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[URI: pitchbook.com] -0.0 SPF_PASS SPF: sender matches SPF record -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature 0.0 RCVD_IN_MSPIKE_BL Mailspike blocklisted 0.0 HTML_MESSAGE BODY: HTML included in message 0.1 MIME_HTML_ONLY BODY: Message only has text/html MIME parts 0.5 KAM_REALLYHUGEIMGSRC RAW: Spam with image tags with ridiculously huge http urls 0.0 LOTS_OF_MONEY Huge... sums of money X-Spam-Flag: NO <!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional //EN" "http://www= .w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns=3D"http://www.w3.org/1999/xhtml" xmlns:v=3D"urn:schemas-microso= ft-com:vml" xmlns:o=3D"urn:schemas-microsoft-com:office:office"> <head> <meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dutf-8"> <meta http-equiv=3D"X-UA-Compatible" content=3D"IE=3Dedge"> <meta name=3D"viewport" content=3D"width=3Ddevice-width, initial-scale=3D= 1.0"> <meta name=3D"x-apple-disable-message-reformatting"><!--[if gte mso 9]><x= ml> <o:OfficeDocumentSettings> <o:AllowPNG/> <o:PixelsPerInch>96</o:PixelsPerInch> </o:OfficeDocumentSettings> </xml><![endif]--> <title>PitchBook Newsletters</title><!--[if (gte mso 9)|(IE)]> <style type=3D"text/css"> table { border-collapse: collapse; } body,table tr,table td, div, a, span { font-family: Roboto, Arial, sans-serif !important; } </style> <![endif]--> <style> /* Windows Phone Viewport Fix */ @-ms-viewport { width: device-width; } .mobile-only { display: none !important; mso-hide: all !important; } .desktop-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 0 !important; } @media only screen and (max-width: 800px) { .mobile-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 1px solid #C3C3C3 !important; } .desktop-only { display: none !important; mso-hide: all !important; } .container { width: 100% !important; min-width: 280px; } .content { padding: 0 5px; } .walkthrough-image { width: 100% !important; } .performer-title, .performer-content{ font-size: 6px !important; } .header-msg { font-size: 9px !important; } .pre-header { padding: 10px 20px !important; text-align: left !important; } .side-bar { display: none !important; width: 0 !important; max-width: 0 !important; height: 0 !important; max-height: 0 !important; opacity: 0 !important; } .line-breaker { display: block !important; } .responsive-img { width: 100% !important; } } </style> </head> <body style=3D"margin: 0 !important; padding: 0 !important;"> =20 <table lang=3D"x-pre-header" class=3D"pre-header" cellspacing=3D"0" cellp= adding=3D"0" border=3D"0" align=3D"center"> <tbody> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, sans-seri= f; font-size: 14px; color: #78766f; -webkit-text-size-adjust: none;"><span = style=3D"color: #78766f; font-size: 1px; display: none !important;"> SpaceX= 's mega-moves; survey suggests pullback in risk appetite; NAV lending's $60= 0B moment; most private credit loans ever are up for sale </span></td> </tr> </tbody> </table>=20 <style> @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 800; src: local('Roboto ExtraBold'), url('https://fonts.pitchbook.com/ne= wsletter/Roboto-ExtraBold.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 400; src: local('Roboto Regular'), url('https://fonts.pitchbook.com/news= letter/Roboto-Regular.ttf') format('truetype'); } @font-face { font-family: 'Roboto'; font-style: normal; font-weight: 300; src: local('Roboto Light'), url('https://fonts.pitchbook.com/newsle= tter/Roboto-Light.ttf') format('truetype'); } @font-face { font-family: 'Roboto Serif'; font-style: normal; font-weight: 500; src: local('Roboto Serif Medium'), url('https://fonts.pitchbook.com= /newsletter/RobotoSerif-Medium.ttf') format('truetype'); } td ul { padding-left: 1.8em; } td li { position: relative; margin-bottom: 0.5em; } </style> <table lang=3D"x-main-wrap" width=3D"100%" cellpadding=3D"0" cellspacing= =3D"0" border=3D"0" style=3D"min-width: 100%; background-color: #F0EBDE; fo= nt-family: Roboto, Arial, sans-serif;"> <tbody> <tr> <td align=3D"center"><!--[if (gte mso 9)|(IE)]> <table lang=3D"x-main-container" width=3D620" cellpadding=3D"0"= cellspacing=3D"0" border=3D"0" align=3D"center"> <tr> <td> <![endif]-->=20 <table lang=3D"x-main-container" class=3D"container" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"max-width: 620px;"= > =20 <tbody> <tr> <td class=3D"content" width=3D"100%" style=3D"min-width: 100%; pad= ding-left:5px; padding-right:5px;"> <table lang=3D"x-header" class=3D"container" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> =20 <tbody> <tr> <td> <table lang=3D"x-header-subscription" style=3D"min-width: 100= %; text-align: left;" cellspacing=3D"0" cellpadding=3D"0" align=3D"center" = width=3D"100%"> <tbody> <tr> <td class=3D"header-msg" style=3D"padding-top: 20px; paddi= ng-bottom: 28px; font-family: Roboto, Arial, sans-serif; fon= t-size: 11px; -webkit-text-size-adjust: 70%; text-size-ad= just:70%; -ms-text-size-adjust: 70%; text-align: center;">April 2, 2026 &nb= sp; | <a href=3D"https://url6380.news.pitchbook.com/l= s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5cwg3lUteP3= GhVZrg31SDhjepGE7fdqK2gVYwKeGN1Q-3D-3D3umi_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPM= klYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nI= iiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk= 9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLASCHV0fJhYU-2FOG1nU= QQptYiesccjZBUiLrnw-2F06tDHLvjV4WmX-2BiDNG3rK7Y0eXDGGTTNO7l4aYtiQPif0mJlbqN= ZHSJvELZepRAKGbrpvFZ5EOuzChQ16BJSwPUUHq2bgd6YwLM-2FrAw77fV4clzyvqanBId4ruoM= Oht4V0lOjKThrizqnDrkqz6zwljPc8pDloIvExuu52Pn5suCi-2Fbs97YmDisy-2BU8wk-2BNp0= zP3EICaY3UGR9bmk-2BmpHsY24Ga0YRuT-2B7N82LqzVW0vXlOo2S" target=3D"_blank" st= yle=3D"text-decoration: underline; color: #1D5080">Read online</a> &n= bsp;| <a href=3D"https://url6380.news.pitchbook.com/ls/cli= ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrYCQ-2F7Wx1VdE7sYl12opJBSgX8wjgWQkjpY2yE7= 0mtuFtQh5JMynEp-2F-2B0ZsygXiW0c8xb0JNNkFtjTfdSBLrG5odLYHQXzZYap3xyjo613CQL5= EKIRNY6DZpApxW-2FtnBQ7rUuqNohbArjpNQasEdfyU-3D5HuF_Pr966knuaHmaw6c7pKvB-2BC= EiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N= -2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7= -2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri= 0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLARlnMd9cqaI= pbdsny9LvEv0xsdflClkzCGyu8aWBZurGLL02im-2B9ks5sNN7X-2BUX1O1dPZCl5EWhWBApAoC= MvkPlrSKP9BtrUFIUCsqU4KT2ncCp1SuSkprJLcwclxhLwerTV-2Bm1bCnRNd1D-2BUdUzx5er-= 2BaeXX-2BSLSYij-2FZqOmV7DQU9-2BiK2m10sRVGvVdP5psMLLIH3KIFSYTVndsq-2BVedYjU6= vmEBruDelXPbKJD86C7HzCck9C84w5-2FRIMHo49Ar3JjOiWMxcB0H7wTFeCXaD" target=3D"= _blank" style=3D"text-decoration: underline; color: #1D5080">Manage your su= bscription</a></td> </tr> </tbody> </table></td> </tr> =20 <tr> <td style=3D"padding-bottom: 14px; 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font-family: Roboto Serif, Ge= orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa= n></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>PE, = VC and M&A</span></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 14px; padding-top: 11px;"><span>Your edge on global p= rivate capital markets</span></td> </tr> <tr> <td height=3D"38" style=3D"padding: 0; line-height: 38px;">&nb= sp;</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-content" cellpadding=3D"0" cellspacing=3D"0" bor= der=3D"0" width=3D"100%" style=3D"min-width: 100%!important; width: 100%!im= portant;"> <tbody> <tr> =20 <td class=3D"content" width=3D"460" valign=3D"top" style=3D"ma= x-width: 460px; padding-left:5px; padding-right:5px;"> <table lang=3D"x-main-content" width=3D"100%" cellpadding=3D"= 0" cellspacing=3D"0" border=3D"0" align=3D"left" style=3D"min-width: 100%;"= > <tbody> <tr> <td style=3D"padding: 0;"> <table class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; 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min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579348" id=3D"n_579348" 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 FDA's U-turn on peptides c= ould boost the next telehealth boom </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100= %;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5cwg3lUteP3GhVZrg31SDh746vr0Gw= ANhb-2BCeFJWKug-3D-3DjKoa_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05= c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPts= bsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfw= Go4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLARvcUXQxSpgp5MKtbMK8eOUT3RizgpI4Zb9E= DI68fDht2iFIZWwlblSibE0cMKpCVHE6KnyPeuvwWOF2vRy4DvtuirlXHrZ4ljtTOIYSHwTCvT6= tZQhFb3gtmAOUL4wYL-2BC-2FaSMxMPvj478llQskrEyE6iKXXR2JBNqcty9T6ZmL0P-2BSg1V-= 2Bs2FIQUWtezn22Yw4m3cRCuCOU366cOcYLdHu-2FNKXvorqH-2BVtTxWeIvfSmnL0wuBZLYEJd= bmcgDeEjhWeD0KHv24xqrnq-2BOz3rby" universal=3D"true"> <img align=3D"center"= alt=3D"" src=3D"https://img.pitchbook.com/news/73574.jpg" style=3D"border:= none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td align=3D"right" style=3D"padding-bottom: = 8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: = 27px; color: #78766F; text-align: right; font-weight: 300">(Huang Zhigan/Ge= tty Images)</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By = Rosie Bradbury, Senior Venture Capital Reporter</i><br><br> The FDA is expected to allow compounding pha= rmacies to produce 14 injectable peptides, in a reversal from its previous = ban on the substances, The New York Times reported.<br><br> The agency's about-face on peptides, which a= re short amino acid chains, could open up a huge untapped market. For teleh= ealth companies like Ro, Solace and Hims & Hers Health, whose ability t= o produce compound versions of these weight-loss drugs created new business= lines, peptides would be an obvious next move.<br><br> The popularity of unregulated peptides has e= xploded, as Silicon Valley techies, social media influencers and government= officials have touted their purported wellness benefits. Imports from Chin= a of hormone and peptide compounds, including GLPs, melanotan II and others= , reached $328 million in the first nine months of 2025, about twice the $1= 64 million in the same period of 2024, according to US Customs data reporte= d by The New York Times.<br><br> Drugs produced by compounding pharmacies are= custom-made for companies and don't go through the lengthy process and rig= orous testing involved in traditional FDA approval.<br><br> But there are some important differences bet= ween peptides and the last craze. GLP-1s have been extensively tested in Ph= ase 3 large-scale human trials and target a well-studied receptor axis for = insulin, while these 14 banned peptides have not received the same scrutiny= .<br><br> The peptides market has taken off in the US,= buoyed by small studies claiming anti-aging, anti-inflammatory and muscle-= building properties, making them especially popular among Silicon Valley = =E2=80=9Cbiohackers=E2=80=9D and influencers like Joe Rogan, Andrew Huberma= n and Peter Attia.<br><br> If the FDA goes through with the reversal, c= onsumers will still need a prescription to access the drugs, but they'll be= far easier to come by than they are today.<br><br> "Allowing peptides to be manufactured and so= ld through regulated channels helps prevent consumers from using the gray m= arkets that are currently selling them," said PitchBook emerging technology= analyst Ben Riccio.<br><br> The move would also create a significant new= business opportunity for consumer health investors and startup founders in= the wellness industry.<br><br> "The word ['peptide'] moved from lab to beau= ty shelf, to consumer vocabulary without anyone calling a press conference,= " Brian Sugar, managing partner at consumer VC firm Sugar Capital, wrote in= a blog post.<br><br> Still, there's plenty unknown about these pe= ptides. If they are later found to have significant adverse health effects,= it could backfire on the brewing cottage industry.</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%;"> <tbody> <tr> <td valign=3D"top"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-btn"> <tbody> <tr> <td align=3D"center" style=3D"height: 36px; b= order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzX5cwg3lUteP3GhVZrg31SDh746vr0GwANhb-2BCeFJWKug-3D-3= DG_vu_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRq= aW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8H= vPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6h= ILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCW= Z19gH9mKc9XmvXi-2BLASAcrfP2hCdJuW9Knx2yxk8xG5F6Q0eSloTzgijgWJN1nXK9UYTxNxAj= iyt6Ytv8e-2F0LUrePPDvJkjB8Z0rk5Q9hkDFumriVZfsxQtzh2KaVaZhFBLr4OyJ9DyP2cQKqP= G40CVypMvlAPurR6T3h9opL8fA2ZcT8PkFVz8629o6l2ieDkdq0cVh5wo4bwZGKU8aj9pI0Y2RF= WqiTC4JsTpsxS1FQTUy4MIMWQN85qsCuFsAzlvJwrYv2eG8KbkpFTkvTahP20eo9eJic9xLEN9O= " style=3D"font-family: Roboto, Arial, sans-serif; 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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"><i>Rel= ated webinar:</i> <b><a href=3D"https://url6380.news.pitchbook.com/ls/click= ?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5cwg3lUteP3GhVZrg3= 1SDrfK08RC3gBu1LzA8BwECFg-3D-3DHKQo_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQ= P-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZj= kg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDH= Mbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWi= L-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLASSdovd-2BJk4m1jU6EvoGWOiw= sBHCcJkblApHNC65jkgaZnPM08rW1CpHSw98bi0-2BkN-2FzF3Hkn45wnnTJwzbHX0GsTWjjYOa= JrhaWU2tq8hQogwC7rnXLk-2BbMysxs-2FE2njU3zpzq2q1PFkf28FbXQ9wpUS7pJ1p6v7PXejK= KY868go1ANz3rlEAnSE4FJvMNpnS8DdF0PNLgHQ0Il6radudUQz7QCX-2BUAQ6S4dZ7-2Fb5uQE= 5F1-2FvWXRZP5vAHfHk-2BE1Yf4hDIf8-2FOwrBCddApTEQd" style=3D"color: #1D5080;"= test=3D"">The next wave of consumer health innovation: AI, wearables, and = the GLP-1 revolution</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>A message from PitchBook</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579345" id=3D"n_579345" 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;"> Put your brand in front of the= private market professionals who matter most </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">PitchB= ook helps companies reach investors, executives, and dealmakers through hig= h-impact advertising and bespoke research. Partner with our analysts to cre= ate data-driven content or connect with our audience through targeted place= ments across newsletters, reports, and PitchBook.com.<br><br> Clear insights. Trusted data. Meaningful rea= ch.<br><br><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5cwg3lUteP3GhVZrg31SDisHBQuu= nFpaveorqCNBEJw-3D-3D8Q_7_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05= c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPts= bsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfw= Go4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLATQRA9BimaczsA9LjxwVF8rAETODrCsRMLtw= WqkmWq4AFZphyx5VzqwB-2F8EGDQb8pc49VG6Rnr4oEH5YMm46sMJBjTAX6oiWMNMaYtpWhSpUj= 7H-2FZrKNBlj7dtI2PZn3DFpCaDOmPhFkCAcluek6oiG4Hnz4fINwFlEaCrxUz1dLRCWQvR5TjG= IC8yG8R1Xx5OvJpmzccb-2BtmK4P2QJ0dAr5S-2F57po4fy-2FZMXjeITp4gEo-2FvCIGp3IRu5= OpFMSy5AssB7feuytRCbIM-2FdzeIbjV" style=3D"color: #1D5080;" test=3D"">Explo= re advertising and custom research opportunities</a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Catch Up Quick</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80= =A2 <b>Only 11% of respondents expect leverage multiples on buyouts</b> to = increase, while 53% expect them to decrease. That finding, from our latest = PitchBook LCD US Leveraged Finance Survey, indicates a pullback in risk app= etite. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX5cwg3lUteP3GhVZrg31SDTMHI-2F= 7JWqhn80I1ZlWQYfw-3D-3D1SdY_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC= 05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfP= tsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJn= fwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAQwZeb8pg87n9Fsv3-2BNQVxzfzJjVotTo= tlp6ZrjGaaNEPUhRU51UvL8RkebZ34FFcTNJ7l0Wfz7Efw-2FZWrlqX6CTbem85gg0yJx1WZy9z= UsZZvu2NiBEDGTpznDxqlMqwfY-2FoMsF77WvHfO41qQq3AJtpnPtg4rSrZsHWkAa5h6tsE1bl0= WNhGchBs89nyaLPZEoRpXnkcPVKNeiRTzXeXZaZ4gRwvZL0YqcKHHvGWPPlcABW6LDbi0xxBjTw= LPOzpMcruRQYllpS1-2Bq-2BWiBgGE" style=3D"color: #1D5080;" test=3D"" univers= al=3D"true"><b>Read more from the survey</b></a><br><br> =E2=80=A2 <b>More private credit loans are u= p for sale than ever before</b> on a nascent secondary market, as investor = redemptions push credit managers to boost liquidity. But so far, the supply= of loans is outpacing demand. <a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUeFUs= svqqtRnsFrhQaA-2BScWM48ce5w7fGfi9XGLTCbJA-3D-3DidH2_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4= N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA= 7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVr= i0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAT3tOosqtk= IvTU7wBvQNM3DEUaunQRUXz-2BqaiOcD4v9PLSWaeavK1tptXBcgjp44ldYBQ0RWxosmdd2ObXk= S-2FI8n9tTMjT3e7xKodkNSri7iHk1xLNDFXkxUZ8nmsNkzFQN7-2BuUZrpJs0eqfcssQN0WFMQ= HbjWRTW5HCssAEKQKC-2FFWpM-2FhO54YJGa2IeWERiMvMj-2FAJ6A0ZtKizGiSNbyfxjDsE5aS= iOaDMKCl8CnXPUN7lafSdves6eiwU7vBok9PUdN7L-2BAl7HKh52yIJvdK" style=3D"color:= #1D5080;" test=3D"" universal=3D"true"><b>Full story</b></a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579386" id=3D"n_579386" 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;"> NAV loans and preferred equity= are cousins, not siblings </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 = Jessica Hamlin, Senior Funds Columnist</i><br><br> This week, fund finance provider 17Capital h= eld a final close on the largest fund dedicated to borrowing against the va= lue of private equity assets, a strategy known as NAV lending.<br><br> For 12 years, 17Capital built a reputation a= s a preferred equity specialist, culminating in the close of its $5.5 billi= on Strategic Lending Fund VI last year.<br><br> 17Capital has only been raising NAV lending = funds since 2020, yet Credit Fund 2, its second fund dedicated to the strat= egy, at $7.5 billion, has already surpassed its sixth preferred equity fund= in size.<br><br> The size difference between the vehicles ded= icated to NAV loans and preferred equity, raised by one of the dominant pla= yers in the space, tells us something about the different ways these produc= ts have developed.</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%;"> <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-2BaqM7ONnvsnswouzUeFUssvqqtRnsFrhQaA-2BScGEzj9hW= 5E3snrnR7X542Gw-3D-3D9Jw__Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05= c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPts= bsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfw= Go4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAQH4pdX1YHRIAmHh9EH6Jf7lzGA7duwcPOQJ= DyqVsFQfp89bY7H1UacCqvcDWenLgWWyxuBQ3oCD9LljLADI9sdsHp-2Fsb9dFFbMlfZCTcYaP9= JCgzp4cffXqjjIEgJxQ2vh7N5lV9kVy9sdQn1ZQbQ8K-2FDZmTEY4g8Gu9JiaeznU-2BNRQP-2F= uz-2FsaT8TdQqJXFu6Mi-2FwEhTPb-2BqNx7AQYJv72Pn3MMXqeO9VoG8OMvCfgHkFHZkPdXz1o= 2Hfp4rS2jsEzEul7I3RJZHN5S6ooBfwE" universal=3D"true"> <img align=3D"center"= alt=3D"" src=3D"https://img.pitchbook.com/news/73573.png" style=3D"border:= none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></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">NAV lo= ans have encountered perfect conditions in recent years, as GPs have strugg= led to exit businesses, causing the flow of cash back to LPs to tail off.<b= r><br> In 2025, the median holding period of an exi= sting US PE-backed company reached 4.4 years, the longest period in more th= an a decade, according to PitchBook=E2=80=99s <b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzUeFUssvqqtRnsFrhQaA-2BSczVybDHrP-2BGuRtcvT-2F1aRDQ-3D-3DFiYE_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVid= LZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp= 3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fM= aB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9m= Kc9XmvXi-2BLAStRxwsAXCcsxeaFDRSV1fGsws-2F7e50z-2FfAHF5ox-2FEVHL3bhIUG4jCHWu= LIZ4O8it7PUCI49eeVDeSRHDVdGaCoFv9HzSiqTelSkQY8BYD-2Bkdv36qN3BcyiD4cqF7JNyhx= a8nsy5p3pCLUrc0CliRU-2B6fdU24V5yajniBWg69wT64QY3Mjs5fmgoRmd6SprBgFm7kOAtZye= ayQTUnP17JghJoCnIcxkIG0fIJNzsTmMp5n3sSoe2M3Pmh0-2FfS2KizEax-2FBVkLbileceG1-= 2FFgoJf" style=3D"color: #1D5080;" test=3D"" universal=3D"true">2025 Annual= US PE Breakdown</a></b>.<br><br> GPs have increasingly used NAV facilities as= a liquidity mechanism, borrowing money to supplement fundraising, refinanc= e existing portfolio company debt or provide distributions to LPs without h= aving to exit their investments.<br><br> The NAV loan market is estimated to be $100 = billion in size and is projected to grow to over $600 billion by 2030, acco= rding to a report released last year by Swiss alternatives manager Partners= Group.<br><br> Preferred equity works differently. Rather t= han lending against companies in a PE fund for a fixed interest rate, these= funds buy preferred equity positions in the capital stack.<br><br> Preferred equity has morphed into a tool use= d mainly by private equity managers to run their own businesses, according = to Dane Graham, a partner at 17Capital. They use it to finance their GP com= mitments, management fees and carried interest payments.<br><br> A typical GP commitment=E2=80=94the capital = fund managers themselves are required to invest in their own funds=E2=80=94= is typically about 2-5% of the total fund=E2=80=99s size. Often the manager= has not amassed the personal wealth necessary to meet this hurdle.<br><br> =E2=80=9CWhen you think about the GPs themse= lves and their exposure to their own funds, it=E2=80=99s a very big market,= but it=E2=80=99s not nearly as big as the total private equity market,=E2= =80=9D Graham said. =E2=80=9CCall it a $400 billion market versus a $4 tril= lion one.=E2=80=9D</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%;"> <tbody> <tr> <td valign=3D"top"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-btn"> <tbody> <tr> <td align=3D"center" style=3D"height: 36px; b= order-bottom: 2px solid #E88F36"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzUeFUssvqqtRnsFrhQaA-2BScGEzj9hW5E3snrnR7X542Gw-3D-3= Dxyqu_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRq= aW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8H= vPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6h= ILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCW= Z19gH9mKc9XmvXi-2BLAQkOtkY4WOpOWWNZonCcui6Ct-2BzpthCVJNu64J7Zjyh5h6aKOzfd4p= cR5VbslIgFCe3-2B-2FkV6dlXJdj6Ec2RKgzcBrFOTdunLfjCYnelexZ-2BLWgkdLaMDMryG54a= dex4eXe5Ww9LQJvGKKM7qyvjLI89-2BmPi0rq5QX-2BpBkVVsOWj7pUc-2FR7woS3jSGwvKpO68= I8Fh5Qo6kMOCs-2FiWIi0u-2B-2BWP9st8KmzkpnDwuYuuALbr41x6T9GYaZ1Wdf66fPLKHPf0T= sPs-2Bh3-2Foby1gswVBU3" style=3D"font-family: Roboto, Arial, sans-serif; fo= nt-size: 18px; text-decoration: none; color: black; padding-left: 3px" targ= et=3D"_blank" universal=3D"true">Read more<img height=3D"24" src=3D"https:/= /fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: m= iddle; margin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated article:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUeFUssvqqtRnsFr= hQaA-2BScKs2M-2Bw1U7zyDlkXdTS-2FYEA-3D-3Dua5l_Pr966knuaHmaw6c7pKvB-2BCEiDnj= 5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2Fsg= FPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP= 9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoO= ARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAQxGz2-2FRUPzYg5= bv19YWm2pUYCMFkE9YlNAbZl7mj-2B8begA0Q-2FFgkqle2KesrsuNTBCxcovGkN2WJbHfXTPo8= ogiJ8qCC5EbK79EL1jwspM1fgTsAZfpg9XsYVT42jG8GxoHpIlJv7yUo7PYa5vnuGj1tGOn4ZIt= cGRRKvaaD-2BNlR3jCXMyvYVEImiqsMWuPeHvPB8aGMrKUT08-2Fj0WGmFFyxzyKXdB43DDz5bf= HgbN74TUzKepZKPF8sJ7hKkzMYIKcWGzqRt1LE-2FnIxIznoDw" style=3D"color: #1D5080= ;" test=3D"" universal=3D"true">17Capital's $7.5B NAV fund shows PE's liqui= dity problem isn't going away</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Side Letters</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Sma= rt reads that caught our eye.</i><br><br> =E2=80=A2 <b>Korea's humanoid robots have an= edge over China's.</b> Though China wins the robotics race in terms of sca= le and manufacturing capabilities, South Korean robots are excelling in the= engineering problem of dexterous manipulation. [<a href=3D"https://url6380= .news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON= nvsnswouzUeFUssvqqtRnsFrhQaA-2BScI-2FbtMSYXR8U6xQBH3UW8bg-3D-3DPWaW_Pr966kn= uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8= pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JL= tg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6ass= zVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9Xmv= Xi-2BLAR3ThhzJmc5qe2rhWeJ-2F4sKICl-2FjQw88bK2-2BYiClTE1dQS7s4nw212BPj1oOd3-= 2FFGz80LWfwpQ5OEOn-2BJiEDws-2FQlSBwKnCljMF2Du4qmOi18lE-2Fnb8SoB0AsJKDS9CJ8-= 2FUXm5Kn69L4gF-2FuxxZaxBMhmhG0wivJv6jBuzrD52KM91n1n-2FRrCIPMuwZbjkP7-2Ft9no= s324fNIgwIPBJoKxdTDbrcCrRwXVE-2FMw6wlf28z-2F-2B7jHlhX7GHBLZJoN4nZZ4iDsFf-2B= tfp-2BtVP2ItMrHcW" style=3D"color: #1D5080;" test=3D"">The Korea Herald</a>= ]<br><br> =E2=80=A2 <b>PE's consolidation of firetruck= s is creating a new fire.</b> PE firms now control 70% to 80% of fire emerg= ency vehicle production, and with prices on safety equipment outpacing infl= ation, emergency preparedness concerns are rising. [<a href=3D"https://url6= 380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM= 7ONnvsnswouzUeFUssvqqtRnsFrhQaA-2BScJQMT2BD4CgTAbGQE3LqTfQ-3D-3D9jHM_Pr966k= nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy= 8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5J= Ltg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6as= szVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9Xm= vXi-2BLAT-2F8X050Rg3A6FYaF2luu6FfBrp5jjm648oqkG0XHgt-2FCaX7jSvjeQ-2BzmEtygM= 1wN4fozAkuw-2BUuEGYVc-2BQqnZK5w7QEUTiOGq-2BRXh6mHv6kCKztUCgexLKnWPRAUOmQ4lB= YP7CG9RiGOztzRNW01m2oxGX-2Bixuvlvqz8-2FRGpH8tnsNq5GFzFA-2B-2Bxq4EgZ14CSzaYQ= 7r-2BvY9-2FcTbMieQcrVeKQrUmS8tO63STpS1Sbv1uc9YtkvVJgMIXl5-2F2n7LcO49j7mZNDI= OUlszvd9-2BJpo" style=3D"color: #1D5080;" test=3D"">Pennsylvania Capital-St= ar</a>]<br><br> =E2=80=A2 <b>Data centers are so hot, they'r= e raising temperatures.</b> Energy required by data centers is creating "he= at islands" as far as six miles out from the facilities. [<a href=3D"https:= //url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzUeFUssvqqtRnsFrhQaA-2BScupq0QXYIPI-2BWj3cftFjBKA-3D-3D6Vo= p_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5d= VidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcE= Xlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR= 8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19g= H9mKc9XmvXi-2BLAR0UV2IfvCX-2FnHg55Yv0SfnCqltGEpkWfJ0tEMK0-2F-2BsikPuKXIssuE= uf2BcVbYl3-2BddpRGKHmVY-2B2bTjNGov6NxjmNBcDHT91YszlOJcw54SUWG5x8XP29-2BLET0= pBxE3DuJN6uB4B1YKhsbHHxt3PhQQq-2BOphMnVnDBznQHOu5siPnVCjidzshIfh-2FEMq-2BCD= MrADUPlk-2BotGas2C04KgNCK9XY2AZiDnrdHWtLfwizCBckW7PiBqvx8CrkrU7juQdAUP4BXNW= fs-2FAydFEzlz-2FQ5" style=3D"color: #1D5080;" test=3D"">Fortune</a>]</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td> <table lang=3D"x-counts" cellpadding=3D"0" cellspacing=3D= "0" border=3D"0" width=3D"100%" style=3D"background-color: #051C38; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 5px; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-counts-title" cellpadding=3D"0" cell= spacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td align=3D"center" style=3D"font-family: Roboto,= Arial, sans-serif; font-weight: 700; font-size: 14px; line-height: 27px;= color: white; padding-top: 26px; padding-bottom: 37.3px; white-space: nowr= ap;">Since yesterday, the PitchBook Platform added:</td> </tr> <tr> <td> <table lang=3D"x-counts-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%; t= able-layout: fixed;"> <tbody> <tr> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-align: center; flo= at: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 731 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Deals </div></td> <td style=3D"display: inline-block; min-width:= 25%; width: 25%; text-align:= center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 2806 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> People </div></td> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-al= ign: center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 1170 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Companies </div></td> <td style=3D"display: inline-block; width: 25%= ; min-width: 25%; text-al= ign: center; float: left;"> <div class=3D"outlook-caption-override" style= =3D"float: none; font-family: Roboto, Arial, sans-serif; color: white; font-weig= ht: 800; font-size: 26px; line-height: 24px; padding: 5px 0 5px 0;"> 98 </div> <div class=3D"count-type" style=3D"float: non= e; font-family: Roboto, Arial, sans-serif; color: white; font= -size: 12px; line-height: 24px; padding: 2px 8px 0= 8px; -webkit-text-size-adjust: 100%;"> Funds </div></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-counts-btn" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"height: 25px; line-height: 25px;"= ></td> </tr> <tr> <td align=3D"center" style=3D"padding-bottom: = 13.3px;"><!--[if mso]> <v:roundrect xmlns:v=3D"urn= :schemas-microsoft-com:vml" xmlns:w=3D"urn= :schemas-microsoft-com:office:word" href=3D"https://pitchbook.com/free-tria= l" style=3D"heigh= t:43px;v-text-anchor:middle;width:148px;" arcsize=3D"50%= " strokecolor=3D= "#F79B3E" fillcolor=3D"#= F79B3E"> <w:anchorlock/> <center style=3D"color:= #000000; font-fami= ly:Roboto, Arial, sans-serif; font-size= :12px;"> Request a free tria= l </center> </v:roundrect> <![endif]--> <a href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzUeFUssvqqtRnsFrhQaA-2BScK-2FEXVvue-2B8TZdIk-2Fzm0krQ-= 3D-3D-ibp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68= NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4= cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPn= ZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQ= uvCWZ19gH9mKc9XmvXi-2BLAQ-2FnnlCLh5Vlg8I1fraWyGDKtj2v4WXj8nuubMvcn8bhckQu0E= nbnEW73m-2FJZcycHQN9xmlpvD7qLRe5GJ-2B9zeflEpEdUe4VAF2INQdeN0ZiOyl6HqKVxjvgA= M3UhRB33upU4Zp5ggsGwoL4hoaXzdVHSnonww1-2F7Qpz2HNG47oKIa58VOUcRz3hwGyLDqBCuc= lv35zTICuV24zj-2Bb1XoUgxulpyGqFYm-2FT8-2FzqNB9pqToqJ6UqEuTruDlA-2F9zJqe4Xvs= nUIGguiLjleFEv2OB1" 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; width: 150px; mso-hide: all;"> = Request a free trial </a> </td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;"= ></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td height=3D"20" style=3D"line-height: 20px;"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579338" id=3D"n_579338" 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: 2015 Vint= age Global Secondaries Funds </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table cellpadding=3D"0" cellspacing=3D"0" lang= =3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: = 10px; min-width: 100%;" width=3D"100%"> <tbody> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Median IRR</td> </tr> <tr> <td style=3D"padding: 0 0 20px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 61.811175337186896%; m= in-width: 61.811175337186896%; max-width: 61.811175337186896%; background-c= olor: #1D5080;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">16.04%</td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Top Quartile IRR </td> </tr> <tr> <td style=3D"padding: 0 0 12px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 100%; min-width: 100%;= max-width: 100%; background-color: #40C2C9;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">25.95%</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;"> 1.43x </div> <div style=3D"font-family: Roboto, Arial, san= s-serif; color: #000000; font-size: 16px; padding: 0 0 30px 0; float: none;= "> Median DPI </div></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-performers" style=3D"min-width: 100%;" width=3D"100%"> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-title" lang=3D"x-performer-title" style=3D"co= lor: #000000; min-width: 100%;" width=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 0 10px 0 = 5px; line-height: 24px; font-size: 14px; font-weight: 700; font-family: Roboto, Arial, sans-serif;" width=3D"80%">Select top performe= rs</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzUeFUssvqqtRnsFrhQaA-2BSco9Dk6s1WYBEii-2ByoUWjhCQ-3D-3DlNY1_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2= BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0V= V14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVyc= rtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2= BLARNwHlnGkLPoXKqSwMGfAalaxDMpxeIxBkS4QyjDqfYowuP0qD0tjI-2F6CSMqQmEUQMf1vJT= OrFLbLqPb-2BHYVjd16o-2BFaNzyVjBkPWjV8b6xu2hhVzj-2BcsPQ-2Ffe3RpuSpWfob0-2Bny= U9IadoiUsOy3R3EZo8rMRRbtfM-2FzMXEDjjyx3jMwketU-2FFACvn62-2BYz9yQCcYM4jYjbse= 5HLb8OCo96so1JIRHNoEcm3XhtzsYM0RGxn0YIcEKd8ywwMOkjpw73CIpyrNfJHITZe9va1WaT"= style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D= "true">Siguler Guff Secondary Opportunities Fund </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= swouzUeFUssvqqtRnsFrhQaA-2BScd6JJCuM0HiZtaG9doLebPw-3D-3DRQ0Y_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BK= liZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV1= 4y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrt= IgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BL= ARmzDQ2GVrI3S7m-2FwK0FWa5J1zi9wVavYrd69Cfj80UCfhkdIGL9vnXWzmzz-2FVB9gDWYpee= 0C8grifwZ9S-2FrxpNL5HcGo6bdynQsT-2BnsHFY1L74zI9ez1ClhqORad5HVOjZF9GOQJunpSe= SFH8fobb4HdOZJuMazFBdDB4JfG6TcL9nzCEVdgEsVe9Gn1YWZOah9XnauZsddB0M-2B36bh2Ks= TvvtVuJiPDkciAIInu78FRD2oUoYbM2lj0TUzg-2F9uk4v8cXCKw-2Bz7pDkvx-2BI-2FpU3" s= tyle=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"t= rue">SG/NMERB Secondary Fund I </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= swouzVY4T8IpBoByZ4BCThTyrO24dFZcMP-2FvlBcs69F9S2AnQ-3D-3Dk7vE_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BK= liZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV1= 4y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrt= IgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BL= ARY4Qa90SfjlY-2BmVi06MpDLSTVBFpMOXVTBWy-2BZqi2rl2-2BxccYgfz8oTf1xFfDNsvTlv-= 2B4m-2BqpeowcGUdKjsnKjUNffZylT0nZAxwapDKgqO9glAaUgGLvTkFWH-2Bz-2FsDLuKWUJDc= mJ-2Fg3KqF-2FMkuP2od6z-2FqEIntp9pj9A6T4tXbyIj1MU7D9XD6rAb0CcWkR7-2BBh9g-2Fv= -2BRqvEZOrIRcT14yN5bBu-2FVjcS6KeyO-2Fj0EPhY0mRPIZ5s97lRarW-2Fgcm07GmZjki0rt= g0WTe6W7HiJ" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" = universal=3D"true">Ion Pacific Phillion I </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-2BaqM7ONnvsnswouzVY4T8IpBoByZ4BCThTyrO2nxt9z9= y5giNNfolYCVZLjg-3D-3DqhqH_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi= QVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC0= 5c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPt= sbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnf= wGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAS-2F-2FnVzmHuQ3ct-2BL7RDZjyBR5ci7w= uqFjuqydnnDfJD98XNH8i-2FB5DtAgCUO8KtUus3C8SAWfiHQLIVbtIymKBi-2BwH8-2Fw60VLn= -2FsxxtjnOtkZ4aEJ4O-2BO1zB94vshGffBodjlKNVSU3gIAYPAIf-2Fvf1m2fAnaiulBVMJCdg= QEBbWdQKBKvjq9FLiE2h3n1Tj-2FlyK9zPyeZ1VM2YpJpjZj1Oy5MubD44VwXJxDIFlnRvGW1-2= FKq8B1XP-2FjWx4yc-2BX5Mk4sH5qiYzSoJ3G0TjxzYvR" style=3D"font-family: Roboto= , Arial, sans-serif; color: #1D5080; font-size: 14px; font-weight: 700; lin= e-height: 24px;" universal=3D"true">12 Funds in Benchmark =C2=BB </a><= /td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Check = out the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVY4T8Ip= BoByZ4BCThTyrO28bEHfzr2TJNQkT30XoIvbA-3D-3DGBUn_Pr966knuaHmaw6c7pKvB-2BCEiD= nj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2F= 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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-2BaqM7ONnvsnswouzVY4T8IpBoByZ4BCThTyrO23NxqloY2BLfRT3HVwHDELw-3D-3D5BC= o_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5d= VidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcE= Xlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR= 8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19g= H9mKc9XmvXi-2BLAREmpdmxQ7ihu-2FGW0px7bkhuqLtpavtHO5RfFIpiPZ5itQ6hWF8Fz3M3l0= S25lMB5j36eVJbtyu6EIwJFU9aFObXoA1xaKdeemNO7mXmjfkM23Qk-2FeSXRaATwIndnHX8wB4= 44mlcnBHWjMhNeZLNIdKKH1m4Cg5AmXIf8EwoBDArDtZJLT7QfDCz4AARmHOMT8nqibYwZleT5t= 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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-2BaqM7ONnvsnswouzVY4T8IpBoByZ4BCThTyrO2lYdkd9YYt9m2f5hz-= 2Bxd1Hw-3D-3Dtn6D_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9= m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJs= rm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsl= eAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAQTbAqyHrItPiFuv8pxjhhTncxOHWEtv9Sb3uDT5uvcl= GcxWWf7-2Fjf0TV5biI6-2FvNJdpkhfp4-2BG2XpRIsxv-2FoGpQ1eMOHzbut7I9vXWjMYAl15C= cijavNLPcTz5Li2ZZA6p9saqOEfPNelFzhwmhOQVpSVlDhHV0Q3GsBCca6lg8jJ9h57mTfxtcSH= a18IS5me3xNICgTNdhgQoxn4T01A0gnJtTCDBQtUYU0AhxOz4kJ-2FEsatiFnm1pQHazz5XwACr= YYAK8h6gqi3PXzA9-2FVAs" style=3D"color: #1D5080;" test=3D"" universal=3D"tr= ue">EnerVenue</a></b>, which develops non-lithium batteries, received an ad= ditional $300 million as part of its Series B led by <b>Full Vision Capital= </b>.<br><br> London-based debt market intelligence compan= y <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVY4T8IpBoByZ4BCThTyrO2FB94UiMHs= BY5rOfOG-2F26qw-3D-3DWCym_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05= c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPts= bsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfw= Go4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAQc2l7CG2JDQXhjxqoaT6HIHoevz5c1aB7EC= D3IgYFz3z8Nt9AriUlcVI2-2FK2rH1HYelJLXkEKh97IS0XxNckGhoW8372NcsCKJZtrX9vjY91= Jrx8j56QP9MjV7dw3R9TjjL9CUNf22ZppXROIh3l9ELszhGCyq5AGkeQqbBrkW1oBsxTi3-2Fx8= UrQk109EHDDb18xIXC1rA2AwPuHKvjaUy01pKbCURjy9ybEICyba3-2FvpkUPtAJsJUC-2BBSRe= OJLxe0aJaOy-2FExuJvKBhyA0-2F7Y" style=3D"color: #1D5080;" test=3D"" univers= al=3D"true">9fin</a></b> raised a $170 million Series C led by <b>HarbourVe= st</b> at a $1.3 billion valuation.<br><br><b><a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzVY4T8IpBoByZ4BCThTyrO2VcrbXZ24Yr0R9BjI4Sq2CQ-3D-3DD2LX_Pr966knuaH= maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-= 2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0= VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVy= crtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-= 2BLAQGC6Yit7RWr1hyYM4MQMeG8buil1rhSdAbaleDAcdWj5yfnS8N0ogZecP6j3rvgkfaulyo1= 0lIOIY-2BWdYOLpyIWLqmoRfFg-2FG0oRJ4-2BRKg4B1v2N4-2B7i-2FsaPS17p1Bl30Xg-2BQa= uVtRREhHlhD917SNRdMD-2B5-2BwanVVsHCH3MHR3Bm2BjmVIMJyGsdYumT7hOhbJQxkPzx59jm= hOMYTUXT01-2BPY3YJEhsjrA4bsUt6eW8QodpHTjSU-2B9shbUsmj4dORCCpO9KnOYdTt8Vtz8N= rQ" style=3D"color: #1D5080;" test=3D"" universal=3D"true">OpenRouter</a></= b>, a startup developing an interface to help developers access different A= I models, is in talks to raise a $120 million round led by a VC arm of <b>A= lphabet</b> at a $1.3 billion valuation, The Information reported.<br><br> Semiconductor design AI startup <b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVY4T8IpBoByZ4BCThTyrO2QaPvfm2it0thWB0u5j0RF= g-3D-3Deopr_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA= 68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hb= i4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCg= PnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0u= UQuvCWZ19gH9mKc9XmvXi-2BLASkPQ2t-2FlwFBpdY1CZ3SqAMrLzIQ-2BGw-2ButEeoJJHZvt-= 2B2yPAAA7erMnNi0lzo2KxHEvjfjITv7tO0ygzwcGC-2FFF3xjjukd35t-2Bk0rDzYiehzMCpr5= rZRk9J-2BALY9mmDOfW0KuG5DSoJ07tcrweu3fTYxloEVERNWYxg7aIzEueLl0oB9CkruiIKZIC= CBk3Puc45LWlJeN145razeqWGEkIAeu0KWmoWeUbIb3PY886r7J-2FSTLQmcSwKzY-2BKVHDZfB= 8gfYbMVAgl0JJtaZK5Z7DI" style=3D"color: #1D5080;" test=3D"" universal=3D"tr= ue">Cognichip</a></b> secured a $60 million round led by <b>Seligman Ventur= es</b>.<br><br> Brussels-based crypto investment startup <b>= <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73= BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVY4T8IpBoByZ4BCThTyrO2qe1cp8-2FWYuAu= -2Bvrv5Uz3Ew-3D-3DMvOP_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI4= 3kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C= 4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsW= fYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4= M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAT3j0aPG1qPYx28kINO5HT4UKgEMvDuHZoGJjPU= y3u7EV33pZLQtj40XlYYhC0oAD6Kd-2FSJOKx3Qa6UTGzwt20UjeLapYJO-2Bi-2F6W1WpKnok4= ycg3jghfg-2FzSxiTowHyE9IKbLSytqpTwrC-2FI6KAW6S1AmP0l113cT10uHWobGdshS5zybK1= NONtzNYm93RMnfmUhFybs5i6L0-2B7slKDQfeXcd-2BZWRnvsJqfOj6-2FBCN8G1b4kvT7ikiHo= MQvBuPgkiGNYzFplbR2VwsOSK2iKjUH" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true">Keyrock</a></b> raised a Series C led by <b>SC Ventures</b> at= a $1.1 billion valuation.<br><br> Cybersecurity company <b><a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzVY4T8IpBoByZ4BCThTyrO2wWCrmVc1MX-2FznTRJ-2FTigIg-3D-3De= UVz_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW= 5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvP= cEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hIL= NR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ1= 9gH9mKc9XmvXi-2BLAQTAv71CqL0flb4Hj7fqRnjz6T6sj6ptGF6ihVXG7WGS6Lc3gaSj9GI-2F= NbPG1h4MSZ-2B4xQVrRt-2BZFmdcM92-2BZHIw0Pn0rjXtLwG4Nj16CBXkMEb5K-2FyZ-2FjZe3= MV3Qziu73ea5vqmYiB2sZy5NbUoPnRVipm48e9jVSbNOx3FELi6dzRFsAsOFQGxQq1qf3MgjdiL= PUp-2BmtNeHwpmxRt0XDsWqAqMZwSDYHgHLYgxEdB5NsiuSFDIXHbmYntAn2wvwA29jxHeQYELc= 1donWjHJRS" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Linx Sec= urity</a></b> received a $50 million Series B led by <b>Insight Partners</b= >.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol7C= GGaFX5FHzIRHDZRBy7ulA-3D-3DEhg__Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9K= vdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7= CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2B= DsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAQfAf4H0T0jfGLq7EBMpa5EA6v85ht= QYhyhHOWyx7AtNT7usm9YQnoREJ721-2F-2BjmzOQQukgBPwBv31dXl2CFk5x1z6WZTEV-2BaJd= H5jMed2Yffm8WGv52vfW990P1IIunFuytPuATlZDh9iUvMA2ixVMNjNgRGyjSCxxT0Hm88Im5Dv= wkd31UHNLY71SbxGL5OYtUplIWPHO1WdKTqAqWmuqPVd2tvYmx4P2-2FCbapTz9dP13vkGD4Y2F= onveFczYAXNqfsBd0q6VKOgUeBo9BWGG" style=3D"color: #1D5080;" test=3D"" unive= rsal=3D"true">Via Separations</a></b>, the developer of a platform for indu= strial separations, raised a $36 million round led by <b>Climate Investment= </b>, <b>Aramco Ventures</b> and <b>Marathon Petroleum Corporation</b>.<br>= <br> IT operating system developer <b><a href=3D"= https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7S= pSWIrf6GFa-2BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol7NT0L8-2BYR2vrDYGA2d9GTNA-= 3D-3D52QC_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68= NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4= cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPn= ZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQ= uvCWZ19gH9mKc9XmvXi-2BLAQsZPhV-2BaQW8G-2BjgLhl6BXSLvIiNETEmKl-2FTlFHAt7-2Fw= oVkMuLhHHP77vIS7D-2FsvLQM-2B2KRlZ2XT7DrNOUwVLoD5wxlBYbatIEcJmOvRZqP04DIW1mV= vxVL3h9DyT2auJSSQc7ckTyyNmv45y0ELajD64QESsM4dy4lDstF7NU5oyZ9c7Z5vAXkwBZBQh-= 2FdI3g1wx0Qy7Ft-2BkwdLA3JIGmoOL9VWfsHs4y0Gwm5fWVC4ii1BM-2FA28uj4-2FzKGOT0jm= L-2Fv-2Fjt73fXXHerfZcE6r1E" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Treeline</a></b> secured a $25 million Series A led by <b>Andrees= sen Horowitz</b>.<br><br> Open-source orchestration platform developer= <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d= 4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol78e-2FLoVuG= DwtR-2BUDUNRv9Og-3D-3D79sz_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi= QVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC0= 5c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPt= sbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnf= wGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAQlyzSdnaapNMBryIQfYfYVWuRep7-2FDzw= lguRvq4dS-2FELlUlRNK2NqpRn9XG4gxFJYsfdSIRpfjVCrSimcll9CDLvRYNRZyMZ6RMYt3nwa= QFn4Y4N-2BnwhVuv5NRo3WqeJb26sNvaum2N9hexOpIQmRuTqBMfZVDmA5T-2FZ-2Bb5HvlU1h2= GwjLR3ep-2Bo-2BwKcZ-2Bvp-2BYmff1LCU3ZvMP8MnKLAIc4YQH85-2B-2F198wCMYJtnatG6S= OsOQMZJdCZHry5svElgnZybbbrcjVmMVHhK-2FJwf9t" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Kestra</a></b> raised a $25 million Series A led b= y <b>RTP Global</b>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" 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_579091" id=3D"n_579091" 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;"> PitchBook webinar: US leverage= d loans and private credit </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100= %;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n7= 3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol7w41XW4tiPE8Uy= rnuGPPwLg-3D-3Dof3A_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7= K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYO= Jsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5f= sleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLATsEC79XMa-2FEXxioE9g0csbqsN5s8GGQgLjDKd4i= JtZqYua-2FSWXZ6P-2BY61HHhbcfIC6nqSRvazSaJCgtu8phnYskB5Cu9kwqKusPG1J9-2Fe5MS= AsgMhOgMVoYSaqT5hCY2GAlGh0MKXw67p80RqQYn-2FZ6gtk3wlj0SzuZl1mJC1pkQmQrA6fxr0= TYJCfZROogFW6n-2Blxs8RhCPE9OylADtO73-2F6JystYDEEg4-2BNxtz3Hr-2FKs9SYxCV4s7p= g-2B8EwsTdAhZJFS7oxZpr8M-2F2EOyf1-2F"> <img align=3D"center" alt=3D"" src= =3D"https://img.pitchbook.com/news/73467.png" style=3D"border: none; width:= 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Get in= sights about where US leveraged loans and private credit are headed in 2026= . In this webinar, PitchBook experts translate Q1 data into actionable take= aways for underwriting, portfolio positioning, and capital allocation.<br><= br> Negative returns, sector-specific weakness i= n technology, and volatile equity markets are already influencing the risk = backdrop. Join us to learn how these forces are reshaping leveraged finance= =E2=80=94and what to watch next across loans, private credit, high yield, a= nd CLOs.<br><br><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol7w= 41XW4tiPE8UyrnuGPPwLg-3D-3DG5jI_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9K= vdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7= CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2B= DsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAT7fC06meobsApJ1EdUUOfxlJCuEO-= 2BdMKl709iG4V9fBU4QbK7d5qzYIHy4kqoanPgh-2FzxD-2FcHlQFAMAAh-2FesMHEnj46neWCU= MHUF31sABo-2BU358rb0GvAlJf5N8opth7C80WZLxOzzQ73jMW5xIy30TewX3g1f0NFZuBrd-2B= t25SuWEVdOtvKj0pYusuIqWrCRxMZwk-2FGyLdAB-2FMQeLLiNJX35hnmOwBrH1c9mYiqVkOqBy= sO-2F91anDTZCGudUd0htKYMzosTsFT5H0Q3yCCJeW" style=3D"color: #1D5080;" test= 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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>KKR= </b> is planning a 500 billion yen ($3.2 billion) take-private deal for che= mical manufacturing company <b><a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUjLak= qgTPOdMSsY5JU0Ol7ypucorIpAsQatqrxtLol1Q-3D-3Dc-Pc_Pr966knuaHmaw6c7pKvB-2BCE= iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-= 2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-= 2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0= rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLASYpJ-2BfSms= uU4LsogwY2rOj9nMLNaRGC4qTGFjcRrDbizdQsocM4kBo8InMLQDDbRgyFdbcwUtJLj1epgi-2F= U8dqZEfOP-2FSUP4II5VdWo4bSV3u3Tzi7R-2FF9t83gQclkKYDqW7VEQ8RTe3AXtBNjtx-2BOq= 0r3UbMo9EvrPSMSAb6zlhtYZ0xVyyRAjbPF7Xu5hAEkPQbUodNbfc89ZLt8VxYthCs9x4eFJo84= 1mZ2ZpDN0aXzWQNlePLq3J-2B3Q3br1uSKwK097XEVTdolI459Xfej" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">Taiyo Holdings</a></b>.<br><br><b>Black= stone</b> and <b>Colony Investment Management</b> agreed to acquire <b>Acco= r</b>'s stake in Luxembourg-based hotel operator <b><a href=3D"https://url6= 380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2= BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol75hm51NEbtnitC4v8dG5J-2Bw-3D-3Dcl-m_Pr= 966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidL= ZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3= rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMa= B6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mK= c9XmvXi-2BLASU1S6eMgH4-2F4VMfOmhPHoBdQVoBkQwIxHfXhu1MKq0UBmf3sSed6mDagYLR4y= Xl6m6yEpk-2ByS-2FBZrLi5FMZ54vzZ62dH3NeOUMhOzkQYEKvEpqXtNYcQTVL1igL-2BCF679y= Xp7enjl9AVzJwH15Mo9zH4lTXxSCMN-2FfnCpOuOvv8Q6AjIvo02nBD6qOHIAf4Mzkarf9sTrfz= NLtKuhOX575OCKTl11UE-2BrxG0VESFe1-2BOxq8XDXEWmC3FVzVa6s3nyypQVLDgK6xQwhXDkh= Oam-2F" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Essendi</a><= /b> in a deal valuing the stake around =E2=82=AC975 million.<br><br><b>Gods= peed Capital Management</b> invested in airborne-systems-focused defense co= mpany <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du= 001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol7-2BKh= yhmZmuDaMFDV7U7L3gA-3D-3DZ3iI_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR= 4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9Kvd= ZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CC= fPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDs= JnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLATPLkAdPDF9vxzH848lbBAl-2FSy2k77= mplgq-2FDf2HFxDlDY6V3EY1fwdyC6QrbAIYduHMDt-2F7mVkjXJ7lOxBg67UbqbJdYt2hpItLR= tw6cpbBY3omZp0DAPu-2BUziviQ4kw3GytIuXjtAeKesMwD1IRTA-2B0hVSIfoKzH0U94kxxra9= 3XfuW1GxsmwUjDwHx3tlRl60Udnf7iGM-2FC2ZyXy6xchIsk-2Fo5Uiyx4Si0dD-2F05mv9FqST= IQZsoGJYcsTz9b-2BDQWsvbVdz6oBW4yhIo8bcvE" style=3D"color: #1D5080;" test=3D= "" universal=3D"true">GALT Aerospace</a></b>.<br><br><b>Inflexion</b> agree= d to buy Finnish fire protection company <b><a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzUjLakqgTPOdMSsY5JU0Ol7iXRq0f2o3FT78BhNZ51OBA-3D-3DSb8g_Pr966knuaHma= w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2B= KliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV= 14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycr= tIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2B= LASeqIf90-2B9TMuF6K00k95kIqbJpTAFIrPEPy9HQ1iRkUpfJhCXRLliRBsVOFQJ651Umtmax0= xWhwGwsanO2-2FL8zGijBw2xM81GIyMI8qLntDNTkmRh2KEFB4ZY3NKEo7iM3iwBx7i91ruIZ2C= CuKDyswxkVypvLjlgst8q2rTQ4QFAvYF43XRcJ5ZTqdzp4ItC7DOsFR8GRsg3HVSDi6FwXprOWd= K6g2WXOCjYhQfzSNhHks7En2IuG7vrR6HRwH08bznIY99AXuHKlJHU-2FEuXU" style=3D"col= or: #1D5080;" test=3D"" universal=3D"true">Marioff</a></b> from <b>Sentinel= Capital Partners</b>.<br><br><b>Synova</b> sold its stake in <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol7PIPiziZPf-2FTyRBEBKsFj1A= -3D-3DJ0VY_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA6= 8NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi= 4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgP= nZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uU= QuvCWZ19gH9mKc9XmvXi-2BLARknmI4CAuc9-2FU4wdRI4wE4b8pf4PA2yE74qZycqfKKUKCq-2= FxfPMJqBiyL7AennR5PUBMtUZxH1iFc-2FGENe3gO9XeOYWp3rmZPR0J3okrkEWD14fJi0m1C-2= Fr4MvFZ93npHcuZ6jO99FGmNVi4gWh6kRWDlV3XCqnpnnVshCRbSUOC27M8VhQb-2FoaUPXcSiX= WMi2-2B2CCebvGrJJElQ5NvC8BlJVZEarztlv2oZWoLZwp-2Bf7ydmbZur9cD8BNe2kWb7pGhjh= Lw8-2Bpx4IaaeSlpCZe" style=3D"color: #1D5080;" test=3D"" universal=3D"true"= >Orbis</a></b>, a UK-based provider of security infrastructure, to <b>Tiger= Infrastructure Partners</b>.<br><br><b>The Equity Club</b> invested in <b>= <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73= BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUjLakqgTPOdMSsY5JU0Ol7h8kHLOaoaGgdWA= MGAHc0CA-3D-3D7wjl_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM= cVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K= 9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJ= srm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fs= leAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAR1AMcA8jvcenUpGF3pUmwuNa-2BzgyTaTzljY9qqDq= de9DrTLiSf2By6ZJE4GJi-2F9iEZexSRdXOFOXzb1iR6cboMms08EjdiSn1wst-2BmlJx6XlDhs= fG9vMJH-2BeiuFMdy4k7aAWfL-2FfY-2FLkfnPQYS-2FrgoxjBkbuD2Ppp3KjR4HLBNxTRy7mxv= DPbbMag1GvX9nHmpSkSCM-2FMqNx44T5b2ZK2SC7amFOAgtJm7pn-2F7wVyoTVRS7CzAT22PMLe= vc8J-2FDQT8jBbPAsR5TpNkAX-2FeKlGD" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">Lux Entertainment</a></b>, an Italian producer of large-scal= e events.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Portfolio Companies</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVZeh5V2FAIB-2FG5msa8cN5sz3s8ANrwxuhi1NU= MFpY-2BWQ-3D-3DLvNb_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7= K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYO= Jsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5f= sleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAStAkH-2FyO-2Bq7C1Ip2NyzPRVsCfCvdfiLD3DHb9= l0RVSWhsJjVhj8Os5v6mL1IvNZAiF6Boq7dOSstWTouADWANbDnIccUDCBpX8teYrgApI-2FaDM= RWdVGEocmPoTYCRPr2MEWjpZuGiMXY5WR8zn-2Be0Rvp8upjRuHNb27pGyTp4DLZ7CKQHsJ13kA= -2F7xkGnIGodggLpc-2BF5Uvd67L5H8c9TjPpwHG-2BgIqCsEgf-2BrylyFFjsge7Jz-2BIM4Gz= IzPKSK0jS-2FfEzIPuzSRl6WTKm-2BDpQc" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true">Monzo</a></b>, a UK-based digital bank operator backed by i= nvestors including <b>Hedosophia</b> and <b>CapitalG</b>, is closing its US= business.<br><br> AI model-evaluation startup <b><a href=3D"ht= tps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpS= WIrf6GFa-2BaqM7ONnvsnswouzVZeh5V2FAIB-2FG5msa8cN5sZ6o4OW8X6FsaBNDiECTLHw-3D= -3DPlwB_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NV= RqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz= 8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC= 6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuv= CWZ19gH9mKc9XmvXi-2BLAThmtVxg7VT899ZqwDPnAr1gab4EEplOgV347uu2o6vEyhU431O8k7= nHMoCafiUQkSOHtXFGfnROBxVo9GeUwrHVxHtzOHSgKUfzh5B2xEA3xCvph854wJXFdaVCsRyU5= vGu6U787hsxmp3xT3mr2FReTOiAR4YyGauGuBMlo-2FO1oFpgZvlvzkNkPOzSJeZqvdr8LdIAR8= -2Bmg8-2BuWkuSIRUbsQR97en4NIs-2FzP0RCYO5epgIrSvCuPunKvOObpI1WrWaYsn5VJLCnMw= Uo-2B44ypJ" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Yupp</a>= </b>, which is backed by <b>Andreessen Horowitz</b>, is shutting down.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Exits</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>Con= centric Equity Partners</b>-backed <b><a href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzVZeh5V2FAIB-2FG5msa8cN5sKH2MQ6-2B0HMnYFsQqe9TX8w-3D-3DCL1p_Pr966knuaHmaw6= c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKl= iZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14= y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtI= gGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLA= RjdLr0DWTWdGTQgAaHsa-2FjUeFhim1WLMn4ANnYBanMY5HJf-2FBMFW-2FRalNJEPoEKnZuzVc= O4NagTiLQav2Y-2BkS2MSkyCEuK10I1VpfkmLEuCW7wD6R1RjDO2gcQQBpR2n0jhy9CpELWwdo-= 2Bhbv9q7kZo0TF0xLcSwZjG2ASyewlxwvhgLqNYyObA4Ddnkmh6wCQ73SYCjJijrigUyyEP4piT= ZBTN5rrJIx93MGv97IjkbdizlBogARSxuaGZ3yiwQVkBGTuJ0JsXLmTlnAhWttf" style=3D"c= olor: #1D5080;" test=3D"" universal=3D"true">Frontier Waste Solutions</a></= b> is in talks to be acquired by NYSE-listed <b>GFL Environmental</b> in a = deal that could value the company at around $900 million, Bloomberg reporte= d.<br><br> South Africa-based fund manager <b>Public In= vestment Corporation</b> is looking to sell a majority stake in chicken sup= plier <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du= 001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVZeh5V2FAIB-2FG5msa8cN5sV-2= BQ29-2BY7JiQqMCiGofjdMg-3D-3DYW3H_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-= 2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg= 9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMb= r7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-= 2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLARKX9q4K2Ueu8Whw8eVUvBRhDS3R= -2B-2Bs6bjPGS-2FEBmRJ2bsz5ja3IvtvdecKiKKrtlDaYyMGbaApqlT6Lj64lsvuXGBif-2F1l= eoW9-2BXJBJHhHU2okuDV23K0PCsGe-2FmCIPoNwsd2oC177xomRjnnfgTdLNho1OdcOWM16imG= 2JRPmGARiehyPwtSWuP9rqfZ3M6twwEAyY-2BUELVS25sDAF8hX9A9w3yLsrj-2B-2FX2arrzv6= 7dchbB3wnjJMSMnd5zOKWcKmFrll4A5SwSUxj44GUsw1" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Daybreak Foods</a></b>.<br><br><b>Warner Music Gr= oup</b> agreed to acquire <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVZeh5V2= FAIB-2FG5msa8cN5sRhXsXkzpOoyCx9cZnmcqcg-3D-3DDfhl_Pr966knuaHmaw6c7pKvB-2BCE= iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-= 2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-= 2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0= rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAQ61v31PTu5k= eHflRwEbab6Co7gw7VoVMMGVI8HffQZ7G3S6Qpsqe6UoiP7RZ-2B0KFWOudT0b7P4uc-2FoW-2F= 9ht5eYHlkDQJAT1nx6-2FeaWTsX-2B7-2BL2Oc4mLdMIqod2orYSN9RvT1NWr-2FbPnOJIXVweM= xhXpVqHgzM9XMtaslAcWnT00Y5gfQWq5sGiyErI16NgKQzQR5OgQmqLSkDSLnXtaO4Kn8tB4W5P= Hj2IFBKdcWcGlpFQOqvJce8N-2F91J3RbjcUucbzvc5XQUXEn5tYMyKzZM" style=3D"color:= #1D5080;" test=3D"" universal=3D"true">Revelator</a></b>, a music distribu= tion company backed by <b>Afford Capital</b>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 20px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;"><b><a test style=3D"c= olor: #1D5080;" href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVZeh5V2FAIB-2FG5msa8cN5= sUZVOb-2FQWVVshN7pNWmZu8A-3D-3DWyeV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQ= P-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZj= kg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDH= Mbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWi= L-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLAR8xDgEkH7nIJVm9iejXiwZIC-= 2BFaL-2B-2FUpBkh2uGKNBHVCjn8zythtcAsDheIu88Pbl9anGMBuxgZdnV8VJCBVMX6lZR8WSr= l9FCCOxj3rmzeQd18tk2cmwB8onynpx-2FX0QmluJ1Ns6yfpmyLApSMXml-2BKyA-2Bky4U6oNq= TNdxWf9o6yJlvuaPRKmX9xFzzy9-2BrD8e8VJEPmFMw6NUL2wua5ZszWkCUpH7F7kY6nuidRjjh= VVl5BD7EGt1QgBhN2VlBFlzsdK5aiYywRPhDJM6peL" universal=3D"true">Blue Owl Cap= ital</a></b> closed its latest asset-backed fund, Asset Special Opportuniti= es Fund IX, on $2.9 billion.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Chart of the Day</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100= %;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVZeh5V2FAIB-2FG5msa8cN5sWgHmHE6= OmAr9rm5YBQIX-2Bg-3D-3DbMVk_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC= 05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfP= tsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVycrtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJn= fwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-2BLARCIgcg-2FaDR3h59jtdLoUl5oQ5btnxAu= roXmfhL1xOjLZ1uWt6qDBOHg4HVDjZHoP8UHzSocc-2F9GfI9s8QyV-2FmVZJ-2FQ2nZLfMZAYt= f6RkMpipWFcaNcOmPRk4PZZ88gG37OrsjiR4pwr-2F25ZVkTeNQmIFjiJIe-2Bb-2B6H7cGf1uV= -2F6I2SM84g198BFuWbEl4a0qpUGYtjG25NE-2FJxSKPLllDmAC8sYnp3jBifdAWNcQAA-2FQHr= IU4KMSmcP8bMnkx8XtAc4fJ1atbEtbNEVRfZPNiC" universal=3D"true"> <img align=3D= "center" alt=3D"" src=3D"https://img.pitchbook.com/news/73567.png" style=3D= "border: none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">About = 56 deals have closed in the industrials sector in Europe so far this year, = totaling =E2=82=AC9.1 billion (about $10.5 billion), and the continent has = several major deals in the pipeline.<br><br> Source: <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzVZeh5V2FAIB-2FG5msa8cN5sWgHmHE6OmAr9rm5YBQIX-2Bg-3D-3Dl4g0_Pr966knuaH= maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRqaW5dVidLZMxy8pE-= 2BKliZs-2FdY4N-2FsgFPMklYoxZjkg9KvdZC05c8C4g7K9m5m7Hbi4cz8HvPcEXlp3rR5JLtg0= VV14y5U0AbcCA7-2FtP9nIiiQaBDHMbr7CCfPtsbsWfYOJsrm5eCgPnZC6hILNR8fMaB6asszVy= crtIgGfSVQkVri0rQoOARk9NMeYWiL-2BDsJnfwGo4M5fsleAeV0uUQuvCWZ19gH9mKc9XmvXi-= 2BLARqizk-2FMo7f9CvJinLPdEKTaUxYH3DyaDDuowioM4F8wJuzYfxc2jJUiMI-2B0mSMID6xn= 4-2BX1TBr-2FiQtOGn-2FfgPYXWgxGaUUzB1To0H3tlumP-2F8IptQ4sHJ-2BBxmxCJk38Y-2BS= I5yU7EczKEivQtrusLiPEosgrWAnEgPwPrXe7yol-2BepvdhJE5sNtWMJmcojQRn8tBJwYjkKDf= 2-2BEcedCvh8XoaHORXJDag-2FNy8K8fCth5mgQQ1NnFyC2-2FNrRRLX0f-2ByLAchv-2BYwHqc= EPkZdILmTk" style=3D"color: #1D5080;" test=3D"" universal=3D"true">European= PE refocuses on tangible assets amid AI uncertainty</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> </tbody> </table></td>=20 <td class=3D"side-bar" width=3D"140" valign=3D"top" align=3D"r= ight" style=3D"padding-left: 20px;"> <table lang=3D"x-sidebar" align=3D"left" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td> <table lang=3D"x-sidebar-block" width=3D"140" cellpadding= =3D"0" cellspacing=3D"0" border=3D"0"> <tbody> <tr> <td align=3D"right"> <table class=3D"desktop-only" cellspacing=3D"0" cellp= adding=3D"0" style=3D"border: 0; width: 100%; 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