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Content preview: PitchBook Newsletters Defense tech VC's graduation; TD Bank
seeks credit partnerships; DigitalBridge's high-voltage acquisition May 28,
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0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>Def=
ense tech VC investment reaches its highest quarter ever.</b> The $19.8 bil=
lion invested last quarter marks a turning point as the Iran war sharpens i=
nvestor focus on the sector. Read more in <b><a href=3D"https://url6380.new=
s.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON=
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Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8S=
MnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSV=
tNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9i=
p5YDcvrhFXrv4-2FJE0t2Wu3hTtLJ0TMbxTKI2EeT-2BfIMCQKzYxqVQhV0FSRPFT0UBODmyYQc=
b9E8CC8WwLhUZ-2Be5jKEfYSNrFoGPx-2FmivR5cRbxpvnJjVB6FMprqnFFjAbGbe27Z806d8us=
nwR5Gs5PGZDriHWdHodXkTYtyKp4gvwjWrvg1JvegDgIcYPc1cYOslH0bu-2Bte-2F4ROa-2Fyv=
aD72ur-2F8zo7ArksIb6oz35LcmJ03FRdFEJ9F82HSyKIBPRmryK-2F6jqGU0WnqmXWCBLvTh9h=
T3gY0fUEL-2F1i4fc" style=3D"color: #1D5080;" test=3D"" universal=3D"true">o=
ur Q1 2026 Defense Tech VC Trends report</a></b>.<br><br>
=E2=80=A2 <b><a href=3D"https://url6380.news=
.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns=
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maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2=
Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbq=
ubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2=
F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDc=
vrhFXrv4-2FJE0t2WBuZLvmdoJy-2FImpk9SjIxgdtiG-2FAu5jjTVQGBnpzA-2FiOSb0CitkFr=
84B63aWcGjEzYwwqbkQpFuirgIb8hUNUFV0e4-2BcgfLcsG-2Bqh7TB8kwDCSDKIdZjG6bvBrap=
yZX2pwMYgDLAar0tbvY-2FXnw6O3lmnXvj-2FH2XivjzKfhgXGBiIVGpXYv9mwhIDQNg41aXmrm=
-2F0-2FNbTEYqHeqsK-2FEfpi7p6QKwKR6CQPZSJWNp-2FJ10O4nTAnefl6DjlYpnztSqyBUo1P=
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ool</a></b> to get weekly commentary on what's driving LP decision-making.<=
/td>
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</table></td>
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</tbody>
</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>
</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>
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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%;">
<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_581271" id=3D"n_581271" 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;"> Public PE giants are saying go=
odbye to software, hello to AI </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">
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<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-2BaqM7ONnvsnswouzUujOTxgn-2B-2FsDMqNaStuAd6fv19c=
H8etmbaYPzQSQmE-2BQ-3D-3DZ8ok_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR=
4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp=
0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2Zm=
PY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjt=
cEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2Vg1z3TVXLCr4t1ewUyi=
VQoXoVyxiaWWme5-2BcIiUi7oDGnlvOGEfaP8kN-2F45Cic5FojDxQZACAiBw-2BTPLYjNsYRpk=
T9qsuI9XBrq42MmQOApDz7KYKxff-2B3pTNFKO-2Fsc1LwdfGDDJyvOPcJZQwh3yZowuHR94HzI=
g-2BZsXliv6vLATAC1JnIE1XDlre1fgz709WAPidlbZ82q8mMVgS8RtSU4ZttL6zsGrxTAiJbl0=
9dU-2FLJ2Y-2Bf9q70LiXHj2NiBfBITI-2F2DPipruvq6UWccOCz" universal=3D"true"> <=
img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/74527.p=
ng" style=3D"border: none; width: 100%; height: auto;"> </a></td>
</tr>
<tr>
<td style=3D"height: 20px; line-height: 20px"=
> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By =
Madeline Shi, Senior Private Equity Reporter</i><br><br>
In Q1 earnings calls, publicly traded PE fir=
ms pushed back on headlines about the software selloff and defended their e=
xisting holdings.<br><br><b>Management teams published AI risk frameworks, =
commissioned third-party assessments on the AI vulnerability of their tech =
portfolios</b> and provided supplementary disclosure slides, all in the nam=
e of drawing a "hard line between headline panic and portfolio reality," ac=
cording to our latest <a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUujOTxgn-2B-2F=
sDMqNaStuAd61ISHdhSTTKlRYuaRvABe2Q-3D-3DOQbY_Pr966knuaHmaw6c7pKvB-2BCEiDnj5=
UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ=
4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRa=
L4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifK=
qZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2UeMx=
jJ8-2BlVx3P9VqFlpHYvXa-2ByUtrVMy7aAjA3bPxWSL-2FCom8ybr1vhS0ugoir64Z9SBn0YcG=
QBDgE1iMJonC-2FH5rPYyCdoxaEmnzLxY6X5MfMBXMU5cdpVuvkgIBd6nodh6t7OgmluOWHy6WU=
lUALqIf3JlM69uE7HaJlVyf5h7aH9K7vrcC2dCykrAvmaE9JWn-2ByEPjA1pYbgeGa4pL1MuAOc=
k7qQLS6OVWGY-2B5uRy0hJGCj8ZV8vhxwPgv1CkvYjPCaFaDAxOCL094bRQzT" style=3D"col=
or: #1D5080;" test=3D"" universal=3D"true"><b>US Public PE and GP Deal Roun=
dup</b></a>.<br><br>
But where they directed their capital in the=
first three months of the year revealed a more nuanced stance.<br><br><b>T=
he largest listed PE players have been quietly writing down or exiting thei=
r investments in the software sector</b> and pivoting toward the physical i=
nfrastructure that underpins AI, energy and other asset-heavy sectors.<br><=
br>
The moves point to a consistent shift across=
the industry's largest firms. They are building their next cycle around th=
e physical layer beneath AI, or defending themselves with investments insul=
ated from its disruption.</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
<tbody>
<tr>
<td valign=3D"top">
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cing=3D"0" lang=3D"x-content-btn">
<tbody>
<tr>
<td align=3D"center" style=3D"height: 36px; b=
order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http=
s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI=
rf6GFa-2BaqM7ONnvsnswouzUujOTxgn-2B-2FsDMqNaStuAd6fv19cH8etmbaYPzQSQmE-2BQ-=
3D-3D1KDI_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68=
NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2=
Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70y=
fwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2E=
bt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2XMRDuDUK7dXg8G8Xkipz9ecqsgtRJ4diaepo5Uv=
mPnlkQwjI7xdLGigE7THaIQrwAvjE-2BHYXcul2E3WkMfuzccUinbxWFw4HofOB0Vrb8l1bqZWR=
z9tcMl5nxWaCCcaxVRF3JAEuG4-2FGvc7w0Hv48J-2Bph5BrLxRlpueEx2HQe0glgcBwhhIkUlk=
kEKIj8P8IBAvNmTu35gHoYaNuHFbFFHtrvT0XeZroasGdKUZZCCu6MM4uKLe57C5em2rJMDKEO9=
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align: middle; 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>
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</table></td>
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<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<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-2BaqM7ONnvsnswouzUujOTxgn-2B-2F=
sDMqNaStuAd6OeoVVsW-2FQqEvufMse-2FjzsA-3D-3DXj4q_Pr966knuaHmaw6c7pKvB-2BCEi=
Dnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwx=
EJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zk=
IKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD=
4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2=
WUUd6IYJEdlHtzaZnnZ7l8Q052ypVYKgfqGANdnnLCheJgrqCuo-2FhU753SxRJXQ8G1FsFRFAo=
XcfyrtUNpIkdEaLXM8UWZcjVUQiQsaOBcyry6HkRsWQho9l1EKX2kv8l1LZQ6tGVrTeLeMU0eup=
zT8GwAPkkBPDp4CbEUQtsyQm3VAWJFiUTIZtwRSs5lxWIF3g7PwOVSzrkVELx4Lv8gY5Z312xaU=
Uf9Nbz2gyssaj8W4eMo-2FLijF12efmLhT6SBZTLnlNahPUdP8BIR9SLm" style=3D"color: =
#1D5080;" test=3D"" universal=3D"true">Q1 2026 US PE Breakdown</a></b></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Catch Up Quick</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80=
=A2 <b>In an effort to control both data centers and their power</b>, Digit=
alBridge agreed yesterday to buy ArcLight, a PE firm focused on energy inve=
stments. Our recent research shows highly specialized managers are winning =
big, accounting for 74% of all fundraising in 2025. <b><a href=3D"https://u=
rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzUujOTxgn-2B-2FsDMqNaStuAd6w-2BawKpp7wwSjmjEkad9bag-3D-3D=
Pv8P_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNB=
y1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2=
FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnh=
qYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UM=
wIV04OfV9ip5YDcvrhFXrv4-2FJE0t2WSKrgrnIMfnowbySX0VwgFcAPycdHfXb9iReJaddmlBF=
K6qLtk59eCwjCP0X2J1i-2FZG3mSFm55ovy6N61yGWhSNqna1ne3BQb4mAbSsZ11AWjONhBAogu=
zXhnJftaaC3WGuOGBEoT8IITv2QgxdLerbMPeGDS1WiG8879eldV9qqLel0n2UgMwkeg0lHnjTd=
ZI0rDjb58LNZGlzd6kftP-2BceuOjlPBCkkueFDLDz21xEzXY9htOQ-2B9dx4Jkoy4hHdOUV-2F=
NbAYnyS-2FBIN6o87F6" style=3D"color: #1D5080;" test=3D"" universal=3D"true"=
>Revisit it here</a></b><br><br>
=E2=80=A2 <b>Valuation uncertainty drove mor=
e growth-stage companies</b> to seek private credit financing in Q1, accord=
ing to Hercules Capital. <a href=3D"https://url6380.news.pitchbook.com/uni/=
ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqfRhA7aoxa=
Wmw49nOEhguddwObq3sXZINdpZZ3usDFA-3D-3Dm8lF_Pr966knuaHmaw6c7pKvB-2BCEiDnj5U=
wlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4=
cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL=
4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKq=
ZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2VwD2a=
voeMb1yDgfnecKYcjrnenXxmK1irGAUAzjNK-2BvwXdxwTc4TSlmjSpLaUUJb5hKMPRcVjjKfur=
2kYCh5ThbzDdV-2F8GXER77cLca66id1HdAxUnUSqHNOQw-2BYf4lOD-2FNFf7P95XpvmJpDMk-=
2BPWpch9Hv0UldVoXyegK5k-2BdTS-2F-2BSEJCMB0HA363-2ByMc-2F4R77i8wCB4bM9-2B3wu=
iBNm-2FJcw1L9jXwrwfec6X3E4FiPxQQiBb0-2BR8lkF-2FmkbSq8tgagptshmSYLC4jSo8SMoa=
n" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Find out more<=
/b></a><br><br>
=E2=80=A2 <b>PE funding for the European aer=
ospace and defense industry</b> hit a record =E2=82=AC5.9 billion ($6.9 bil=
lion) in Q1, as surging defense budgets drive a procurement wave. <a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqfRhA7aoxaWmw49nOEhguE-2BiU8z8sRKBRuvU5c3L=
2iQ-3D-3DubRV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8U=
YA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJ=
z8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVI=
P70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5oz=
xG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2UoOph-2Bd2WZf64OkiHy2jOFSAk8-2BQAXE=
E6clObP4H5shktx-2BEK2Cv-2F1iVaQRNMgLjGci17mCiagW5pFiSiJVVsAO0lfwZ0uFP4yHuLQ=
BgBMmmINav30syJ8WBRDiANavZf73wnP1TJxubWEwXR9Prpa2g3sDJtxnLCSozDBqws7tELKwlj=
80qpPKvm-2BexLwk8jpeE2xzXy0cz3XEQAA-2Fz-2FudqY46TjJwNeZO9xoNpmkjOuZP7OGVtH5=
DhETKNk727Z8uAEKK1wTqT5TJhII2ukL" style=3D"color: #1D5080;" test=3D"" unive=
rsal=3D"true"><b>Meet the top investors</b></a></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_581265" id=3D"n_581265" 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;"> TD Bank explores tie-up with p=
rivate credit firms </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-2BaqM7ONnvsnswouzVqfRhA7aoxaWmw49nOEhguyGJ8QJcgC=
QYrgb0HOaF-2FKQ-3D-3D9c-V_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
VI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIe=
MUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2=
Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzE=
LZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2UFYLIO44XGQWAN8NRkeXon8=
GzHpsF9tczZ7aDZzmEoILy4CKy2PB10LatEIbwgVihi80rmE1eWD9PMSyRRkAUD5lBgPynplArv=
3FV6pP7ru2CkZjf8-2FIDEPBZ5FmsCs9O-2BLjpE6NPNu2cB0KVAJP3-2BOGx-2BePGr7-2FPt9=
Rn5pGfKpZyY7kW7EG-2BGHMgiRzzM-2BW2mWJWRgXkU-2BY51hUKWouT2OJk7z9HRMZW28MDSQY=
Np2MMamKdi7pSfY9C1-2BkkwM7nQvTsAIWAnY73o2Vsrarhq" universal=3D"true"> <img =
align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/74526.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">(Andrew Francis =
Wallace/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 =
Madeline Shi, Senior Private Equity Reporter</i><br><br>
In recent years, banks and private credit fu=
nds have been forging closer ties, angling for a larger share of the corpor=
ate and sponsor-backed lending market.<br><br>
Now TD Bank=E2=80=94the 10th-largest commerc=
ial bank in the US by assets=E2=80=94is looking to join them.<br><br><b>TD =
is actively seeking to forge partnerships similar to those adopted by its p=
eers, which aim to marry its corporate client network and origination pipel=
ine with the financing capabilities of a direct lender,</b> PitchBook learn=
ed. No firm plans have been agreed upon.<br><br>
Once competitors, banks and direct lenders a=
re now increasingly pooling their relationships, capital and credit experti=
se. <b>Partnerships between the two sets of lenders have proliferated,</b> =
taking a variety of forms and drawing in lenders of different sizes.<br><br=
>
Banks are less incentivized to hold certain =
types of debt on their balance sheets due to higher capital requirements, l=
eaving a gap for private credit to fill with more flexible capital.<br><br>
The tie-ups allow <b>banks to reap fees</b> =
from sourcing and structuring deals while retaining relationships with clie=
nts. For private credit firms, these ventures offer access to a <b>broader =
base of borrowers.</b><br><br>
Commercial banking giant JPMorgan has forged=
several partnerships with private credit firms=E2=80=94including Cliffwate=
r, Future Standard and Shenkman Capital Management=E2=80=94under which the =
bank originates loans and co-invests alongside the lenders.<br><br>
Other high-profile collaborations include Ci=
tigroup=E2=80=99s $25 billion direct lending partnership with Apollo Global=
Management and Wells Fargo=E2=80=99s $5 billion arrangement with Centerbri=
dge Partners.<br><br>
In the middle tier of the market, PNC and th=
e TCW Group in May 2024 announced a partnership to make loans to middle-mar=
ket companies, providing them with senior secured cash flow and asset-based=
loans.<br><br>
Webster Bank and Marathon Asset Management, =
two months later, unveiled a comparable tie-up targeting sponsor-backed mid=
-market companies.</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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<tr>
<td valign=3D"top">
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-btn">
<tbody>
<tr>
<td align=3D"center" style=3D"height: 36px; b=
order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http=
s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI=
rf6GFa-2BaqM7ONnvsnswouzVqfRhA7aoxaWmw49nOEhguyGJ8QJcgCQYrgb0HOaF-2FKQ-3D-3=
D8lU1_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRN=
By1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-=
2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgn=
hqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1U=
MwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2V78-2BQ5HZ92vV4skdMia3WYH1dlx5ZJpEYSfF4LuOj=
maigs4MeQplWmcMqfyGSR4w4IdWU2fjVp9-2BhESadfRQ1q658lZVEvNlgugR3CsKamlAr5-2F5=
STYJ1UqsgoA7tGnvErrjXeSbjGBn-2B2DJRxdq1dhPQ66utdrJAFPsuF2RXOwH-2FmcnfbDbGMm=
ojDI-2BUmXohf0JgHlesr9Zm6lSiLjZaTnAbYxG7oUa2rLBpNg5E5WShXguH3hloMWY7y6Dy2B0=
DIyEw-2FwOh6Oku0ojtmT-2F-2B6" style=3D"font-family: Roboto, Arial, sans-ser=
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"> </td>
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</table></td>
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<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
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<table 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
">
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<table class=3D"" cellpadding=3D"0" cellspaci=
ng=3D"0" style=3D"width: 100%; min-width: 100%;
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border-bottom: 1px=
solid #C3C3C3;
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">
<tbody>
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0;"></td>
</tr>
</tbody>
</table></td>
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</table></td>
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<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<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-2BaqM7ONnvsnswouzVqfRhA7aoxaWmw=
49nOEhguJf33CaAkx4wmgvjHBasSQw-3D-3DfKzx_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJ=
YL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij=
-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RH=
deYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZEx=
cwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2U6991kCO=
Pb4eyNn9Rg4JMzNkWRYSeI2A52eRQEVAyoSpeh942nZoaLdozG-2BH6ZRaGW4BcTUQbDVzbQ-2F=
-2FUixQq6r97pj-2BEViGUmxBDlwCpl3Lklr1uEhc3CJfYX-2FZOmPEWfhfZzOMJHAU980W6In0=
r4d4MEGBDqzjpMp2uD3BRM04oO9fkSdcjua-2BcAAqUYXd2yN4LpJ2TglNrZS6wV8Hsz9y527BY=
EBpq9loucgc9Vr6j4ixc4em6u0f5grh-2B9Y6Jiv4UkwHy8TjvXcj1g7IsL" style=3D"color=
: #1D5080;" test=3D"" universal=3D"true">Private credit institutional deman=
d accelerating despite BDC news, says BlackRock</a></b></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
min-width: 100%;">
<tbody>
<tr>
<td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>Side Letters</span></td>
<td style=3D"min-width: 20px; width: 20px;"> </td=
>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 0 20px 0 20px; ">
<table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
">
<tbody>
<tr>
<td>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Sma=
rt reads that caught our eye.</i><br><br>
=E2=80=A2 <b>This nonprofit struggled to get=
human volunteers, so it uses robots instead.</b> Meet the robots helping p=
ut together medically-tailored meals in San Francisco's Tenderloin district=
. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqfRhA7aoxaWmw49nOEhguhYmhRG9RrFE5lXF=
U28yYkQ-3D-3D2jCK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc=
Vf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQo=
RYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOq=
XLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRq=
B5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2UL1ZWtGaV3SuY7YKrmh6RSOYy4cQDwv=
e6mU-2BSlgm-2BUPoDq9M6FTi0lukfJjMA9KfBvSihsfNYUG7vm2p3vZAS-2Frx0PdMBDuJNUyt=
CHUy1fJvevJi-2B-2Bcea-2BtmfzulvgUzCSiUDkJmi3SFajSshAb0WPS52USuw-2Bxd1iU1AMP=
eXNycDpleWzc09mWO3lr8cu8tG-2B9lE7S2fqJrRwQs4k3ny60uSqijgw6Q4Y5lHx8KZw-2BQBj=
JQFs6xLwi3lt-2F4b8TJubA4xkGIOe0CtNmWL-2FctaI" style=3D"color: #1D5080;" tes=
t=3D"">Wired</a>]<br><br>
=E2=80=A2 <b> Self-driving cars are giving v=
isually impaired people a first-time experience:</b> being on the road alon=
e. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73=
BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqfRhA7aoxaWmw49nOEhgu-2FDvXTK45llal=
P8meT-2BnGIg-3D-3Dg2Z__Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI4=
3kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUG=
JanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri=
86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZE=
HvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2Xx5O5gf275ZNm81cunSV-2FB9s=
-2BVK6li6iG9uLNI3bkc-2BDKxmMLOr7jMYS66eFB45stEO9YLj-2FqF7zncZCeGywWIeOV1rB8=
O8-2BdZy8Ps9v3ZcDuwYtIeDYroXLEwifErbQCTSxeLyUCUIqxgOgo2GkE5D5YPaqPw4qLEbC5f=
muYRFenWJF9htsa1Zeld96lgjrEf-2BpGzzIeBwa5692AaieIUdgi1fYsvKSjhkK-2Fb5tetZ7t=
bBoSt3-2BW2k8MJAyE69r-2BXcf0lpiTH5nuQiAQZpEHx" style=3D"color: #1D5080;" te=
st=3D"">New York Times</a>]<br><br>
=E2=80=A2 <b>How rising energy costs are lea=
ding to exposed legs in the workplace.</b> For the first time, Tokyo govern=
ment workers are allowed, and even encouraged, to wear shorts to the office=
. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqfRhA7aoxaWmw49nOEhgu5Ica08QJItLMSen=
wRLVDRg-3D-3DAOcK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc=
Vf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQo=
RYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOq=
XLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRq=
B5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2WCyKbSyU-2BKpAWXZjq4T1gVGq1ov6D=
7qg0ah3YLAhMbhbVOInBM-2F059AwVUvtGSlSpT-2FuXWdp41NvmEp7nRroXiG64WINnFk3TcrT=
sVGGNa3-2BMyEHhM3M6aSAwFB17vQCb9nJ5uIiUDUZiyz8myCdkjnoIQK7ykBv1rN4ZvLoCv64n=
OmJlO0r6sOnHTORPpQYsB65nIiO7PtjQywo7Meu3SPt4KlWU98jKcXwCzaZqz4zdnhiE3B-2BbW=
x5rzgUeYpy4E1bx5-2BIpeReCE4ZPVFO7l" style=3D"color: #1D5080;" test=3D"">Blo=
omberg</a>]</td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table 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-2BaqM7ONnvsnswouzVqfRhA7aoxaWmw49nOEhguYF9-2Beho-2BKtKOFJNmS82Cgg-3D-3=
Dg4hA_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRN=
By1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-=
2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgn=
hqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1U=
MwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2XkDxJYcNhivmW7iUUxw81866UhOZWVNQuWWPFaGAc-2=
BqoSfghOMM2qxNTdZWrhXwq1-2FmDVdNzsR9Kok7gsFzc2JVgu1qquPuIMkmZdDX1k3p9P0Q6Qa=
EvH5-2BiI8lP-2FnLeDCiOKxaykwdA-2FwQuY5m60fl8CBMwkS6cMcEEirbaLF3Or-2FlEtg6jC=
rtQP-2B-2BQd31YG6UZ8m-2F6CVUbcY2rJ2IzN7vluNIdRsNHpPv19ytvjzzygYjolNYPgtZtRC=
tj8ZiPsDBJoVFc-2FyxCR9mrr6Ttpq"><img width=3D"460" src=3D"https://img.pitch=
book.com/ads/ad4559/Whitehorsebanner.jpg" 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>
<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;">
686
</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;">
2471
</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;">
1216
</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;">
40
</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]>
<v:roundrect xmlns:v=3D"urn=
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xmlns:w=3D"urn=
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l"
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t:43px;v-text-anchor:middle;width:148px;"
arcsize=3D"50%=
"
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<w:anchorlock/>
<center style=3D"color:=
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ly:Roboto, Arial, sans-serif;
font-size=
:12px;">
Request a free tria=
l
</center>
</v:roundrect>
<![endif]--> <a href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
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to, Arial, sans-serif;
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9px;
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#F79B3E;
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Request a free trial </a> </td>
</tr>
<tr>
<td style=3D"height: 25px; line-height: 25px;"=
></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
<tr>
<td height=3D"20" style=3D"line-height: 20px;"> </td>
</tr>
<tr>
<td style=3D"padding: 0;">
<table lang=3D"x-news-group" cellpadding=3D"0" cellspacin=
g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi=
dth: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 0 0 0; font-family: Roboto,=
Arial, sans-serif; color: #78766F;">
<table lang=3D"x-news-group-content" cellpadding=3D"0=
" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
<tbody>
<tr>
<td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_581261" id=3D"n_581261" 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: 2017 Vint=
age North American 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: 73.00884955752211%; mi=
n-width: 73.00884955752211%; max-width: 73.00884955752211%; 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">16.50%</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 Hurdle Rate</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">22.60%</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;">
0.87x
</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=
swouzVqfRhA7aoxaWmw49nOEhgu85ww5LwB1q5gGW9Pao6ZlA-3D-3D3-Lm_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2B=
HH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZf=
azLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoN=
sCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFX=
rv4-2FJE0t2V8ZX9fy30-2BOo-2Fr3IALl-2FC5ndLyHRg0E66UyKeWzb-2B537hGm2LGFCqx4b=
ahkZny4p116tJwoCiMrCrmiZS9N4lI1k6CtSjn-2Bn-2FO4gR3rZC1yx4DiuuVfXNti5SeMyYT1=
uF9TrrkI0AZsgI0CRUniEFSDX32LIhON4PZLWF7DibMMArkc53CpTTdJeD9ibQjWD-2BBT7Bcjy=
c9I3yq3Mutc8YGFePahy3-2BrAwtvq-2Fin9TPENXn4KR-2FLY3s4fF21IDPx1CAjL2Ll-2Bsq9=
RJhW7LxBClP" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" =
universal=3D"true">Spectrum Discretionary Overage Program </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=
swouzWliUHGCMIrz96BpjxtMNCveHNxzX6kGXi6c9-2FiR6nSyQ-3D-3DmF6s_Pr966knuaHmaw=
6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-=
2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbquba=
ZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6E=
oNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrh=
FXrv4-2FJE0t2XDGUoukAygreaHqZWmPqqiLS5l-2BSbkVh80H8dn7hlTNLFyqX5GQPNv2VvFQD=
WwfP40KnUD6V5Rqwm7aJ9JcHxS2Oy-2F7jfBHB7FGR1UV8Uu-2FMB1OrIoAeEuNF2pHxLH3NyFF=
TXy-2F2HBAg8ZyiKUT2taO8ftVLORZUq1Oqvz2c2dYTdIIuzJz2rVyilEhV-2F039fvOH9M9yTz=
Ew8gq-2F2NUbSmcA2pavwg73qMXpNCsa-2ByIzyPGdrVvq70Kz-2FiK0XhfybjYunBJqSPnJtAY=
MIruy-2Fz" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" un=
iversal=3D"true">Graycliff Private Equity Partners 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=
swouzWliUHGCMIrz96BpjxtMNCv8H4p0Yy-2F6Keb0Oqpa95Jhg-3D-3D2iU-_Pr966knuaHmaw=
6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-=
2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbquba=
ZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6E=
oNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrh=
FXrv4-2FJE0t2V0UxXeiUVBl7XIFr8I3QhdE1l6FN7Q-2BgQnseJQ4ynCIBv2DHVSUvXnnDqTfy=
239lRk6DRjdg30yrhzcW6rspqQl8ER-2FL3BepdqONexKptlAcPBOrsjQSJJXdyvWwsknwBGeqC=
GlRWrCA857VFX7QXzn7Xih4uCDVlx2PPGBMbvk-2B5X-2FT6-2FgR0jD0QLxcKafeS7pPpQUdR8=
HaBLaMwhiiN9aZ52yGGf-2BMLKbpQEz7HLJoVRJJhECKvvB-2B2rkWmNEJf7fyQLai23SGlClRZ=
wn7L2" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" univer=
sal=3D"true">LongueVue Capital Partners III </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-2BaqM7ONnvsnswouzWliUHGCMIrz96BpjxtMNCvs5pmOZ=
-2F9CUpGhSgWLO5sww-3D-3DRiIp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4=
BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0=
OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmP=
Y-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtc=
EzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2WDkZxAZ5PyE8F4KqGtUL=
IThH0zspsYKVyhrMo6PcQiA-2BmzE5NpjbCKTIiqgxkRUR6wvq4aZRcliL3LVIQ-2Bnh584dLea=
i-2BesswJn0WevKHPZ6efReO3ozBXj4RRNMR55WFu5buYgGTtsr03m3eCY0uFvP9VdtuWGc7J-2=
FE-2BJBkCdd8RIvZ6G-2BarHvZfJHrZz58bbEtFz-2FNj4mWhMfzat1SM00QJvCZIiCNYDfIyue=
hgQETmqSc2inbG8tNQH5q3o-2Bgp-2B8h5lesQ6kfpYyh7hIK1Z" style=3D"font-family: =
Roboto, Arial, sans-serif; color: #1D5080; font-size: 14px; font-weight: 70=
0; line-height: 24px;" universal=3D"true">95 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-2BaqM7ONnvsnswouzWliUHGC=
MIrz96BpjxtMNCvazVzREmN-2BenvWL7WKeLBhA-3D-3DoFXA_Pr966knuaHmaw6c7pKvB-2BCE=
iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepw=
xEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3z=
kIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3O=
D4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t=
2UleQ4Q6ArDbIuGvGx1xP4G-2BJSqvp4evwZKzOcEokuzILlwR9Bt0BO4B-2BvgA-2FqGZLA4qW=
bzUC4nKaZhiVwu5zXgFrdQCshHUTap4SKaMrXcPsvWkIBPbTx47-2BZ2kmKuCH0Z95sFyYcaiXT=
Qyrq0KYQUFQgHqrPBaWuSODPbfR1l0ZjNcz88H2-2BwGl076e0Cu4ia8F0I5QmakEsxmNBtyATi=
kJcv3kX1n99Zsu1dpn5lv3UnT6vZxvCPzMU18aKcxIozJLM6q0rvhDxOMoI-2B-2FSqq" style=
=3D"color: #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-2BaqM7ONnvsnswouzWliUHGCMIrz96BpjxtMNCvbK0Nc9nd7cpxrRlfNyHYgw-3D-3DVKa=
H_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1P=
fHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf=
-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYr=
yafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV=
04OfV9ip5YDcvrhFXrv4-2FJE0t2Uycs7IcWIauziVkpfKWG1kuIgH-2FqqNkaqdxWaS4vPDyo4=
WrXT56qy-2Bz1x-2Fk2C-2FNcutdeQMC-2BLV1RvrTHFS-2FsTRSlbrT8HqN-2FpO7O2Qm5ocMC=
oR1m1iYUVAJUliFcq7Hfp1AXX0Zleq7A3DxnqqZovM1pp8rSc35-2FHTurMOKzlr50XL1KDJpP0=
qT2IWeXaIj-2FXy4UUASUcMUXbPWNknCepqor0ThRfnL03d7GnoEHtyD5yur6LRd3XvIVFViWwl=
xx-2FD1bDMw9rZeZre27YtltbU"><img width=3D"460" src=3D"https://img.pitchbook=
.com/ads/ad4561/Churchillmarchhba.png" alt=3D"Ads" style=3D"padding: 0px; m=
argin: 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>Ard=
ian</b> appointed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c=
lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWliUHGCMIrz96Bp=
jxtMNCvvkXfcwtkMDVEFvrhZKoemw-3D-3Dd-lN_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJY=
L0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-=
2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHd=
eYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExc=
wvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2VfDZ1ulC3=
b2tTI5WVBhRkUJT0KSQNrmUQf92pA-2BpQ1k966SHW-2BGK-2FmuV8bYRR1tahUN7f-2Bh3ud0u=
YTKYt6fzoUeuuNlxfnralecbmdqnLdLD9wo3eo8Ew47WW0b3t3NQ0eK70hxoQrafFZDAPYPhyFf=
K-2Fq6dYxiLGMIk3eed6yvkEz0TTqKLf-2F2TtnCz3U7GE9VAcQi7ij0K5oSA0pWGgFen-2BArh=
bIOdRGtzkDPlIlZqF8lqua3tGS87pMYQAzJpTY4f0GvZ-2FWpFlzEnYBUMH8" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">Mark Benedetti</a></b> as co-CEO =
effective May 26 following the Paris-based firm's AGM.<br><br><b>Omni Partn=
ers</b> appointed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c=
lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWliUHGCMIrz96Bp=
jxtMNCvZdh3WG7iQyQoOVrmchJK5g-3D-3Dmquh_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJY=
L0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-=
2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHd=
eYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExc=
wvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2UGzMrSqvq=
DpndFKkmWjX81uUqog2CGG8pZrbVC-2B4ztHU-2FiEdUyE1TnSWpUtnmuenXrrIPep1hn8dga1O=
JC3CGpudHZi1HB-2Bhy-2FGxdGp94Qmbzclkw4H9StStbI8bv2C48z5VIAzieyJw-2BucG9184n=
iNrcoLpy4EGIFKbPk2YSJUNYez2pNKJaPXHTKSbAYq71duaK8GmcOvHbBttgtk1RHk-2B9XjPvV=
1TgalBOE-2B4WkxkpbEeGknY9J8-2FdD9WpXNTVF8Jy-2BhVZ-2FmUEQDxvrh-2BVQ" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Roald Hunvik</a></b> as p=
artner to lead its Nordic investment strategy.</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"><b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWliUHGCMIrz96BpjxtMNCvbB6dfk23CJma0E2gG=
o4-2B-2Fw-3D-3DJuDn_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb=
McVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJan=
QoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86J=
OqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvG=
RqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2V2SbCvWTge1koyUiAuu-2BBh-2Bdy=
Fp8g8c2wvsblN7G1BHZ1Iv9sRwWQdUihMKtRx4TS8SmgcXsvbMPPpgKLgENu6c1wll22epH7GC-=
2BnAhEOBCE7E77B6mx5UV0locX2-2Bwph82qnE-2BHMOEIdvBcrS-2BK5phfXGhRrvTI4TnfdTg=
sPD5GgTrp3P-2BK5-2BmjpJe3GX7VPn-2FdMw-2FfsvBlWVCue6Sy6O9SqjPqmTSLtK44LyWv4k=
JN8JA-2BYY-2BPT9wB-2BLL4WR3Qczm4xR-2BH3Z9Wx9ML3PMx98" style=3D"color: #1D50=
80;" test=3D"" universal=3D"true">Cognition</a></b>, an AI startup speciali=
zing in a programming agent for software development, raised over $1 billio=
n in a round led by <b>Lux Capital</b>, <b>General Catalyst</b> and <b>8VC<=
/b> at a $26 billion valuation.<br><br>
AI inference startup <b><a href=3D"https://u=
rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzWliUHGCMIrz96BpjxtMNCvNFQEq8GVOF7RFLvYqBTLBA-3D-3DQ0V2_P=
r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHn=
Wm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2B=
gJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryaf=
yfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04O=
fV9ip5YDcvrhFXrv4-2FJE0t2UpmEeQk3jYUXdcB5Ltkvgkqwfm25cLG-2BTQQOVDtdDrNeJQXK=
u-2B0zeLzEJYdc3U5lOr-2FV7a-2FvK9nLdX0QZkKz0-2BXbpvijiA4s45KcDVpotxiacSOGQB0=
Xk2RAO8YkhYaXqKEIQ21ws-2FpwZV5Vx3kiDIwJo7uHYoCc27jLD6gNM-2BHkYMPti6EsI4dEpY=
7hAtnCtwAr8BZ35RFKSz-2FmrttZ6SGgFrVHaQLAYcNIsy-2B4QBHyfw3b91QplYIJ6ubLR9UMH=
AFxSlMB7vbu6Qh6uI79tw" style=3D"color: #1D5080;" test=3D"" universal=3D"tru=
e">Fireworks AI</a></b> is in talks to raise a new round led by <b>Index Ve=
ntures</b> at a $15 billion valuation, Bloomberg reported.<br><br><b><a hre=
f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWliUHGCMIrz96BpjxtMNCv-2B6SovyJ8J-2B-2Frlt=
GcN-2BBLXw-3D-3DsjFI_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k=
bMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJa=
nQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86=
JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHv=
GRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2XdDlIMlW7WHx6PhcOy8k-2FaxMfm=
aUa7JhP-2F-2FvKVD4yEmlakkBtDG0PmzWhhyREtPt8MHxfnXG3oFp8p-2FQf1dVkknQvSiia94=
-2BwBlh-2BJRWMGni9P-2Bc6vJafEa5n99nRaDtDjPTqxJF-2BJos9n41CaY0uhV-2FPM8VKHta=
1NPDA3QIIpacW8dUyK92J3gifQRB2OAyr-2F9cTZ0IZy3eNIFoSL2aTT671dLPpVIANBeN9aVKS=
ODLj-2BqmiJRkAvGZar30TI01qYOqqkIjWaVvUyP7iwMlb5" style=3D"color: #1D5080;" =
test=3D"" universal=3D"true">Capchase</a></b>, the developer of a financing=
platform for enterprise technology companies, secured over $200 million in=
a mix of equity and debt warehouse facilities.<br><br>
Fusion energy startup <b><a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzXxjO3-2B1PHWTaveRW2UazzGGnUGSnX6zkJ1mTRJOjQlqQ-3D-3DJXk=
l_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1P=
fHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf=
-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYr=
yafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV=
04OfV9ip5YDcvrhFXrv4-2FJE0t2X9JE3hAuZKIsyw40AK1A9kXpd0ODRzCn33hUhis3h-2BQYN=
G7JEDIdTITBbOYWpol4xXrICRftHA7-2BH1mux4-2FAtCCDQfKiMA-2FNjWVUtpfzaKOi-2FGU2=
0QMO1WixmjgjcGQBO0OQj6gdOo0D3XRoMk8IvBZqryJ5eEWgdm3p53-2B-2FjVJ8RhaeN4QHk2t=
8MVzlpXSDPHZehNsVwu9X3dGynLiRYfWSdjM6k0AzJU1pI9-2BKLliKjmcJ1lLT0rCQKD2Kp3Qu=
gmp2Gt82CGkh0xoXeCiYfG" style=3D"color: #1D5080;" test=3D"" universal=3D"tr=
ue">Thea Energy</a></b> raised a $100 million Series B from investors inclu=
ding <b>US Innovative Technology Fund</b>, <b>General Innovation Capital Pa=
rtners</b> and <b>Linse Capital</b>.<br><br>
Italian travel tech startup <b><a href=3D"ht=
tps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpS=
WIrf6GFa-2BaqM7ONnvsnswouzXxjO3-2B1PHWTaveRW2UazzGbbPFEfrl-2B6Z5-2FFbGlb5nO=
w-3D-3DR2Tm_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA=
68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8=
-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP7=
0yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG=
2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2UPeYL7eogNWUrqDi1HFWkVAROLFgdBYchlvUQ=
hHSCMyWuRiHT4fvFbX7eARpqalrm26hcAAtptWPJPpCehpb9jjN3h-2FfhQhq1qZJHo8RkRpygV=
DANDqcgBKNMJUd0IgQXgEphV-2FxNUgRbgRdtPJaY8Kn2SYJA4HNBK-2B38VT2aP4wHwQunuxv3=
akqLdGAi1jttSCD3E4FnMaQNa2eyUPQYM3P-2FhnfE-2FaXwCJUQ88xj7CEf2O2x7fci1WymNz0=
fWJUkiRPFJVakVx9cfgnOVXOgV" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">WeRoad</a></b> raised a $58 million Series C led by <b>Airbnb</b>=
.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXxjO3-2B1PHWTaveRW2Uazz=
Gu5TZCdzaHYRgIngsf5I4lA-3D-3Da0qp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-=
2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs=
-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2F=
r2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWB=
bAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2WEvkkP1IdaRKIFN=
iTaAkGjGyKKr0OHjGZ5LexZo55pucrn4AMgW4RimJGFza8T0jKK-2BsTu4vVFNT-2B3YyaYI4Ga=
x-2F1Qn8XDZMUpRHBUA1T2EL1lR15JBCE5Tdq0C2f4-2BSxKc-2Bk4A9ErhdX68IzpXhJ6sQNnE=
GqIu6wDFNU5dB9bh9o3FPGj3c4T-2BiCymq2hexFS2a5F5uugpUY4p1ZFY8JBKAo4JB-2BN68Jp=
Rr73dlSXf-2BgTNklvQy3f15OT3FfopB3BMZmvgxLcclQpXF9lpnLO" style=3D"color: #1D=
5080;" test=3D"" universal=3D"true">ClearNote Health</a></b>, which develop=
s tools for early cancer detection, received a $52 million Series D led by =
<b>Mattias Westman</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook=
.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXx=
jO3-2B1PHWTaveRW2UazzGVVyQ-2Bm2F9K-2B7SGrAJqO7-2Fg-3D-3DT8FS_Pr966knuaHmaw6=
c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2=
BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZ=
fazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6Eo=
NsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhF=
Xrv4-2FJE0t2Xa0KaqaPx9xXjXyn8ifBJWkKWdzYyKFmw5v5c8A5Hq5-2BARVCYfrf6SKKNJJgP=
x01WZmucfWW67CidZPOmil4WSGvRD78N2qRdyJPMmYF-2BioMGsu9gScUOP9rILvNukAeAc1vIx=
FLKkeBApwsvR0bRz-2FJKthPy1OALuN6jOZvtU4-2FxewneuPWENGtp8-2FYDShwAq-2Bck9JKZ=
UkN6RVE6lzk5oQpulOYZBC7sqwk6PkBnql9X-2FTtcJ6Pw6yumAD6IZ7IzU6gBRSt3jzpVXZcJt=
IOP2" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Pace</a></b>, =
a startup developing AI agents for insurance workflows, raised a $46 millio=
n Series B led by <b>Thrive Capital</b> and <b>Sequoia</b>.<br><br><b><a hr=
ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C=
uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXxjO3-2B1PHWTaveRW2UazzGXFy0HyrNA-2Be0DBy=
7wDXp7w-3D-3DayOu_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc=
Vf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQo=
RYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOq=
XLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRq=
B5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2VMfit04f1XOLLIRBgO2y9hMRQF1UhVU=
LmIRRC15FbiK-2F1iaKubzWtmRNhcO-2FnFaj2rY6M4p7fcODua0VC2XuvaFOd6Tw6J1PDUF2KS=
enWwFbmZPznw26zwSObAKdFndpCIyR2iDQ7LSnXOdE34mJk9AG48Yho89o-2FWr78QtVR3Eip7H=
yj1znzMkb9M4ptoA-2BeBz3jL-2FyXLhHVu0ve0BIsJqYupwkXAYGLx6-2BsLYTVjC7hQb-2Bfj=
Z0SAz0mF6jxZqV3ZMf1c8BKCvYE5VvOsFaGS" style=3D"color: #1D5080;" test=3D"" u=
niversal=3D"true">NavigateAI</a></b>, the developer of a physical AI copilo=
t for construction field workers, secured a $25 million seed round led by <=
b>Elad Gil</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni=
/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXxjO3-2B1P=
HWTaveRW2UazzGibzxs5gQiQ77zsN5CtdtbQ-3D-3DDxMw_Pr966knuaHmaw6c7pKvB-2BCEiDn=
j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJ=
qZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIK=
RaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4i=
fKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2Wn=
-2BRhVHdqMkrfhyWDJjFgyQLiUvYXzEWsDhXFEv0w75ujFnLAGQwzOLhwa9z8RR9wqF0vuVWOrm=
p71vdEhGgmHmt2nnqSXwr9NrvhwTx-2FkVdX1Pwbsuq-2B8s-2Bz-2Fuwea8Cpsie5LK-2BLYOG=
TWGP68X8liDfvWiZq-2BK-2BNZfEpgY7nyo-2FE63rNv96-2FIThKQipbrDCwzYMphwVj7MsBS2=
QfAcVz6cd2eT1L1dxjQszcIwoACtu1glImcwm2jpPRBNWvMFzj3kqHY8mx93Tn0KsTDqEkE" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">LightTable</a></b> rai=
sed a $22 million Series A led by <b>Innovation Endeavors</b>. LightTable d=
evelops an AI design and construction platform.<br><br>
AI inference optimization startup <b><a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXxjO3-2B1PHWTaveRW2UazzGYUsz-2Bb8CP-2BJ5fmL=
wJoNs4A-3D-3DfwFf_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc=
Vf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQo=
RYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOq=
XLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRq=
B5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2XTb6lSMmkR-2FpD7iru-2BlCVWcBCVs=
sFintR4hiuiLgFIrGdeaWz9kz7hkPEFQRyU5cMTMCU-2F7mvmfkDSjLeecj2O1-2FLB7xluYEdv=
UQO9JVyIoDsOmp6SMg1gFsGM-2F3Uv2yB-2FXcWEjOkaMgbNXOOyMwPNKk1uxETNU8cmkCf7WS4=
fFmvlW0yvF-2FXpOB1W-2FXsmOe-2FwFPFnvgAkro-2BWvVuKlF9EcwFz-2FW5qPGfKhyO-2F0U=
No-2FVz-2BLeH1XiNFBP3krUB1S1ZK4aserYuQdcLyjjqQBQ4Z" style=3D"color: #1D5080=
;" test=3D"" universal=3D"true">Tensormesh</a></b> secured a $20 million ro=
und from investors including <b>AMD Ventures</b>, <b>CoreWeave</b> and <b>N=
Ventures</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/l=
s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXxjO3-2B1PHW=
TaveRW2UazzG-2BlOwwZ0AfVjPREYL6QN2dA-3D-3Dr8JR_Pr966knuaHmaw6c7pKvB-2BCEiDn=
j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJ=
qZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIK=
RaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4i=
fKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2XK=
Ufz-2BWjvibtD20mdGIegSuWgkfTbn8UkxZPjbsxTt-2ByGSgLv5FQ1KQx6hyqvZsUveseM0Yrf=
66RqiCStqAMooKxruNDnHugIpJQL7kF1M2AkYwWBt69IiXSCHzMSoj0hYbj7M5tGCOdInytAdEo=
1Cx874L-2Fy71ez0AObhlGt0wpQBZeZ13S9ShoYZuAstebG-2BATHt7LOjh1uqBJqaitrCw3E4h=
34ooEAC9KhDncvQEPPgb3WYoho3jioctZ2jLEkFprwuYk4VSc5t7GqWUc04" style=3D"color=
: #1D5080;" test=3D"" universal=3D"true">D-CRBN</a></b>, a Belgian startup =
focusing on carbon-dioxide recycling for industrials, raised a =E2=82=AC17.=
5 million Series A led by <b>Astaia</b>.<br><br>
London-based cybersecurity specialist <b><a =
href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX=
4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXxjO3-2B1PHWTaveRW2UazzG4Q-2B9G2NYiYUZJ=
74h48vjmQ-3D-3D_YBc_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb=
McVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJan=
QoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86J=
OqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvG=
RqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2WjgVaU0U0jCozIEhVtfle47nINVNf=
OdI3jHgXMHyDI2wv4jdI-2FRjzK01KI1VudkNfd8l-2Fu1a215uulBy3txPXFs9CaRZvldKpiph=
cMJD9AZ-2FH39EBR13r8z0cTk5hK-2BTHc9GgApQz3Z36WzO5-2F6IC4f-2FC339tcj0Nfi3BGA=
9OZP8mIIfWFGRUT6XqaHePI3DUi-2BJBwqFzsFM3K1-2F-2BAdSGa7q82UI3m0Pn5ohOOvE7ww4=
XHWoSLW-2FXSthtzbIS0vBbWsXcCPNtRRpiacOwvOgxd" style=3D"color: #1D5080;" tes=
t=3D"" universal=3D"true">RevEng.AI</a></b> received a $15 million Series A=
led by <b>NATO Innovation Fund</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>
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<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
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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 20px 14px 20px;"> <a na=
me=3D"n_581264" id=3D"n_581264" 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>
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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;"> Don't miss our upcoming webina=
r </span></td>
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<table border=3D"0" cellpadding=3D"0" cellspa=
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<table align=3D"center" border=3D"0" cellpadd=
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/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXxjO3-2B1PHWTaveRW2UazzG9UafE7GJYL4=
Ajz6w27KKnw-3D-3DrfUB_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43=
kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJ=
anQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri8=
6JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEH=
vGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2UeM7TclmywYsDyn6NuJYS6p2i-2=
B0xz3qRq6FamVJKLkVjzSf4ZoUiSiZvqGNjfUntzz-2F-2FNIzZVtR3MGwA61iPQLypT-2B6O33=
-2BGELMAQIebq1Mg-2BAbhyBHdGsKjZ-2BIvDeBXpuXGXuslUtDaLY3OhwnV4gR3-2BFr4jqvEV=
bMtLvZxkg9Ril5M1B9kYLv66GxnJFyGd4UlA88w8-2FOMiVMj6BMHSRTm-2F5DR4Hd0G-2F5bxV=
bwSAkdE7nhR7zJR6X7zPPgo7b4eRIJNETGifz6OH6GRp88J3"> <img align=3D"center" al=
t=3D"" src=3D"https://img.pitchbook.com/news/74503.png" style=3D"border: no=
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> </td>
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</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%">
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<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">In 202=
5, venture secondaries reached $106.3 billion in transaction value, elevati=
ng them from niche liquidity workaround to core venture market infrastructu=
re. With increasing institutional adoption, they are quickly scaling to the=
same level as acquisitions and IPOs, potentially setting a new standard fo=
r the space. Join our panel of venture market experts to learn about the ri=
se of venture secondaries and our projections for how they will develop thr=
oughout the rest of the year.<br><br><a href=3D"https://url6380.news.pitchb=
ook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXxj=
O3-2B1PHWTaveRW2UazzG9UafE7GJYL4Ajz6w27KKnw-3D-3DE-no_Pr966knuaHmaw6c7pKvB-=
2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQ=
iepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJ=
xB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpB=
Ae3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2F=
JE0t2U8mR6-2FlhVUZuOpimPbbS1YZMI-2B81zTAMwvqtcGSHH3N-2B6ccVFq9maym8LaiQEFp9=
uuvMGsk5IRY3UO6gxV2TzaR38nfWZZ4JI0VFHajO0anLxY6zHOxzX3RFNFuWJhoPyzEU5-2BSmU=
e4EKTQ3h8dt9n3QdacEszP2uEC6m52ipsT-2BHeBJiCVOj16hI-2F-2F7STjqzz7SI7iR8lnApP=
GuJ1xtTiE92qxNgcnqmIY-2BS-2BnOB2lRxpmkThNVigofddvGefRaJD1BQpX-2F0vUhzSZ72ES=
YrT" style=3D"color: #1D5080;" test=3D""><b>Register now to secure your spo=
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ight: 6px; padding: 0; " colspan=3D"2"></td>
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</tbody>
</table></td>
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<td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2"> </td>
</tr>
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<table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
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>
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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%;">
<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>I S=
quared Capital</b> agreed to acquire a portfolio of 10 data centers from <b=
><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7=
3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUpb1yxk9GhAGMAiyj7FWfrIKdaKO6qpC6fX=
WaMbvhuxQ-3D-3D8oVl_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb=
McVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJan=
QoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86J=
OqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvG=
RqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2XyN0VfhsxzOK9F8iRo4k54phF3kcQ=
bOBXoOTG9qfPZXf4g6D9i1vwujAUeZ4NNY0jPvwuCZVeVahjSqifVI6KwEt4QXRqiS48domra2k=
JmkPI504A9Ckre22ucn3lO6oGhg-2Bq3AKxSWapXQKddilfnbgNfKTBee17OVJYuP23ddV9vUvN=
91L9MoiAEvNV7eN7z0u-2Fv0wU4aTKuIWdjTEfqR4Mk5GM-2FnwIxZ-2FHVsk4EG0SYD0n33IL0=
SBDmsiPhClVDfijX9bJWIg-2BMhnHF-2Bs4j" style=3D"color: #1D5080;" test=3D"" u=
niversal=3D"true">Cogent Fiber</a></b> in a $225 million deal. I Squared wi=
ll invest up to $1 billion and use the acquisition to launch a US data cent=
er operating platform.<br><br><b>Hg</b> made a $500 million strategic growt=
h investment in <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli=
ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUpb1yxk9GhAGMAiyj=
7FWfrSXv3n57C1YSJGNS0oJpMSg-3D-3DqH82_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0=
YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2F=
oTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeY=
g-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwv=
mnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2Vy1ukmDBfkk=
xnUzBYaCcHDhVRCVHiN1IfZHNd8fvtizUxBZ-2BVuY3GdqH1sUTLw9EfJXfrCBvfyLsYOH7-2B9=
IlwTl1pZAJPzZa1EFaKDCRhskEVeLr4jfVp-2Fx9v-2BlbiKQENE5wEgP1D6vj4Vn2ioC0GDNSO=
I7RY9CVB5gUrWmqA-2FVo-2BQm9df7gFwIatl6ma4No6pJxYPFTj2-2Fpwa0WVeMyBflD-2Bxs6=
knOXVn6cNtxFJwoQOQB68g0VM7Dr9pRMeCDHudTZOWwo2T-2BDs09AVWODUE" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">Rightsline</a></b>, a Los Angeles=
-based rights and royalties management software provider.<br><br><b>Littlej=
ohn & Co.</b> closed a continuation vehicle led by <b>The Carlyle Group=
</b> for maintenance and restoration company <b><a href=3D"https://url6380.=
news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM=
7ONnvsnswouzUpb1yxk9GhAGMAiyj7FWfrBSBiACT1xJQlBk6uko2-2FdQ-3D-3DOLXg_Pr966k=
nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2B=
r1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SM=
nKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVt=
NU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip=
5YDcvrhFXrv4-2FJE0t2WdnNZRazZjvxUZgdn9ron3TT1Z1tpXrExZq7b4Ko13nSel0JltDKMKu=
cO75csls9aVRKevBkK2Nxm8Wa0bNvRCmNc8vhGZRO2ML-2FpgFJETUyX8kNk7Qhs-2BqgYRiW-2=
F8zrTLdYwJUO0U-2FCDDOEJqvfY3SsWjJgMGNTgnW4MKF9RctEk1pr0Drp0V6rNC5SCXFChmmzM=
XEaY6pX25asRber3dHr1V9G-2FqHPBg5rm95H5A-2Frr6i3fc0bL7Go9je4tRMRoUPRu7U5HexV=
oWw0v5feBf" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Valcourt=
Group</a></b>.<br><br><b>RC Capital</b> invested in diagnostic imaging com=
pany <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0=
01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUpb1yxk9GhAGMAiyj7FWfrS-2FL3=
FZxou9rRvKcZDAGJ4A-3D-3DAtRR_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4=
BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0=
OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmP=
Y-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtc=
EzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2V5Ryph804Hd7qhMdjIlc=
UhuohaMHnxMiPlWKJewMxCNS3rxwMMaUnyArWtwcK0-2FtNuZblTFgkh6xoceayfZKzHto4B5un=
4GqMCuOSNDEsbwj1aBVnv7OYpA1nBy2uGrSCYzg9wOEMioERmR8MjoL7F9TdQhmuIWSDY6g1Ngg=
0rajnKohXyFZXjcJt3qgx8c3pfgvNIsqPN4OU2UePCbx9iEhNR33IR4IImd6wGAdkMbt-2BB7sH=
mlwX1TMgUxcX2pbVivtt93s4-2B2ZkKZcvtMNI-2B" style=3D"color: #1D5080;" test=
=3D"" universal=3D"true">Captive Radiology</a></b>.<br><br><b>Equip Capital=
</b> established a single-asset continuation fund for <b><a href=3D"https:/=
/url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6=
GFa-2BaqM7ONnvsnswouzUpb1yxk9GhAGMAiyj7FWfr80sWmcofEUiYpBmbihAI0g-3D-3DwznH=
_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1Pf=
HnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-=
2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYry=
afyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV0=
4OfV9ip5YDcvrhFXrv4-2FJE0t2VC550eh3C8SD1dhUo0yBJpdE-2Bak-2B2iA-2FSm8ceCQ8nj=
7Aowch4bI8tKH-2FBVoHSRnnrjSLxmnMI9p6rU8wDObls1BUjOVMjVeH33w5tUX4pdQgX5qUcWX=
KRS2g5ALI1FaHid-2BR8nztXUt8PbKFEMlgU2T6QEh2qfXAWwPXySw4CVOdSzvAoiIjGA48l-2B=
TZ3b2bKu5nf9GSYzd0HdO3LwTRPf-2FQVUkLRTJe1LOmPlwHSRqcwNjcmRAPMWgkOPp2SRpTgaz=
9YTNCjwFkk03aJqe3e6" style=3D"color: #1D5080;" test=3D"" universal=3D"true"=
>Ryde Technology</a></b>, an Oslo-based e-scooter operator, with <b>Goldman=
Sachs Alternatives</b> as lead investor.<br><br><b>Sixth Street Partners</=
b> acquired the <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli=
ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUpb1yxk9GhAGMAiyj=
7FWfr920CDc-2B4pVgoZq67F-2F64-2FQ-3D-3D_RtA_Pr966knuaHmaw6c7pKvB-2BCEiDnj5U=
wlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4=
cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL=
4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKq=
ZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2X-2Fs=
j2Z29kf9CEyqzujh-2F4fgJFtu8zM3jfvqvLZCzWnTRZNbk9Ih8AS43JXBEbjVsvBnUnfZpvIgO=
y9KO5aQdfDT3AdgBas2vMHMNXUAb-2FN4BaOeuKr0HwFw0esuiGEI10PWhq-2FfubLMnlgRlaok=
xyZBcVfsWgBXeTqLS0yPpcUktgOC-2B-2BWsRi0fddoUWaAouxRxbVszG5dXCZ-2BPrdkG4jvGv=
kGUEpx2Sscm-2BfmIX5tC6d4pqr3Uo594xelvM4jECCX72ToavTA-2B5vWMddvi7HD" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Park Hyatt Beaver Creek R=
esort & Spa</a></b> ski resort in Colorado.</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">Taiwan=
-based solid-state battery maker <b><a href=3D"https://url6380.news.pitchbo=
ok.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouz=
Upb1yxk9GhAGMAiyj7FWfrKXdrSU7R9-2BszPSRS-2FpXSuA-3D-3DEeek_Pr966knuaHmaw6c7=
pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BH=
H5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfa=
zLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNs=
CvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXr=
v4-2FJE0t2WFLoDzSk3u1srPHOi-2BRcnCHqciIK0RpuxJahHDjJizchSjtxMpgoYS96xi9i9Re=
Bfs0HL420wGwFIYK0JrkecFhfB2-2FAmMuC4BP02kJkQbhIN4CTeSBBYNJOq8uUUHF-2Bkn1ZJO=
V9OnwTO-2FSz5FSkE-2F6U8J0atR1gOjHv1cLWGhYrvdnsN2msjFzL-2FrAlz5j4DKF8RQ1Y-2F=
JuYfK0CY73w-2ByGoOirCD46S6LtCxHjJjxgO4WLJa8GldIKtgYIneah0J4olDe4Lo3saUoMnGL=
IR3c" style=3D"color: #1D5080;" test=3D"" universal=3D"true">ProLogium</a><=
/b>, which is backed by investors including <b>Highground Holdings</b>, wil=
l go public at a $3.8 billion valuation via a SPAC merger with <b> Translat=
ional Development Acquisition Corp</b>.<br><br>
VC-backed French nuclear energy startup <b><=
a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUpb1yxk9GhAGMAiyj7FWfrOYjbkk9Ra1L2oHc=
nbE01wg-3D-3DoIB8_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc=
Vf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQo=
RYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOq=
XLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRq=
B5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2W204mtxhGfQ30grWC-2FpRsdHx629D8=
G8o3MuuVMmz8d8oscpa7Lqre03mOfhfAbjWcf5j51TkQSxgp1o7BfWiovBqArI0P4YfmhLd-2BM=
Q5lqBo3ZYXMv3S68pk50CYNksaQBjZUxL6Lha3dkSOhThQmdns-2BZ2t11ZM0-2BNnHq7IjsPxN=
iIhfby-2BiGN9OFkOlFwzph93lP1xB68295twHEdjjMP-2Fkz7zfS7ShNDCgbHG9azMRPFGHK9b=
jkxZCgueHtr99AfhS1pwz1SQxHD73rHhV3" style=3D"color: #1D5080;" test=3D"" uni=
versal=3D"true">Newcleo</a></b> will go public in the US via a SPAC deal wi=
th <b>NewHold Investment Corp. III</b> at a $2.4 billion valuation.<br><br>=
<b>Fidelity Management & Research</b>-backed <b><a href=3D"https://url6=
380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2=
BaqM7ONnvsnswouzUpb1yxk9GhAGMAiyj7FWfrDm7xoJpSNWtsM-2FbS-2BbPytg-3D-3DBE2O_=
Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfH=
nWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2=
BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYrya=
fyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04=
OfV9ip5YDcvrhFXrv4-2FJE0t2U11J-2FvY8aAWdXXgl2IBPwGQ4R8d4v-2Bj64b0eiNS6FBpdr=
IdDJCZsjtONvj0dzYXtLHaEriSbP4QLbNopQTLiU-2BWnpkkepMa7ONkdcBpBX1tvtU4UdEaKbI=
ElmxovkwL5FPjnzzv6GAxkFhQKKeIJDK6ri6sNeFB0voWypRgjhQK64Nu63wdwxN0gQgibLQ2MX=
qUnpHrQdC9WMqAgB1G1D0kwawLYTHy15OAHjTu-2FAGxWsxJd6BHwtL1dvg-2FZrsSl2V7bPeAl=
Rxo-2FiZwW4AaK9c" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Ka=
rdigan</a></b>, which develops treatments for cardiovascular diseases, file=
d for a US IPO.</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-2BaqM7ONnvsnswouzUpb1yxk9GhAGMAiyj7FWfrf9uGLQJzr3HmB-2FQ=
gOS-2FbYw-3D-3DE5B5_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb=
McVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJan=
QoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86J=
OqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvG=
RqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2Xx5BnoAgHBPQEWyXo-2FD-2BjLx-2=
FCUJD1kE2VLUKY-2F1LJy8z3j4vPN0AGYQ-2FV5Na-2FGnvNIfTZNg4f4-2FeGh5hudhAK3A-2F=
7NAIny5e5ryLIHGIZzJ-2Fc9PKkOTUJTnUWqlXRL1P6SEy-2BNqsZvFm9p8VrfeYOog74lHr6Xj=
y4YzsSGbFrxc0-2BsHihQmUETQbiWKpH7hdfL-2B-2BJL3LxRfPpJsd4SEqx8IB-2F5v9MT8oQI=
pDdi0VdAkI6tcN-2FpnGTX-2BhEeFQkjdb-2F8jRdbAamwN8FhdYgHhven" style=3D"color:=
#1D5080;" test=3D"" universal=3D"true">Transition Ventures</a></b>, a Lond=
on-based early-stage investor, raised a $150 million fund focusing on physi=
cal AI.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/clic=
k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWldJncFBFEJCq6XQiC=
q6RAb0sKomjbGZJMA9XU0MozQg-3D-3DV84d_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0Y=
QP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2Fo=
TBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg=
-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvm=
nWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2XLY8wcTjmhpC=
TVGkcBakfRhUMMSIsnd0A5QtVrm4vxTqlS3pb3zQV9zzuM-2F-2FasuTVSWCoZRY1Xadg0T8iQG=
CcuEhyIBzNT6qcYVhhnosFjmcpOKG0RwQIAfKtuvZEo94SzGSlq2dYTXxZXrwCD947NOeBon-2B=
ADiyP0qmqRzHWLLEinDn64l2ch4xf2meTCFNLrfcXcMUdVM5CVwIXY5tAhYernS75S3X32HtP8w=
Nj60BUf-2FQkdJlZ7oga0-2BGLrKaeX5S-2BXWOC4GmO9PXWGpoMx" style=3D"color: #1D5=
080;" test=3D"" universal=3D"true">Opto Investments</a></b> closed its AI-f=
ocused VC 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>Investors</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-2BaqM7ONnvsnswouzWldJncFBFEJCq6XQiCq6RAsHpQeLXd7ofeN6DYB=
Z-2FEkA-3D-3D3nvp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc=
Vf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQo=
RYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOq=
XLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRq=
B5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2WUrXnorxnlc-2B0IIfY-2FhIpf3HoJD=
GVbGZaPgasAcrPPLuDVSPjyNJtC1PvfWvBnJsBWX3Bo-2F8G6LwP38jYmT-2Bgy1NaeIdx7ZP7z=
qT1e-2BUCkB5zyScdrN-2BTZe7OymiJMa4wMqpjcA-2BoIor9BD4NjLMUAzxOzbyoAHuYtuGWGZ=
2o20KwXmlztIj6NKTzf3Eqn4cbZey-2BAuK-2BdPznBGJ-2FX-2FL8-2FfYB6fBhT0caIyn28BI=
jF2gMDrjAT4YOizFhXAxxNKUOtdl53dhQR6pQxrPDcdVPl" style=3D"color: #1D5080;" t=
est=3D"" universal=3D"true">The Carlyle Group</a></b> is launching a unit f=
ocused on middle-market deals in the aerospace, defense and industrial sect=
ors.</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-2BaqM7ONnvsnswouzWldJncFBFEJCq6XQiCq6RAsxiNuimXV=
xzWJyui8JyZ-2Bg-3D-3DFAcR_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
VI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIe=
MUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqubaZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2=
Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzE=
LZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvrhFXrv4-2FJE0t2XN7ceSJdskfdl-2Bpc5Lo-2=
B8YN2-2FHS0E46o-2BGk5vDRH1C8hwvSEaI4CbeWYdwsubaM5qmlzVO9NKALBlzbeHmLOvTaRrf=
XPgOVrFV2fZfIVw6zAxqWdX8ADVELdR-2BjcENcj0qzs9H5TQ-2BdqNBpp-2Ft30NyR5G06x-2F=
Qj-2F9p4QpRLphZDvSk-2FHad3BfeN7qAw0hYUYNzRP5IshKjfFuQpRvK2SPcfr5r36fZinoeNX=
VacqWylXeDUkAGWx-2FpylNIWGAV6KFNR1DDHyifMODeIaZEsgTL" universal=3D"true"> <=
img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/74524.p=
ng" style=3D"border: none; width: 100%; height: auto;"> </a></td>
</tr>
<tr>
<td style=3D"height: 20px; line-height: 20px"=
> </td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table></td>
</tr>
</tbody>
</table>
<table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
<tbody>
<tr>
<td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Ares M=
anagement, KKR and The Carlyle Group were the most active PE firms in the w=
orld in the first three months of 2026, according to PitchBook's Q1 2026 Gl=
obal League Tables. The rankings track all PE deal types as defined by Pitc=
hBook for the quarter in question.<br><br>
Source: <b><a href=3D"https://url6380.news.p=
itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs=
nswouzWldJncFBFEJCq6XQiCq6RAsxiNuimXVxzWJyui8JyZ-2Bg-3D-3DRzch_Pr966knuaHma=
w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRNBy1PfHnWm-2Br1-2Bf=
-2BHH5IBQiepwxEJqZ4cij-2FoTBs-2Fp0OIeMUGJanQoRYgJz8-2Bho-2FYf-2BgJ8SMnKbqub=
aZfazLkRJxB3zkIKRaL4RHdeYg-2Fr2ZmPY-2Bri86JOqXLVIP70yfwgnhqYryafyfSVtNU-2F6=
EoNsCvmpBAe3OD4ifKqZExcwvmnWBbAjtcEzELZEHvGRqB5ozxG2Ebt1UMwIV04OfV9ip5YDcvr=
hFXrv4-2FJE0t2WiVxcQ1UNdaZM4ZDYo7eLd3Ds6LM6uX5lvh43VHqBIDQVl7kmgHj3pqoTRDgU=
hEnFuU9o4tYBF2T-2B2LpnREfA4Ia2XQpbV9PcdB64OfT0hUOYRN4Hdh4Mx3Ezg9SCr3m46pZBY=
dS9aQbScZiWr6ae5zUZMI67SNVd3TtoTYyUh8zAr1dZcu-2BggrPF28I-2FFWGDYWyM6tCPS5T9=
1cEMiD5v2og2BB6uZRkt5PZpfqTS0wkZGwmXqY9ZZz-2B6ixzYC0JKptV4lOtWn4J7bYyksqPjo=
" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Global League Tabl=
es</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>
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<table lang=3D"x-sidebar-block" width=3D"140" cellpadding=
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<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
">
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<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>
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