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Content preview: PitchBook Newsletters Plus: PE finds its new HVAC, some IPOs
are roaring back & more April 26, 2026 | Read online | Manage your subscription
The Weekend Pitch (Drew Sanders/PitchBook News) The secondaries market has
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PE finds its new HVAC, some IPOs are roaring back & more </span></td>
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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-2BaqM7ONnvsnswouzXVoz1VhWR7MSHIF9XWYCMnmM7uPS75u=
dWQroa24kS61g-3D-3DMq8Y_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI=
43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB-2=
B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqCCV=
1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNusX=
i0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFInxnnhK3KU9ivHk5=
L3r24Mv7Y-2BG-2BeUFa8j53tqPuZ47GIv7tfQni5pwCf6tPp7HYAwNuTVfdMlrgovJJEWxzLo-=
2FXJ3a5oflWLPwWm34Xriw8B9Qrljau4Kxx-2FYE023P9GyoJy0ftsDm9oLPCEDSMuYD2-2F5HP=
88owQKr8jky7HSbk7P5Zt-2FKxa9XKjl-2BkVZ7wdhJzlkVPtXaK1-2B8I0VKscxKIb6n8UoYz8=
6z34Mw16iG0l2TmJpcp5DVmLlALDo9U9TPC-2Fse5V-2BmPPB7QfM-2FQjUQ-3D-3D" univers=
al=3D"true"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.co=
m/news/73929.png" style=3D"border: none; width: 100%; height: auto;"> </a>=
</td>
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<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">(Drew Sanders/Pi=
tchBook News)</td>
</tr>
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</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">The se=
condaries market has grown so large now that its investors need an exit. En=
ter tertiary funds=E2=80=94the latest sign that PE's liquidity issues run d=
eeper than anyone wants to admit.<br><br>
Tertiary funds are essentially "secondaries =
of secondaries" that acquire interests in secondary PE funds. While the str=
ategy remains niche, some players are growing quickly.<br><br>
London-based Netley Capital, which focuses e=
xclusively on tertiary investing, has more than doubled its deployable capi=
tal to $825 million in April, up from $315 million at its launch in Septemb=
er.<br><br>
France-based Bex Capital held a $765 million=
final close for its fifth fund in 2024, hitting its target within four mon=
ths. Fund V is dedicated to fund-of-funds secondaries and makes investments=
ranging from $5 million to $1 billion.<br><br>
In the US, Michigan-based Sturbridge Capital=
, which buys LP interests in FoFs, secondary funds and tail-end funds, clos=
ed its Diversified Private Equity Fund III at $288 million in 2024.<br><br>
"The secondary market has now got so big tha=
t LPs in secondary funds need liquidity sometimes too, and that can be for =
a whole host of reasons," said Robert Perry, partner and co-founder at Netl=
ey Capital. "If you could come across a use case for the secondary market i=
n the old side of things, you can apply that use case completely equally to=
what we do in the tertiary space."<br><br>
I'm Emily Lai, and this is The Weekend Pitch=
. You can reach me at <a href=3D"mailto:emily.lai@pitchbook.com" style=3D"c=
olor: #1D5080;" test=3D"">emily.lai@pitchbook.com</a> or on <a href=3D"http=
s://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzXVoz1VhWR7MSHIF9XWYCMnm2iZ0-2BVwJpr7fiNV6OTycg-3D-3Dl3O=
N_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRrkseJ=
8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB-2B0eIaBZQbC-2FrwsWc0Mkj=
E2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqCCV1kuZPzlF8OY-2BlabN6L5Q=
1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNusXi0OWF-2BQ6xwx0nELgMypd=
RaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFIhziXqnbBXKNwtJXGRz52XSrtdgzTSx0InZL4-=
2B2Ka9ui5RdQLcKoQjAyF9mmGaML0853igHvEsefytomAnAUC1JEPOY-2FWUJpluKGtOy8C5E-2=
BBW4cZk1G8iZvJIccRnReV-2F6PgeRa9PpNujm5wJkUDztE2jigVIzwNXyhWHFn478Sj4VkAoiD=
x0syMUl-2Fb-2FmWxH8K2PIa11yakDGbb2dXFe8E8q61PqLZyNIfy7GmQsV3fpfA-2BiJqiFLa7=
TxAKVEsr85Bqe99m3FhTL13RKRDsaw-3D-3D" style=3D"color: #1D5080;" test=3D"">L=
inkedIn</a>.<br><br>
Given these overlapping use cases, the strat=
egy also faces many of the same concerns long associated with secondaries.<=
br><br>
As with primary PE funds, secondaries and te=
rtiary funds also charge their own management fees and carry, so investors =
in tertiary funds will be investing in the same underlying assets with two =
extra layers of fees.</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: =
100%;">
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<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
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min-width: 100%;">
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<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>A message from PitchBook</span></td>
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>
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<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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<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%;">
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<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_580133" id=3D"n_580133" 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;"> Put your brand in front of pri=
vate market decision makers </span></td>
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<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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<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">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-2BaqM7ONnvsnswouzXVoz1VhWR7MSHIF9XWYCMnFjh3kTN=
bhUuNuRfFtA2y8g-3D-3DDcHq_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
VI43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB=
-2B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqC=
CV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNu=
sXi0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFI37bW91m0TRfPh=
hh7MIHk5KUHSbyjjz3hEpXU9h58egsFG8L5d6o87YgBVV6UgnD-2FmY1WPVAGNBoeHYnmT7-2Ft=
HqOvXF-2BDIN5LMJEI7hCDQdpSPuVjwzxIaznSuXmAC2bL8sSK7VHrvYRTC3m8WB-2BhVp37T-2=
FgrY3Vuo7I5QQqM7Lbhile8joIGsjyY-2BNZk0PVEant7CJ32baeOmn3UnCvewamGHT-2Fi-2FR=
3hWq4zUJjRged9QPSE59FZjyDDH4aDmKm2ZL-2BdJg8zJHB-2BT0EmIAkxCw-3D-3D" style=
=3D"color: #1D5080;" test=3D"">Explore advertising and custom research oppo=
rtunities</a></td>
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ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
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</table></td>
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</tbody>
</table></td>
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<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: 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"> =
=20
<center>
<h2><b>Trivia</b></h2>
</center></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>
<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 in European B2B defied a broader, sluggish PE exit environment in Q=
1, doubling over the last quarter. While deals are getting bigger, the volu=
me is shrinking, with exit count for the sector dropping below 100 for the =
first time in five years. Still, the vertical is on track to double its exi=
t value from the last year. How much PE exit value did European B2B generat=
e in Q1?<br><br>
A) =E2=82=AC43 billion<br>
B) =E2=82=AC29.7 billion<br>
C) =E2=82=AC56.1 billion<br>
D) =E2=82=AC36.5 billion<br><br>
Find your answer at the bottom of The Weeken=
d Pitch!</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">
<center>
<h2><b>ICYMI</b></h2>
</center></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>
<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">A sele=
ction from our most-read articles of the past few days.=20
<ul>
<li><b>Garage doors are PE's latest HVAC-styl=
e rollup obsession.</b> With 26 deals in 2025 and an $800M platform acquisi=
tion priced like a software business, the trades are officially a blue-chip=
play. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00=
1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXVoz1VhWR7MSHIF9XWYCMnmi5GbAF=
p85X3FEetoVqcoQ-3D-3DLoip_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
VI43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB=
-2B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqC=
CV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNu=
sXi0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFI4-2BAdWXbIvK9=
0O-2Bgn263rGWDBxsDADLfWBfZQXXlFYDmt86E75NxZHxBnZLmNFhkuNs-2FWBrSwVdFhv7hjUf=
A2-2BuGL9aVg6HQ322F3zPnntXDKxflNofvGVRJdeW6kt-2Btzjs0HEokrWUBBOBEMKV9y7d4Kf=
2DQbLmDJ0-2FP9RIqmVX4TxZITnZ4hOKriigUJVYd1PqDs-2FXgkV2QV0iYpC4ySSbFc4AtEaZe=
tOHf9HgEz51C827o4yeTXlX2-2FJqTa2mFL8uS0JglZgaLd5478Wo8Zg-3D-3D" style=3D"co=
lor: #1D5080;" test=3D"" universal=3D"true"><b>Learn more</b></a><br>
</li>
<li><b>Employees at the most valuable private=
companies approaching IPOs</b> are increasingly declining to sell into ten=
der offers worth billions of dollars, even as investor demand to buy their =
shares far outstrips what=E2=80=99s available. <a href=3D"https://url6380.n=
ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7=
ONnvsnswouzXVoz1VhWR7MSHIF9XWYCMnC9pQiu0nzjXZJb8aqDZWiA-3D-3Dk5qY_Pr966knua=
Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6=
fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB-2B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2=
xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqCCV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP=
40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNusXi0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLr=
gPPLW3WnHRftU6VOHWOKqv6YGFI6NKSSf2AwW0CM0MWhUbUaQU9mwu4r7F-2BQpw2xJHTDMYzpg=
g6m9TDXIBYG7b4rmC1zkD8a0yu19EljaCh5kpuUIKe6NCpe1h-2B7ezPuUtGPU6CndJ9KzcUA-2=
Fb66RPO6Qf2n21ZB6-2FLeM1UVKPRpsv5-2BUpvE1zJpkQJgKiVe14su3MBDrrQlMzD5KQjQh8V=
UDry8HD6GG6kBUyCrjIZqLcMW3Y6eyBbbF1VUDfwHvhOTwFfnL-2F-2BHtDbNKgGK-2Bbdhw4NO=
xHAePofruuKrlVyQByKuA-3D-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true"><b>See why</b></a><br>
</li>
<li><b>Software company Medallia is likely go=
ing to be taken over</b> by its private credit lenders after months of mark=
downs in private credit funds and suggestions that restructuring was likely=
. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n=
73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXVoz1VhWR7MSHIF9XWYCMnwwA5EV8n0-2B=
MdnCAbf-2BTzsw-3D-3D1lzF_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV=
I43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB-=
2B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqCC=
V1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNus=
Xi0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFI4IFdzXIRaacsiL=
wedrDxYsNoWvrlrwrLu03NrWqOvqfPYfNxXITocN0CKoWErQWvpvja4JV-2BziyEq8KsO8SRe1S=
tpz-2Fefsq8u9vJOIrINgZpAoVA3xv-2FP5AzlYvxyyeLnlw9ALmWO9bM-2Ba-2FjH4IydzCJuB=
DjZrgrdqrC-2B4iV3cwlg7SxBxId7MQtkG17ZxspgHxd5pThONtGYwmCGvuTNwEhdCib5BgwuoF=
C6LrCkmLt6350QA3NiNGgcisuM-2F52I0wc7miAgDWJ5amDEinyKQ-3D-3D" style=3D"color=
: #1D5080;" test=3D"" universal=3D"true"><b>Read more</b></a></li>
</ul></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">
<center>
<h2><b>Quote/Unquote</b></h2>
</center></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-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-2BaqM7ONnvsnswouzXVoz1VhWR7MSHIF9XWYCMnH60UAmXjc=
9QuqpI4PazsbA-3D-3DufGs_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI=
43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB-2=
B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqCCV=
1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNusX=
i0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFIhlcAsjmJ4Hzu5-2=
Fgd8EQqReQURALLlRl8mzggZnvXXpi26LFkAtUYkX1cot3v3m-2F3L0WVTPYq7hwHY0ey0SDNHx=
BQ5Ydgl3i3G6Bl61bNtayp-2Bc5YCiUS80qX8IHwSBLnv7TJ0wg-2BjOrMCFHEpn98ANIk91-2B=
fSdSvBJCK0AUMCDwcIKHDy-2F3mycTQWRCjIodMxQC6ezss9yhkRheYQUa0UsWZiFrlJx2dYUsg=
KQxqNFFdy2Hg6u-2BFf-2FOo3gqUzdYPcyzAXeProLJQA0olx6SSSQ-3D-3D" universal=3D"=
true"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news=
/73932.jpg" style=3D"border: none; 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">(Angela Weiss/Ge=
tty)</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">=E2=80=
=9CIf you=E2=80=99re a smaller issuer, you want to get out before that truc=
k comes through. No one knows how much money is going to be left on the tab=
le. We=E2=80=99re talking about the biggest IPOs in the history of mankind.=
=E2=80=9D<br><br>
=E2=80=94-Steve Brotman, managing partner at=
Alpha Partners, a late-stage investment firm, talking about the potential =
rush of companies going public before SpaceX does. You can read more about =
the IPO landscape in Michael Bodley and Kia Kokalitcheva=E2=80=99s latest r=
eporting <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du=
001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXVoz1VhWR7MSHIF9XWYCMnH60UA=
mXjc9QuqpI4PazsbA-3D-3DZbmY_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B=
iQVI43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01hu=
VB-2B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeF=
qCCV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKq=
NusXi0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFIy10mfwQr7Pf=
AsQ658L8Ve3geA8TqVBSAaaRwKqQPnFSzGhwJBkCWlDe20XdV74eqEKdm5hIs74wIJWr-2F5U5J=
VDODPYo2igMRHwVwal85UV-2BW7muK8ydB0sHZgplpT95WvRoTS4vnJJ9PJhQWCVs5c40WqoeEz=
NqKFxMM9TaChI8BjpbaALaPgNurx5pnN1JIT25vLcq-2Bi9vsb8QcKjo0aBMHqWPywDL5Yk18A-=
2Fd9tipzmq-2BRp1blXro5H1a0YUw93wGPMYIS-2F2A7fqzcBAEVsw-3D-3D" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">here</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>
<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">
<center>
<h2><b>Trivia</b></h2>
</center></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>
<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">Answer=
: D<br><br>
In Q1 European B2B saw =E2=82=AC36.5 billion=
in PE exit value. That makes Q1 2026 the best-performing quarter in five y=
ears. You can read more about what=E2=80=99s behind the rise in exit value =
by reading Emily Lai=E2=80=99s latest <a href=3D"https://url6380.news.pitch=
book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo=
uzX3CMaFBTw9oHjRg1t2p3slyugATxqmEAkPV9fdbRJ00g-3D-3DljtM_Pr966knuaHmaw6c7pK=
vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB0=
9g5Rr1hZCb21Yl43QjPzpEtBa01huVB-2B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfT=
jhf4PWn38LgkiLZ6RBsETDqwQVFeFqCCV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn=
27wuwOq0xXbCRXF7huV-2BanKLLKqNusXi0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnH=
RftU6VOHWOKqv6YGFIIw2sLFxiXtrX4-2FQxBnE0JFojMZCFBQpRrcZaciCWhYp7dcpGowMK62W=
l3zJp-2FxO7V88cCBxSPBwpWAeGqhGqo-2BhV0ckIR-2FJEIgGoCVWbp8aSaMZs6ZrSBNCC85AK=
qBkkw5d2tMWF3yDCvRvvPOnvQ7VOG8o9aieS1MHszu-2F6ar14LsXll7ZX3ZzFOW7IvVgKYTN7Q=
6O054g8xF0Xl80kCknyUEhcDNN2xjGJiBasmSmQ1hVKJZ-2BcHT8vf-2FBEWvUTr4CIE3gIuQ18=
L8T4m0gpKQ-3D-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">he=
re</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>
<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">
<center>
<h2><b>Sign up for our newsletter</b></h2>
</center></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>
<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">This e=
dition of The Weekend Pitch was written by Emily Lai and Jacob Robbins. It =
was edited by Andrew Woodman and Michael Bruning.<br><br><em>Were you forwa=
rded The Weekend Pitch? Sign up at <b><a href=3D"https://url6380.news.pitch=
book.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3=
CMaFBTw9oHjRg1t2p3slmpujQ-2BQuhvp46RmwcFhlXA-3D-3DInoc_Pr966knuaHmaw6c7pKvB=
-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g=
5Rr1hZCb21Yl43QjPzpEtBa01huVB-2B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjh=
f4PWn38LgkiLZ6RBsETDqwQVFeFqCCV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27=
wuwOq0xXbCRXF7huV-2BanKLLKqNusXi0OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRf=
tU6VOHWOKqv6YGFI0Kr-2FsWgf6AuydcybQ25HphPWW8RKeX-2FHHHcB6iSYHytKlV3W9wGg0n2=
VMJ7OeDGC-2FpKgzgkaTVEtjxrLJirq1vBqnXmHaG936QNqsAqDhG-2BRnQNTQ5L5oOB8FIAMwf=
dwmHROn-2BHh6lm1AyPVTn0ci0iuRfOcl-2FVMrYW1tU-2F0DWOAZNsyA-2BCuq2cut-2BtbFi-=
2FtKqBETnentZVxqz-2BtmXAeXnvfSdNgAixD7VE1aSg-2Bv-2FZCysLrsFSNxnZ1WaN8mYmSs8=
HkWOolQGYSy2brKRiAqg-3D-3D" style=3D"color: #1D5080;" test=3D"">pitchbook.c=
om/subscribe</a></b>.</em></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: 33.=
3%; min-width: 33.3%;
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;">
17
</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:=
33.3%;
width: 33.3%; text-alig=
n: 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;">
199
</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: 33.=
3%;
min-width: 33.3%; 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;">
116
</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>
</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]>
<v:roundrect xmlns:v=3D"urn=
:schemas-microsoft-com:vml"
xmlns:w=3D"urn=
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arcsize=3D"50%=
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<w:anchorlock/>
<center style=3D"color:=
#000000;
font-fami=
ly:Roboto, Arial, sans-serif;
font-size=
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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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color: #000000;
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none;
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#F79B3E;
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Request a free trial </a> </td>
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</tbody>
</table></td>
</tr>
</tbody>
</table></td>
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<tr>
<td height=3D"20" style=3D"line-height: 20px;"> </td>
</tr>
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</table></td>=20
<td class=3D"side-bar" width=3D"140" valign=3D"top" align=3D"r=
ight" style=3D"padding-left: 20px;"></td>
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</tr> =20
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<table lang=3D"x-footer" width=3D"100%" cellspacing=3D"0" cellpad=
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<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-2BaqM7ONnvsnswouzX3CMaFBTw9oHjRg1t2p3slJ4raGhGzglq=
dIFTc4z5Okw-3D-3DpFmF_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43=
kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB-2B0=
eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqCCV1k=
uZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNusXi0=
OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFIAQxi14I2t0MWREMgu=
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5AX4bcTI2Pb2lZ-2BHTRex25nxrGaPzrljp-2BXyysdGFaCX9Sn1UftFkJy2aSsQyrMz9TSbAdi=
OI4HyGMh5w-2B8j-2ForBUe5BKAaZ607hG77OeE2Gqsk8Spvn-2BUiVPEGqhbgvPGL5RjrfMGAK=
8PGwYPq8-2Bq8K3oaw07osaE40TWhipVv3JX1Gy4icU205dUNw-3D-3D" target=3D"_blank"=
style=3D"text-decoration: underline; color: #1D5080">About PitchBook</a> |=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3CMaFBTw9oHjRg1t2p3slAACSHmAj6KfrS=
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kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB-2B0=
eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBsETDqwQVFeFqCCV1k=
uZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNusXi0=
OWF-2BQ6xwx0nELgMypdRaNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFICMVppTHWiA9ZtswOl=
AVd1NgGxGuZOFQRAON-2FdQ4qRKYrjch-2FVloR1pJ2Boi3fVDyU-2F7hjWO2aplUu35QJ3iJsr=
Xr2q3dqLO8oa9SJLhVScMxxMieOImG94s8cTDkp7ZTwrnkHVna2VZEfi94oqJBIeKfk56kS8Wq3=
m64i-2BSZ3Y8GHU9x-2Bann-2BbFPOfu-2FXHByouG77zEFzpNdamL-2FC7iiqpjZTekyQpcPdi=
PBG-2BQ97XBMrvtMPCWdQm7VoN7fWo2pVj61uANLRqyOApZomx5uNg-3D-3D" target=3D"_bl=
ank" style=3D"text-decoration: underline; color: #1D5080" universal=3D"true=
">Terms of use</a> | <a href=3D"https://url6380.news.pitchbook.com/ls/click=
?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3CMaFBTw9oHjRg1t2p=
3sljQ-2BHSOFi2QBonTU89GeU9A-3D-3D1nRF_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0=
YQP-2BHR4BiQVI43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjP=
zpEtBa01huVB-2B0eIaBZQbC-2FrwsWc0MkjE2z-2FN9kF2xJYn4ywfTjhf4PWn38LgkiLZ6RBs=
ETDqwQVFeFqCCV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV=
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-2B5tLbvbLdfITs36EUpmkIp-2FBUYdh6QLb64ZqFZ8KpZpcYd04Dzaty2TjyywfzvxWrl2-2FX=
bDBTwEclMnj6dgWL-2FJFWv6aJ9MsWAqim4ibHD5CIF54OwGUBRc9nVqK7LaTyZwrnWA9qaHQzg=
kpHXYEjLy2NElgEmsBIWXf8queto2WdlQ2NpB-2FQy6SqzqI758HZBNdffNRwgoCdYa7xEZ4Czb=
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arget=3D"_blank" style=3D"text-decoration: underline; color: #1D5080">Adver=
tise with us</a> | <a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli=
ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3CMaFBTw9oHjRg1t=
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BsETDqwQVFeFqCCV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7h=
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II9wUEryT1DhWoeCvGFHGuL7qo-2Fe2GxD8zl8qUmKFJTIenY4k5Giwj9fFRIzbw32Yj7Z-2FFq=
Msab3QP2WRhlIuTypAKPOPAMdksmTV1LT9jbBB-2BVLamjEnGw9OU4JZltrStdpWW3hGcw-2Fg-=
2BUZBtxnAnb7eC-2FXmDpbN5v-2FVSCf-2B1fFGL-2FTVvEvAN1wove270YXsnHFv970RXRWLxT=
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3D-3D" target=3D"_blank" style=3D"text-decoration: underline; color: #1D508=
0" universal=3D"true">Contact</a>
<table width=3D"100%" cellspacing=3D"0" cellpadding=3D"0"=
border=3D"0" align=3D"center">
<tbody>
<tr>
<td style=3D"padding: 15px 0 0;" align=3D"center">
<table cellspacing=3D"0" cellpadding=3D"0" border=3D"=
0">
<tbody>
<tr>
<td style=3D"padding-right: 10px; font-size: 10px;=
">Follow us:</td>
<td style=3D"padding-right: 10px"><a href=3D"https=
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a-2BaqM7ONnvsnswouzX3CMaFBTw9oHjRg1t2p3slPQFKnsDtp6y-2FrvpPOVzIqg-3D-3D9G_v=
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j6TWsHBHqP40KDqgkZn27wuwOq0xXbCRXF7huV-2BanKLLKqNusXi0OWF-2BQ6xwx0nELgMypdR=
aNSB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFIRS7b242ZXUZW9jUsWQXvHXXgtSiK3bNPGBh9rW=
9NkaJ76NRzo-2B2NnB5O5wRN5jA2BZG3AqVi-2B1vW49tQq4YoNYopKTKCbrjKH3xWsn8k0RoGR=
JJBg8eKjRQbHpkluSAtSUlfZmPMiQ-2FY-2FKXyo0iFCwFjo5gOyheX8RxuzsM5Ke8CdJZXZq17=
xTl4U0bVi6zdRXGc1JcBxw-2FpN4G4btqDAB8yagxEh-2F0xbn757o3FbcU7vn-2F17YWNJJY-2=
FOW7ATy7pOeTj6dSVG-2FOJFeVsmHeDJQ-3D-3D" target=3D"_blank" style=3D"text-de=
coration: none"> <img src=3D"https://fonts.pitchbook.com/newsletter/linkedi=
n.png" width=3D"25" height=3D"25" alt=3D"in" style=3D"border: none; padding=
: 0 0 1px; vertical-align: middle;"> </a></td>
<td style=3D"padding-right: 10px"><a href=3D"https=
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a-2BaqM7ONnvsnswouzX3CMaFBTw9oHjRg1t2p3slnVTlPRJrVE7oFVv1EkXWDw-3D-3DIceE_P=
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TkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Yl43QjPzpEtBa01huVB-2B0eIaBZQbC-2FrwsWc0MkjE2z=
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SB7N1rLrgPPLW3WnHRftU6VOHWOKqv6YGFIAAkSdPzgRRmUKOcpE8qlRWEXtDpXp29K406ygnTp=
fbKnm62J0QrvhqkZsKgf3O5iXVEVs8Fk6Z3ny6sEGmbryffEcw7P2tKZkEsvp1Flyys9TNrF7OX=
yiMVYm-2FbX8H4ma7oCR-2FOPYlqrPqoAxfgh26OtFtjlR6TksUTGx0jgq55y5S0Xj5TB69x-2B=
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vertical-align: middle;"> </a></td>
<td><a href=3D"https://url6380.news.pitchbook.com/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3CMaFBTw9o=
HjRg1t2p3slXhb1nRCLYNjSRCO553bkQg-3D-3D_SJp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5U=
wlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRrkseJ8UbTkEAx0z6fzJ7i5ZB09g5Rr1hZCb21Y=
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LZ6RBsETDqwQVFeFqCCV1kuZPzlF8OY-2BlabN6L5Q1j6TWsHBHqP40KDqgkZn27wuwOq0xXbCR=
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yfaZs51bwfwolDTAMGP71IHf-2BBgzAyAuXcrONFgOpKcmbnBXypPQQI03Zdq55DdtxgiotTixm=
AOQ7-2F4PPIp2D95M7qN2IftYoSmkEdCnzsmUr6bb6zmGEEaEGHq9U5dNVpyNNVi25TOOpcqkdk=
A-3D-3D" target=3D"_blank" style=3D"text-decoration: none"> <img src=3D"htt=
ps://fonts.pitchbook.com/newsletter/facebook.png" width=3D"25" height=3D"25=
" alt=3D"fb" style=3D"border: none; padding: 0 0 1px; vertical-align: middl=
e;"> </a></td>
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</table>
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