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The original message has been attached to this so you can view it or label similar future email. If you have any questions, see root\@localhost for details. Content preview: PitchBook Newsletters Carlyle CEO: Don't sleep on wartime risk; PE execs flee to credit, secondaries; a history of pension fund misconduct April 15, 2026 | Read online | Manage your subscription The Daily Pitch PE, VC and [...] Content analysis details: (0.5 points, 5.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- -2.5 RCVD_IN_HOSTKARMA_W RBL: Sender listed in HOSTKARMA-WHITE [159.183.175.69 listed in hostkarma.junkemailfilter.com] 0.0 RCVD_IN_VALIDITY_RPBL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to Validity was blocked. See https://knowledge.validity.com/hc/en-us/articles/20961730681243 for more information. [159.183.175.69 listed in bl.score.senderscore.com] 0.0 URIBL_BLOCKED ADMINISTRATOR NOTICE: The query to URIBL was blocked. 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[159.183.175.69 listed in sa-trusted.bondedsender.org] -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_VALID Message has at least one valid DKIM or DK signature 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid 2.5 RCVD_IN_MSPIKE_L3 RBL: Low reputation (-3) [159.183.175.69 listed in bl.mailspike.net] 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 RCVD_IN_MSPIKE_BL Mailspike blocklisted 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; 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} .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;"> Carlyl= e CEO: Don't sleep on wartime risk; PE execs flee to credit, secondaries; a= history of pension fund misconduct </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 15, 2026 &n= bsp; | <a href=3D"https://url6380.news.pitchbook.com/= ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVgMPzcHtnzw= 9qgL-2FpqwUS2abV9w32OtP4AHsFjwqb0pg-3D-3Dhrh-_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw= arHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjR= DTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3Q= XeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetG= gfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0WOr7F6Z6NBN0kHg45yPK9UzfpYkR= 8z3Z0j-2FH6bEaeFQ9KnlhPjzGEOcJyjkwFGnInf-2F3NfrYePrIPBIIhMNQxpZ1aTDsbVsMYRJ= -2BJD9ZGAgiRENoGsgBYZ8XsKjpe-2FpEDjhgcTCNkUIN54sx52egibh8XmdZ2ieUH-2BOOsvTV= S8QWKAvoeuSRTfrhWA-2Bd7yBMmb02AKfjvaLIYANpsldeIz5hy9RJFtBK6w-2BtIxL-2FrZLFT= tY6FUTqDH60S5ejj6sDMt7iLzTzdD7jOU-2B459vwbM-3D" target=3D"_blank" style=3D"= text-decoration: underline; 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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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Morgan, Dentons and EisnerAmper, just dropped. <a= href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73Br= X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVgMPzcHtnzw9qgL-2FpqwUS2z5lyJjwwkXllBx= 9NgA4cxg-3D-3DgqK3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe= UgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATX= mYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0G= UtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZ= kbGJ5AoruVKgxnoaDgW0WZgwV9HDfCCcHpQd82NJej0Mvtl8xV7xQ7Cl3hVrzc6A3i7W91uVqES= mwM5u6J-2FtTeNpu2NjR8xD7vFw77F8GYgOp44BvNjt0o84yABy8d71daVSWbRwE-2BLIAJWdgu= x-2B90z79lNIGSV7uTii9r1PkbL0IQn26GjNjG-2B0rwLCYpw0fwqdcXNsl0xjSEhkwMdty4JQE= P-2BMnVKvJWIuVjeFy-2Fdb8YDrRTcyGkM1hFbEkVDfh-2Fjt5G4t2GYMEiqZvqzpCJpr8AGAMr= ry9IxiiuqAwk-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>= Read it in full</b></a><br><br> =E2=80=A2 Was this newsletter forwarded to y= ou? <b><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4= n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVgMPzcHtnzw9qgL-2FpqwUS23ylWApCZP= aY3dpKWhktbvQ-3D-3DZHJ9_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb= 2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG= 2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96= I7pEZkbGJ5AoruVKgxnoaDgW0XqelEktRgsVjucJjpVVCfWtvVCksnT9IBC6-2FUWoQB3HvtZTN= 7iBcYxgpTvQnpVI2YDTUgI-2Bra9BT5cqLW1FcxQIkH1ZH3BQU5yLM2taMANhw2HcSoQupIZMPU= Jf2iACFcWB94sLYwEMQRgABmxTlpYb7X0nmeItOLpEjwZljTNveG8fmeHTt4uxk4GDRX0ecxJnv= GEcJo5izkfd0WFSrW4bGBeFosMZuO3-2BHU9uxHC87kZVPAQAf3D8s9w3mntWtfYdvNU5nxoFhI= P5iSm-2FS3Y-3D" style=3D"color: #1D5080;" test=3D"">Sign up here</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" 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_579798" id=3D"n_579798" style=3D"font-size: 0; text-decoration: non= e;"></a>=20 <table lang=3D"x-news-group-title" cellpadding=3D= "0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;= "> <tbody> <tr> <td><span class=3D"outlook-caption-override" s= tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s= erif; font-weight= : 500; font-size: 20px; line-height: 26px;"> VC's 2026 barrels toward recor= d despite non-AI sluggishness </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 = Kyle Stanford, Director of US Venture Research</i><br><br> The US VC market in Q1 continued to show a b= ifurcation that runs deep.<br><br> Deals below $100 million each represented $2= 4.5 billion overall, or around 9% of the quarter's total deal value, accord= ing to our latest <a href=3D"https://url6380.news.pitchbook.com/uni/ls/clic= k?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVgMPzcHtnzw9qgL-2F= pqwUS2z5lyJjwwkXllBx9NgA4cxg-3D-3DgSeb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBR= FCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2= BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSn= o-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj= 71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0ZPbpbZkjD53do1CCZHOXfiuRg6cnk6JOzey= YS0OigKKyhul-2BrgGR9i6U-2BTqbcgzPWfshQtDeXfbAlTKFMnJ-2FT7Y96TraNUDUuFr-2FSU= q2i9iCAkA5sKhMTbSCLZLlAbShguD6MwjXTWsc1CWmfCtfiCFO-2FaxfMiT9OBug6VRXdwkkPZ6= OiFtAa3K7Lo2LQlizZDjI6MF6AgAIdWpz52dke-2FVBczBp9MZmDy4GPM1ZVMcxn3qZnqd2tgyq= eH5Q6XhTQ74uNwNDBg-2F8b71xztyKuE-3D" style=3D"color: #1D5080;" test=3D"" un= iversal=3D"true"><b>PitchBook-NVCA Venture Monitor</b></a>. But the five la= rgest transactions raised eight times that amount, making it clear that con= centration has overtaken diversification.<br><br> The driving force behind much of this shift = is AI, which now accounts for 45% of total US VC market value.<br><br> The fear of missing out on the next Anthropi= c has pushed investors into deals at higher prices on a much faster timelin= e. AI companies are raising rounds more than half a year sooner than their = non-AI counterparts, with valuation step-ups exceeding 2.2x.<br><br> Overall VC dealmaking hit record territory, = but with a big asterisk. OpenAI's $122 billion financing alone is larger th= an the US VC deployed in all but a single quarter in history.<br><br> The total deal value of over $267 billion in= Q1 has already surpassed most annual totals, trailing only 2021 and 2025. = Those marks will likely fall before summer.</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-2BaqM7ONnvsnswouzVgMPzcHtnzw9qgL-2FpqwUS2T7lD33F= Trq-2FBCRAy5ZNPjA-3D-3DRnF6_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t= 1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGk= mDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2= BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlg= lx96I7pEZkbGJ5AoruVKgxnoaDgW0QM3sRBMsvONkVYPzqwhhWpS2xWaY-2B7HdZKfrX1IhuD5Q= QL3Dd1dHxKgSeFSnbYLYGuWkY4jDY5omg90wBH4oUma-2Fi-2Fb37xVV7AQGA0It-2B3vspng7j= BKT3zvyzkOLv-2BBXK6Fu8qc7elFjTWdt6Sa3Jbq-2F6sXn-2Fl1umAwR8d5p1wSW2zC3jb0B0P= HpElQ3cTaUX7Xt36u6q6QN47fhWCNq-2Bmr5P7cCSes0DyulrRn8KxezRJ8ApeMPmIME17c2emh= ZsZ-2B-2BCsE-2FkRbW-2BDXKg359Xs-3D" universal=3D"true"> <img align=3D"cente= r" alt=3D"" src=3D"https://img.pitchbook.com/news/73769.png" style=3D"borde= r: 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">Zoomin= g back in, the bifurcation is also visible across stages.<br><br> The median Series A valuation reached $62 mi= llion in Q1=E2=80=94nearly triple the $21 million recorded in 2020. Yet, Se= ries A deals for AI startups were completed at a median valuation of $78 mi= llion, while other companies had a median valuation of just $42.4 million. = This trend extends into later funding stages.<br><br> Ultimately, the result is a VC market that's= increasingly defined by velocity at the top and stagnation everywhere else= .<br><br> Capital is abundant for the perceived winner= s=E2=80=94for the rest, the path forward remains uncertain. With liquidity = scarce and firms' own fundraising subdued, the sustainability of current de= almaking dynamics should be a major consideration moving forward.</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-2BaqM7ONnvsnswouzVgMPzcHtnzw9qgL-2FpqwUS2T7lD33FTrq-2FBCRAy5ZNPjA-3D= -3D_HZJ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8Pzs= FH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2= FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8G= idQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVK= gxnoaDgW0W6ZZwyx4yVmz6priedPnbSEdpTGEeBAvvynvn-2FeBVp9xUcsywXmfn2nT0t2xfHw1= 5oj8JqpPnSOw719-2BzKJf9-2BzZGB-2BA7y8ETLKXbX249iY3nZxIpamN-2F21zv6i-2FQFClt= uDZtYqqR51sl9NKUo1FgoJD3SGjWaR7UjzwkU54PU-2Fbj5PkrmL8vbTa6Q86INMhEemwGCm9kt= FMx1InDSjat-2F4TNx-2Boh7PSkOyUjgSAKOTsYFpc8PvDtl2w71No-2B9DdryMRsflNNcg3Tnc= 8p1UYWI-3D" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18p= x; text-decoration: none; color: black; padding-left: 3px" target=3D"_blank= " universal=3D"true">Download the report<img height=3D"24" src=3D"https://f= onts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: mid= dle; margin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVgMPzcHtnzw9qg= L-2FpqwUS2nxJejQzLpOYGKS-2Fw-2FHxM5Q-3D-3DyFCl_I3w5d9c01gkD8gLzFEofZR-2Bh6V= warHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHj= RDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3= QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8het= GgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0eC1z2NuLVSPiMLGhWsuX5fSrj0T= OX-2BXDap5guMCFem90sNft-2B65s8LjkJypWhqtiIhnFoKIxGGQbt9LcXkJT5N1oQKyrzbm6z-= 2Bh8AQkk9wfVQdp0qZVWwK58CRPPWu-2FYblnVQe7c14iqyK0LSmbSE2rpxgQ0opVvQlDa6QQWW= wXfT1MtImACnksFIGflP2ma5QyN2KNNjZeIVuQ3Uhd4-2FzOz0bH0rQfcXbql5UR3whLV7MX8Wx= D4MPP-2FEj5Kq2iXXYHhSZhAUKWLkGcuG3bUhs-3D" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Through the Looking Glass: The Race to Build Enter= prise AI</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Catch Up Quick</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80= =A2 <b>A deal drought is driving PE executives toward credit and secondarie= s</b>=E2=80=94but returning to buyouts may become less straightforward over= time. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrS6fDU= J-2FCA68N9ucWhBrbBw-3D-3DqvTk_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F= 3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBR= GkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn= -2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BW= lglx96I7pEZkbGJ5AoruVKgxnoaDgW0UF6bsprhxMCYlNYtERbWiu6HAMFWjozI-2B66dVvncLw= bd2QhoyhuO6fma6R5rRZEm1TyJCcTCoki024xkGDx7g-2FYlZoQ-2Be6tPPXmhNDFStuEDoENsR= ZPc5jP9i1HokHt-2BdeVAx-2BWVEoHwvShPobP2D2sMUIjiOOxAFChDxrF5EPkV6454SI7sGIE8= AxW-2Fzse-2BceENCCBBzHxp2vZVI-2B2eZ-2BA25pfo8kGACnXYmMMFGcBjdDCeaGdSs4Jp52d= HoLeq1eqV4rxAwnghpQS-2F1cCSCE-3D" style=3D"color: #1D5080;" test=3D"" unive= rsal=3D"true"><b>Read more</b></a><br><br> =E2=80=A2 <b>Pension fund misconduct has a d= eep historical precedent</b>. While the nature of the allegations against t= wo executives at Iowa's largest public pension plan hasn't yet been disclos= ed, the incident ventures into familiar territory. <a href=3D"https://url63= 80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B= aqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrJo3-2FWvlhd2PXRGl0RqVz5g-3D-3DfDQx_I= 3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4Qw= FZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0= feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9L= rWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0= WWh9beMsIarYu-2B29ueJX-2F4dNDTHbwbzpig91CmKFub5ck1GwMHqeThhlE1ugip7UWuDlk55= 5ffraFFNZPNP-2Bi01MSqzTet6YYG2ZxxbyCapsYvXETD7fhBc2BRtvRcMdrVcs-2B4KD9IodKb= YBQxSxyNo2KY3t8R-2BQBC5wHu5M8U4MGgE67XgbRVnW1waWiFTfVkcCD-2Fx3aPPbtPypENd4a= FigJgxvCUBqL-2FPCITbPfPlMeA4c4v03psa5TqUkfLJMKI1PZxCofJBKtGJy-2BKlbjI-3D" s= tyle=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Here's the backgro= und</b></a><br><br> =E2=80=A2 <b>Healthcare surged to displace t= echnology</b> as the sector receiving the largest share of direct lending d= eployment, in a notable shift. <a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUe= gA9BP9xvdML-2Br7TgrHS-2FumxQVjCkZY642h8JFRg-3D-3D6cvM_I3w5d9c01gkD8gLzFEofZ= R-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2= Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXq= tMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkC= Z9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0aRZvkTh0GTLRTxxSOs-2= FX7aDJaLt1jjtY1lJrg4ahJxki8LOb6WKI63vNFrHzEZUbdZhHsmMbhKcyWxnYbeWKPLJU457SW= TpItx4YI6OYQlG1ALWflhpTZ1mtsJmWYN9tZ6vPlB2yu4gmQMYl4D-2F8Aq78379ZGFwXaKTNF8= lPoRfrFkVtHmqbr5q-2BKk5mxcRSm5daIONo0bWUVrL5gKNQorVQW0hDFG7wFbzyjwdgrqxj4Jg= 2NPV-2ByCUfMQF8dq4HstlCrQzi-2FvMwVv1wP25YLY-3D" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true"><b>Learn more</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_579477" id=3D"n_579477" 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;"> Carlyle CEO warns of geopoliti= cal-risk complacency </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-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrPrlg8Dy= l80U7u5qMIxzmCA-3D-3DFis__I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= ZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmD= nb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BI= UG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx= 96I7pEZkbGJ5AoruVKgxnoaDgW0caSHth9LwN2xkmA1QK2GdFcxB78NQ0Qc6No88VtqzSW-2FjA= 8ULR5A6TvpYGygDkWf9wlVjtMYiG0luuzY8rjlQiPyWx5HpAMFj6X0XhndxRylXd6ufYvKdlicl= FL3AvXyxl4GYTGAZbMb7lnhs-2BVN4ZGtwWNhGDB5Q6Gk8jg7ZaykhgRIsESWl6k1-2BcXVx9-2= BOgpT-2FlJ7B1HCyJOI5pZgW9GHs-2Bz-2FqjchBmzl4N37pPXr8ti-2BJQDBUwSRr3GLvU-2F5= UHIciATveeh9y76EKy6uRow-3D" universal=3D"true"> <img align=3D"center" alt= =3D"" src=3D"https://img.pitchbook.com/news/73771.jpg" style=3D"border: non= e; 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">Harvey Schwartz,= CEO of The Carlyle Group (Alex Wong/Getty Images)</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By = Jessica Hamlin, Senior Funds Columnist</i><br><br> Complacency is causing investors to downplay= the gravity of geopolitical risk in the global economy, according to the c= hief executive officer of The Carlyle Group.<br><br> Speaking on stage at Semafor's World Economy= Summit in Washington, DC, on Tuesday, Harvey Schwartz said that investors = have "gotten accustomed to very unsettling geopolitical events sorting them= selves out," leading many to misprice such risks.<br><br> The collapse of Silicon Valley Bank triggere= d a market reaction seven times as severe as when Russia invaded Ukraine, a= dded Schwartz, who took the helm at the $477 billion investment firm in Feb= ruary 2023, shortly before the demise of the Santa Clara, CA-headquartered = bank.<br><br> Schwartz's comments came amid a day at the f= orum of back-to-back discussions on the impacts of the war in Iran, the clo= sure of the Strait of Hormuz, and the resulting spike in oil and gas prices= worldwide.<br><br> Ken Griffin, CEO of hedge fund Citadel, said= that if the strait stays shut for the next six to 12 months, a recession i= s inevitable.<br><br> "There's no way to avoid that," he said. "We= 'll see a rapid shift towards alternative fuel sources. We'll see wind, we'= ll see nuclear, we'll see solar. We=E2=80=99ll see huge pushes to reduce de= pendencies on fossil fuels, but that's measured in years, not months."<br><= br> George Walker, the CEO of investment managem= ent firm Neuberger Berman, said the US economy can manage with oil at $100 = a barrel through mid-summer.<br><br> "As it progresses into early fall, it starts= to become more problematic as strategic petroleum reserves around the worl= d get depleted," he said.</td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-bottom" style=3D"width: 100%; min-width: = 100%;"> <tbody> <tr> <td valign=3D"top"> <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-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrPrlg8Dyl80U7u5qMIxzmCA-3D-3= DN6Wb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH= 5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU= -2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8Gid= QtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgx= noaDgW0eAZtFiX-2BRH7vUKE3cHuw6r5-2F6B0wm90OhoBLBCsGmu46cWPNnWych1Q-2FbV4Jdp= NQqvYulkGmObNf-2FwMMX7EAC1WEHUQYc6JG5tLIByvSdpkzOTB1mDwWCe0DGPGaUN4ymmQjd7f= yshK58zih1FBVPyt6Kdtsj5leSRDTFOVNFqCyYl7929v-2B6FCkqCqSmh4TZwbQm4G3QLq4S605= 1jlImG1JaTvmyappH0ePXcio5NL8LEA-2FPAJnPT0hIvSOVK0FchMcoD9u7su-2BTAdEhjnYgg-= 3D" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-= decoration: none; color: black; padding-left: 3px" target=3D"_blank" univer= sal=3D"true">Read more<img height=3D"24" src=3D"https://fonts.pitchbook.com= /newsletter/arrow-right.png" style=3D"vertical-align: middle; margin-left: = 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUegA9BP9xvd= ML-2Br7TgrP23r145VjNryN9BD0CJwnw-3D-3D5Uar_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH= kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTU= BT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXee= chSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX= 09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0c-2F1zP0Axs8AxswmNAk9mukTtB-2Bo= Xkd97rK3KVEIn6nG1nlRPsL8iNDCR0x98NgBy8qwmHerfnZ59DfNdja7mwm2MEVa7ew-2BEcoY-= 2FXUBJnJvEbAhtDBX2u8NBZyd9uePK55e5GCkvikraDJCiEk8DEsYV6lKXuEBqrmHeP-2FSCJXK= -2FudsZvkndN3ZVttOM8lRmhLz9vjbKwehM4BtnYvX9cp3-2FYeiZLSfmwV-2BGLS0Hk-2BXi26= jenWUfr9rLldqbTAEiYf35rw97zDxMZbQi-2BLEWz0-3D" style=3D"color: #1D5080;" te= st=3D"" universal=3D"true">Crude Awakening: How High Oil Prices Impact Priv= ate Markets</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>Escape rooms are so last year.<= /b> In Catalonia, companies are sending employees to build human towers, a = centuries-old tradition where you literally climb on your colleagues' shoul= ders while the boss spots from below. [<a href=3D"https://url6380.news.pitc= hbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW= MDUegA9BP9xvdML-2Br7TgrtTI15v9WV85DYIgLfrWP0Q-3D-3DW9a-_I3w5d9c01gkD8gLzFEo= fZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg= -2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaF= XqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdek= kCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Q6giNK9Me-2FdD-2BK= 9WSYv2aacCyLvsEVbPmIfuVCByQoBmj3LB4oGAyEqLy2BeaC50OWLVoZJUjMUuF9GSBncfOB1Z8= zMX5rJmXg3-2BvWOkH-2FEb8Lvsyy-2BBHui9VKfHPLLrrL82iwUL73jkkuM3X2sQtKt9Y7ukBj= nsUtMSEOvHHWf9g2xVFpQuZ7UlCH30-2BCWm0-2BruMAIe1-2FGjH-2BMC1uTa5DwacZ3gquEC9= c1XUNFhZTXlYZPt9ObpAeWn-2BdtqW53xn1FN1-2BUnOhu3v-2BUbHnh4j8-3D" style=3D"co= lor: #1D5080;" test=3D"">The Wall Street Journal</a>]<br><br> =E2=80=A2 <b>A former Palantir engineer help= ed pass one of America's toughest AI safety laws.</b> Now, Palantir co-foun= der Joe Lonsdale, OpenAI's Greg Brockman and Andreessen Horowitz are spendi= ng millions of dollars to keep Alex Bores out of Congress. [<a href=3D"http= s://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7TgrkWx-2BrtEMfGUn0eNtRYIikg-3D-3DF= Aeh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5K= ie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2= FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQt= NVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxno= aDgW0Z0z5ruxJ1vqu7JbjAgu0OYoG-2FNp3KALQ1i-2FWYJxbV2Y88uUUKgWKWLGyfPS-2BzskL= U9d0Ow2gsvxdlHuDSF33BGt-2F1avcFEmjxuBs5WfOiv-2B01577b2K3yEyqnybXG6gOL7WrNAI= isqMoiMonAC7KSrPFUAvTngEfmv-2BCkC9Opzw3n1TjMzs0a-2Fq1OUWiphwQKRk6GvPbIVndD3= B2h7K1RyGj-2BNbNaRAkaytP22aqISRy4TAEX6bx90OJZshMsoA6iSo3KB5Njq7OmUE-2FGMpVj= 0-3D" style=3D"color: #1D5080;" test=3D"">Wired</a>]<br><br> =E2=80=A2 <b>Planet Money's whimsical approa= ch to economic coverage</b> led it to trade oil, make T-shirts and start a = record label. The NPR podcast's latest salvo against public media's funding= headwinds is a book deal worth over $1 million and a board game on the way= . [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7Tgr8wgEtYr1LKOl1= ibrHnK4kQ-3D-3DHMG3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AAT= XmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0= GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pE= ZkbGJ5AoruVKgxnoaDgW0bhFPcpSs6phllxDdVvsPYlQq1A91z-2B-2BTPqpgaGSloJuV7VigFh= b8d1yiZfNbyvQL4IYzTyoLHydega1fMuvdC9cih7EbcaDXs74xpNX66VhGOb5QXn31TcHEBFPKT= H9Q7y5ItSgC-2BGtDd3WDfQNEIAeJVT1LSiu71TgjN7M6eV8qfQwxn8O4ScSCVPnalnR7IV745G= qVTbBrCiVgqGIJzEKno-2FJSsamToiCWutYv-2BgyFkdUNaG6mrFiwpYLNJyOLGilnSWo153Jhx= BNt9JQZc8-3D" style=3D"color: #1D5080;" test=3D"">The New York Times</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;"> 749 </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;"> 2477 </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;"> 1277 </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;"> 22 </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-2BaqM7ONnvsnswouzWMDUegA9BP9xvdML-2Br7Tgrmgr8y4Fuy2kh8ptwctEx1g-3D-3DH= Qtg_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5K= ie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2= FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQt= NVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxno= aDgW0cZG3a-2FBdguSSB2xkSKo-2Bk0EWpjo0xzWwsFjoqGPIddvi6fmb3qkeR7-2FfGb9tLXkN= uKLIujqeaeYKifY6RL-2FpdWbY3g7e4xjUSIi4tE1vR-2FwFBxOFWhERwHbeRMF0dJ46nO7D-2F= uFoAzsHzqQqDJw-2BWE-2B9B5Mau-2Bc8n7kbWq2ZT1oyYNAAo-2B4JRKWHwsp2vBy2WV8tgwqQ= v7nLfm5D38pgdVxDZy3b5jwwwJK2r3w4ra-2FTBBKV4uFxUxJpBUf6-2Bm-2F1nzGMs2rJUQRow= e0shJUhYE-3D" target=3D"_blank" style=3D"display: block; font-family: Robo= to, Arial, sans-serif; font-size: 12px; color: #000000; text-decoration: = none; line-height: 24px= ; text-align: cente= r; padding: 9.5px 21= .5px; border-radius: 99= 9px; background-color:= #F79B3E; 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_579801" id=3D"n_579801" 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: 2021 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: 79.7883064516129%; min= -width: 79.7883064516129%; max-width: 79.7883064516129%; background-color: = #1D5080;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">15.83%</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">19.84%</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-cash-multiples" style=3D"min-width: 100%; table-layout= : fixed;" width=3D"100%"> <tbody> <tr> <td align=3D"center" valign=3D"middle"> <div style=3D"font-family: Roboto, Arial, san= s-serif; font-weight: 700; color: #1D5080; font-size: 18px; line-height: 27= px; padding-top: 5px; padding-bottom: 5px; float: none;"> 0.16x </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= swouzWMDUegA9BP9xvdML-2Br7Tgr37E8RrZkSgd4TDDtJ3nB4w-3D-3D1kDC_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2Bp= xdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QP= Wb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2B= ubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0RFmUmjmpI6wK= -2F-2BVmTjJekUteHcb1Rp6GVRrV1urBpByw-2Fj-2BEMGsBRNT6pe-2BpMw9XWfwqwyc7qy1YK= WXIq-2BlYeADX1IbRNK-2BoA9DI-2BPbW-2BIf9pn5BZCu28VaT8bYEzZGuP6IQYBoQwIF5bIc0= 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5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2Bub= LdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0dUAM6qWYUVKpDY= J-2BrrOrQvi7r0vV7ruOioBPMvJV5iNTqee9SA8pCpvAo5cTcsiOifsp-2B5TVxIPvLKy6RNgGy= i-2BocfMoZ1jcuzycSTqcYy10E-2FVmlJ34x-2FjQsRmLKVI3r7iCLukC61ecRIbpcSYgTKddPa= SNA7jM3oxxJ-2B-2BQVxyvem1k8XzZt3YEk-2BFC7zSDztuwy-2BQs-2FCt5wxlWWMCSKEDonOC= O81aMcO-2FR4GSOIILLKip8WSQN3X0JWkg3kOvkFuYx-2BFPJX4C2WJKmz0GXX4-3D" style= =3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true"= >Banner Ridge Secondary Fund IV </a></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzVBkuYOcfnMd7PHADB4Pqtd2A94E2PyqXIAzp3mjEaMeA-3D-3DtJF2_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2Bpxd= SdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb= 5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2Bub= LdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Sb41KWITevHH6n= WcM0ElCK7bXWHrq27obkq0IhdAma3AVL4w0SA9tSP5-2FnSm-2BeOT6KaA2xc9jdkB1DJ0lprdJ= VXHtUCtui2VmGyCFDMFeOWPgD5SSK4BH4GdKOUYwvqZ6Jf9aXVguV-2FnMpSs9HzFkxaNHaTLDL= tCQGOtUAPF65JzsfEPMyvoNMP4J42z-2Fyraf39vMIQcJwDuYbXGI3crqrPvFq9tmViau8P-2FC= gIT43I3A8-2FX-2BCec1ZK98jrc8-2FvfbM5anotZEpWv2UdFaBWlfY-3D" style=3D"font-s= ize: 14px; line-height: 24px; color: #1D5080;" universal=3D"true">Patria Se= condaries Opportunities Fund IV </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-2BaqM7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdJ1-2Bc= Qk8sM-2FzXBVUf-2FjeUpg-3D-3DJnY3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy= -2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgG= SBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36= eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-= 2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Sv-2B0YOihahhEDbuo3nhndoI4XaehKFEOtrBuJl-= 2BO-2FHmt-2BMo4yhfbos0PDQuuKo6m0OVjgEHwWbHUyBAG3J-2BbxHVmHI33I5kGWecs473tds= FX0K2bU65UGcmrxRlCzqvPu6tHdlIO-2FLBQVcdOBsaE5EzDWBeYVLYC2uaqtFogKBn0qg8mQHP= tICMEAi8fBMis7ju65Tuh4hqEsoOvDm7mPWt47hICsyEPfthSFeImslVmRy4dcm14m2QkGoceU6= TwH57ByJxOkiKemWJP26kWE4-3D" style=3D"font-family: Roboto, Arial, sans-seri= f; color: #1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" u= niversal=3D"true">28 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-2BaqM7ONnvsnswouzVBkuYOc= fnMd7PHADB4PqtdGdQqk5hsDsnvvsc9CkIgKQ-3D-3DFyPC_I3w5d9c01gkD8gLzFEofZR-2Bh6= VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aH= 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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-2BaqM7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdOk7tVb645hVAPzNHQ= 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M7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdLjcMOElPgHa4EzAUoecirQ-3D-3DZjLo_I3w5d9c= 01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRq= Sz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2= F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJ= raa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0VNhoiw= 9tQ4-2F-2FvNkO5q-2B1hzwUeyKwA6UP-2F1yqd-2FHHv9z6vK-2Frz6IF8-2BH2sYFG5ci-2BS= 2kFN8fvJ5ZCcWWfwHG8A7mf-2B8fPqo-2Fgk-2Fbn5HfCyBzlBpyUxSMlrXs7OOFW5FQ7Z9P-2F= Jz8e-2BqG-2BEMfNP6MRsrCKYNz-2BTRnf5DGVUJkDs-2BeJmKL-2BuW0XS-2BcuGFxE2v5DBbo= YzEr1JvVP5iaDV58PcM4-2BAqXdXPeb9HhOt9i0TAuJw-2BFS6gAUjV5NEEfkfer8aQ3tr7QToK= 6lF-2FuFtfKLr4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">S= ygaldry Technologies</a></b>, a startup developing quantum-accelerated AI s= ervers, secured $139 million in combined seed and Series A funding from <b>= Breakthrough Energy Ventures</b> and <b>Initialized Capital</b>.<br><br> California-based <b><a href=3D"https://url63= 80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B= aqM7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdB7qgXMlluBBkP0ZqV3g0pA-3D-3DjUlS_I3w5d= 9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWC= RqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL= -2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoa= aJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0frMO= C0BtqoJV9PE09MRD5TsnhECG7p2j0177Uq2gm7JMwH1K0mn-2BPMwetWyVmseJsVXy9tVGRCQxs= SEmWs8-2Fgh-2B4GZcqSiwK3DoqHfwFeNY5xsjknT200y-2BJwweYwVMunHacJtei49MCgz1y-2= FnOrT4vKjbXTtePWfsOaRHOS-2FzkbFvt61sucHH5mMGrQzmE1LsAvBuumFJRxQEa138drooheM= wrtsIXaVpP-2BXFFnEiqDA0rvZqwoBPRIqd9L8-2BfQ45VbkzUBG4S83H0bQ6-2FGj0-3D" sty= le=3D"color: #1D5080;" test=3D"" universal=3D"true">nEye.ai</a></b>, which = is developing optical technology for AI data centers, received an $80 milli= on Series C led by <b>Sutter Hill Ventures</b>.<br><br><b><a href=3D"https:= //url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzVBkuYOcfnMd7PHADB4PqtdTqB3raXN8UwloWGhJOCOMg-3D-3Dgm3= W_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie= 4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2Fs= uH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNV= c9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaD= gW0SzdgYww-2FGh6w90M3OcDYdDlDuSpnl-2BksamFEFLNbeSVeJN5XAIXq7-2BnGD3E7ethQ5i= oJWADKS9I4eIVEBuZef910w7ExTVRSxixP1i1tYsyoSCMs8UN4nb-2BMWcWKe2BUDkxGalhSdE4= yn3EqzjcZf5gMrIulw933xJd72v6Ekeo5BfxbsvoRLlIf-2FDX-2BezJruPqu2N8DXCvaxuMMYj= BSXfYx0ftKQPK7vGYLCNhWiQ5Ilm6ORelLnN9bfeW1A6TvLfr8MHOvRvFAerhyyVvkqk-3D" st= yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Adcendo</a></b>, a Dan= ish company creating antibody-drug conjugates for the treatment of cancers,= raised a $75 million Series C led by <b>Jeito Capital</b>.<br><br> San Francisco-based <b><a href=3D"https://ur= l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzVBkuYOcfnMd7PHADB4Pqtd2X377c-2Fo-2FRKjUdEP-2BPnerQ-3D-3D8= hQ9_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5K= ie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2= FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQt= NVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxno= aDgW0XCQvxhcVTecDwlQBkwWoa31LRuQcSvd2CWlDL1cBarSsel73-2Fy2RBKVFHIWd70gDrRHZ= GLms-2FgXH9JkNL-2F7cz-2FcysF9SGFJXUe4AJTThWp1hbUE0gUo1yakIYkNU3MFl8HQaRki0H= G79cOsL1w0j4-2FSEeCnXwPTJizexhqU24MjGvtlmeVK-2B6CjQ8alMby38jtc1S-2B0lNe2wGS= bv-2BDwyhkSib6XRwtnQFfx5q4iab2vhQD2tAa93qeq7un6XEB7LX9UMEGgKYytv2ZQnGOObmU-= 3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Mintlify</a></b>= , which offers a developer documentation platform, received a $45 million S= eries B at a $500 million valuation led by <b>Andreessen Horowitz</b> and <= b>Salesforce Ventures</b>.<br><br><b><a href=3D"https://url6380.news.pitchb= ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou= zUObGiTO-2B86VZWWwgNkk6X3FZsLMJnBssg0cEA7AOqxBA-3D-3DWAAC_I3w5d9c01gkD8gLzF= EofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSd= Jg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5O= aFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLd= ekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0aRNc5ASqbEj9ee0K= 5hUVnxF1mf7Pj28NQxShR28vpmSjDNwyGVvixlpi19qVAQ9YOFu0RatiRXeUvCB-2Fny2TzBCOa= CWqRpeAQwzYJmyWkAFDbbja220UU3cKGeDzgSRsnr9kwdzgrEsFyZdkzKiNtDZ-2FKU5-2BjXn9= D6mrGYCA4wxUonL0pLUoJpMpbAiai5iuy8cq9UidWLq5tYiRRAxSv4oDT1bmTJgbFQxwwgAbsTr= leQtSGvToZAD64ExJgic6CeB1R0jXvwxiNbV6Uo-2Bsi8-3D" style=3D"color: #1D5080;"= test=3D"" universal=3D"true">Bluefish</a></b>, a New York-based marketing = platform provider, secured a $43 million Series B led by <b>Threshold Ventu= res</b> and <b>NEA</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook= .com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUO= bGiTO-2B86VZWWwgNkk6X3-2FsGAhAU2tcyFsSEBvU3-2BTQ-3D-3DSuPp_I3w5d9c01gkD8gLz= FEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdS= dJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5= OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubL= dekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0RXGxXV9rBnLL-2F= SHv-2BwhJCC0SKB0vINQ9LLFF9WAgHvIRAQIDLZw2Eshndfptb2VzFU540Dfl44YnYPQv1Jlk0J= Ajlq3jY5W7fQhHhF90FkcGb1LMKizJGLYtbqFLfXj2eMKprTcIGZhjoESV1iTinj8ymH0Rxeeg8= DEIyc6YHcrZLEvHKw1XHt34qgEDLK4K-2FvF95o8lr4muzUfbUpEgnlxsoMDJxebTtCgK2kcZtt= XijmHcNa91ikh4XQj6LdVxyztTBL8qQHAKFU6OdlA3KU-3D" style=3D"color: #1D5080;" = test=3D"" universal=3D"true">Synera</a></b>, a German developer of an agent= ic AI platform, received =E2=82=AC35 million in a Series B led by <b>Revaia= </b>.<br><br> San Francisco-based biotech startup <b><a hr= ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C= uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3PxAEFlDkuQ6MDXIpS= -2FMWHg-3D-3DPY87_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU= gFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXm= YGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GU= tjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZk= bGJ5AoruVKgxnoaDgW0foTHIp6ytZgTazs4omX9ZcJ3QRotfoKEC-2BtDv1Yip3lX0OE5-2Fj2L= Awg2Nr4oeFOynP52XnOYYgpMCEWGpSfIC-2F5ahIMuiJXf6qPk4zJtwK5wjvY3IEvDWJBqTACei= rT5AtJvWerjKZKwBBzNbuvbtVgOxocGmbdfaPAwwOhS-2BhoT3Fpl04tfLTQ8T-2BEWLmrpZrqL= jYnSrWw5JuErzxK-2FWBCN3allmYdkwZ-2BzSmNuogF3LzhUqQZ353I5pGRT39vMAI9lE6BEFyU= OwN03LVuqFI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Spir= al Therapeutics</a></b>, which specializes in ear disorders, raised a $27 m= illion Series B led <b>Gund Investment</b>.<br><br><b><a href=3D"https://ur= l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3E9H5CHn8lXgF2H6Y5Tz6nQ-3D-3DER7D_= I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4Q= wFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH= 0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9= LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW= 0bjGoFkl9tocXUCYQasILQSYtR2q-2B7WCJUx-2Bk3OakF-2BcDW4-2B0FL1fIGMnandJKaVQxE= hqhYg-2BtD4OYW9tf2MOmdjWwhSdCcohGmeqCGzjO5hGrKPLwnCmsZ9nZU3UmY2QruwIQp2x9cE= 0rlFV1n6XRaauzDQEhFgbezf4xE3-2B0PttJQCI2ndLMRTqOSfapCA3yfiwV1D-2BHq18Gyvrjf= 45Qo-2BqfNpAU5SPFdN60feOAjj57-2F9nPn8BXqZbOcmVyuC0YmmtRKC3R0OqVrJ0j9GO3k-3D= " style=3D"color: #1D5080;" test=3D"" universal=3D"true">Kelluu</a></b>, a = Finnish deep-tech company operating an autonomous airship fleet, received a= =E2=82=AC15 million Series A led by <b>NATO Innovation Fund</b>.<br><br><b= ><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7= 3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3ezZUGzr2gYD= LCzl0FxuChg-3D-3Dnvi2_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb= dWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2A= ATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2n= W0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7= pEZkbGJ5AoruVKgxnoaDgW0XWCAykKCY3oZk8uCaBqCTj3yLDZuqzbheuCkDXvirymT9g9At-2F= 6YikBoUPRA-2BG72EoqiDdVHV3zDkCd-2FNF2eYB6a9PInQNLP-2BZMBQpRuxGB93b7ecyoNev5= jMlEVgddDlCzS2Z45bkX34PkX3zXrMdgEY19mbLct17FReYvMedUZmXwNG-2BC5ySd6jq1sQNDx= vYQb60DwFW8hCr1q4f-2BG6DItXDlgNFyjFU4reT98IC46triOb2s4cMCFX1ctsvHGCw82qyrHu= oYBEKxbGnZTcs-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Wa= mo</a></b>, the UK- and Finland-based developer of a finance platform, secu= red =E2=82=AC10 million in a Series A led by <b>3TS Capital Partners</b>.</= td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>PE Deals</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>TPG= </b> agreed to buy <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZ= WWwgNkk6X3B3xvoqj388rGA53VgaRr6w-3D-3D8wwU_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH= kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTU= BT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXee= chSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX= 09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0SsqDYxRkylB-2Fij6G29JIqXY3zvsBv= 8NQfpAm7E0jvQ5zS-2FMe9t6zz5UpqfSXifzPIzHeaWWxau4b4lvOjJkLm3pB4JcpRb8RiqZXuC= 5g6DTlSbKutExR-2BlVGzw-2B2Bug4zNhypLtw2VpV6rGwcW-2F710yMpojGG9WrdvGXzxxuD2d= -2FFs-2BHYFTGLaePdgv0dYlHqQpfuqjMSIrvShcXsJVJrvLRtSEqGw3oKyJSZMa9D5eM3yvA48= uqEXg1hIJdyNn5xN-2Fyb3Irwb5fGR9ZGezoKo-3D" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Learfield</a></b>, a college sports multimedia rig= hts company, for $2 billion. Learfield was previously acquired in 2023 for = $845 million by <b>Clearlake Capital Group</b>, <b>Charlesbank Capital Part= ners</b> and <b>Fortress Investment Group</b>.<br><br> The winning bidders of a $1 billion sale of = <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73= BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X37tcKC3DlC5qk= dyclsW9X7Q-3D-3DH9Ww_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbd= WeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AA= TXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW= 0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7p= EZkbGJ5AoruVKgxnoaDgW0eHN87DGK74sQZSGrNNM3wWgRKVh9-2BhXi-2B6GP6wgZfn50lie-2= BHM815xIgCtwuA1hhRJNzsvrxYHPc9eDWAeXDCqHcMgkWoc38zdoSPJZl28pXF9EagCgAT4XOQH= ej7Kk2J-2FvxkYuwnwlip0oqFvjx-2FvnUVVYJR6Cevajnch6At-2FGfkLp040tB9os7k7QdEoC= dE2lOy6ixD7RGu0QZb5-2BtQWn5RjuSI8-2Bu2Y-2FuiD4OWV8dxmwykAd7SZcaxJpJ0Du4rD-2= FJawafdg7FC3AIPwyL1k-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue"><b>CIC</b></a>'s private equity holdings were <b>Goldman Sachs</b> and= <b>Ardian</b>, Bloomberg reported.<br><br><b>American Industrial Partners<= /b> is acquiring NYSE-listed medtech company <b><a href=3D"https://url6380.= news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM= 7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3ImX9HX4NhBjGWcULZtVO8A-3D-3DowgX_I3w5d9= c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCR= qSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-= 2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaa= Jraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Tcmze= EOxq-2BnkCnjftesoziyRfyNUlOD2NHfT972ZUrnUy3-2BoxU-2FfQ-2B88-2BDWVdkqSWitsoF= wWWmDzbCAdiw7eh1qHkgsr3vZYm8-2B0bJQPqBfvwkfVExgVjrVguUhkM1hqwgE56N2x90zuya7= 3IMtq-2B5lcNWNILHR5lA7G3cQ0pQI1dQZaxEtw1lEWmsve64K0J3o7fauHn9J3Wc7tYfxLn8MP= fh7R-2BOUbxYcQ77c-2FlgKPhhiF4QcNkrVA7W3sPyAyiq7sBgU6nYSImAE1rtG-2Fik-3D" st= yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Avanos Medical</a></b>= in an all-cash transaction for $1.27 billion.<br><br><b>Blue Owl</b> is ne= aring a deal to take a minority stake in Paris-based <b><a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3-2Fz4dioAwFdKMTDFsV4jZMA-3D-3Dw= qv8_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5K= ie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2= FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQt= NVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxno= aDgW0WOox57FHkQCot4LsdSmh7IxyukHDTodjeLCSjbNLjeKorCfWeq9-2BiSte1EXmWt6QOQks= jrYSfgCkLabmTAHQ79zS48iP5-2BSMjYPb7Kj8fFT1ca14tXyRZMUdi5xTtKMWRS4t8ZiYu2lVf= AR98RagEpIc2qCR1G3oaMOEIq7evQ8nfgZKYmQ2aTRq2BxKevyCyCbiQ8FbeVeIbKxjL6CbFlyY= IlrxEv1-2FIBZz67aEHK9SuP2kJm032w6tsFhvITNrcszW-2B3MYGHwd3TViWCRGMM-3D" styl= e=3D"color: #1D5080;" test=3D"" universal=3D"true">BlackFin Capital Partner= s</a></b>.<br><br><b>I Squared Capital</b> and <b>Blackstone</b> may put in= a new offer for the core advertising business of German media group <a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUObGiTO-2B86VZWWwgNkk6X3NdlOk6mF-2FzEcmR-2= Bz-2BjC33A-3D-3DrmJt_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbd= WeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AA= TXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW= 0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7p= EZkbGJ5AoruVKgxnoaDgW0afgSDwZCpG3nWT-2FHh6lle72JGupC-2Ff3I-2Fh7XSsX-2F9VbLb= oSQMFh16Gv2Tkmbbx-2BKpR5mvTlQZIfnD-2B82SwQ7f-2Bq7SgBT0scvAnHC2kTHtMIPy5V6M0= xvi39RLPmPBwmRgqHfosK7RxQtnIsq-2BMffQsitpWZ81J9n-2FH3UIsJYPvEGQs9aAJOiBzOmC= aCwiSN31tTaWcmVEA0p6pX4qjO5JAmUZ70KYpyg-2FitVKw-2BGC4FTfDG9YUyvK4cXiv9NMk-2= BzFyS2lcLpKA6vmykbFK5nJ4-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true"><b>Stroer</b></a>, Bloomberg reported.<br><br><b>BU Bregal Untern= ehmerkapital</b> acquired a majority stake in <b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzX3H-2FBob4327-2BNtX00javMx0N-2B0EyTgU59ql8qMETorkw-3D-3DZ_ZZ_I= 3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4Qw= FZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0= feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9L= rWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0= fQnEZK5yjXXFDOKIvkqs1QDYf-2BAN5RPWWfHYIb0UKLTHyhcZZ6XBgQ4kmUzOTjX1OC13Y4pqU= yJcmMkTHIs4u2ydjv45ByPaFLtvVDKGMJ-2FQ8Nlu3O0PXleTJwlD1-2BsgTVVUMPY-2F06pkg3= Y7qKn3l7pFy8zvkUPUITEqCi3nUkSwSVRfWX9xlECA0c3w26SOBkW8x5MKx9uRupyVtwyKMUf40= cj-2FPngGzWNvb2yOeng1xj2-2FrFJOtS0Zjf5op6hqESaDgG9aWY986RcGjiunTo-3D" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">A. Eberle</a></b>, a Germ= an measurement technology provider for the energy infrastructure sector.</t= d> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>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>Mub= adala</b> is in initial talks for <b><a href=3D"https://url6380.news.pitchb= ook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswou= zX3H-2FBob4327-2BNtX00javMxVLYLSqpI1w-2Fx-2FbjCB67VpA-3D-3Dqpx1_I3w5d9c01gk= D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2= BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4= QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-= 2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Qu3JA3Dnag= -2Bxed7yFv3YV5YD73zLX6uMvggJncb0IWgFGIniVPvplqk96G7yol6VNFvDep6FellM9571iUZ= Yn194t9s66INZP858jqIwMJZfowgGo5LNqyc1OkyFa484-2BO92HXszkIw4I-2FrJWeQ43ZHOxq= oklPxQ8weMiTHE0Agxz-2FYGP0A1UEJtTJTYIMtEtJXiLKmrZDaA0xxF0LUNjY-2B5w0cH81I5B= ullM1N6z9nyTYIqHtsjVuU2qXv9zZbgIOe861lDrpiPSCTGUScpGc-3D" style=3D"color: #= 1D5080;" test=3D"" universal=3D"true">Petrobras</a></b> to buy back its Mat= aripe refinery in Brazil, Reuters reported.<br><br><b>LDC</b> exited its mi= nority investment in <b><a href=3D"https://url6380.news.pitchbook.com/uni/l= s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3H-2FBob432= 7-2BNtX00javMx8tfAIlOGzCaBE-2Balpbwqmg-3D-3Dn0B__I3w5d9c01gkD8gLzFEofZR-2Bh= 6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83a= HjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZa= x3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8h= etGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0bLwi7l7UEoiGLQRlUffU4G5KT= hMz2wLj2U3BiIglz3owhA0TqpwlPwpi4ZfeA5n0Xh1iFB7G5mzbmjSvdzA3-2BFoZviLshFVQu2= vBk0wQXLHvYG6IZGOMAbS8Uksvy5-2F0wu3ZVE5JPGxYepAgCJjFSKUrSSF8LKB6FZwoYARxneG= lQbDv-2FLJpEJLVc9qwZAZAcpScZ-2FVTZT5FSEYoDL7cut-2BYX5sKHG-2BFV-2FmKd1ONAbcv= wB9OhRB50ZM-2FptSUrJtUfgWuK9ab5tvusoOKQ9Npyc-3D" style=3D"color: #1D5080;" = test=3D"" universal=3D"true">Global Autocare</a></b>, a UK-based corporate = vehicle rental and fleet management service.<br><br><b><a href=3D"https://u= rl6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GF= a-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX00javMxz4FhkKOfobbfhPM15m748Q-3D-3DCl= mW_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Ki= e4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2F= suH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtN= Vc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoa= DgW0R5yqfLriWyTvTvV6Dm0AyTeqcLfkJqKsLZRaiFSdFeX-2BZ9XtKB-2FrY1o7fQKh-2FlwvD= S7txjavGk2goF77rwGFyQq3HeiL0kuiEk-2BawhgJkVkKPQC9yLnSiElb7yq8X1-2Bw6aq0oUkh= 35oUzwzcjessvd4eWPvKJXQAYLiyw2ACo3EN-2FR9Vh1qmkN1gSgjiylHPyzArc-2FwCBAZLVIa= FBs4UWimvIW5kOPzxGjacDqvoOYhDrU0xm9Y5n7XFa7DiMNI-2FHZZ1X2-2BQkakaUVE4l-2BpB= l4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Hiro Finance<= /a></b>, a startup focused on personal financial management backed by <b>Ge= neral Catalyst</b> and <b>Ribbit Capital</b>, has been acquired by <b>OpenA= I</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click= ?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX= 00javMx2ZO7525Mew3qXLrsf-2F-2Frtg-3D-3DgCYa_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar= HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDT= UBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXe= echSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgf= X09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0ViZXD0rX3Yh1BL34nYTvJQc1WhLgWT= n-2FuEXmuchrxYGwirwyIAU-2FePRmZXEBTt-2F-2BiINlGfNXhSq-2BITWv8uecAFRl82DV0cP= 7F0z7OP1nPNsNG5oI6RYGPDZL8EU5p-2BazVgK82xs4SQ2QiN9gM1kbF4xHfZDsDMQYurtHraKb= FwFGXFa-2B02QfWypYGGVnUCO1FemhGrRPaIGUv8t7-2FXXmMfG8TDMZAwP-2B7ahOZvPAQgNxn= fFGAMmTc9OZzb1hkdG2LZvSM09YF-2BETPQmsxSdCz4-3D" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true">PartnerStack</a></b>, a relationship management= platform specialist, agreed to be bought by <b>AppDirect</b>. Both compani= es are VC-backed.<br><br> VC-backed <b><a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzX3H-2FBob4327-2BNtX00javMxsB6ZV4hJy39uj-2BiyAjJ0SQ-3D-3DwZsI_I3w5d9= c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCR= qSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-= 2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaa= Jraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0WFGIZ= Ee-2B9ncr8QINm2-2FT-2B3HIRjLRsyKWTf-2B-2Fgyu-2BQlnAmf5p0dIskKu1A02hUKWOIi3U= xI2BclEfI6GMZ2NoKIQu9NY-2B3TWHcKfbDYI0NnwUqUMEQtzZClEe4pxily6wtB10yvkeRdeSH= 6NdXpszMegCvp-2BUZ8TaZ8p4yLdYuwOrNf9QEPn902b87FG80FXNkK6lfmEy1BCqQONohNkDad= HbUWjmYqyT2wAVMJ2rA0fZrO5YAR81wX-2BhQkXGPV-2Fd4RVVBwwUTPyTLTAoMAPHCo-3D" st= yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Monarch</a></b>, a sel= f-driving electric tractor startup, has been acquired by <b>Caterpillar</b>= , Bloomberg reported.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Abu Dh= abi-based <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX00ja= vMxeLmY94gZgFBRB4DGUrEeKg-3D-3DcIPb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf= mzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2Bxt= UgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2= F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71J= Nf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0dDVzeT3zL5X96bEcs4KAWTBNXIHmQieezSZdss= ralm3PNW15NMp6XHidLbrHlFZSeiXYIWhkZSVXuHyo3CZ0U20tg4MAFH1YeH7zjbrdesWJMQKVq= qz8lGrHjhLBVYTc1nkYxKQF4P90kjPmhf33lKGJPt2tuBwMSpLT1szxY3-2Bm-2B6lfkOeENjOC= L7E9WzmABwe2u6UcwYp31wTIqM-2FFhK5aoq1-2BnmAxvqDsXEV7JhjeLiegjB5OJjmOmdYxN-2= BulutZW1dMF435R1MEklZgyVc-3D" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">BlueFive</a></b> is planning to raise $3 billion to invest in aer= ospace and defense companies, Bloomberg reported.<br><br><b><a href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX00javMx3SE-2BkpQOj2xBgundJ4ztIA-= 3D-3DTHmh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8P= zsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu= -2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx= 8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5Aoru= VKgxnoaDgW0aoEyc8T2PsNiq6ruVqdsqlDdXhSuim6v-2FV7ejiRynanj0IZTMzsjEbRzObFoXb= Eq9DxM6P1EFWMo1grj2On27AdfrhERYLYl9GaOWV18Q6LSyF2EJ7oBMxNDp1-2FehcAcyDwkPHo= XklDTdcLjHeVl4pD9PkQFOvkM-2BqYCh0UnlDrOH1TB3BnE3znh-2F37JxquqBVySya0Gk4zEz0= J7vq6b9lltlEUR0919q9QavRkq7W-2BttnGiu79W-2FxXRKVq4e7QLxbmgTZPj4hbTQdME-2FXp= 4oI-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lightyear Ca= pital</a></b> raised $2.5 billion for its Fund VI to invest in financial se= rvices businesses, The Wall Street Journal reported.<br><br> Paris-based VC firm <b><a href=3D"https://ur= l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzX3H-2FBob4327-2BNtX00javMxLfjXnkuQdl3xQJT9aSXz4A-3D-3DnMn= D_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie= 4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2Fs= uH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNV= c9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaD= gW0T6Vps2YPshsOpkAghmIiFQGFNN2nEqHrqLPqrfUTFiIYEbx9pbVYmkSTMV9tUZ24t0aHJk-2= BSvCct2Bg50UpfhwO8EvRfwqbGi6lPOflr8eoFM5IateEsmlu0zfSyJVpvW1qrwyaQ5-2FWPuFQ= f2jkdMqz0yEqiZsaR4glYXdcGyB-2FNAgLcvgH8STg24E9s8n0Jj9Pm6s7vgqPzM-2FbNulc6Gu= nMvQ2xU8MH3SkXHPKjv7ilbRaNwCA-2FcOvs1H-2BCe1XgDdiId3sMeDgm1IpHEwUQBY-3D" st= yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Newfund</a></b> raised= =E2=82=AC60 million for a vehicle focused on technologies for the treatmen= t of brain diseases, Sifted reported.<br><br> The defense giant <b>Lockheed Martin</b> aut= horized an additional $1 billion to its VC arm <b><a href=3D"https://url638= 0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba= qM7ONnvsnswouzX3H-2FBob4327-2BNtX00javMxpAJ49b2HbIwU8SnLKecCHQ-3D-3DIuEV_I3= w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwF= ZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0f= eHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9Lr= WoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0c= 2PhsfNbKwxjS-2FRNbmnxmgh92zPRHI20QTcyNOiSsDajRDgsur1k-2B5Mrnw1Vy9N21r-2F3kV= nkrTYlPp7eoE7fublDAIr8hqRZcv0ZBo1v-2FYcOM9mi5UTHvS-2BAK-2FFXhSqXpAUn2xk5e4V= IyFIwZe4SZ1HYMCHITBZ1AWP04PaHFCdsYkJqScRLtYdF84k6LG-2BmJzD7v7lWHckS8dydR3pr= AenoQVe7INFW2-2B7xYTOG-2Fx7GVdVga4wniXGVn-2BO6avlf92Qd7oaL1EpixtEBKGvGYs-3D= " style=3D"color: #1D5080;" test=3D"" universal=3D"true">Lockheed Martin Ve= ntures</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>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-2BaqM7ONnvsnswouzXh14h6VMDklYSFPKB8xhNQNI7nF8bOV= 8eWrEhIwI1t2w-3D-3Ds-Ze_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb= 2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG= 2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96= I7pEZkbGJ5AoruVKgxnoaDgW0SxrVcofSeZxur79JjLvgGNDdlmWo22BFFq-2BEvEVLnq51r6ow= qM70wSKqNs4dWLDdw0QRg91BaQA5aGy-2Byv6nXTLUd-2FuRfVUNdAvMcD1Rp0r2gooeXATKi2S= 6r-2BbLdsKhLBcV7HH0XLlu6mHzRFFMuVdNpUHJt2Yh-2BWcz1H-2Fkv8O7Sfw-2BqY-2FCsc1N= sYo9KWK-2B1Sc9QEuLdXsCBsb45LCcRh39DQDHTSL7DAUu88L-2BQRE1vnJKCDaspHRh20mUiTn= Z7C2H3Khd32KtlYh8XyoSro-3D" universal=3D"true"> <img align=3D"center" alt= =3D"" src=3D"https://img.pitchbook.com/news/73774.png" style=3D"border: non= e; 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">Club d= eals increased their share of total deal value by almost 10 percentage poin= ts relative to the 2025 average, reaching 43.3% in Q1.<br><br> Source: <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzXh14h6VMDklYSFPKB8xhNQ1kBtxr2a1QEh3E3GVf-2B26w-3D-3Dj98M_I3w5d9c01gkD= 8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2B= pxdSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4Q= PWb5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2= BubLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0Ww0mNjGAFQq= u-2Bl9YXXrVuo0l5OqTcrG4u3neCSu1TtyDFxhJk7bTJxyTGUm6r4nwCJRy7rAnSgZd9-2BvWHU= wgl64BOVEDZ7ILkZHg2cbrEFiZZFGE07ISNL5MRookdNoOtyCRPTjgm2xPdZ24-2FW6aj7rs0M4= EwNH1mmbv-2FJEYtWvmmrUA3fTCkRuUfErmf-2BReHfIsf1QZZibH6O7llPwGjxLey5KqH1vruM= 5QGw2vbiwrRSA886XD9yOUTrTKxemNAvqtEj0v4ST-2FOvjnR1s9Ic-3D" style=3D"color: = #1D5080;" test=3D"" universal=3D"true">Q1 2026 European PE Breakdown</a></b= ></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> </tbody> </table></td>=20 <td class=3D"side-bar" width=3D"140" valign=3D"top" align=3D"r= ight" style=3D"padding-left: 20px;"> <table lang=3D"x-sidebar" align=3D"left" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td> <table lang=3D"x-sidebar-block" width=3D"140" cellpadding= =3D"0" cellspacing=3D"0" border=3D"0"> <tbody> <tr> <td align=3D"right"> <table class=3D"desktop-only" cellspacing=3D"0" cellp= adding=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding: 0;"></td> </tr> <tr> <td style=3D"padding: 0; height: 20px; line-height= : 20px;"> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> =20 <tr> <td> <table lang=3D"x-footer" width=3D"100%" cellspacing=3D"0" cellpad= ding=3D"0" border=3D"0" style=3D"min-width: 100%;"> <tbody> <tr> <td width=3D"460" class=3D"container"> <table width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" bor= der=3D"0" style=3D"min-width: 100%; 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color: #1D5080">About PitchBook</a> | <a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzXh14h6VMDklYSFPKB8xhNQEGC2Hyyc6iYU2H4t1FUXPg-3D-3DLf3L_I3w5d9c01gkD8g= LzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2Bpx= dSdJg-2Be83aHjRDTUBT-2BxtUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPW= b5OaFXqtMTZax3QXeechSno-2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2Bu= bLdekkCZ9U8hetGgfX09Nj71JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0fkf1RyfdZwUVY= lGn-2Fe9Ibz5XOP5GwHObqZBJnpz12uDoBzDA5mUwO2c4iFqnbm0UW0l4lo-2FigL2mJDZVYvbs= YK8SpBY5qwy6pzwg-2BmZVanD87u8bPbc2KpuelHm-2BnpCDJFdwmrb7mWYHF2tTz-2Bn1mjXec= wI4tBwvqjJ6KBejmvhdH8z3gODKqinNo14nkhz6-2F7UhwPoUiYQ5OCLGBr7KeBysisrDbvSaa5= -2Bk-2F8OpmF22ZBIb4In1arF78DlWieFmcssOfOdekakhygyeFl8fIA-3D" target=3D"_bla= nk" style=3D"text-decoration: underline; color: #1D5080" universal=3D"true"= >Terms of use</a> | <a href=3D"https://url6380.news.pitchbook.com/ls/click?= upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXh14h6VMDklYSFPKB8xh= NQ6Ui3ax7N-2B3IZz49DjMfRjA-3D-3D8Zao_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFC= fmzy-2F3t1yZbcbdWeUgFVa0m8PzsFH5Kie4QwFZWCRqSz-2BpxdSdJg-2Be83aHjRDTUBT-2Bx= tUgGSBRGkmDnb2AATXmYGjx4rdu-2FU-2FsuH0feHL-2F9w4QPWb5OaFXqtMTZax3QXeechSno-= 2F36eqn-2BIUG2nW0GUtjEoiELx8GidQtNVc9LrWoaaJraa-2BubLdekkCZ9U8hetGgfX09Nj71= JNf-2BWlglx96I7pEZkbGJ5AoruVKgxnoaDgW0fM1iSh14Hig20Vu3G4aSx-2BbNM7CWIB-2B9X= f-2BVb34Msn4tnIrYJVDtXv5MrWLvIRZOtLxEd-2Fn7nvQSm2E-2B6uiqLn-2FHEdIBgSEabWPp= M9XvKFK7bsaFR-2FSJkt5NnRT8AMD6kgM0mkUtGkZZHjRAFdB2HPIRMSdyBlpIdqUq3arNWYeLF= NrmACbr2-2BPNruf5a621IT2ehlYYhXpczKUUOhNvRYGrJR9a8RG-2FOtlBp61YBKYhh6YfV4FL= UgYkeJFgHLQ7qCtkWyGv9dkmbP12-2BUYgV8-3D" target=3D"_blank" style=3D"text-de= coration: underline; 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