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Envelope-to: vetyl@ponjosonek.com
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Date: Thu, 16 Oct 2025 11:35:11 +0000 (UTC)
From: PitchBook News <news-noreply@news.pitchbook.com>
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Subject: PE says hello to IPOs again
To: vetyl@ponjosonek.com

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O2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2A=
oeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ=
0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRLCWG3qj2jNnoBZ9FkrRQtViHIpJ9aGV6RG3v0p9H=
qP3dE4FEE8BigImqLvtTsdqx6fxgxSsVrJ-2FhIT7usRU09-2FWw6Vqzdx-2BUYVM10thSiYMOb=
B-2FpdYoO-2BCJq-2BOJu26ih3ZbtbFntwQFfKREms52xZx0wYbeypG7gvT107tiAlZgefCMUqo=
n8gS2I1GhQXK2k5ceHdc77K473HBSuOCFIo2AsErATEnk8MYaCyNEPhBXp9c43Yckaz0wV1TW6m=
mJOM-3D" style=3D"color: #1D5080;" test=3D"">Sign up for Capital Pool</a></=
b> to get weekly commentary on what's driving LP decision-making.</i></td>
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                            </tr>
                           </tbody>
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                        <tr>
                         <td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
                        </tr>
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                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</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_573716" id=3D"n_573716" 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;"> PE says hello again to IPOs </=
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-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 and Janelle Bradley, PitchBook News</i><br><br>
                               Private equity firms have steered more of th=
eir exit-ready assets to the public markets this year, underpinning a much-=
anticipated rebound in exits for this industry. The jury is out, however, o=
n whether we are seeing a sustained recovery in the market for PE-backed li=
stings on US exchanges.<br><br>
                               In the first three quarters of the year, 20 =
US-based companies under private-equity ownership priced IPOs in the US=E2=
=80=94already surpassing last year's tally. These offerings carried a combi=
ned pre-money valuation of $103.9 billion=E2=80=94already 135% higher than =
the full-year total for 2024.<br>
                               &nbsp;</td>
                              </tr>
                              </tbody>
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                              <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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                              <td valign=3D"top">
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ing=3D"0" cellspacing=3D"0" lang=3D"x-image">
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                              <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-2BaqM7ONnvsnswouzWiU-2BOI-2FIuQQxRRl-2B2X3mR3wg-=
2FfYNkFq5ornL-2FxRxGLxA-3D-3DkD8R_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-=
2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXH=
h7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7=
OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3=
lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRLrLdoOmmKZqCfF8m0pG4awV0kTj8p=
RFTaO-2BojpaDDSJ2ZMQYZjXof7r1SsWSIuVeD5h0dvVOsB1DDgRZtyR1Eq-2BmCi2H8cDVxGyo=
Nms-2FVL6LJC4lyCOhHQIBcWyg7YE8Ma1-2Bnbu4rRxrn3yodMDVMKAJGXa4GhOefja4i6IAgLi=
7S1mh-2FMIOk6FeWry6b1TSBDKbtvRXeld2oZgt3EFgKvl8K9zALrBz39us-2FzleEKEjmjn-2F=
vXg3lwb55zm3yVNTY-3D" universal=3D"true"> <img align=3D"center" alt=3D"" sr=
c=3D"https://img.pitchbook.com/news/70900.png" style=3D"border: none; max-w=
idth: 420px;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table>
                          <table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
 ">
                           <tbody>
                            <tr>
                             <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><br><b=
r>
                               That said, the volume of IPO exits has fluct=
uated from month to month. The third quarter saw a noticeable uptick in lis=
tings, as easing inflation fears, a September stock market rally and the Tr=
ump administration's push for deregulation created favorable conditions for=
 several well-received debuts.<br><br>
                               Another notable trend is stronger post-IPO p=
erformance for recent PE listings. About 59% of PE-backed companies that we=
nt public on major US exchanges this year have traded above their offering =
prices, according to PitchBook data through Oct. 10.<br><br>
                               Leading the pack is Karman Space &amp; Defen=
se, a California-based defense and space systems maker backed by Texas-base=
d PE firm Trive Capital. The company's stock has tripled since its February=
 debut on the New York Stock Exchange, which raised $506 million.<br><br>
                               Despite the improved momentum in the IPO mar=
ket, advisers suggested that PE firms remain cautious as they pursue exits =
on the public markets. Recent uncertainty, brought about by the US governme=
nt shutdown and renewed tariff flare-ups between the US and China, presents=
 near-term risks to companies seeking to price offerings.</td>
                              </tr>
                              </tbody>
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cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: =
100%;">
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group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid=
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">
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ng=3D"0" style=3D"width: 100%; min-width: 100%;
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0px; font-family: Roboto, Arial, sans-serif;
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ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWiU-2BOI-2FIuQ=
QxRRl-2B2X3mR38LLKbwCDqi551GgdWF-2B3PQ-3D-3DA131_Pr966knuaHmaw6c7pKvB-2BCEi=
Dnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPS=
DZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCz=
oRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOe=
C0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRIN4Fzm0nPVFkbt=
VG12ayaQNpTpYpiWTVcOFHjW5hFre8QxozLFgamVRdmQ3uOE04FFwe0LYbgP9ZWp6VVd-2BhEMa=
lI3lpdHvzuSHeUVRe0BfIq7XDbwd0h7ksk7RTzAhwKTF04OEhUP8AQJk8PLWmX-2FxmKzWj0JW1=
wqfVWKcZc1m-2FjBV3O-2FfDOhNUTjv4WbtsXTTqBJDLfPIk7-2F1LWhqGarBSveLdodinB5EjY=
h8y78oY-2BoIRKWf5AZhE-2FBGr2URPI-3D" style=3D"color: #1D5080;" test=3D"" un=
iversal=3D"true">Q3 US PE Breakdown</a></b></td>
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ight: 6px; padding: 0; " colspan=3D"2"></td>
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20px; padding: 0;" colspan=3D"2">&nbsp;</td>
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lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
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nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
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lign: left;"><span>A message from Columbia Business School Exec Ed + Wall S=
treet Prep</span></td>
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dth: 100%;">
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" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
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                         <td style=3D"padding: 10px 20px 14px 20px;"> <a na=
me=3D"n_573505" id=3D"n_573505" style=3D"font-size: 0; text-decoration: non=
e;"></a>=20
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">
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tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s=
erif;
                                                                font-weight=
: 500; font-size: 20px; line-height: 26px;"> Build hands-on AI skills and a=
n MBA-level network </span></td>
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cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
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0px; font-family: Roboto, Arial, sans-serif;
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                              <td align=3D"right" style=3D"text-align: righ=
t"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B=
rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWiU-2BOI-2FIuQQxRRl-2B2X3mR3xqJD6cp21=
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0N-2FjtK-2Ftixx8uskuvC3Ijslx5Mt7pJQsRAwI7yOHURhscuAef-2FbJzlIvsJcmpjqu38mzR=
jIFyY-3D"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/=
news/70748.png" style=3D"border: none; max-width: 420px;">  </a></td>
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>&nbsp;</td>
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                              </tbody>
                              </table>The 8-week <a href=3D"https://url6380=
.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON=
nvsnswouzWiU-2BOI-2FIuQQxRRl-2B2X3mR3xqJD6cp21ZyXbaTVO1V3iw-3D-3DlpzA_Pr966=
knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsY=
GPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4=
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ryJt5VRJY-2FcGI-2FGyRTFXX8t21EARzJnCFa2JSTh6WAjA3-2Bob3DKx8YFgEx1pmdPVV5Hoc=
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21-2B9CWyD5lQfapEH0RK3I5Obpi2jbW1STRA2-2FpwDr1xmMuZsy2maUYkSCaaNEClXQxl0rs8=
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BOI-2FIuQQxRRl-2B2X3mR3xqJD6cp21ZyXbaTVO1V3iw-3D-3D9DMt_Pr966knuaHmaw6c7pKv=
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                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</td>
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                  <table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
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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;">&nbsp;</td=
>
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dth: 100%;">
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" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;">
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                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table border=3D"0" cellpadding=3D"0" cellspacing=
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 ">
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                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
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                              <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>VC funding for the medtech industry is on the road to recovery.</b> =
But while growth-stage companies are experiencing a surge toward 2020-2021 =
highs, early-stage specialists are feeling the squeeze. <a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzWiU-2BOI-2FIuQQxRRl-2B2X3mR32LOI0wQ8BHSYYmXOC-2BBLSw-3D=
-3DCBTf_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV=
R2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7=
mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuy=
jXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUz=
aBnJNsfO8fHzKryJt5VRIdGtUIwaYRqH5LCQcTCjJaAaGZnIMFBi4wBIWNPEINiiIWK2b6y55wO=
72pjtsf4vn3dsR226-2F-2BpA-2FHL0lF3RUDljD-2BEgxzlmXS3ryNn2zD6iVL96N87MV98mfq=
G23O1pljmQay-2F-2B-2B1v18RGKZkPZG016AOED9su0a4m81Wl-2BWLLFS7rLwMCr1GDJPHTHm=
njdw1NeOTBvnHgzsMZr9rj0i9YgF7N3tIzEqAdP47f09x3Iwt2er-2BLB2MlVGxuxg-2FDyQ-3D=
" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Access the expe=
rt analysis</b></a><br><br>
                               =E2=80=A2 <b>Lone Star Funds' $3.8 billion t=
ake-private deal with Hillenbrand</b> adds to a growing wave of larger PE p=
acts as financing conditions ease. The deal also reflects sustained investo=
r interest in manufacturing specialists. The stakes are high. <b><a href=3D=
"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7=
SpSWIrf6GFa-2BaqM7ONnvsnswouzWiU-2BOI-2FIuQQxRRl-2B2X3mR3GrIQel7Y5bW3y3o2Jv=
SmRQ-3D-3DOBZa_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8=
UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9i=
f78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQK=
wpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1=
JV7OMUzaBnJNsfO8fHzKryJt5VRKPEhjxzupp1Lbyr-2BXzHsblaRgpiia-2BmXSyIaMFTP7WDT=
SvT2pwNvdtwkSCMcXaC7qsGkyCq5AEyMkpUWnpItVzCtnessVY-2BcHv4opRbhDhy-2FX9JUouX=
OpfeTqv77YRwh-2BB8M1JSHmpHUlnJOeDqDAWdVlIwD4UXa-2F-2FOCU8F51Vtd09eK63kdxQ6m=
apFqqn-2Bdtorev1B7MSinCRIOQV8IImPIb-2F-2BpbMr-2Bw7LxPzR4S8el-2BkLiefWfECEzH=
XzJ-2Bv8T0-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Dive =
deeper</a></b><br><br>
                               =E2=80=A2 <b>Cancer-focused life sciences st=
artup Tubulis has raised a =E2=82=AC308 million ($361 million) Series C</b>=
, marking Europe's largest such deal. Although Q1 recorded its highest deal=
 value to date, 2025 has since been lackluster for European life sciences. =
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73=
BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXh8VCDX8wbc2pE6msoFfH1FCINU-2BtoCDdi=
xcQEHRcYlw-3D-3Dpte6_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k=
bMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2=
hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2Aoe=
XM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0k=
zu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRIgLvTLdLaiOjxMoGp84EMaWrFBKAFVIXrB-2BCoSue=
Tzn4Vy7X1PEzUvxDPpbCzBa-2F6SXr-2BQR5rI-2B7NnHvrEWtoRQNEXJ5L1prGd6Fjfi-2Bo4X=
U-2BRpR2teMsCKIiTu5tBokGQv6LnopiqnRhnnFN-2FPx33wmUVjfpihrWCrNOXTCJAml5faUXJ=
y86k-2B3x15o8NLfLM3SVejnguPxQY7yHnM27yaeJcoPUN60mZQ458h6iRSeMb7ecKVBVE9ocrk=
l3XJGY-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Read m=
ore</b></a></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></td>
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                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</td>
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                <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_573722" id=3D"n_573722" 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;"> VC secondaries continue to gro=
w, but GP-led deals are lagging </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-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 =
Michael Bodley, Senior VC Reporter</i><br><br>
                               Annual GP-led VC secondaries have reached ar=
ound $14.6 billion and are projected to grow by $1.5 billion in the next tw=
o years, according to a new PitchBook analyst note. Direct secondaries, mea=
nwhile, are hovering around $60 billion in annual transactions, up from $50=
 billion last year.<br><br>
                               "The biggest takeaway is that the GP-led sec=
ondaries market has grown in recent years because of the exits stalemate=E2=
=80=94but because the market has inherent limitations, both on the buyer si=
de and the seller side, its growth is limited to a small universe of potent=
ial venture firms that can spin out continuation funds and strip sales," sa=
id Emily Zheng, a senior VC research analyst at PitchBook.<br><br>
                               Much of the activity in the US venture secon=
daries market has revolved around direct deals. They're cheaper and require=
 less due diligence from the buyer, whereas so-called strip portfolio sales=
 have proven to be a tougher sell.<br><br>
                               Still, portfolios that include stakes in som=
e of the top AI startups are likely to garner better interest.<br>
                               &nbsp;</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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                              <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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                              <td align=3D"center">
                              <table align=3D"center" border=3D"0" cellpadd=
ing=3D"0" cellspacing=3D"0" style=3D"float: none;
 ">
                              <tbody>
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                              <td align=3D"center" style=3D"text-align: cen=
ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXh8VCDX8wbc2pE6msoFfH1lnNozi-2F=
7t8Ugp4AYpKW0bg-3D-3DJ8G5_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
VI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-=
2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALou=
q2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2F=
IlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRJTEXvaQ3ATBFhoxhvTYWuE1bd11nGBk3-2BwZ=
pH8bEggS0FiQjzvQWkN9bSKhBil-2FnCT9-2Fy2nYPvtXAhkWxe6-2FjKDt9DF7keI89J5GpM87=
KlNF4EzgnkxBNiUQKZ3vJVkPF8LQzKSUfZZ966VdIO1APXCKETuA4LQHxDQ91W4k1S-2BqLLceB=
I1L6vOQRxWaK9qm3TAk8zbwGzKZuDLebkrcHKWKRbHdAa96xwgHDIoX1Me2NNadq9PvhHU5AeUq=
-2BHnvM-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"https=
://img.pitchbook.com/news/70902.png" style=3D"border: none; max-width: 420p=
x;">  </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 20px; line-height: 20px"=
>&nbsp;</td>
                              </tr>
                              </tbody>
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                              </tr>
                              </tbody>
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                           </tbody>
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                          <table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
 ">
                           <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"><br><b=
r>
                               While continuation vehicles have driven much=
 of the growth in GP-led transactions, they remain a nascent market, accord=
ing to John Wuestling, a partner at StepStone Group.<br><br>
                               Buyers often need to raise at least $500 mil=
lion for a continuation vehicle in order to absorb later-stage deals, accor=
ding to Zheng. That=E2=80=99s a sizable chunk for one vehicle, even among t=
he larger VCs. And there=E2=80=99s a limited universe of investment firms t=
hat check that box.<br><br>
                               As for a venture fund=E2=80=99s original LPs=
, it becomes a choice between immediate liquidity and potentially bigger re=
turns=E2=80=94someday.<br><br>
                               =E2=80=9CYou=E2=80=99re trading upside for d=
uration,=E2=80=9D Wuestling said.</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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order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http=
s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI=
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n: none; color: black; padding-left: 3px" target=3D"_blank" universal=3D"tr=
ue">Read Emily Zheng's analyst note<img height=3D"24" src=3D"https://fonts.=
pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: middle; =
margin-left: 8px;" width=3D"24"> </a></td>
                              </tr>
                              <tr>
                              <td style=3D"height: 25px; line-height: 25px;=
">&nbsp;</td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
                        </tr>
                        <tr>
                         <td colspan=3D"2" style=3D"padding: 0 20px;">
                          <table class=3D"                " lang=3D"x-news-=
group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid=
th: 100%; min-width: 100%;    =20
">
                           <tbody>
                            <tr>
                             <td style=3D"padding-bottom: 25px;">
                              <table class=3D"" cellpadding=3D"0" cellspaci=
ng=3D"0" style=3D"width: 100%; min-width: 100%;
                                                                           =
                                                         border-bottom: 1px=
 solid #C3C3C3;
                                                                           =
                                                 ">
                              <tbody>
                              <tr>
                              <td style=3D"padding: 1px 0 0 0; line-height:=
 0;"></td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"padding: 0 20px 0 20px; ">
                          <table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%;
 ">
                           <tbody>
                            <tr>
                             <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10=
0%">
                              <tbody>
                              <tr>
                              <td align=3D"left" style=3D"padding-bottom: 2=
0px; font-family: Roboto, Arial, sans-serif;
 color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel=
ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/=
click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXh8VCDX8wbc2pE=
6msoFfH1TexCBgHDzRkJucfHvRiKXQ-3D-3DSXVV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJ=
YL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3=
r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1=
xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2=
B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRJbw2dG-2BvJPHfdgMWt72G=
iTxT1ClBQEXD9FZu03y3htszMS-2BAmVQwZYmhxxdUYvuRuXVwNbYsKB87jJMOEPVRgdqJ3o4DP=
zCn3JLz4meR7XVaChjgYQUlqsTnU7U0yL7dKbTDIpjjbYE6YJlq8YFBEDGtpw-2F83JG3w-2FyX=
-2FfGBcX-2FXylnuTF-2BeOrKu3EWYbCytZCeKNwCrTJeAEeGPTUU0OzcsVE-2BpAFyEAInHOqF=
8nq7jfpKOCUHvpX8elW0yXMEy0-3D" style=3D"color: #1D5080;" test=3D"" universa=
l=3D"true">US VC Secondary Market Watch</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">&nbsp;</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;">&nbsp;</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 today.</i><br><br>
                               =E2=80=A2 <b>A former IMF chief economist sa=
ys a market crash could wipe out trillions in wealth</b> because the world =
is too dependent on US stocks. [<a href=3D"https://url6380.news.pitchbook.c=
om/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXh8VCDX8=
wbc2pE6msoFfH1aQTylAoW-2BzZxgamhm12lNg-3D-3DcfhL_Pr966knuaHmaw6c7pKvB-2BCEi=
Dnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPS=
DZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCz=
oRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOe=
C0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRI9WoXOI9A5Zkp-=
2BXcH-2B4KQZ-2F3oslT4qSzVcw9uUs2rWe6uVBS2MbNKCDZcMCuVKnnc4WmFCxKuSOTcU1sJJ9=
X2sFNgGmvKF86PhHbIdX83dU00li6Ravrbp63IBpuIz-2FmHW6XUrLfqD-2FlGdXRLft-2Fcska=
EtktDOb2An5sdvMvy4Xjy7kzGxVBCI6BCvmOKLDf1VIIvN6lBa0f0gy8KteuC014aIBMd09QO-2=
Fq9H2u-2FEBitaUJJQfz0cUbfBX7cD-2F1nw-3D" style=3D"color: #1D5080;" test=3D"=
">The Economist</a>]<br><br>
                               =E2=80=A2 <b>Tech's shoeless era? Spa slippe=
rs and comfy socks</b> are now office attire in Silicon Valley, where fewer=
 and fewer boundaries separate work life from home. [<a href=3D"https://url=
6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq=
M7ONnvsnswouzXh8VCDX8wbc2pE6msoFfH10Zp5xThecunPt22AjIRqvg-3D-3DGdXe_Pr966kn=
uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGP=
SnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oq=
CUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1=
Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKry=
Jt5VRLhsxVIorRCvLFUuW-2FUtVl-2FzjmDTLd0T0ygeG9ysOxfQCWcq4re8ZL9DZfvhepkMKrv=
NI6OMvjT2ZUgMXTX5A3m-2FpV-2Fq1R3ULJnR6GZKfhtXPP3koRB-2BgqJLIzkbXfsnjyPtsjSx=
s-2FqkUH7G062d55BemRdBKehboKmxSc5Sxd1UTiGvsoNDxXwBSSZb1NbiinEGG7i34XqcD-2Bv=
ndxvkuxMzXw16UFaTVCp2OGXv-2B-2BCQN373oZ8X2HaVorZaX-2BTHlU-3D" style=3D"colo=
r: #1D5080;" test=3D"">The San Francisco Standard</a>]<br><br>
                               =E2=80=A2 <b>Take that, Adele: How Taylor Sw=
ift rewrote the modern rules for selling records</b> with 38 versions of he=
r latest release, "The Life of a Showgirl." [<a href=3D"https://url6380.new=
s.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzXh8VCDX8wbc2pE6msoFfH1cQzSA4IZWiucvPMA4HzFLw-3D-3DtuSQ_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6Fu=
potdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUp=
WsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2=
xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRLso=
qWdXleA9uLJa2QPz8ycGAAl1FSRdoQ6kfiWd0Tz71HZ85jvyZnpG44gX3W0Pd5e9dEvhAWfTmCD=
WReMuy9HkhDY0pRG-2FkEefDou2tkg5QXaCZvwVMzSObd0rTn0o9PFrN9Sn3ZnFU9xqj22DBTmG=
Adn-2F9lIqe3uAiIksQ-2FinsDJm9vLDovGyidOEP377shBiwXs0UODmDUc4Hcd68xdu7TUnxZb=
VM4eU-2FISBMsxzfogvn-2FwrxdYcAN3CwBtRSY-3D" style=3D"color: #1D5080;" test=
=3D"">The Wall Street Journal</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">&nbsp;</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-2BaqM7ONnvsnswouzXh8VCDX8wbc2pE6msoFfH1WhKOld15KzoYLWogK8ol6Q-3D-3DK1J=
v_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAM=
qYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTy=
AxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6=
Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNs=
fO8fHzKryJt5VRIBmzaPzNkizey81Cg-2FkbpuaQ-2FAY4gipLcevkapBh4mpnyasdLvjUcdvBT=
hGChI8PLNo-2FNTGYDXn64dQdFO3bLEzfmcVfdWFmAwq9KS8OuCcwkF7opTBYlrArXtf2XhZggw=
yLLeqaGEbehEMvFq5GbtX6INJtUEJ42VZZOqTddI2MRx8gy43B9SfFdsRsMTOXqvFUkeC5kehAE=
NEaLSILHWj-2BScjTsqd6qepdO7FwzQTaBVw8VzmJ9sAwJjzj6qb-2B0-3D"><img width=3D"=
460" src=3D"https://img.pitchbook.com/ads/ad4320/Monroecap.jpg" alt=3D"Ads"=
 style=3D"padding: 0px; margin: 0px; border: 0px; display: block;"></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"width: 20px; min-width: 20px;"></td>
                     <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: 26px 57.2px 37.3px 57.2px; white-space: nowrap;">Si=
nce 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: 24%=
; min-width: 24%;
                                                    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;">
                              709
                              </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:=
 24%;
                                                    width: 24%; 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;">
                              2702
                              </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: 24%=
;
                                                    min-width: 24%; 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;">
                              929
                              </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: 23%=
;
                                                    min-width: 23%; 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;">
                              32
                              </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: 0 133px=
 13.3px 133px;">  <a href=3D"ht=
tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf=
6GFa-2BaqM7ONnvsnswouzXh8VCDX8wbc2pE6msoFfH1abvT8LIV3UTeoCLg7v5F7Q-3D-3Dvt8=
5_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAM=
qYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTy=
AxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6=
Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNs=
fO8fHzKryJt5VRKKmCjBAkB0pXBoL8Rv-2By-2BK6kTxaNFKtpJUWX-2BTDDI5AFzqN08Od-2F-=
2F7fjpAj8vQVKkdx8J7omt09Q-2B2OnKQAGYfwaajyvrAn9FY2FMMk4wLYaZnZ9OD4NwAdasiiy=
OBwxiRe1NlQETNEzpDY5uCYxn2vKyB6lpeMoDlFxQ6N-2FrK6FfV7W23GwYMMK3JQIuBIWfIjc9=
Oav8OkBmDE39IQqkZIoY8KvZU0F8EWcOEQAjjPpa3gOmjvrmvHIiAq154a2g-3D" target=3D"=
_blank" style=3D"display: block;
                                                          font-family: Robo=
to, Arial, sans-serif;
                                                          font-size: 12px;
                                                          color: #000000;
                                                          text-decoration: =
none;
                                                          line-height: 24px=
;
                                                          text-align: cente=
r;
                                                          padding: 9.5px 21=
.5px;
                                                          border-radius: 99=
9px;
                                                          background-color:=
 #F79B3E;"> Request a free trial </a> </td>
                            </tr>
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                             <td style=3D"height: 25px; line-height: 25px;"=
></td>
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                       </tbody>
                      </table></td>
                     <td style=3D"width: 20px; min-width: 20px;"></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td height=3D"20" style=3D"line-height: 20px;">&nbsp;</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_573729" id=3D"n_573729" 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: 2016 Vint=
age Global Funds-of-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: 80.98060344827587%; mi=
n-width: 80.98060344827587%; max-width: 80.98060344827587%; background-colo=
r: #1D5080;">
                              <tbody>
                              <tr>
                              <td align=3D"right" style=3D"padding: 0 4px 0=
 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,=
 sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">15.03%</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">18.56%</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;">
                              0.69x
                              </div>
                              <div style=3D"font-family: Roboto, Arial, san=
s-serif; color: #000000; font-size: 16px; font-weight: 24px; padding: 0 0 3=
0px 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=
swouzXh8VCDX8wbc2pE6msoFfH1kK7SjeZfWxxppyz1sMbYTA-3D-3DBeh1_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6Fu=
potdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUp=
WsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2=
xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRIaE=
ZvxUUhxN76Ea5fPpwizlEraU4UeHm-2BtsI-2FL49OViSYpbnAk5QssPMNUtODXyCxdxGzz-2FH=
CR-2F357VssRywlP2hsl0aqG-2BmPGIu6BGUf3efHSVBC9UySHv6PPTgozdhMjOHe8nBVHgjx4x=
-2BOv6PoZ-2BOEbhAsTExaAR7Ey6qr2X0ZlcCOILecFpC6V1-2FnXLa1KofqpB1-2BO15iqC-2F=
L3c70DEgwqt-2B2jibUeUq5w5h-2BEwpORxPVKmpnroP-2B7XreaSZY-3D" style=3D"font-s=
ize: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Spectra I=
nvestments 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=
swouzXh8VCDX8wbc2pE6msoFfH1qOqfCe16sjdNDGfGjS7SoA-3D-3DjlAQ_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6Fu=
potdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUp=
WsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2=
xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRJkk=
1dYyNC0sJFm63HxtxsmDBjJ-2FQiC2G4snO2OcX3g0OXwvXMKTJOa-2BDhSbMhqWUV3KUlOylb8=
W6hD5qYdNU5NDds1KX6nvb5JrL9nOqWlXbZaHdb66mO4xyKeW-2Btf9WnoCQLjQxMK4lG0bLRV0=
zefgokqdfAXmU9GO-2B1tfM6voo41o03m4SQsnyXBge0CdSWsCXXUEiGH6pFgpt8Km7UETjxZTd=
Kr3wjx9kucguBZHivHx1BnZVttjeh3F1MdGWI-3D" style=3D"font-size: 14px; line-he=
ight: 24px; color: #1D5080;" universal=3D"true">Ironsides Partnership Fund =
IV </a></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              <tr>
                              <td>
                              <table border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style=
=3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w=
idth=3D"100%">
                              <tbody>
                              <tr>
                              <td height=3D"22" style=3D"padding: 15px 10px=
 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi=
tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn=
swouzXNCbdqBnV7NKFFJkaXsOppLytarKVOrz2bmAy2Z7cutQ-3D-3Db7ms_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6Fu=
potdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUp=
WsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2=
xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRIZV=
IusvidPyHUWcOAzfhRwn57pRExATI2xJnGpiV5chwwe-2FeMzRcUvbUXuUzjbKd6Dcf-2Fp0MJ6=
BOAuqv-2BybD-2BCiuN5w8wdgf8-2FieGs6sRNgzsudlCmuRl52hFV-2BvBUkm1OWLJgp7TT5jD=
NhFlDYZ8nehhOaLArTHhCZ4VpuxHhf62O5tFQq2ujOR2zcCs10Nc-2FRVvMnGTW3kkGslhwkLj1=
yjcHD95IjpoW4SWLZydfXz-2FdwpFr9J5LaybXJ-2FDdi54-3D" style=3D"font-size: 14p=
x; line-height: 24px; color: #1D5080;" universal=3D"true">Adams Street Vent=
ure Innovation Fund </a></td>
                              </tr>
                              </tbody>
                              </table></td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                            <tr>
                             <td style=3D"font-size: 14px; color: #78766F; =
padding: 25px 0 5px 5px;
 font-family: Roboto, Arial, sans-serif;">*IRR: net of fees</td>
                            </tr>
                            <tr>
                             <td style=3D"color: #1D5080; padding: 25px 0 2=
0px 0;"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0=
01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXNCbdqBnV7NKFFJkaXsOppnLYFTG=
W6kHDxeqHTiFnDxw-3D-3Ditl4_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi=
QVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe=
-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALo=
uq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2=
FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRKljCw5nNjJyb-2F61Z7ICHqmbC2b2RYdzgUN=
Bh68FWEnbBiTzY-2BB166mQWtLJt6koZ5mYbhdawiBlU2EBy4Ulwe5smlVMNYZzvn-2B7IO2hCK=
WUjnfDGq80fFdUKEzK2mmhQk9JcJBrQNmb47sDey43fITGN-2B-2BwTCaAR-2BCnMdcfvcQ7ftv=
F-2ByWI-2BynmsuSQwziy0yjMC8xmQULwMc1twPvs2qNYPZ0zYZL8M40MGPwC2chJttkscQT1gp=
GDkznVvnMUwc-3D" style=3D"font-family: Roboto, Arial, sans-serif; color: #1=
D5080; font-size: 14px; font-weight: 700; line-height: 24px;" universal=3D"=
true">45 Funds in Benchmark&nbsp;=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-2BaqM7ONnvsnswouzXNCbdqB=
nV7NKFFJkaXsOpp9-2B2MvQTEZHI1B8-2BRZEpW7w-3D-3DiAz-_Pr966knuaHmaw6c7pKvB-2B=
CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAy=
RPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJ=
fCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3ta=
gOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRIA6EGypnzWa=
Ork27O-2Fpi1qDlYYkNMWLD4BIt-2Bmps1iJI1DdjeE5Ma5VhcylwLk2OBxAYnv4MUIEQtlvu-2=
Bkh-2FFVmIuEutV-2BDPVVY6UiF17rtrPjoOIHgqyFbQrhRswV2hCBd-2BSUwqYkXEAaL1kClzI=
OIgoVqM-2FvIFT2QEBVHxnBFoRLvELNGIyFrr0jjpHVa0OhZYMP-2FIk52VPJzuvWqvg8UJTEyy=
Lw05ppjyWtO8Zvcpk95mTntEnNvGUIXyroXIY-3D" style=3D"color: #1D5080;" test=3D=
"" universal=3D"true">PitchBook Benchmarks</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">&nbsp;</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;">&nbsp;</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-2BaqM7ONnvsnswouzXNCbdqBnV7NKFFJkaXsOpptH1uFTyypvt2EFERW=
QHTLg-3D-3DJdOv_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf=
8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9=
if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQ=
KwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka=
1JV7OMUzaBnJNsfO8fHzKryJt5VRLxiba5FsmxVwqMfiXRnoVh9jAwuML6z4qByZGOifxm1kLJR=
SFnYsagae3Cs1WVoP0yGgnojl6kOcVLnYoW5ozZkw3H9u0F1AO6sjG442GBZnKx2mslk8a3X6VJ=
gthPrimkCfOcvMwlzpuPGEZffXLZy926U8ul-2Fzk5YeObRl5vGYGuXGmgP1K222KZjgplPeAWW=
1WdmcUGGQx3cyZ5rCzI9U71UfTnDfL0Oo5FZB-2Bne2HUnzRPPcH-2B5uZi-2BbPrXh0-3D" st=
yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Pelage Pharma</a></b>,=
 a startup focused on regenerative treatment for hair growth, raised a $120=
 million Series B co-led by <a href=3D"https://url6380.news.pitchbook.com/u=
ni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXNCbdqBn=
V7NKFFJkaXsOppBT7SyvRlNyDoXA-2ForTXg9A-3D-3Dsjqh_Pr966knuaHmaw6c7pKvB-2BCEi=
Dnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPS=
DZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCz=
oRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOe=
C0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRL9kizf6tDkTsYS=
Sn1LbvyfkRjQ0yO-2BtMKcavxyyqeTvd4aXa8funzcGWKMffo3ZGrEE3vhybLNI1ubTWrK-2BCZ=
Co-2FseiPz6LYA4NdcqH262BXTaRR1uFqtQbSkTeZHpX-2BvW5ZgiUdzBAdRi-2F9lvd0Whoh8a=
a2EhxYJSBq-2BTZt91VCEPDBD0pQUGOHXp9aFr21NbJIHd8d2-2Ff-2BC2NcqwJK-2BjRVpsy6V=
oaUhienoGAiFuw0QnNURp1t3jFKoUbce3P5g-3D" style=3D"color: #1D5080;" test=3D"=
" universal=3D"true">Arch Venture Partners</a> and <a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzXNCbdqBnV7NKFFJkaXsOpp8htOtDOM2wJjm0TtVtFpJA-3D-3DSmFG_Pr966=
knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsY=
GPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4=
oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8=
G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzK=
ryJt5VRLm08iIYBJXZ04FN-2F2weybfGwMD0ZXcnISPPzSH581UoGGijzqacuPS-2BuJTaLQZsm=
JU8QSEWVwE9faQTqwAJW14-2BEJ6jH8vbME3ztyW-2Bo-2Bd8KbyLt6H3axomArOBDwreBcxxtR=
2a-2BbaKF8kejitrHEYRKovUV4xWegtA-2BjYVeXtc5tySO-2F1eTLJiGzIB5CIoKBjXZuWJcYx=
mT28ZM2TCTRXcogW3qxWpNQDMwnl22Wq8Fu56-2FQ8zm0dJX3S5bkbUQc-3D" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">GV</a>.<br><br>
                               Ecommerce payments company <b><a href=3D"htt=
ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW=
Irf6GFa-2BaqM7ONnvsnswouzXNCbdqBnV7NKFFJkaXsOpp7zkhy2Ej6VQR3f4iWp96Ug-3D-3D=
lvet_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2S=
MAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTp=
LTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ=
9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBn=
JNsfO8fHzKryJt5VRLBK02-2FHJdlrhHok6twMIB0RhCDD3-2Fqb3bqqjbN-2BD1g5v7b8STpcd=
ZiWpp-2F7Lhj1RUDYEkgaSi1E2DoaNwl-2Bn5EBR3NCH4aiMjiUnA-2BfhZm-2F2Q9mM4sSO1L4=
2jyupATWqIto-2BgyQTAts60YX1uENaCcOn5yAWVK2swogpq9Vl2aVTIDZrIBq8CAt7eDeKHnSG=
agMo2rKwPrXzZiMPALGm-2BK3cKRN7egjIv5sPmX9iFjOSAVd70Ne9SbMSqOKJ0sFgc-3D" sty=
le=3D"color: #1D5080;" test=3D"" universal=3D"true">Basis Theory</a></b> se=
cured a $33 million Series B led by <a href=3D"https://url6380.news.pitchbo=
ok.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouz=
XNCbdqBnV7NKFFJkaXsOppqs2U9McmF5fnSlb1f72XqQ-3D-3DkPNH_Pr966knuaHmaw6c7pKvB=
-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZ=
yAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2=
BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP=
3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRID0PybV8=
cIgWXST6RdelciQbuPlDZ0p7uQbIHvdWW3NhWBdTPBvwf1m4lK1QncSFW9aEAGjjvFyJAVuERyO=
dWec8snc4HjBW8c2mNf3UuXlqv-2FNp-2F6JU76ZKfiCTahWyA2Rzap78D-2Bd6u1Ua1eE8L4FC=
NekLYmasTbnHUi-2FR1kLWbQ0FqzbGirxLpTT21J8iOBXETn68v9YqcciaR1qY8cnCVHrGl5Mf-=
2BCnXWECfig0TBpMx2MgoQYY-2FcnypttYfk-3D" style=3D"color: #1D5080;" test=3D"=
" universal=3D"true">Costanoa</a>.<br><br><b><a href=3D"https://url6380.new=
s.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON=
nvsnswouzXNCbdqBnV7NKFFJkaXsOpp0A1eMg89ll-2FAjfZosdeH1Q-3D-3DGTqb_Pr966knua=
Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSn=
xPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCU=
lR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn=
-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt=
5VRKsj9Yej0p1HM0cEpo-2B9EDJ-2BquBh-2B5x4YCKrNnZn-2FMut7WVpRE5T-2BsgiBfqoR4Y=
z0i5wHzvMs-2FAcAMu5DSGLTs08w3iujnJ1OQlnFgxwIqeOP0V45XezbaLVK9liaptf-2FriI1E=
kYaGm3zc9jT0w2ihViBEvs-2F1sxHBelwJug-2Bbqqd3GPN-2BAEkm1Aue-2FErCLOhzxVmmTv8=
kHWiUVA8GAAl6Jh0DLkoCQRS0CzH50Rgxj6RIHUtYc6tf6d7ThA0b53jg-3D" style=3D"colo=
r: #1D5080;" test=3D"" universal=3D"true">Prisma Photonics</a></b>, an Isra=
el-based optical fiber sensing specialist, raised a $30 million round led b=
y <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n=
73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXNCbdqBnV7NKFFJkaXsOppsykkccMDqXr5=
OiocsyR5qg-3D-3DEW_R_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k=
bMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2=
hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2Aoe=
XM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0k=
zu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRJk0aQA4Emnc-2FhdmZ4Nbg-2BFoCOa-2FCzLzLiPoI=
47BVOAF8GF4pbDJxl0-2BtbETw67JzkZamchxBCCUXhzcY-2BLTlpRcUlcsi-2BN2KrN0WTX-2F=
dIoF-2FJAtiW91Q2XBiKLEd7gff4cpRrb-2FNIgvJm6j2IuYxLd5IgjwPxSrYmla4bbc9DyCX23=
OQp3g3v4aUN5mg3BhH3o8i5r2MfAXS6u5u1KHSwpV0GZvyzqh77pbL634rqSEu5EdRYW8LEC-2B=
65YxvAQMyw-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Prote=
go Ventures.</a><br><br>
                               UK-based biotech startup <b><a href=3D"https=
://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr=
f6GFa-2BaqM7ONnvsnswouzWnW99IeutrRGSycd-2BRtn31Lt1xzTHzN-2FoW53jtHV0yFg-3D-=
3Dk86f_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR=
2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7m=
TpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyj=
XZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUza=
BnJNsfO8fHzKryJt5VRKew2VQ4pUHcB04JKbkPOREk3Wdktp38wVP7seiY10JLf4ARZz81UunA7=
405q3V7lYDp9n9Xw67uKdCQ5het3jIqxPLAqiHYUDarbNUmgY6-2B27xe-2F657MBpQYDg-2Bl8=
nnGdyupckGasdNCF29WaC3UTz0nKB3DGc3qacpY4BqVNtZ3JohSSlERXiMKk1lgMy3Uv2IF8kaH=
4ChvdVZCgce1nba8una7HMyE63v-2FRWRAePvcwGRmn8zir27C-2FW2pz2M9I-3D" style=3D"=
color: #1D5080;" test=3D"" universal=3D"true">Mission Therapeutics</a></b> =
raised $13.3 million in a round led by existing investors.</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">&nbsp;</td>
                </tr>
                <tr>
                 <td style=3D"padding: 0;">
                  <table lang=3D"x-news-group-header" cellpadding=3D"0" cel=
lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;=
 min-width: 100%;">
                   <tbody>
                    <tr>
                     <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo=
nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa=
cing: 1.5px;
                    color: black; font-weight: 800; font-size: 16px; text-a=
lign: left;"><span>PE Deals</span></td>
                     <td style=3D"min-width: 20px; width: 20px;">&nbsp;</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">Artifi=
cial Intelligence Infrastructure Partnership, <a href=3D"https://url6380.ne=
ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O=
NnvsnswouzWnW99IeutrRGSycd-2BRtn31gvqIioOlhSRfBxABjZ6WIw-3D-3D8mXR_Pr966knu=
aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPS=
nxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqC=
UlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1W=
n-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJ=
t5VRIqMeKcZnMEoNGGD2einWVnEZ2Wx3O1FERyWLpCwfHhH0q1w-2BVTKevPPE7LjQYN5kCFlLK=
ROp6BbS-2BjYjkQEx1D11u458K3GjhSqU-2BWGfVw5h22S1JYFgt70J5Vp-2BUf44X7uW7eLmyJ=
62PkVe5MhFVYaX5D2jztSBMCEgY9aVOcdmHBAKA0AeNf7-2BpGxvuAzMkdovZksCIo7NZ4psyf-=
2FlNDIRCL6ORolUd769faMzVHBmSGujwdYR-2FNmesJKc4YJws-3D" style=3D"color: #1D5=
080;" test=3D"" universal=3D"true">MGX</a> and BlackRock's <a href=3D"https=
://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr=
f6GFa-2BaqM7ONnvsnswouzWnW99IeutrRGSycd-2BRtn31uAiL6slPm2WfufuLjhhm9Q-3D-3D=
dC_P_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2S=
MAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTp=
LTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ=
9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBn=
JNsfO8fHzKryJt5VRI3ZUv28HflALvAWPSGDrkSUk8KhwJF9FU7Ctsfmjr7TyknQLXrje8RNhEl=
eoXcPn8sGNM-2BRfszdc-2BPyUi6NRNBarVD9q8q1ZQE16IUNf38nksr0y0smDIp8LSz5SEgfl6=
-2FC-2BTBFTOaXN9FzX6Av5OV2dIjnI-2Fyxbm2KeMVU9jLzJAVv-2FLQKk6hMocOnjjdrgP5zQ=
M84WHDKLYceMrTkR9wADw6UygWz3j2FxWJoMlb4FtjOEqliDeJ9Mr8h1DiK04-3D" style=3D"=
color: #1D5080;" test=3D"" universal=3D"true">GIP</a> will acquire <b><a hr=
ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C=
uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWnW99IeutrRGSycd-2BRtn31rGVqZzz2PHOFRosYW=
V7ZWw-3D-3DJ6Nd_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf=
8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9=
if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQ=
KwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka=
1JV7OMUzaBnJNsfO8fHzKryJt5VRIWSkb3L1EDhphnd-2BgM-2FjLIqNn23lQsv34Lvo7ld-2Bw=
z0gJGC5XSwA7EXLyv-2FpzBCrjmXnr7tIMcDVgFObCiiUWtj5e2R7ZUAUBEThB-2FtQmzzko3bT=
sCIoqmeOlvR1cMkB6ecQ0qd7s4g3F0fuuylAtamVnkvQpUft9LPMMfhJTI5aKMBs-2F1-2B56en=
0ZMnhQDVEc7fec7VAib7LW2yZK8jortEZQbOLroa47lkGLBANUrcCt95wZQCNPTfEplm-2BVQon=
Y-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Aligned Data C=
enters</a></b> from <a href=3D"https://url6380.news.pitchbook.com/uni/ls/cl=
ick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWnW99IeutrRGSycd=
-2BRtn31ZffCZi2pkeKIK5tPyVVOig-3D-3DNuo4_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJ=
YL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3=
r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1=
xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2=
B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRIpRY0V-2Fc46VpfHW2uZ5l=
7DFscCbU0HG0J03LSZcGyhZfL5QJGUk1aGZgYS7g6qMU-2BMvCSX6WQBg9vWXxrNpH21ZrKonrR=
nmU9S0xzuuVdBKgQfytkEHEXnHAlq0NzXkqBlkCDM2PoW3hyFkX31sgvcqeqdHFM5Et1yiBoFmO=
XMf7zc32HoOaWXp3qoBJpWDm2FnGAWn2Z9pa-2Fz-2FJwLtsCtsnamgS7VBFrztlfWvHrw68h5k=
tY8TKPtONJujUAXYNM-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"tru=
e">Macquarie Asset Management</a> and its co-investment partners in a deal =
valuing the company at $40=E2=80=AFbillion.<br><br><a href=3D"https://url63=
80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B=
aqM7ONnvsnswouzWnW99IeutrRGSycd-2BRtn31uJBxlKAuu96SuJSy9ZO9Og-3D-3D3JUk_Pr9=
66knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORj=
sYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDs=
T4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcuke=
m8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fH=
zKryJt5VRJqvpsLTluVgWn-2B8WQLVVCbOAYtnfVv4TLtG15zZKdjo1ZCEWS2HOqKzcug4eOQSw=
DX1gylxQ79ixvc1zaFeQ1Mg3kGQo5KxrLcHegLn3djuKXLBiSsgT6l1vPeEXYkB-2B59SWscZZT=
DSgk5hZR4Y9lxrirPRz-2FDYxr2tunCoSa4XiCdwu65RIpSHEL6v7XYeIPAVW7gfSfzXAUeI1KD=
RD6MDdozpv7U53N3-2BwzpYDATX1QGJcYoHMvJIO4lbyJAgZs-3D" style=3D"color: #1D50=
80;" test=3D"" universal=3D"true">Mousse Partners</a>, the family office of=
 the Chanel=E2=80=91owning Wertheimer family, is acquiring a stake in <b><a=
 href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73Br=
X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWnW99IeutrRGSycd-2BRtn31QvQWj0Qi8ZNjPm=
xkjDdcHQ-3D-3D0sFP_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM=
cVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hm=
nY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM=
2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu=
2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRI-2FsisOHNc7OthA0OBh99yKPeMo9FQpb3JuS27uMgJW=
7UFG53GYrpRZLJtQMRuDV2XQGCCxgNfMuVj87iNPFSY3QoBMFYEYIv8wZgut-2BMKOBmDsGNV-2=
BwI7-2F3ZBQyTsaz3mQfbNGK-2Ffs6mI9OF4DCzLy2NCtj3jCmem0LY7xVUI4MjwmVmMDWg1vYg=
xu8RvGISAmLHEEv0jCv3ppPL7m5d-2FgE27vdIWcnn-2Bh6Yq-2BhhwOQXdMuHB0rrK8vUlg5GN=
grIU-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Rockefeller=
 Capital Management</a></b>, valuing the firm at $6.6=E2=80=AFbillion.<br><=
br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4=
n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWnW99IeutrRGSycd-2BRtn31zhmt9aMFt=
Dqj1NEhCXoBaA-3D-3DRTLl_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI=
43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2B=
YO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2=
AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIl=
J0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRKy6BA9XtntPF5jVnKiJ6Sx1VAZztxZ5GucCsPtg=
JS1dobaGAHYuSWT4JvUnbF4aF5Jt8VaEBwMDDhcjPNXhYJkPr2ukbxbiRULD44a8vK7S62Z4jaj=
U6NuHztBgICf0VF2xKIQS1mb7MmYwrTOZ34Kcr4LJIBOlVwnfW52Fioie8CUDAXk-2BJrucnLej=
nkOK8WPY4tYBAKOAfpsMHX5sx0DctyYHNdRwBoZsVJ0LlmQYsGeBTnpHxaFdE95Z0IgrDw-3D" =
style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lee Equity Partners<=
/a> made a $1.6 billion reinvestment in <b><a href=3D"https://url6380.news.=
pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv=
snswouzWnW99IeutrRGSycd-2BRtn31utkFd6QMdak-2BIX7GoQUXfw-3D-3DQj8n_Pr966knua=
Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSn=
xPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCU=
lR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn=
-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt=
5VRLp6SjJrig5cXuVKroJR54GMyiBzpja4GBpar4KmEd-2BL1J1fbrYSe4vbZNPqH666gZDLyky=
IoXIT-2FEVt2ayCUJwEcAKPmZHXoAhRTkQB7b0L-2BkQ-2Bm5v1vQi6kKwwv5m0EnMGgpUSIIid=
R8JefnbYXndpXAMW9LBnwfd7CF1C7si5qYJpj9lI8c2eXTBalquKSrnpxix1rmVvFGVYhvIUFY5=
8aYX-2FIGteZABcSlAmj80tYGFadHztpZLxckCpxXprx8-3D" style=3D"color: #1D5080;"=
 test=3D"" universal=3D"true">McLarens Global</a></b>, a Georgia-based insu=
rance claims adjuster.<br><br><b>Bond</b>, a fractional aviation company, s=
ecured $320 million in a financing package combining preferred equity and d=
ebt from <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du=
001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWnW99IeutrRGSycd-2BRtn31gMJ=
EwqJseTndTUKojGCAHA-3D-3DvbYM_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR=
4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe=
5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMl=
ALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7C=
G-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRLIKiIso6B9UhJessZ1YCbZArBBGNPSmUu=
m-2BcRo2fxgSPaZlrlhz5Ty7ayvpdbLlZYPCPmIEHwUWsXsHM3VPhF3e1wCjeVLE65XajbWT2zf=
dBcIiQbXjszo3wDyPVEIFwWLrdpyklUvb5KxkTr8U7k4bLzcOZcWVE8m-2BHfzl9XO6dkCwtRoP=
a1wAdtG3qouJ3mvixRTGybTqA6W-2FMG6Jr5vyon0r4-2FcfhM10-2BtJlGMRKG7f6EXSdXE0Fy=
f2fhqH1Nk-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">KKR</a=
>, including $30 million in equity from select founding partners.<br><br><a=
 href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73Br=
X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUfR3Xzm6-2FS84r9VXXJZ5gjFP5QwLAcntNC9Y=
PqQbz8dg-3D-3D4Oz1_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM=
cVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hm=
nY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM=
2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu=
2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRLrp-2F0QfQ4RKTaXYyAl0AYObpB1aqEyDbsew8OYtbj6=
6BGwJHYe5-2BnsKf-2BQVjRo-2BSelp-2FrxYndCEpTaPnPIOfvy4TvPSm8IrCv6Ez0kBnqV2tx=
nrywSqLP2Ywx50-2B-2BWwU3D3-2FE6tCWgv4Ed1QEPTVf3Nk-2FkYA15pKQul0of8cJG6WeKzL=
gXNqMy7IGIwBZtuC9bmtCZlzkSuacl9QaybqQVXZ7DGTfjaKq6Xyd3fBSIt6TbpGNieB47vbOSt=
g4v17c-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Apollo Gl=
obal Management</a> submitted a new offer to take pizza chain <b><a href=3D=
"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7=
SpSWIrf6GFa-2BaqM7ONnvsnswouzUfR3Xzm6-2FS84r9VXXJZ5gjs4fTu-2FHnHM9izlRP34Hh=
gQ-3D-3Dx-lZ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UY=
A68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if7=
8FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwp=
HWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV=
7OMUzaBnJNsfO8fHzKryJt5VRJkmMqe8TIMPtqEoJ76zsQy7DpzNcansXwEuIDGo3doxPMiFJeG=
FD2TZK2UNl0FVOwIe-2BpWJlIQHtqOcYDb7uFFPp0sGTkZuGj4vhkH4g38npbLjaUKhIPrMYejq=
A4OszWV-2Bk6R0-2B6e05jsRCzc9MglqFRetkc-2B-2FHxkI-2B-2F-2Fv45NCptypdFslY-2FO=
3B0PEEk3RrMFQ4GkVu8MUqId9UTXtHUYtq-2BlCWgsnJNl7x3xpecrc3roRUGp8e6nift6QgTxA=
Wo-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Papa John's I=
nternational</a></b> private at $64 per share, Reuters reported.<br><br><b>=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73=
BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUfR3Xzm6-2FS84r9VXXJZ5gj1mqU5md-2BIv=
IsBCGHTs6Sxg-3D-3DDnXf_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI4=
3kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BY=
O2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2A=
oeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ=
0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRL252gj2eDyJEr60aYAr-2FzzIs6tGrIOr-2BNM1z=
4rP9Kq-2BW6mILNeqWuPjWKA9zU129IZZXVeGedD-2BrEQDAGw66KfGzQBgOyHMMnqcRZlxSXUI=
sjov8FFVVSQVs2Bq6jlraw-2FACj-2F-2FjVEksrKHzLfrU7zh-2BMCBOpDqZZ0JbvSZ4SZnQBe=
dT8k-2BjhU2z8t17HVhWIzPBGFVA10WYKavTJDyYzW80vDfmd9iOup-2BMVuzfgewxtwgiwcIFW=
b-2F-2FYRCXBvYok-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"=
>TrustArc</a></b> has been acquired by <a href=3D"https://url6380.news.pitc=
hbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnsw=
ouzUfR3Xzm6-2FS84r9VXXJZ5gjzQc3WvbCl8Y9FFhywtltnA-3D-3DPwy4_Pr966knuaHmaw6c=
7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6Fu=
potdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUp=
WsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2=
xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRIG4=
40-2Bwb7XJpcqNAN7ZRoKYGCjHQ6KbrNLBPAFNFOpp86JIZ03-2BmbkZ1YerheIsapI7p5yCjvl=
t3fjv1mG8pIffo-2FrqxDBNvDSUF5qQ-2F3HxA-2Bwqfo36KmyHH6QibaW-2FpIJoHhV1rWs-2F=
QCCx4lV-2BDptYTux15kE9R-2FPHT-2BSMT0BCaJLKBklA0zmbNTU00-2B0WzvGqUK1H6w6Bd1Y=
WGOqtV9M9ymvVSVnCdcjhYUDxQ0JbcuIrt6cjfgg645G31Z5vJY-3D" style=3D"color: #1D=
5080;" test=3D"" universal=3D"true">Main Capital Partners</a>, marking the =
next step in its expansion in Europe and India.<br><br><a href=3D"https://u=
rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF=
a-2BaqM7ONnvsnswouzUfR3Xzm6-2FS84r9VXXJZ5gjWgAJyNtMKJfRiZMzwSMzfQ-3D-3Dkk0h=
_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMq=
YORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyA=
xcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6F=
cukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsf=
O8fHzKryJt5VRJJKf6Y-2F1rtkx-2B0ZX15a1HViz0jljRPSxE-2F8NEVOc7FlTWW7KFz9935lo=
LpPsj72zuJxKO-2F7tfH7Yyu4wIqwj3sguYPXb14YdNFZb9N-2B2M025Kch94QbDphJwSKbABFX=
Hua-2BOhwxZCeAQrVo2c7jYHPGziq5LQ3esqhPLb4hScqbJIFeeQVnThYgR-2FJ5-2BI2X7hMPw=
rVpcK9YQXq9YD1ttvAouNrrAsRvbQ6iuwOYgoyBbY5WFECTpQARy2h5okMA6k-3D" style=3D"=
color: #1D5080;" test=3D"" universal=3D"true">Oakley Capital</a> invested i=
n <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.=
d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUfR3Xzm6-2FS84r9VXXJZ5gjbBgnhpN=
Jd-2Ftae-2BNw-2BDhomg-3D-3DPxFV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B=
HR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7=
fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7Oe=
MlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU=
7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRK2-2Bb-2Bgw0FWvuYwSMEF4PkpGPtZS=
VJTFcGkZ1Xn6-2BpVeZlFprG5NHe21ESbtwSxsGZ2Fy-2Bin5VDXyp43yfyMiqHPgVZ5Rjty-2B=
zt9FQ3WwI-2FOtYMMmDIaugkqmZYW3-2F9v6YjRAmFsul2isFmeH4NZR-2BX4c6vRunMq2SiiMQ=
cTE4o3r6xh6jPB1BnQ23fxyLO7zw07vyd0rSEhUGblakV5TEH7On-2BuJoXSR5wPL-2FB0BA2SI=
Fp59yoG7WJdPW2slu-2BUq0-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">Nox</a></b>, a Barcelona-based padel equipment brand.<br><br><a h=
ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4=
Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUfR3Xzm6-2FS84r9VXXJZ5gj5ErWta3HnkBQW5Zg=
k6JpEw-3D-3Dgp1F_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcV=
f8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY=
9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2Z=
QKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2k=
a1JV7OMUzaBnJNsfO8fHzKryJt5VRJgSGHKjZ5s1fYsIN46EWRuyFu9sMJKwPzsEUxFvzn-2BoJ=
ijsTxkabnV1Q7gdmktNlpKGvvyolzsUmCoN-2F5fbxgEP0236OkYVcMpv8sGoa2BdRolL2I-2FP=
uXDos-2Bs-2FrOtUz-2BwFKdKSm5jPyxkToTr-2BXpmlBKcYmiIDGGCm6JqqEZYelyUj-2Br99h=
ColbrORrx23DLx5bEhfWqC2BUubHxw-2B-2Bkjo3ARYllPPNxk5OdOdWmoH758z96wYbvY-2BHM=
4U-2B-2FR2s4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Kha=
ris Capital</a> invested in <b><a href=3D"https://url6380.news.pitchbook.co=
m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUfR3X=
zm6-2FS84r9VXXJZ5gjTZIWpN3es-2BPxAk3EQXtKuQ-3D-3DJMjf_Pr966knuaHmaw6c7pKvB-=
2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZy=
AyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2B=
SJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3=
tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRJjl-2F5zK=
HdqQyqZ0xfcW0QfIHEfBLwkXixLtrUqjhyQNF8blPwOH8J8nZIo-2BSuAwwaB0yd-2B5rcYtpjp=
ceSbeIJKolbqRq4fMuLxIu0emsVkvBHoW5y3RcWrf8sNLMthwbwFF8wwXebTP3NqhXIZI2t6aV0=
ZA-2FURMWLlwVpo3AMqwjMO8bzXZ-2BOfncCbOLzNkCH0RxQ0Vr0p8zm5SIUJ02XSnUnx1QZB-2=
FGFTxTd2xCZQgl-2FQFFlD8CdidMG6gDuVwCg-3D" style=3D"color: #1D5080;" test=3D=
"" universal=3D"true">Foodmaker</a></b>, a Belgium-based ready-to-eat food =
provider.<br><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click=
?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUfR3Xzm6-2FS84r9VXX=
JZ5gjpDloau5ypFxiIHMikg-2F-2B4g-3D-3D5EGU_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uwl=
JYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp=
3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf=
1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-=
2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRIUhTlEGQi9nILEOzdVNAM=
LDsLaejfUhO2c3mb8BKJ1MOtHx0Eq3JOnKBP61SAnQxYJkR9rYM-2FhHOkLda91yLRbo-2Fs72W=
zhXoYZinCIMOuehERyMCoemiVFNxRGc7lwVTM3Kx6CikPB0xfWAFJbDdbk5T2NFjfqEQz3Z0Lzq=
pL5dNpgsimtj-2Fr9mD0vvTLsy76v5b6AdT15wFG83yqSbREyKs-2BaGDX-2BHDqNJ5aOL0Og44=
d0Iwej3U-2FhJA-2BD9Chp9hM-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">Advent International</a> acquired Swiss wireless communications p=
rovider <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=
=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUfR3Xzm6-2FS84r9VXXJZ5g=
j0owGb1Mv3pXEA9JaWSPA3w-3D-3DKfP9_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-=
2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXH=
h7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7=
OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3=
lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRKwskBo06dAaP5MZSXovcdQ5P2R5Me=
hKAh8KACck-2FMkYAyAUb7Tdw5WxXOE8c050QnMamaJR3qkcejzZkOjU-2F7l-2FwfZxM1brHCi=
IwzgnLCxP2EX0XcBlzLsegx9LGNJ9Lnqc8XubVpxojPP9VNtW1mO940h3PALyujr3eq5kW3A7Bg=
WZ7UV44aSqJVjFNJfBwqyRimj7QJurAxr6xtbGj7zj7UEwIk3ejXGHLUS63BiSYE5uwh5vgba-2=
BYguITrtZB4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">U-bl=
ox</a></b>.<br><br><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli=
ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVHcGXxErMdZQr-2BV=
r9i2X4pptfTcP03W7sPIcL2N4hwHg-3D-3D2vnq_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJY=
L0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r=
4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1x=
j8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B=
7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRKwNudPX24pUZGkQzgGkA8ta=
qA2NyXGd5xyTuomZSn9xuJIHi6CMBsLhhBApw8NajADwWtCzspZftJBBbebT4lpfF-2BLerVG1T=
NR3QW5u6czfast3uVmYybsoZguvA6wxvULc-2FnzPMTyGkoncUNPAZC30hZvjG5TeQvDUG-2B1-=
2Ft-2FZNjC-2FxCjssjaYUESEnB0c2nwC06hogvQNI6GkQmQ5LIXUnJKbbeUROFmzvuLLj-2BVm=
gDBjz02wfPGqUv48fv2fdvg-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">LDC</a> invested in UK marketing agency <b><a href=3D"https://url=
6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-=
2BaqM7ONnvsnswouzVHcGXxErMdZQr-2BVr9i2X4plN0JsBPzAcvdRmXwJg9-2BgQ-3D-3D1jae=
_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMq=
YORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyA=
xcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6F=
cukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsf=
O8fHzKryJt5VRJadQAdzRDJlYch8cWxslkQ2NojBZQA8ccSSiYdXQbEauUSeAUP0Klahc5YYlXa=
hzjzjYSNfWiV4-2FC9RW9i9cO0oGJ5GuiOLbDhrOt3w-2Fm53OdWHYxp9Kw5GXNiHYyl1r2E3KO=
d7HKb7Pj1ESOstTQR2TgF5l7RHH3FPjKArBv4VXDWJIJTwBYX8XbiJ0tAmMJi8ZM6-2BNk8V2aF=
rOuToS69sHRysq4lpHDvFxhh3lAKuo-2BrAeuskHTHJ27fFmpZwTI-3D" style=3D"color: #=
1D5080;" test=3D"" universal=3D"true">Shoptimised</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">&nbsp;</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;">&nbsp;</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"><a hre=
f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu=
ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVHcGXxErMdZQr-2BVr9i2X4p-2B49bSMqqgk-2F79H=
vJdpmUag-3D-3D6Hdo_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM=
cVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hm=
nY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM=
2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu=
2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRJO03-2BALvbJqiSbBPW2b8Z3ZnTFSmHc1PRbPgcJHzle=
aQ25hbvLq7BydFe6-2FGW-2Fk80wJUgzasFx-2BsYrVijpUcaffE3Fu5AHi7zW08ZNOqlz3XWuq=
JjFGMzsjN7lTvsxccZrEthe5iPTeM5jQYJiW8q6rlkB9Sf-2BhOjqsqjSgzgh-2Bndus35gytA8=
-2BZl-2FbRJw4S6yiRcTUBKxm4Hct-2FoP365cxn4I2kbq-2FqAvy5nM37L0cPGcxPuZQaKViLs=
2hv1UlWI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Motive =
Partners</a> exited <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls=
/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVHcGXxErMdZQr=
-2BVr9i2X4plMpfy-2FJSkBKuchpqwAWcxw-3D-3Dbyb5_Pr966knuaHmaw6c7pKvB-2BCEiDnj=
5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg=
8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq=
76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0o=
Ogj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRKm2Mn0Fu7tOL9dVcb=
G-2BY17j7IUSO7mHXAYQVpIKAC57nZSozhK0Fu9BT1JwzdVE7-2BcyIUbHndM04IveBFlCeTvdJ=
Mtxo2Ri79yohQUItpksCdXd-2FXY3gZTAMoFTqczhgfMIHn8UFXSU9fzJCZe1soXM9fhYQgE-2B=
Oq-2FtpHIEN6a77KxdzZg3WiqXZoQxu3O7bf7DC85b4Scm8S7dT-2Bq7tn4x6cCXh99hfK5vpIb=
bvnNBDd-2BTMqLo-2BhRREGyOM-2BPohQ-3D" style=3D"color: #1D5080;" test=3D"" u=
niversal=3D"true">With Intelligence</a></b>, a UK-based private markets dat=
a provider, through a $1.8 billion sale to <a href=3D"https://url6380.news.=
pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv=
snswouzVHcGXxErMdZQr-2BVr9i2X4pfn-2B-2BnIMEL4RfCdsOph8YzQ-3D-3DNcPa_Pr966kn=
uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGP=
SnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oq=
CUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1=
Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKry=
Jt5VRLMWheF2D6ygaR99x5rAE0AIOwHJuZ3XE9woxM5ooCJZz6vrd0TmMw3zczJsBCNdvd1sl5f=
4xCSvv5u-2FnH-2Fi9nwB2Af1dB5CudHub8rVPKueLjGzHfkODbgY-2FtxaQjAXnFnqiL9wurNl=
2XBVgl8cgCkVfIA5JvAAO7NXts2Z2AowJLHF3GYUY2QPbSQgsdcPKnM2ivZ5-2FrDy5Y-2BcHxK=
hPeSmjWM6gUbrhlKZaHmfKeK-2F7WOp3wB1Vh5f0OPZ-2BQojBI-3D" style=3D"color: #1D=
5080;" test=3D"" universal=3D"true">S&amp;P Global</a>.<br><br><a href=3D"h=
ttps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7Sp=
SWIrf6GFa-2BaqM7ONnvsnswouzVHcGXxErMdZQr-2BVr9i2X4pHg9NmN3U4Gh8d5btNEKnAw-3=
D-3DKynM_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N=
VR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR=
7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCu=
yjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMU=
zaBnJNsfO8fHzKryJt5VRIoPjF0siDIMzp4vo98l2Tp2CZxr9eZH5iAdpbTeTKK2T0fksWDzXtd=
MNsZ-2FvHYIt5IAn9qfveKatTz9RKfu7MVOaHtwlfo0-2FY5Ov-2FgroaaK11MLAFpHBxDCQqLK=
8Oh1ZujQYJ4ydRo1-2BWzh297YwWeSMBqId-2BWicX77XFbRooyeH4otT2yYEmeGUXpisHT7yx1=
HpCLjQIUJV-2Fgu0r-2B4Ku6bJF8-2FXtRwkxGQ-2BKcJT-2FJQQyYWkML8huZ2vGm2D66PjE-3=
D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Tata Consultancy =
Services</a> agreed to acquire PE-backed <b><a href=3D"https://url6380.news=
.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn=
vsnswouzVHcGXxErMdZQr-2BVr9i2X4pd6R39GBg7IH-2B173plpJzbg-3D-3DTmh7_Pr966knu=
aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPS=
nxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqC=
UlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1W=
n-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJ=
t5VRJ5a99Vk55nSNkeTCz-2FukEgA-2FA2KQReZAHu4ecbnAadaexfpYZQSiBgIp8jscjU19Gsl=
NPFyVu8tq0AhaLY29IRCKTfDkiyOdDxebvossPqNAjsik-2BpWmI0sC-2FTnsNtQNsA72ncOoMA=
-2Bs-2F6Zb8XtZueudyEvWnwiAZSTWH3KFQ-2Be-2BJ0zCJHlUTquqOMH40P1GMUK-2FZADV0Zd=
yRaSVB-2Fho-2BU3xXOq8mjcjQY4kH1khPRp-2BzetDGmJEHtx2-2FPcXuumhs-3D" style=3D=
"color: #1D5080;" test=3D"" universal=3D"true">ListEngage</a></b>, a Salesf=
orce consultancy, for $72.8=E2=80=AFmillion.<br><br><a href=3D"https://url6=
380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2=
BaqM7ONnvsnswouzVHcGXxErMdZQr-2BVr9i2X4prQx-2F5MU7K3ta0sDAWCdi3A-3D-3DYryk_=
Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqY=
ORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAx=
cDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fc=
ukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO=
8fHzKryJt5VRLiRgetS1xcfvxdNrfLobowsoE-2FWWCbgaqaimZObAYllgRR2AbFDqpSEg7YXTg=
S2L5Xd8bwzTiqg8MoWz5f-2BXICI9XSHHug3DjBb88TKm8k2PBaQtXUirewY91JNiuIQytodhG7=
RyxO-2FFifeCGexS-2BQw-2Fd6YGUsQ-2BNDNAVcfJQ9ermIyme-2Fnq5mxfrwIR60mbsaxYMb3=
d0Jx27Y6G10XsonCP98ikCA6vMrrLX0tEbgXorfbmpoMUtpMVKAeWSfey8-3D" style=3D"col=
or: #1D5080;" test=3D"" universal=3D"true">IBM</a> agreed to acquire PE-bac=
ked <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00=
1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVHcGXxErMdZQr-2BVr9i2X4p7-2Fp=
hEGVs2YInwnp-2Feh6IeQ-3D-3DoNvw_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B=
HR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7=
fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7Oe=
MlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU=
7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRLO5XB4yNR06xssQ4uuj-2FcLJ80mdhe=
z78cPY-2FNsTOe9vjRcb7oAGVkfNbv-2Bd2Uy80y6qZHg8dCrFU9Wy0gZkzugJTRpA9dP-2FOnl=
S2If-2BNuxnn52ug8GoLMNN030x63y2fcotA9mxTrEy-2BbVili7-2BMUxKCo-2BZTcXo45-2BH=
0tWWffkXyJ1EEwRzSf90jxdeQQyyfFKE0fL8oclZ4wkHqEAvzb0QwD-2FCjXo4vE-2BE2ZQLltW=
mv3mdVWck8CB2bMWmmjUGvE-3D" style=3D"color: #1D5080;" test=3D"" universal=
=3D"true">Cognitus</a></b>, a tech services specialist that helps businesse=
s modernize operations using AI-driven software.<br><br><a href=3D"https://=
url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G=
Fa-2BaqM7ONnvsnswouzVHcGXxErMdZQr-2BVr9i2X4pR1raV4X-2FGrMDfsPha65vTQ-3D-3DR=
vsm_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SM=
AMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpL=
TyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9=
F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJ=
NsfO8fHzKryJt5VRI0PAeunf3Q8GhZkUB9WRM77RKC7tPOCsWf4DvtTAOXrHlYkzXdv1-2F7DgS=
HVKwF1NnfOr94EXjUv52Gev5DoggsYCtgd14X7fU9rdRlucJ91aj8x94uacoEVjvRmeo1nQxqRL=
4iQQOZ-2F8x7sGZAzlwahGU72qj4nS2wJJ4N2RuXq82adJ2GX4x7D4rtEHhuHCaqGJsZPGO-2BM=
JaUPdfekMy7zWpDpMbwaCNfQe2bzMuue4Ny726j9TgB6-2BlxqumdJvM-3D" style=3D"color=
: #1D5080;" test=3D"" universal=3D"true">BGF</a> exited its investment in <=
b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n=
73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWmr1y5qoqNP14lPF9un3Fo1NFwjzRP0hJp=
OArAhQXusw-3D-3D0JHf_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43k=
bMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2=
hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2Aoe=
XM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0k=
zu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRKja4dnHhbEYF1CNuh0JsdZKiAFvh3UEnf1FX2vdJeL=
WFbdtS79jUtkFg-2FhK-2FHuXv8KhSYQhnWaty8JEsgTL8vGKgTwsc8f-2BIn-2BvWOacu5bad3=
JCIk2J63TexwNkyy12dcG8vC-2BiC4ClRSq7UM57D5ltIVnZDHzrH9kK9NWPdX3lj-2FJZKzVr-=
2BnxB1uh3r8BDOwvrIxzMjWJ3ses-2FUiTO4-2BHV4XDQhE14UQZCBFgGGBN6ZiISgqX6LIF3gF=
P2tEtSx8-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">BB7</a>=
</b>, a UK safety advisory specialist, through a sale to Munich-based <a hr=
ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C=
uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWmr1y5qoqNP14lPF9un3FoB002FMpV-2BXkkZ4sJf=
uXm0w-3D-3DOgU8_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf=
8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9=
if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQ=
KwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka=
1JV7OMUzaBnJNsfO8fHzKryJt5VRJMu2Fk5RvH3iT9HTUoSb7tkOd2zayctSrCj7JaTJYn7rQP0=
SlsDgWYSoh2zl0GyOI9s1Ig76fv2iPI1Tl9MQKRrtIc-2BVwhlmVKqAiEq1k662T62g-2B2S0SQ=
LW9Wv9qxe8IGsY2u5DTtYuHhsfQblejlIpY0RXZUVefCsv7o06BEKDqZDQALW6906xpiiZtEhOB=
wvNQCuPXOVgL4l4XQaOX8fVdQAdy0lPOO1LmEVg9x2-2BY0WS06GrcbsOrdMbv2CbI-3D" styl=
e=3D"color: #1D5080;" test=3D"" universal=3D"true">Certania</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">&nbsp;</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;">&nbsp;</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-2BaqM7ONnvsnswouzWmr1y5qoqNP14lPF9un3FoPMxtAZpaLHnWvYIA9=
hGG8g-3D-3DAuoo_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf=
8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9=
if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQ=
KwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka=
1JV7OMUzaBnJNsfO8fHzKryJt5VRKkszJeO-2BTA2bGvMTBjbUqLWPzamz1HA5pgb7tpTlU0R0m=
DD2X2IunAffyJ5KtXD67j3Sn4-2FDTKm503EFC5WjMIwnX0YV2fT4LclOnoq3ewO4kWhfleIQfb=
FrrwjX4D3JziEibMiGZfdmU6dIXM-2FEGQKOxP-2BvfL6dDOqpTfQbEa0LYse-2FA9vQpkvKR51=
6wVsT10EXwIieKn7wRy-2B-2B9iccQ7xkcaJjdzQFh4-2BKP-2BT5jlpgYOOjv9JK0lMRKAbf52=
NXA-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Shore Capita=
l Partners</a></b>, founded by billionaire <a href=3D"https://url6380.news.=
pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv=
snswouzWmr1y5qoqNP14lPF9un3Fo6NfMOAsdia0G8Ks1NxtT9Q-3D-3DbjWg_Pr966knuaHmaw=
6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6=
FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1n=
UpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FO=
i2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRK=
YNHGiJ9aynoRBG1Dps056QS7BXSTXrEAjxnnAMGaFjdpqlRwoc3JkGMVHh4yMl4XmhxJ9e9xmpk=
6jo24XN326TKVmqHr52yIZmePXm68cEoL9gHcjR1FCT0clWGIEnpHRNJnkujT4ZaalTta73AW-2=
B7kHjwecQJHZ2bbzhFOup7ZefgS0IHp-2Bg6HAXTRAD0z4moeHdw5M12uw4SY3TAqEzmOC-2FMn=
eANXSziUGt4K6liUFsvS2Nje6iFe4Wc6djYZk-3D" style=3D"color: #1D5080;" test=3D=
"" universal=3D"true">Justin Ishbia</a>, raised over $625 million for its s=
ixth healthcare fund and nearly $225 million for Search Fund II.<br><br><b>=
<a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73=
BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWmr1y5qoqNP14lPF9un3Foe3Gt0R5CYisG0e=
DKJb0mWg-3D-3DEkLQ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM=
cVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hm=
nY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM=
2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu=
2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRLzmI0L8p5RYQ0LSzzmALG4wPb-2BVqyaK-2Bed6dfNBg=
MXqzmjl6OUZzAJqEoHO3gkyam-2BovWCYRmvuK24vaKRP4d8RuyusQHmHm-2BD7AAEEz9WZwqqB=
oOgdX37YB-2FKGi3Gxk9ONUk5nnihDCld7FlfoQJ-2FfxalCVX6oMYatLt5lzdHH88sximqxzV7=
J00xJ6tQTkw95Q4Wyqhk-2BK7LpQW9s0obr5PSTK0aRx-2F9mEfm47wnZme6mJ0QVfncpbYSp0A=
VRBQ-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Town Hall V=
entures</a></b> has raised $440 million for its fourth flagship fund, which=
 will focus on AI and healthcare.</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">&nbsp;</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;">&nbsp;</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-2BaqM7ONnvsnswouzWmr1y5qoqNP14lPF9un3FobZ801hiTbDvXtCOMc=
zQdRA-3D-3DpKsD_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf=
8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9=
if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQ=
KwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka=
1JV7OMUzaBnJNsfO8fHzKryJt5VRJsQI7qvfhqQeLdzMUJGWPtxkwJ8Yv7xJRw6PNee1gTPeJAT=
-2Ft2LJTd-2F2DcrqYo2rJ16bONjka2efQ4HgdPzUCBqw51C92RFOMuAluudnZlLBvvmQ5NhSkk=
EjqdrnklmPgL3nA5gHstWJGiLqiit3S83vOhjXQMVfGMW7VgdQIWBqJYksSZ5tojJF1rWU3xV7O=
mjqOvLYFRJq3zHZdbhPZP7QozAfsloQNidDk0bjem8VXvE3gluncfPCOF2T7Cycg-3D" style=
=3D"color: #1D5080;" test=3D"" universal=3D"true">Blackstone</a></b> has es=
tablished a dedicated unit focused on expanding access to private markets f=
or retirement savers through defined contribution plans.<br><br>
                               Indonesian sovereign wealth fund <b><a href=
=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy=
lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWmr1y5qoqNP14lPF9un3FouTNdOu0zoNL2kPI8W23vp=
A-3D-3DM1vw_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA=
68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-2BYO2hmnY9if78=
FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALouq2AoeXM2ZQKwpH=
WCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2FIlJ0kzu2ka1JV7=
OMUzaBnJNsfO8fHzKryJt5VRJy-2BAclNAJ9MYiY58aR7LLW703uj5I9-2Bi9Z4pxFvB9s8jLjQ=
fSGsRxuQ-2B5zZ5qOGhlm7qKLlQIGe3RGxs06nmarAQAsqUyzlDrGeJmE6eX0UuvlKXvSHJNDDd=
xrg1Tu-2FtSGdhlcQvh0qlid-2BD0Q7fio8t0IVeztNC1KbW4MVTSF9bmqhGCGwp1Vdk1-2FwEv=
VpiI2x5RAiSdNPvQLN3HiiGrJ2F0L34cthmCkkKJdlgn0-2BmfLpLJMmrNqqv0PIrZm6eQ-3D" =
style=3D"color: #1D5080;" test=3D"" universal=3D"true">Danantara</a></b> wi=
ll start deploying capital before year-end, Bloomberg reported.</td>
                              </tr>
                              </tbody>
                              </table></td>
                            </tr>
                           </tbody>
                          </table></td>
                        </tr>
                        <tr>
                         <td style=3D"height: 6px; min-height: 6px; line-he=
ight: 6px; padding: 0; " colspan=3D"2"></td>
                        </tr>
                       </tbody>
                      </table></td>
                    </tr>
                   </tbody>
                  </table></td>
                </tr>
                <tr>
                 <td style=3D"height: 20px; min-height: 20px; line-height: =
20px; padding: 0;" colspan=3D"2">&nbsp;</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;">&nbsp;</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-2BaqM7ONnvsnswouzWmr1y5qoqNP14lPF9un3FoPqwm-2BSc=
d9rp4LPqerFARWA-3D-3DuDWN_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ=
VI43kbMcVf8UYA68NVR2SMAMqYORjsYGPSnxPh6FupotdZyAyRPSDZg8Vsp3r4OFhXHh7fe5oe-=
2BYO2hmnY9if78FOR7mTpLTyAxcDsT4oqCUlR1nUpWsZ-2BSJfCzoRq76sf1xj8Nuz7OeMlALou=
q2AoeXM2ZQKwpHWCuyjXZ9F6Fcukem8G1Wn-2FOi2xnmVP3tagOeC0oOgj-2B7TJMp3lU7CG-2F=
IlJ0kzu2ka1JV7OMUzaBnJNsfO8fHzKryJt5VRJvgErQ-2BP-2BaxwrCl003trHC6x7DB3-2Fbe=
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