb9Lq3NRWRK-2FjuYT7SW7E2VLNT2Gqdd75R7z0WD-2BuCMSsfYam3LI9lzfYNFq9aIjkvyxjj=
AY7pdQEbMX5qBzl-2FM-2BuOdWzoYqyDCppW0-3D" style=3D"color: #1D5080;" test=3D=
"" universal=3D"true">Phil Chambers</a></b> as partner.<br><br>
UK mid-market PE firm <b>Bowmark Capital</b>=
promoted <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVUvq6nMK2D69QA9BKoojD9U=
MjtEkc0NXtYnoOYoTstjg-3D-3DHbAf_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B=
HR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDN=
CmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX=
5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6Q=
W4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSWJNzt08GN-2B-2FXHgsu41Gkco=
0NfWdTwsCp-2BSFgQK9aU-2BNh2MQmGpQUO6k5C6BiOU7UNeneWfrtLjQnIZ6M-2BKMagy0sZUa=
etX3bU8hKjLKO9QCAhi62PBUcUCBoWt7LK91oFxfnk5GDfQ68lRV8YoviBCXopnZPeXwLGwtiuf=
gURhG3r6D2RFwcgpBceX7058KVBLOjysyb-2F6Grp7KIcZggMwNfr1RfrU0lkhukrUeXzhD50ex=
3cKkjOq-2Bjn0lNGoqc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tr=
ue">Jamal Lakhani</a></b> to investment director.</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>VC 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">San Fr=
ancisco-based <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click=
?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BK=
dI4ebNpoQNWkHWCCnVH-2BLOk1CTXlg-3D-3DD5xw_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uwl=
JYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0De=
CeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzf=
ILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9=
eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkQ41puGn4skGiEjcuc=
WCdYgHOO-2BhOXqyqNICI-2FgkJbEWX-2FqwEKV9VyoYyZYPJb24zCH2ma1oAeBsAvzmYtRgYnu=
TE-2FYwoif9UdXemXi1dzwxgSacZjTr3kE4eQMPJoiaIE7yc8ZGoJVvOPPAwaim7ih15CSfqsZl=
h0nvt0jvc3PlhYTpWFK6gB75vAqS8MmuXwM6aWNda4Igpp9U4dujRlox-2BaZHFKAAi-2BSnQMj=
GX249ylP-2F-2FOUpLuEOUVyzSsngoI-3D" style=3D"color: #1D5080;" test=3D"" uni=
versal=3D"true">Omni</a></b>, an AI analytics startup, raised a $120 millio=
n Series C at a $1.5 billion valuation led by <b>Iconiq Capital</b>.<br><br=
><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d=
4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNp3kWc-2=
B0ooWnGuKxv6Zvs-2FTw-3D-3DGPoW_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BH=
R4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNC=
mMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5=
Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW=
4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSweodTgE8FndO-2BXpwG3W-2FDRP=
05oekkkKtwrw9ZHEVNcW-2BtHBdV6-2F1sYq1a0hSEL5L-2BdS96Njsb8Qm-2FGrlhCZpqzxaLr=
35RW9bsGCnqnbXxirzJD4NUYBYPY15bcDcB6LiYzgAxKjayz3XPgxUvvFjtcbQZzy2xyIGrsRLU=
ZRS0oZcrXZckwLR2OO5hf-2BUoT9y7EsfDAqrrwSn8JKcEmItJO2kPRiD6GPdIsldyODwpsciif=
M5VsWCPwHSTU8iUp9o-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tru=
e">Tortugas Neuroscience</a></b>, a biotech startup focused on neurology, r=
aised $106 million in seed and Series A funding. The seed round was led by =
<b>Cure Ventures</b>, which also led the Series A alongside <b>The Column G=
roup</b>, and <b>AN Venture Partners</b>.<br><br><b><a href=3D"https://url6=
380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2=
BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNpFMKjXe3F69IOGDqeD-2BEzTA-3D-3D17-=
b_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7o=
W18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0E=
MH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDx=
mz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9=
blgdtVFgeLXAAlT5rkS8TtXRfj9ETmbf8mKKE5Xlqr2tIhxeuz03I7EQPen5PwTrz-2Bodp4yFP=
GWk7JTLPfTnZKeiTuGsMZvmP5TdtD1Di7JNHxzr0Kwvpomtnyu2m9xtNAiNSK62H2hmnBhScAUt=
ZIPPiVTD0rtym0ZuNC83nQ3O7flcY-2FDIkJFxSdlEuhDNtW-2Fze1Z1CYr19GuaXSrZz-2FqZV=
JpRjxPaxlKHz8TcrOoJrqzfghb3-2Fp54nm13gnbHnMtDNoeX4YOKTeomP0I-3D" style=3D"c=
olor: #1D5080;" test=3D"" universal=3D"true">Cloudsmith</a></b>, a UK-based=
artifact management specialist, raised a $72 million Series C led by <b>TC=
V</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click=
?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BK=
dI4ebNpVCI-2BeerUV9h9q0eUTzSM5Q-3D-3DWVDZ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uwl=
JYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0De=
CeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzf=
ILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9=
eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSciVBJ5bv2Auz35Cr=
9PObtXu2ZtqKZf24WACDx0k3jAazp0KgTyfUbDw7F-2BcbCg8F2B3Z0FP1MurufKKFm-2BqiAsO=
aPFLYT-2FdCfvzAcW8WDyIohJiWT8SYU6u63KVUrKJvvyJ1hYbmLkRgZ23sTmfwd9fQEdarCSmu=
tWZTZ-2BurruIM1dwR1IQxejUY2JfeDm2GVY-2F4EZpGba3gqkny-2FymRa-2F6gFvmUYfOBBHy=
ZR4NZQyRETbQ9Z1g9InAnFGKBXz50-3D" style=3D"color: #1D5080;" test=3D"" unive=
rsal=3D"true">Orkes</a></b>, a workflow orchestration startup, raised a $60=
million Series B led by <b>AVP</b>.<br><br>
Paris-based space infrastructure developer <=
b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n=
73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNpdc4I5ZRs=
X3tO9twBQ-2BpW5g-3D-3D82ds_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi=
QVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQq=
kFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5l=
ZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBd=
PI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkS07frpN-2FmAvKVs-2FOCGD3yU-2BdjM=
tscjVlqBulmmZgGVIfTAKpU20dMcQysYseX9Obcufer-2Fa0vNGpz6LpGLi0P9hECrg8fBahGNm=
ceWDTKup8OF0X83BHR8kabbH7sPzlgQGNgV9yBciQiQpCSRCgfHNaeHL0jq0w8pfQesFj33thTQ=
cjgmNlVpgNyDp-2BdC-2BCp8kwAp77vF5GlQLTlEjWCVLDIwhqbBAEt3iliMBcLLHpCxwwp8ys1=
w7XLFuZs43bc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Uni=
vity</a></b> received a =E2=82=AC27 million Series A from investors includi=
ng <b>Blast Club</b>, <b>Bpifrance</b> and <b>Expansion Ventures</b>.<br><b=
r><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNpqsoLi=
gfvdGVPbXO0z9rzdw-3D-3DK432_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B=
iQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQ=
qkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5=
lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WB=
dPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkTfQ44ppjN6n1jQQWc2meIos0aFozapd=
yRlnAtkOoiAadkLn6tOE-2F5eeCoFSF9Oy1IXX0Yh9Yqbaz9uNnc-2BQ6OeoJtNoXzWHHfgKqE4=
MCZwuZW7Lsah-2BOzxQZ7zyuEleBqFc9VyULEx2kI2U2EKc-2FnyJF-2FYgjJgyhjWdjbS235-2=
B83UHZ3Mn9X1lzSf5S2rAiGSFA9VeXmc2Q7-2B8Qib1vBzCPGsFodIip4LDKna4cla2fPIDvAJj=
WYznkcTidR7VkQ8-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">=
Decade Energy</a></b>, a Paris-based startup building power infrastructure =
at logistics depots, raised =E2=82=AC22 million in a round led by <b>Eiffel=
Investment Group</b> and <b>SET Ventures</b>.<br><br>
Barcelona-based specialty coffee distributor=
<b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d=
4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNp7CTz4Y=
9DGn7L5LnE5IjF2w-3D-3DrgV5_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi=
QVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQq=
kFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5l=
ZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBd=
PI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSeGiTHBj1ny0ZoyL4DPPUc8S6v6m5PZD=
XsysbrCwCC-2BBHvbMKRQaTjEdhT5gCMQWHOZmS2yw3G-2BMlaWeGG02BjMt-2F44jE9Ca1Vgy-=
2F6BGwAd5HGpq-2BUleivU9baBIROsqTw2lUkYsKlJ-2FhsYzwGtVLwjLjGGViKRLcOGRaInBKU=
eJmvduvgjbYbmeuU1sB4kJDyhD0s61-2BS0i9VdY4FeiS6cY0lfQg6-2BymrnJJF3Uc6tIy-2FP=
ky-2BoZ-2B2-2B89vuhF-2Bp-2Bw-3D" style=3D"color: #1D5080;" test=3D"" univer=
sal=3D"true">Incapto</a></b> secured a =E2=82=AC10 million Series B led by =
<b>McWin 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>Apo=
llo Global Management</b> is nearing a deal to acquire the auto interiors b=
usiness of <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?up=
n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4=
ebNpBaH9NbdYeDMl9FMSYBHViA-3D-3DCfgp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0Y=
QP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuV=
Q0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5=
kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U=
2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkRGzw8g-2BvB5APbwyCIIvA=
1kMhvIbazQvyU80NoWVEvDwvGtIMnRQ9dyLE7XQT9OSqYddDNifjGdbz7Gh76Sx7XBGmFBYWrXj=
-2FGMiRD25Q6pTCeSspsod-2BgULBE1mlTRltu02tg3Ado4NDMN85j-2BYbLIkJ1yaJwzFkk-2F=
UaLQp0ZbLVToGtgBhfnTkkLbeFolinZ0rfTvqzDrd0JynPzkMtZvroamHetHqIxvqompahxVE4c=
-2Fiei1F4ncNUnd5Yu2Vl0-3D" style=3D"color: #1D5080;" test=3D"" universal=3D=
"true">Forvia</a></b>, a French automotive technology supplier, Bloomberg r=
eported.<br><br><b>EQT</b> is exploring a takeover of <b><a href=3D"https:/=
/url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6=
GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNp7dpUpMqbFbk217XJAesk0g-3D-3D=
-UmZ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYP=
M7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDb=
S0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7=
XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iF=
tK9blgdtVFgeLXAAlT5rkRJ1H0QB44IwkeTbjpJZBzldowznW4ZTQDbuJgZS1Id2GT-2FM-2FNH=
RpBzyRrvBu-2FzvPLQOYtVJsXraAHaeWppKnJZBWX1yXWEqeRz-2BkfIqr9ZDBrarelAjFgRsAj=
NkKTLz-2FpcyrE1vJdyJzQQntBqZDoHTg1s52nrYE12UZt1DhVynuX8SGLVigdQFa2qeyEMFawK=
vG5-2FGXVseXl03kHM-2FuHYbtWACyf-2Be3c5CJ7Pt-2FLiOppAQhAfj-2FhLuEmSMXnEm3Q-3=
D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Kakaku.com</a></b=
>, a Tokyo-based price comparison website, Bloomberg reported.<br><br><b>Tr=
ive Capital</b> acquired <b><a href=3D"https://url6380.news.pitchbook.com/u=
ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9Apzd=
zoA-2Fi-2BKdI4ebNp9wOqBQjQT1eic0Ql00HISQ-3D-3DhCmD_Pr966knuaHmaw6c7pKvB-2BC=
EiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC=
2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg=
8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZN=
OWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkS-2Bnxhk=
g0XyYKU3Apndhtm0QwSqpbXhrowOCksxiNnVwuQb3ZaQHEk3dR1Wmj-2F1vB4D0crshq1GmcWU1=
-2B-2FKt81KcOh-2FflYpMIpCTr-2B1OaQS8jQLtuUqvsMWPclaGxbVTlLBro603NeOLRJXROCz=
VJd73SgBKYuJVy4cDdkXVIW0K8kUEysfmFKkKMJB8nMDbNSED3-2FGhAQOgcaafnVJCX71mxiR3=
2-2Fbg2Qy8p0Fqe-2F-2BvnjewSp9EFy2rxNbmfXaP7Q-3D" style=3D"color: #1D5080;" =
test=3D"" universal=3D"true">Polar Technology</a></b>, a British carbon-fib=
er and metals maker, from <b>BGF</b>.<br><br>
Wealth manager <b><a href=3D"https://url6380=
.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq=
M7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm77NwkrpeNwVE5VI8Q9lX3vA-3D-3DS2hU_Pr966kn=
uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe=
9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPW=
FRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSD=
n3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFge=
LXAAlT5rkSIz8CLlsWbnGfnasT1hWDdyLnyujRxRDMOE6da30g-2FHbaCajUefGFkEQylD6Y-2F=
3iH8gnVEkSk0D5TjlW6cqHscaUcJC2VASsNo0bmrmSoGFBjKwltNTZ1gZAVd20BK6mvjlgRMt-2=
F-2B-2FU1lsDoC3nbLuzC4lQs9wM20bMCMQClo4SDLvhbN35XtwxxVTr519FwvApRPv62Bjtvs4=
hNDO-2BBqSqWgONtvco2cC13yUJEwMMUuBNSeC-2Fxsn1vaJ1hc-2FcwQ-3D" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">The Bahnsen Group</a></b> has agr=
eed to be acquired by Chicago-based <b>Hightower</b>.<br><br><b><a href=3D"=
https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7S=
pSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7G8dLx9zLuc354izGoSejhg-3D=
-3D2H_V_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV=
RYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrM=
aDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzOb=
zm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl=
6iFtK9blgdtVFgeLXAAlT5rkTMliWjVWfL0GKPs8CD7uSyCHnk7zUg-2Fg8UuI0H-2Bqth4gqbT=
umYbA5pLimbPWuel59pjObrGqEzKBxEfsbcGdggO88-2Fed-2FIDvMuphD27Bbf6byq94dMLdj-=
2BgL-2F4Z3X72BBBLeuqJneBCPYDgJlX-2BAPAwF7vR3-2F-2BEyLwaHQmwHf5pxuo-2BmTmkGk=
8c5BEb00mzqVspT0TjnaYEEj3l-2FuJXSbFGzOguHDHjreoh4gIYE-2B9j3I7f3SGyD7a3VQqBy=
98Xvc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">AireSpring=
</a></b> will merge with <b><a href=3D"https://url6380.news.pitchbook.com/u=
ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5=
vxtF6bx74Zjcm7RJ52GtSeI3mIiKA-2FN6Ma-2Bg-3D-3DiKNu_Pr966knuaHmaw6c7pKvB-2BC=
EiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC=
2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg=
8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZN=
OWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkReSjceHn=
blVglBe6AKYskaUmDf99Ho5VlUH0g269jzHvP16h1MJAPYSxwQv9JrFgZTvwz7T-2F5ZN0-2BI4=
1ylHwiydgBJaJUrqFiiKU8RoXacspTyNqgV2Zbc5SbvNG0naJQtYXg3hBvagSAtdNuJqINfTOKL=
S2i2aXYaoPx-2B3AOD9TNnOKZBb3rNN-2F5ZMQZiub7asVxVWxjuKi-2Bu3Cn-2FeeF3I-2B2tN=
MK0T6rlo09OjEF7lBMA4Pj8YPU7NBNuBHoqjhE-3D" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Spectrotel</a></b> as <b>Charlesbank Capital Partn=
ers</b> leads a new investment and <b>Grain Management</b> reinvests.<br><b=
r><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7fKNIn7xhY=
bxssojp6ntSEQ-3D-3Dcrzy_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI=
43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFA=
R3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAb=
uB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6=
ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkS0n1vywcdQgFLWnJB4LzvXni4sFRPwGW7Hx=
Guey5sreg8FoPqbYrAVF-2FYwy5bEiiyh79prqb3A4t43-2BA-2F3yNvugspLzCph8pFPVGcKBV=
BMAx6DS1549vqFwoP5yaUUfzjjW3zautwXu9mBr7d7vkOJa0spX9oQlYjQ3F7hIn1j1uVTvsHjz=
W-2Bz6-2FXpawqRyP31c-2BcfSnnBXvAJZv5GNshgd8PadKdnl5vSW9C6fVDEYGvUnDOs3qspB8=
00b5tTOMk-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Americ=
an Industrial Partners</a></b> has agreed to acquire <b>Honeywell</b>'s War=
ehouse and Workflow Solutions business that focuses on warehouse material h=
andling systems, software and robotics.<br><br><b>L2 Aviation</b>, backed b=
y <b>Argentum</b>, has agreed to acquire <b><a href=3D"https://url6380.news=
.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn=
vsnswouzUINuZgr5vxtF6bx74Zjcm7jpeeUIrnsJUHDZmJwVbrjg-3D-3DYtBG_Pr966knuaHma=
w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb=
4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcA=
IGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR=
4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAl=
T5rkRIGfX7zj8-2Bcxu4pSLTfVX1zy-2Fhrb1f-2F0LTwof-2F9uJQcgNbkWHSFmIsde0qULw-2=
FUC4sxVRDxdI9klDL8BXypKb-2BJRkkVhdZu9SWde8MVpCDlfGSOuFGYPIluxLnT3-2FLNgRPER=
uYeiIHanBJ9lbXLqiX2P0-2FjBJjQNsBlZpI0-2F1ac5zaq0O640GMZL9FpiG3BsmE6-2FGhF16=
5fkFIyX4HDO0Y3-2FzCKfSMq1KBn7KOVX5WJDwgHyJRuoWS2iPi5rVXs4I-3D" style=3D"col=
or: #1D5080;" test=3D"" universal=3D"true">Advance Aero</a></b>, an Indiana=
-based precision machining and sheet metal fabrication company.<br><br><b><=
a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm71k8X7eT7e3xbMqW=
V-2FjfrEw-3D-3DDJRX_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb=
McVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ER=
d-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8A=
YWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2=
FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSfFRe4XnRXshS8i3d5tAFYRbPd107hzygaLBp5L=
-2BOyZcqeZ249As4jepEZEeqRfp37P-2BI-2Bi9rrXSaRWFzKjDf7QWXLcJOkbdnj1sx9Ska0Ck=
LO7HX-2Bs4R1WL56Phu7IYOluxzOgSygoMe2DRaTEn8hBuYVrZCbaTax5CDv97KXumdlhN2Bcwy=
QxBh0lefdUmR1m8XW4XrQ6Mxqs36wlybnKbavqagfph4Vgza-2FkAsf3Yn-2Bs-2FUOIKDd6Ou3=
QEY4PWA-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Conserva=
tion Equity Management</a></b> acquired a portfolio of nine mitigation bank=
s.<br><br><b>Triton</b>-backed <b>Flokk</b> bought <b><a href=3D"https://ur=
l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa=
-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7q3rHWZBa-2BdaTzsUmamZ8RQ-3D-3DslMQ_=
Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW1=
8S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH=
-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz=
6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9bl=
gdtVFgeLXAAlT5rkQS-2FOvFNEDIq-2BHqZ8Kpckr3xnvsv2oclD0UQ-2Fp1FgOztD45-2FMcn4=
9xElZby23duPjmubvdZMoBYmS1UPFcYtvOMT5w4WmZnvoVrcJE1jgqV6UUIJIWQgJFlGH9-2B1R=
gujmSHvwagfnAZoZPNtdel24Z3o7vCsUNX5PTQrWXJuWsFp6UASKwH-2Bw2syc7mpc67sEvKNBR=
ethiGefVXsPfiMlk1Keg9pbhJnekGwY81kzRxRpCm6mB4ILstJ0n5KUXjYKs-3D" style=3D"c=
olor: #1D5080;" test=3D"" universal=3D"true">Spec Furniture</a></b>, a Toro=
nto-based furniture maker for the healthcare, education, corporate and beha=
vioral health industries.<br><br><b><a href=3D"https://url6380.news.pitchbo=
ok.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouz=
UINuZgr5vxtF6bx74Zjcm787SK3zOZZIOCTGlLYn7qrg-3D-3DcPkU_Pr966knuaHmaw6c7pKvB=
-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb=
85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2F=
ykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZx=
BFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkTpcz=
L8FBVBrCnbqqx0DJnyl36vKo2xypTBsgBabIk38dHxKYmqaUor2Qgm8TeX3ggOAXIx8h3AhIyH-=
2BvkjPY-2F-2FEeFQs5bZjB-2Bz2Dg58KtuMgtVWShksREqcvL8cK-2F9zm9MsLkzKARtqpUL57=
eRUJH4stLVjwPfFCPRPdMy-2BGEEsx8qTz22ewRzbq7kuF2a3x9TV8x9qbYRdi08ITin6IJ8ZpD=
y2PAbKc7ZRweP9VRqO6FRq2tA0h-2FnCTdrhJQo-2BiM-3D" style=3D"color: #1D5080;" =
test=3D"" universal=3D"true">Valitana</a></b>, a Stamford, CT-based provide=
r of analytics, workflow and portfolio management software for structured c=
redit investors, received a growth investment from <b>FTV Capital</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>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><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7mOunfvXWEBzmpn-2F=
wexD2JQ-3D-3DUfBZ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc=
Vf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-=
2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYW=
QFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FW=
b1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSV0DrOExmJ8LMYQh28KT8oWuyH2jaH6aNO9bvvexS=
9-2B8gVhfM9yz6txesCKkmne74-2F-2BIDEaIJrTo62y-2FvqmpK6Ps7Ty-2BtueyTkojY-2Fnz=
8pRsVaTEzKBJiWq1GU1LQQxEHAqJ7AHhcTrK2vv7L-2FD4fE4IxAMP-2Btui4JZ8k1BNsysoi71=
if79k54R7AlJKx2VNX3q8nd6jmj2cCJL8RtxAOzPY-2FQoewL5FdP3T-2BRbEWJmPj3FhkixEgH=
oBLOlvYFPdY-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Ryft=
</a></b>, an enterprise data infrastructure startup, has been acquired by A=
I cybersecurity specialist <b>Cyera</b>.<br><br><b><a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7cxlS7aaeAcu-2BlucchaAExA-3D-3DQp5W_Pr9=
66knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-=
2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2F=
DdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OO=
ksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdt=
VFgeLXAAlT5rkSqRkwREQs8mcUX7uok2jb7u7yPljVDJeQ3r3J5HG1AxnINVRH3X2a-2F7vkCue=
KeD9UVDjR6w7Qd1oaSc-2B5N7fAp6nrDmcFodmFtgE3txZINCJhzgHrIaGWwZhuKbJFjdx0l-2B=
QpO8P-2B2WfHECtvY5p3mj5CjjMZjYG4wwjcZrF2p2y3eUl3w-2BJNPNL0-2FSzCQZpqSJ0atuA=
mpSwsrAP-2BlhZsC2D1DKcJPGWIK3Vd3-2BhdMcZ0SK045C74DwJK-2B2E-2BGZgI-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Onyx-Fire Protection Serv=
ices</a></b>, backed by <b>Blackstone</b>'s Tactical Opportunities arm, has=
agreed to be acquired by NYSE-listed <b>APi Group</b>.<br><br><b><a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGf3jQ1QP4j03IPIN=
wVLF-2B7A-3D-3D92Y2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb=
McVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ER=
d-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8A=
YWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2=
FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkTpNttryUuALCyKgyEK1z7i-2Bvd7pq8uVJq8ayw=
yfft9nMZhSmesKe6nnB50Lnm9SaRWI3hX-2FfcybX6jiTLjr1KRcSt-2BdS4LvQEMB-2FKtYLrX=
zysmuGFTh1CcklkUPGA2xjpteT-2FtptpguRtx64-2BuZJqWZb4533mqU7X93wsZxli60sMySX6=
dgAW893Zg-2BQoOMPDzMguCJ-2B1g9KvKpMnG4ywAefUu3bVhM50VWSV8iYIeq5mxYLsSkjtojw=
JUljFvolc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">The El=
met Group</a></b>, an industrial manufacturing company, priced its IPO at $=
14 per share to raise $120 million.</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"><b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikG1tuLoFBXc86=
Ik73aNNPp4w-3D-3De9rn_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43=
kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3=
ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB=
8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko=
-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSH4PI7O2cLlpLvvsFny3dbK6UpmFTn-2BB6tf=
GN7UPKdsAy4i8Cjp9OEfBu0bdZeSQcGHHHNEAvj5BQaoVWCN0S83vShA9qpiiYGolfAmfLc0-2B=
EfU4XUpV-2FdDU-2FxOgbKZLxm5bR9IJZhSWoRy2UGFr8ObfUU2IOxbEZfjFgFwuKnxVfBlf2bU=
Yg6AUM9SYi5552SZBcP8dPQdtZN4DmUIr-2Fxf3KW3kAg8qkZOjeqOloDne-2FAo19MjQ2FVCiS=
Ub5Fbcc-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Blacksto=
ne</a></b>'s flagship Strategic Partners fund raised an additional $6 billi=
on, bringing its total to $11 billion. The firm also said its secondaries b=
usiness reached $100 billion in AUM in Q1.<br><br><b><a href=3D"https://url=
6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-=
2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikG6OjgRcy2S-2BAl0QG4s1hs-2Fw-3D-=
3D4d2H_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR=
YPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMa=
DbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObz=
m7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6=
iFtK9blgdtVFgeLXAAlT5rkSO2CQgG2OZmuKILEFyIfugqNRPgDXckps7wcnEwp1W2kHY-2BNRa=
uTZM6oKKOt8pHQJAgxImDMLMCnzZtGrEdSw1c7BI-2BohLMf8twS1urS7oeDnQvCGICDoBW20Mr=
I04X4cMnpufQNPD1V3TGdnTZjq7Wa9hTxowv844jM8IQb4bsHdGU-2FB9qrg8c0ujS7AdDA-2F2=
fzZy98SyUhqgTljzpLlvo4mZuv5vivKY7UQmyvMJlXdZzyqxVCHgJs33mcwC74E-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">StepStone Group</a></b> r=
aised more than $1.58 billion for its second credit opportunities fund.<br>=
<br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00=
1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGA=
yo-2Bgn6W9mq6Q43tXd-2FCHg-3D-3Dwgt2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQ=
P-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ=
0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5k=
yNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2=
Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSNGzxh9aEk5mfscQgXtROXi=
pnq8As4fnLBLJDDsE24OsWwdGgKxM-2FP7kIHYBA4YfWF7JX7Yu4E54-2BSKG8OmBqsHtWPFfoE=
hg6Uug-2BUm9Wjto2J8cJJ7k0K7dJqpVCItGmu1BHEz-2BYBbGWFd3o2xo05-2BKE7-2FIJxnfO=
FOvmrhmRKTMXKsSn0Yt2se3T-2FoWvdVjWx9mvvEL-2FS4s97PA-2FDJ4EBjZ6So2Ppsxs05-2F=
7xGVDajLpdv2aTozXM2CeS-2F6C5of8-3D" style=3D"color: #1D5080;" test=3D"" uni=
versal=3D"true">CVC Capital Partners</a></b>' credit arm held a $1 billion =
final close for its fourth dedicated CLO equity vehicle.<br><br><b><a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGsn0jOYJJ-2FQpE8=
2t1DgiW7g-3D-3DYfbE_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb=
McVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ER=
d-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8A=
YWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2=
FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkSfjoY6aB3Qme2HcIPh7WuObhaRfbUyM5JZuwvn5=
BS4yzZGaDFaXr6Dv2zyPUgJvcLfBH5ChCjwApXHfBUghB9BhplzXKUA9R01bybDrpq-2BxJ-2Bw=
cKjmtWqqz4x1XGCkZ9nWCq5X-2FmG1uzq-2BehvZBC9WIvyjqAmstEvpOHLwNeBU6p0r-2F-2B6=
drg2hdLQ09z9Km9NNcObHLpVQhYGs70TGppuA2vJyq0ATzzvz8U-2FFsYpfSTaOO3ECv1QTTTts=
Y3-2Fp27g-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lime R=
ock New Energy</a></b> closed its second fund on $640 million to invest in =
energy transition businesses.<br><br><b><a href=3D"https://url6380.news.pit=
chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns=
wouzV1zCgASuwmK-2FYh-2FiJ-2BQikGf2txn3TomeoF0CUJ1Ygh5A-3D-3Dmng9_Pr966knuaH=
maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rs=
cb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRD=
cAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3x=
bR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXA=
AlT5rkRrmIqLA2qKEX3SmDfghoY0cWW-2FtXRJMR1042BVv6nI3dYlHox-2BXAhIWvOVgPtNdCU=
2sQ2-2B0PACMjTIGAtIjhmL5gDRxXOWzxp-2B0Vun9Km36PALwJ57N3xwix9oGgbgV-2BUdO6SQ=
teMq0yLnQqyB3kTb6-2FX5dP3Uht3tmtNeqZ-2FHHuuk92yqpLJGZI9-2FgcmdBVdOLcO7zaX7-=
2FYyJWWoI75hihWm5D01iS9aHFBBdN2Y97KPKxm1A4uEdFYPj4GVIU2Q-3D" style=3D"color=
: #1D5080;" test=3D"" universal=3D"true">L Catterton</a></b> launched <b>Ch=
amp</b>, a $500 million consumer-focused fund with investor Mark Patricof a=
nd celebrity athletes including Kevin Durant.<br><br><b><a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGeS8KdQIDsztOpEaXJxOZvg-3D-3=
Dtf60_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRY=
PM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaD=
bS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm=
7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6i=
FtK9blgdtVFgeLXAAlT5rkQGQSZTg3FNOUTpEGtjjnh2DcopEv3vR5WNHOd-2B-2FBl8UBpPv-2=
BxeANG4H2NREkHWbckgGQtbyoZe1MOLDMsD2wZY3vbW8iVXIDwi7213fCzOgww-2BDTBxolOaj5=
oif4CCoMhUC7MziQlme4NL9CcD6J7jEN83IEkDKC0-2FasXdkvALW7emYrTPgbO20VDZRIMDu2j=
0fBD9o9YuuI5uj1DEGYfSOzIANgOuSXwF-2F7eN4W8yThGcJOoHllrZi9KOLMiZuXY-3D" styl=
e=3D"color: #1D5080;" test=3D"" universal=3D"true">Achieve Partners</a></b>=
raised $450 million to invest in opportunities tied to AI-driven labor dis=
placement in technology and healthcare.<br><br>
London-based <b><a href=3D"https://url6380.n=
ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7=
ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGhNcYcY3ddCBInJsfv5URfw-3D-3DyqRx_Pr9=
66knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-=
2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2F=
DdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OO=
ksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdt=
VFgeLXAAlT5rkQsG6bqf71OGIZWTznJ-2BZ8-2F5rUaiXJIi5L-2Fg8K6q-2FBauLIRM61IvUnv=
0ug6R1krWl9ckHNqkuA-2BWXeMeN6QTlR5emToI3Z5XJyUxKqlE1zAeeiXo0FjSV0oeKw2-2F5j=
h2fdjqvkA2IlKjIou-2Fc8ssrJtbHbsX6jTE-2F1IgMdusP6o9zjD-2FG2LUfooVOFqLwoOeM6y=
tbO-2FMtEqRhI0XVfP3KaiC1r5beao77d9XXaHHnwyS3Q3-2BUQ6oGih7ioBsjZpmVM-3D" sty=
le=3D"color: #1D5080;" test=3D"" universal=3D"true">Pantheon</a></b> launch=
ed a global infrastructure secondaries evergreen fund.</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-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGGpp=
yFU4AKSy01IrTx7tJgA-3D-3Dk5hL_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR=
4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCm=
MQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWFRDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5P=
c5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4=
WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeLXAAlT5rkTJVrhGEjnFklHzQFvHQyT1-2FZtrg=
jKsGwTYfBfztMu4zK-2FVGpuMAWnlPQ5MprZIA-2FyRUAjuxJZDxEqgA039prD-2B-2FOV-2Bph=
V5w1-2FQ2bsxASGFLkVg4Wla9F8sbyJrBA2X7z1YqMqEW69oJGcanwtwG3uvFNLyYOwG8IJeUJg=
HmQMpX-2FYTX5ieSMRM1E67hGR3G81eQl66K8gz9KjWEpkEH4oB16mBMrhBVqCulHMRgskBh9o0=
ZSBGve1P-2FRK5lZKDZC0-3D" universal=3D"true"> <img align=3D"center" alt=3D"=
" src=3D"https://img.pitchbook.com/news/73937.png" style=3D"border: none; w=
idth: 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">PE exi=
t value for B2B companies in Europe doubled in Q1, defying the broader tren=
d of sluggish PE exits.<br><br>
Source: <b><a href=3D"https://url6380.news.p=
itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs=
nswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGGppyFU4AKSy01IrTx7tJgA-3D-3DNHYd_Pr966knu=
aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRYPM7oW18S-2FAe9=
Rscb4bPbJDVb85FC2DPFki0DeCeCuVQ0XDNCmMQqkFAR3ERd-2BGXvkWUrMaDbS0EMH-2FDdPWF=
RDcAIGD83-2FykGg8qLOgJzzfILiW5kyNKX5Pc5lZAbuB8AYWQFXb-2BzObzm7XDxmz6OOksSDn=
3xbR4fNHfRZxBFZNOWrFh0og9eGK0U2Yr6QW4WBdPI6ko-2FWb1-2Bltonl6iFtK9blgdtVFgeL=
XAAlT5rkTMsL63y0fN6f8mBvVPOhAsYICSTJ8Bl4BRvWjwsO-2BSB8tiHlH4IQ3yxlxj6rOS1oK=
V5jdErxWu4fF-2B2o0UJiNGJG9r6xqb3VQHD-2FX8TdexnGzX8v6Nfgf89u-2FiOVThNf-2FEP-=
2FrHKuIh0Mp0Ya-2FmtzogRNi0ubGoH6ks6h6dVZCkUV12adUpKKAdgwYJplBHX-2BqasCTnvod=
pk5OW2X0UwGAyUKtg-2FPI3iJ-2F7yfn3ulg6R5uriP-2FkabYyoFFjiCgVm5Y-3D" style=3D=
"color: #1D5080;" test=3D"" universal=3D"true">PE exit value in European B2=
B doubles, but exit count hits five-year low</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%;">
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