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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 Some IPOs are roaring back; mapping corporate investors' big AI plays; agentic AI's inflection point; EQT's new AI infrastructure move April 22, 2026 | Read online | Manage your subscription The Dail [...] Content analysis details: (3.0 points, 5.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- 2.5 RCVD_IN_MSPIKE_L3 RBL: Low reputation (-3) [159.183.175.69 listed in bl.mailspike.net] 0.0 RCVD_IN_DNSWL_BLOCKED RBL: ADMINISTRATOR NOTICE: The query to DNSWL was blocked. See http://wiki.apache.org/spamassassin/DnsBlocklists#DnsBlocklists-dnsbl-block for more information. [159.183.175.69 listed in list.dnswl.org] 0.0 URIBL_BLOCKED ADMINISTRATOR NOTICE: The query to URIBL was blocked. 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} body,table tr,table td, div, a, span { font-family: Roboto, Arial, sans-serif !important; } </style> <![endif]--> <style> /* Windows Phone Viewport Fix */ @-ms-viewport { width: device-width; } .mobile-only { display: none !important; mso-hide: all !important; } .desktop-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 0 !important; } @media only screen and (max-width: 800px) { .mobile-only { display: table !important; mso-hide: none !important; } .newsGroup-border-mobile { border-bottom: 1px solid #C3C3C3 !important; } .desktop-only { display: none !important; mso-hide: all !important; } .container { width: 100% !important; min-width: 280px; } .content { padding: 0 5px; } .walkthrough-image { width: 100% !important; } .performer-title, .performer-content{ font-size: 6px !important; } .header-msg { font-size: 9px !important; } .pre-header { padding: 10px 20px !important; text-align: left !important; } .side-bar { display: none !important; 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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 22, 2026 &n= bsp; | <a href=3D"https://url6380.news.pitchbook.com/= ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEbAIEB-2B5= jPowiYF8WWrATlRiIDwlRbZX3p5DITdvaCQ-3D-3DWbQB_Pr966knuaHmaw6c7pKvB-2BCEiDnj= 5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe= -2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZg= ufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbV= c6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24jpNKEk9UM60DDEFdbiFDE8k-2BAaLLKQnGujm5XI= xBvXlOVVB4p7jXHTdUbmyq9CjT6ZeH35MrmlfNfF-2FZmuSyzisLNspyWgFvqaa5DzRkwZyXx-2= BV6oLvhlePyc6qKg5uYlfNbFhLe2yujY-2BTQUBxNo6-2BXPgVbte9EK69Bu3nCR7uU4PklDVCq= WwN11n5UMYUDBmJv1z725q1ULKX4-2Fo5uBpEDfUETgbRS-2FuZsq2wxaWFpJkgxSaJmKBI9bc-= 2FbhRhUvFRIINFIItZlOKIDO-2Fvldo-3D" target=3D"_blank" style=3D"text-decorat= ion: 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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Have feedback? <b><a href=3D"https://url6380.new= s.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzWEbAIEB-2B5jPowiYF8WWrATh95VYtglRJ9j5PiQi4IDIw-3D-3DUqMc_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQ= anq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL= 148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULF= TAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24tLsLwwysfMr-2BEXIy8oe-2F= NBRTJi38pj301XY17oa5Ovogq-2FTiFflp4dDrE9kgQB9vROOEe7Ge7CWCkyJ9p89H7UuStSrNW= n2z-2BySGklnlkY1AOLiFvjsRofoBfHGpDm5nPaDoGc3D6MZ2VwOcoI3EhMJhhM32HDlkhcDYTU= MEEc34moMXmlKsKdEvaBqzFvLQMoP7AShD2gvrRpA60NX2MHRTJ4oSkzLYguYNCmsAYqdzQOLaA= 0u8FrD0eeAnqMu3OqL-2F-2BsqKhaqHqXkWGYf-2Fuk-3D" style=3D"color: #1D5080;" t= est=3D"">Complete our survey</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_580047" id=3D"n_580047" 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;"> IPO activity is roaring back, = but mostly in certain sectors </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-2BaqM7ONnvsnswouzWEbAIEB-2B5jPowiYF8WWrAT7ehGh4T= MQLHL3VgyQIyBbQ-3D-3D8IMN_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2= ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobt= HhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7r= ipEZMyHNtzErZ24jOnZs8apom94VMoaCN38bAO6vBBuq02iW7O4UpQWnXFdS5yPCQNZdYCsYqug= sFjDfEOcx3gkGFhCBvvNjhbXLCUZjm2Z4QdLLh9-2F-2BwYfY-2BSv6DZeTd-2FatbAf3OYlV-2= BYgVD1Ou6uD2c1c4LbUIV-2BqI0DwsCakTiQBhDECn7l33u7QbT8p2LmJVkB32MofnYwLS9YfDm= 4IjkSForD294cCNeHVnydZw2xtwzs289I7rEDl68h1eZUswehhILtjS9QAqI6WEXDWc549dXlwY= NeACE-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"https:/= /img.pitchbook.com/news/73884.jpg" style=3D"border: none; width: 100%; heig= ht: 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">(tobiasjo/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 = Michael Bodley and Kia Kokalitcheva, PitchBook News</i><br><br> There's been an uptick in IPO filings, but i= t's been mostly from companies in biotech and other sectors=E2=80=94not so = much from the usual VC-backed tech startups.<br><br><b>"There is so much sp= eculation and fluff around SpaceX =E2=80=A6 that I don't think any potentia= l issuers are really altering plans around that," said Lise Buyer, co-found= er of IPO adviser Class V Group.</b> "Instead, it's the performance of the = market in general and the overall growth of the individual companies that w= ill determine if [or] when they actually flip to public."<br><br><b>Stock i= nvestors last week drove the S&P 500 and the Nasdaq to all-time highs,<= /b> bolstered by stabilizing macro conditions and lower volatility. So far = in 2026, there have been 79 IPO filings in the US and 41 IPO pricings of at= least $50 million in market cap, according to Renaissance Capital data.<br= ><br> Kailera Therapeutics, the obesity-drug devel= oper backed by Atlas Venture and Bain Capital Life Sciences, raised $625 mi= llion in an IPO on Monday. Amazon-backed nuclear energy company X-Energy wi= ll begin trading on Friday. On the PE-backed issuer front, it's been mostly= companies in sectors like healthcare and defense=E2=80=94with the exceptio= n of Blackstone-owned Jersey Mike's, which filed confidentially this week.<= br><br><b>"If SpaceX goes [sustainably] well, I would expect to see a numbe= r of other tech companies</b>=E2=80=94perhaps AI companies beyond the megac= aps=E2=80=94attempt to take advantage of a market perceived to be friendly,= " Buyer said.<br><br> SpaceX, Anthropic and OpenAI are projected t= o deliver the largest year for IPOs, in terms of proceeds raised, in histor= y.<br><br> "If you're a smaller issuer, you want to get= out before that truck comes through," said Steve Brotman, managing partner= of late-stage investment firm Alpha Partners.<br><br><b>But there have not= been many recent notable instances of sizable VC-backed tech companies pre= pping IPOs.</b> Top tech companies may have valuations "too high to find su= pport in the [stock] market on the base of a money-losing business model," = said Kyle Stanford, PitchBook's director of US venture capital research.<br= ><br> "Even tech companies that have been profitab= le while going public recently haven't fared too well."</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-2BaqM7ONnvsnswouzWEbAIEB-2B5jPowiYF8WWrAT7ehGh4TMQLHL3VgyQIyBbQ-3D-3= Du7CP_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4= aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uSt= oou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviT= DaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24hJqW5= EkDbo5RLrls1wdgLwFJZPHSEDKvMqs8jg9miVGFHEW-2Fe6lbGeAgmdhkYucTKgYm3n8cXOmKj7= Z6oz6s-2FXWovhk0aQX-2BQMpqUFwOxaEaC9Q8T8D-2BDzjkMgVUuiX0zLupGOsQJiDLj9-2FIO= N6PrN0Y1JFdrlkGPpqP2w-2FxbJPIoOGYZ-2B6-2FA6xCEPvcoQBtXWTvh-2FUmoQXtTWEQbez-= 2F1QSFm25WLoZqNQr-2BTqosZbWuco2o6gfzGeAvUaYfFFPKRBr-2B86-2B3rZj4qWIl1kAZrA-= 3D" style=3D"font-family: Roboto, Arial, sans-serif; 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"> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEbAIEB-2B5jPo= wiYF8WWrATDBS4-2B9bDaPcfWWi3GNZIPQ-3D-3Dxywn_Pr966knuaHmaw6c7pKvB-2BCEiDnj5= UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-= 2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgu= fd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc= 6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24gla5yybq-2FcpXrO3PK7blIi2TirC498sp9B3DuNQ= 1gRcGCEz7Db6CS4eZnrvQKsPMUMOLo5fhrx86LkwiknNxNCEF3XXPgKqZyCGFRoPiyv5X4AVPh9= yPnrXzITsPgSni0pBARuUau-2BmH0rQrZD-2BfSmWMeUdsL0o4Zucjvh6NFroXUZ7ZrGjhVgcI0= lRZo4ltLc-2FD2kO-2FU3fctQpHPLc1W5t3rqUkHhOoJliNVr3Q-2BYy2wjg1TJL-2B8eQ3RmsQ= E5x4gFljjnrJWbab0ImWLhBzqg-3D" style=3D"color: #1D5080;" test=3D"" universa= l=3D"true">Biotech IPOs poised for a comeback=E2=80=94but only for some</a>= </b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>A message from Grant Thornton Stax</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_579696" id=3D"n_579696" 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;"> Why IT Services is one of the = most compelling sectors for PE investment </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"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"right"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" style=3D"float: none; padding-left: 15px; "> <tbody> <tr> <td align=3D"right" style=3D"text-align: righ= t"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEbAIEB-2B5jPowiYF8WWrATgydu-2FXwkPHw= wDJRhjx-2FYBg-3D-3DaUzI_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2By= K8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHh= LxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7rip= EZMyHNtzErZ24pkXyMsepIt5prIMke6itfoeIhPVJercyBR8LeqpMhjW843IUd5V4Z5p7goblQd= Glnf6GUrSSqaENRiCqk2JEjDUHwej0BFW69yxNzi9xXpkPnvklDYrKLqxq-2FyRaZ3nyVHTJcBY= 5aSqkXfjwwl3dQo1Ej5W8epFpYc-2FC23dADWpuwx3w1zVeIRIvPnX8v689jM-2FTKjytEsJEgv= 9f9Y00572Xi0X3jzpV2s-2FhBMYNQ9ubOw5dihHWIdUS7TjHMFovTFxYBv7wvD0zpry09UHonw-= 3D"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/7= 3726.png" style=3D"border: none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table>The IT services sector is entering on= e of its most dynamic periods in a generation. The convergence of AI adopti= on, cloud complexity, and cybersecurity demand is creating durable, structu= ral growth that will sustain deal activity and premium valuations in the mo= st attractive sub-segments for years to come. But selectivity is essential.= <br><br> The question for PE investors is not whether= the IT services sector warrants capital allocation, but whether the assets= under consideration are well-positioned in a shifting market and whether m= anagement teams can successfully transition from product distribution to ou= tcome-based services.<br><br><a href=3D"https://url6380.news.pitchbook.com/= ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEbAIEB-2B5= jPowiYF8WWrATgydu-2FXwkPHwwDJRhjx-2FYBg-3D-3DZpIU_Pr966knuaHmaw6c7pKvB-2BCE= iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyAr= QsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoN= phZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPm= PpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24sgtkJr5XFFcOgDao5l126-2BKn81HsCOJs5N= xT1-2FLmmRd9rENE-2FfXsA5OMx-2F-2FrQdAjYIwLEevWh305ejNfAcc-2FNG-2BPbiycrZO7Z= nUcfBGyaf6ZN5aRatQWnltLH9CyOIn-2FxWt1fDT9MBXiKVKYTrID6XyRDNXiMNJr-2FMqVaDd8= IjcEwAGDyRJyscsI9AaDH0HBUdByaIct1Ab7ahyGMiYUywFWCjw6TT2bwhbhXIpNcOzBfc08DTz= -2BJdPsTL1WPcsWzXvl3SUureBjCLjuww2jIQ-3D" style=3D"color: #1D5080;" test=3D= "">Read this article</a> to gain a clearer understanding of the dynamics wi= thin IT services and the viability for capital growth in a changing market.= </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>Big Tech corporates are circling LLM makers</b>, jockeying to get an= y piece they can of the biggest AI startups. Our interactive graph maps out= connections between these companies and their corporate investors. <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWEbAIEB-2B5jPowiYF8WWrATan5Ny1Qk-2BhgGTzPGU= -2BKYUg-3D-3DAIkj_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJ= Z22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNko= coTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHN= tzErZ24oXRNVkZJSysPJ94A8bBkeRnvmKXB7GCVRUCl12XakxGYM4n7deq-2FlItx1OckAoL3CO= -2BgXBLD08Jp93bMo4V9BfINfOx899nWPM2qjwqk08qiT5rreksFZ46JIz2SgzZ0U0v83bNjxwX= sGWR-2BSlnFglmED0pYLBGaNKWkSqC3TnK4GPi3ZP9hN-2FfOUBoQezgCE4HAlBXWPqQBZhGKBR= WT04HGDRmeDwdoUv0zVMpmXibftDHR8Rzy-2B80EakNVZLvQA3IMmyDixJSGV2v0PMSuvA-3D" = style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>View it here</b><= /a><br><br> =E2=80=A2 <b>EQT is partnering with portfoli= o company EdgeConneX</b> to launch a digital infrastructure investing platf= orm, echoing peers' push to pour capital into the AI buildout. <a href=3D"h= ttps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7Sp= SWIrf6GFa-2BaqM7ONnvsnswouzW0KXXvkGjw8TOuV1LZGCkoCG70ODzoTlqdfdtg04rwMQ-3D-= 3DT4ZK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR= 4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uS= toou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6Ymvi= TDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24jULt= milsFrAz5IfjHH5rXULj2pgWM0LqXMSm7I84dZkCKMKsaZQHlws8PVz-2BkI8LXWiINkjpDtnYf= VoOFE0wrvor7-2B2LzssaOwxmykQM7Fks7jtNaifHMShNoH5W5ZxF1NTgZ2I2Ajg3aXNXGDk-2B= DGtn5BInlPgBwgMW5Dft4i6anvkiHvQdQb1xCxDDfy1obllgPm86ltxgR9ebnyomoNt7iBTb0-2= FuX2BIR5tKubsUMj1NvUZvplarbwP5VkF2VLjm6oxPPcoQZD4Lrlbs2R8-3D" style=3D"colo= r: #1D5080;" test=3D"" universal=3D"true"><b>Read more</b></a><br><br> =E2=80=A2 <b>Agentic AI is rapidly moving fr= om experimentation to deployment</b>, and capital is following. VC-backed c= ompanies in the sector collected more than $24 billion across more than 1,3= 00 deals in 2025=E2=80=94representing almost 73% of their overall VC fundin= g between 2015 and 2024. <a href=3D"https://url6380.news.pitchbook.com/uni/= ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW0KXXvkGjw8= TOuV1LZGCkoZu47LKRQlCBjApShM-2BRgqA-3D-3DmZNs_Pr966knuaHmaw6c7pKvB-2BCEiDnj= 5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe= -2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZg= ufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbV= c6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24njyza-2B0ujbkaPJns72XQRTdmmHLudZcg-2BGx2= vnhI1800xF6QRIJ0b7v21VurttRp8eAIy2v2DUjb-2F6PQQzWrCd9DZK7DcMzAjvaRmoIRPxOzw= -2FPScrx7VyqWrv7hFaIOsWbJWQO0ZT7D4uQ0ZKyJJibpjU1Obt-2Fn-2FNThjx06zrEAmBg34L= TUv9jM0rjCVi5AsU9Utl-2BLMCeI8igK79nu6ml65CB4WYemgYJ7RG7zAqebjs1j9SanPvzfJAE= PwHp2-2F2wzuAdAgdsgyhjx-2BZ6AmQ-3D" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true"><b>Read the analyst note</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_580050" id=3D"n_580050" style=3D"font-size: 0; text-decoration: non= e;"></a>=20 <table lang=3D"x-news-group-title" cellpadding=3D= "0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;= "> <tbody> <tr> <td><span class=3D"outlook-caption-override" s= tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s= erif; font-weight= : 500; font-size: 20px; line-height: 26px;"> PE growth bets on a clean ener= gy sector that's grown up </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>By = Madeline Shi, Senior Private Equity Reporter</i><br><br> PE growth investments in clean energy skyroc= keted in 2025, overtaking control deals for the first time on record. The r= eversal reflects investors chasing a maturing clean energy sector with the = capital to scale as electricity demand outruns supply.<br><br> The value of minority PE investments in the = sector rose nearly 130% year-over-year to <b>$22.5 billion</b> last year, d= riven by a sharp increase in the volume of large deals, according to our la= test <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW0KXXvkGjw8TOuV1LZGCkoOMxFxOz4c= kavQC-2FNAKlBWg-3D-3DUMvQ_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2= ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobt= HhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7r= ipEZMyHNtzErZ24jpIUahndUl2tAULzzPsOtUWCrEzmope8CH-2BSuC8fFoCfWAbwhVmMOuYRpV= aL3rSNH8SV9EMw1KOWogRfFBjT-2B0-2FACyLoeVyWz3IEUWZgIESf9sdyIULHA89WddHbuQPGt= rzSDig2HaxpEDe9t0NnZ4re1djHYdiHzXNOIE7WvvShullHymUeeuh3E7GewGxjnUlcK-2F5bPX= NXHlglwWn9L8fxDxkWZD2iqPnCkVauBwiC5uRUtKZTsP0GV5aPcABQ2yEpVuScoW6mjC6NUQ7IM= k-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>analyst not= e on the space</b></a>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-top" style=3D"width: 100%; min-width: 100= %;"> <tbody> <tr> <td valign=3D"top"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"center"> <table align=3D"center" border=3D"0" cellpadd= ing=3D"0" cellspacing=3D"0" style=3D"float: none; "> <tbody> <tr> <td align=3D"center" style=3D"text-align: cen= ter"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW0KXXvkGjw8TOuV1LZGCkoHkfROv0t6= DsVWXzJmoOr-2BQ-3D-3D_Vj__Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQ= VI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2= ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobt= HhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7r= ipEZMyHNtzErZ24tCABFn14M1L-2FYjVQJTdNKTu2fwKsWF8VZtaTfaLTPeEkxmk2jgasYpZbf5= Dczx8qpGeUQOQhjeWBM2ILZH4Zcvl1R5BNnLTSmyf3IN60JBeN5WYHAXEKfLQNbAMNnbIN1oUYB= i0rLh56-2F7b31riCLEQCZy-2BZvO-2B4RPAgK2NZUDyey73llylatKinphkl9OrlpNWeNoQuCf= up1l2lU1WVC6y7ew1wL-2F24g6pp2wX2cknC-2Fh6GEmalv5EUHlSvOKe7WtEtOBc2py5lMO75j= IjulQ-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"https:/= /img.pitchbook.com/news/73886.png" style=3D"border: none; width: 100%; heig= ht: 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"><b>Inv= estors are moving away from pure-play renewables toward anything that can h= elp generate stable, sustainable power capacity.</b> This includes improvin= g grid use and energy storage, or building virtual power plants that shift = electricity demand from supply-constrained regions to areas with excess cap= acity, said Hans Kobler, founder and managing partner of Energy Impact Part= ners, a $4.5 billion tech investor.=E2=80=AF<br><br> The International Energy Agency predicts ele= ctricity demand will outpace overall energy demand by more than twofold by = 2030=E2=80=94driven by the AI boom and rapid data center expansion, rising = industrial use of electricity and continued adoption of electric vehicles.<= br><br> Many of these renewables-adjacent businesses= are technologically advanced and have the potential to scale quickly, open= ing up new avenues for PE growth and VC investors.<br><br><b>The growth in = minority deals also reflects a maturing market.</b> More clean energy compa= nies are moving past the technology validation stage to building real asset= s, including large-scale power generation projects. They no longer need a n= ew owner, just the capital to scale more quickly, said Charles Cherington, = co-founder of Ara Partners, a PE firm dedicated to buyouts and project fina= ncing in the industrial decarbonization sector.<br><br> =E2=80=AF"This reflects a healthier pipeline= of businesses that have proven their technology and are ready to move up-m= arket to full commercial deployment," Cherington said. <!-- CLEAR THIS BOX = AFTER DUPING https://pitchbook.com/news/reports/q1-2026-pitchbook-analyst-note-2025-clea= n-energy-pe-trends?utm_medium=3Dnewsletter&utm_source=3Ddaily_pitch&utm_cam= paign=3Danalyst_note&utm_content=3Dq1_2026_pitchbook_analyst_note_2025_clea= n_energy_pe_trends&utm_term=3D --></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 #40C2C9"><a class=3D"customButtonLink" href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzW0KXXvkGjw8TOuV1LZGCkoHkfROv0t6DsVWXzJmoOr-2BQ-3D-3= Dh4Ay_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4= aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uSt= oou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviT= DaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24mkMzF= Dioe9dGnYgPvU956QSHlWvaevjX6Gs3vi9nso9MrJvs95VpFeQuOUkT-2FZh7MAxK1wSy7ncPhh= YyBsRmu1IYAFxSOovv30NTzf9uz9HpASzRCPLqfM2NTLsUAPDOVgPtIDLBonI27amBgy988n-2F= FPPlpKPgBpq2jUXMm7-2F20bDn1kJ-2FJwvguj2I3GWlSqaGqxwsgeEP-2FMJSR-2FYzemiwSYU= J797eV2Q143TSQyNbdZfTkD-2BodBk-2F2B0QYu9bUUhPv6Ekma2eLrvpkULn4WU-3D" style= =3D"font-family: Roboto, Arial, sans-serif; font-size: 18px; text-decoratio= n: none; color: black; padding-left: 3px" target=3D"_blank" universal=3D"tr= ue">Download the analyst note<img height=3D"24" src=3D"https://fonts.pitchb= ook.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-2BaqM7ONnvsnswouzW0KXXvkGjw8TOu= V1LZGCkoaG7jLOX5xv2yI-2BH3E-2FvvWg-3D-3DxvW8_Pr966knuaHmaw6c7pKvB-2BCEiDnj5= UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-= 2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgu= fd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc= 6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24nCR7FUkTGs8WvSylvUF2V5xh0GKh66G7nCv4u81uu= ZlAfiF3XZX8tziCnMxA3l9hLS8HqthISLSuQJo1vz2ev6uLy8JH-2BEnaPX-2FNrGW1byMMIQPy= k2cdz4AtBTlXwqiDoQbrdmm2140arnWWRskURrBxQb-2Fee7Edq8JOPYJfe73iYq1NZSAfTWBXJ= G30ngI3rVIHhHxLi919NjSyPaHEEXlYofqWYRO-2BjJjbiTUSkif1X7G0jvWet7WbWHfctSOsbV= ZulKqJbklOEcVNnUZ2L4-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue">Q4 2025 Climate Tech VC Trends</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>Three startups changing America= 's war tactics.</b> See how Anduril, Palantir and SpaceX are forming a defe= nse tech clique with the Trump administration. [<a href=3D"https://url6380.= news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzW0KXXvkGjw8TOuV1LZGCkos0uipoGk8G3OXp2m-2FGmhLg-3D-3DDc3Q_Pr966knuaH= maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4N= TtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr= 2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5ch= ULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24suSXKoa7i7P21B-2BPoCJ= -2BbkLU1tUb2SSKraNLaG390qmerOhR4e1t5uQe8mJqu6fCKP4j4-2FpOCFFATS2oVRteXRlpTQ= 4O-2BuVl9z-2BbOw4-2FDYDK-2FQCm8G0r0HjKC52KMB-2BVYdxUrCKwnrAZibjtjCAURBDe1ag= fFXBbOPtGsLaqnt4-2FFnJfMNMd21qx6WjsPPflDAPoz4nla7q8wV1yVwhl-2BehTsqMDOo6j1r= wp3mauh8bpLx7GMywoLJd0H5lHbW3ih9NXjI6Zic0pgToepX0mAU-3D" style=3D"color: #1= D5080;" test=3D"">The Economist</a>]<br><br> =E2=80=A2 <b>Blackstone's COO is "keeping it= real" with his LinkedIn jogging videos.</b> Jonathan Gray became an accide= ntal corporate influencer, sightseeing and jogging while discussing private= equity. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzW0KXXvkGjw8TOuV1LZGCkoUWypddDL= EunVJxh3FONA3A-3D-3Dat2M_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQV= I43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2B= yK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtH= hLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ri= pEZMyHNtzErZ24tAiGKGtFcV6ysZrqUMag1K8yy-2BgrQyKgJy-2FxBkuyCCSJKN5oA4vowCJ0a= DjfEJx92cry3kRuUuCRSbp7s0XGbMrxf9Ox2-2FYW81DPP-2B54KZMiwZJKZXJ-2FYrZIYFPL06= M33fjw9dcWLzGln2Qn5gUjbNMz-2BzLcrqyeWgQpf2g9yANpcgzQS-2BiTHPlyEmj0pDHK1XQZB= r5Rx2PLaEjWRltLe3hnFxAbTI4teEzc0bZs1WIK6gMlc3HAODaaCvz-2F3kSy-2BM40S3x8brqV= jWsESbGbgo-3D" style=3D"color: #1D5080;" test=3D"">Fortune</a>]<br><br> =E2=80=A2 <b>Is John Ternus Apple's dark hor= se in the AI race?</b> The iPhone maker is behind on AI and navigating fres= h supply chain challenges amid Middle East tensions. [<a href=3D"https://ur= l6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba= qM7ONnvsnswouzW0KXXvkGjw8TOuV1LZGCkoRlg3HzNPGYZx1FaknuE1Uw-3D-3D69YO_Pr966k= nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP= 6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDC= AwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97= a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24r8xAj6VuG6aQhkA9s= sjefBQLetdq2z83jV0-2FEdi6kfeiWnvdP3kzR1J4iiK-2BQq4RXTjEkKhAo6z55QqlSnzanp1B= k1K7YwfJWo7iV-2FFKv2bYZu6V-2FLkCoMioOiLm54YCWGMLADUBOMQmfrstU8q-2F-2Bu-2FHx= XA2wNfWl3Krsur-2Bddz-2BA-2F3155W0L-2Fe9yn-2FdTzF7RNkSfhkupPxnaO3IRXqMgxpkFa= mVn7bjw1uyMPPPz6j0BWrrtb87sAFQ6QKQtifq48U0LgtHYVz2E22tjTRbY0-3D" style=3D"c= olor: #1D5080;" test=3D"">Financial 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;"> 668 </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;"> 2493 </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;"> 1242 </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;"> 18 </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-2BaqM7ONnvsnswouzW0KXXvkGjw8TOuV1LZGCkoj-2FojrtsgrNUlmAWndl2IzQ-3D-3DR= Aul_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aM= P3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoo= u-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDa= IBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24lBtPrVJ= NmdVu03Q-2FyCLadnDnpeF4uFDviqvNEsJKGRDrX-2FOr6hev-2FHVDhHbqW40PgpTd7wzR9ppH= TVnfPgLaDbaj9MuUlGX8KEBlsTAh6FZTUYainF-2FbnvnlIJfgbJhgBMMBdbDVzNPynrKXFrLEp= 8yTtU-2FHwEaaQ-2BgTnsiUey-2FQdTc-2BokIZd6dDW-2FYpklNhOxCoKXdVzH5Pknu3JsOmeY= CE8Yu6M5XebxjgSQ2Dezlg7TZtJ9DeUVXB3htqHzrVsvyGzSL-2FT9IGUKwmAv-2F5YI-3D" ta= rget=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_580039" id=3D"n_580039" 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: 2019 Vint= age Global Real Estate 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: 57.91505791505792%; mi= n-width: 57.91505791505792%; max-width: 57.91505791505792%; background-colo= r: #1D5080;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">6.00%</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">10.36%</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;"> 0.21x </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= swouzW0KXXvkGjw8TOuV1LZGCkoaHzLjxPdEJa3XKhP6bNljQ-3D-3DVreH_Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQan= q3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL14= 8-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTA= skqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24ucjKbv-2Bn-2FNVONvfrK644fx= gG573GVBaaFcXhwLkwvo0S1ZzDwSsqQBciZRw34-2B94P-2B7x3CUs3DKGx93s4IY7UyejwlrRO= BQYly0skw323iJfxrVi-2BQOjSNKjPolAL9Onk0NFyqdXw5jkYNsuni2bPL2HlhuKzR-2FeDKUO= D79yLSPhvW6Ycr5C-2FZYawcogQcDfTp2sPUa-2B4q2D-2BmvImMTpV5AgoelvjCIvHtkBISN-2= BkYxfB6zgO-2BuRdml8zpmwGIVv0BXqqkB9LqYmfai7QqM8Lc-3D" style=3D"font-size: 1= 4px; line-height: 24px; color: #1D5080;" universal=3D"true">10 Federal Self= Storage Acquisition Company 2 </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= swouzVY62tTx6arePlwFYZ5Hmcu1gUgYufH53TlYBKfjVauvQ-3D-3Dc0B__Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQan= q3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL14= 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tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzVY62tTx6arePlwFYZ5Hmcu3XLHQs2AjSWS721FZiJY9A-3D-3DTQe2_Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQan= q3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL14= 8-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTA= skqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24oN6GYHZqrU4N9esBMlJO3b5k-2= FSk8m2qLt68aaZrIT7XH-2BuH0rhqQzdPHJbQjdouE8i5qSJTfjeyYSaLfsK-2BwS4YQdZX2wMi= kr5KJpvzpJZOwiZCFdGDLusWjORXTd9ciFTD94uqaoeCbK360q4WPGZ9ufpYgUttqJrJgfw8T3P= aYkTfAOBirxJWuKY8FC-2FChFMTLUeCb6RhFpq9M6cVEkJVI2rs0GP9eYfIahyTIlTQ1qdbT4Cb= B4B2tFg8dKTOQJQtUTc47-2F4Cqc2IrH8OzQ0-3D" style=3D"font-size: 14px; line-he= ight: 24px; color: #1D5080;" universal=3D"true">Cabot U.K. Core-Plus Indust= rial Fund </a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"font-size: 14px; color: #78766F; = padding: 25px 0 5px 5px; font-family: Roboto, Arial, sans-serif;">*IRR: net of fees</td> </tr> <tr> <td style=3D"color: #1D5080; padding: 25px 0 2= 0px 0;"><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du0= 01.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVY62tTx6arePlwFYZ5HmcuNQ3O1M= k6Vgh3OMQ5ssSXNw-3D-3DKr-Y_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi= QVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-= 2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZob= tHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7= ripEZMyHNtzErZ24vJhoszWleiLvF8PZ95NF3XC-2FO80rLDiiG-2FaC3qE53YkkWR-2FkNn-2F= ax2gwgmSn4wWA1856urz61SS4y4Vn9MBaESdk-2FHdj25tO2FYnZnxtf19Ar-2BF6BIlpLf5Kpa= xjMaTLvmpuqdm9bKXeWf5Tuzkboif0tCrjsr7DYBULMB7DwmqbIREBuDa3hSz0ymTVREKhOlE0J= 1ZNQwWDb8LhqOy-2BmH8dSplRLX8-2BcvbPSbA9pcPfMTWgDd5BiXaa30ArUQq4FgpjWmyA8-2B= dOTrq2qn-2FkAo-3D" style=3D"font-family: Roboto, Arial, sans-serif; color: = #1D5080; font-size: 14px; font-weight: 700; line-height: 24px;" universal= =3D"true">83 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-2BaqM7ONnvsnswouzVY62tTx= 6arePlwFYZ5Hmcu0vLZacjlHgPulsITOC-2B0Vw-3D-3DFX6U_Pr966knuaHmaw6c7pKvB-2BCE= iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyAr= QsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoN= 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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-2BaqM7ONnvsnswouzVY62tTx6arePlwFYZ5HmcuOycA97VOdKUkCj0tT= b4Z6g-3D-3Detkd_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ2= 2J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkoco= TJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtz= ErZ24ngYl1BlAoiz3wVIL6u7oiI8-2BvrDLVTBju2r8EieQ9TXEuKxGzIvlWbZnh-2FIRMVz2-2= B40nzUHQm1q8UICZXcvzNyuwFVbzVzL8aGVW32-2B6LSCJ-2BJ294sySGAVf91zKWeOreB0G-2F= 4Is2xGUh0022upQQYWdjsp4I8xkUNKKjn8WHHHeZQGObCbw0Lw87TTZiEfCPBNFVG1icaBgvzO6= bdnVLcJcrRfiWGtkghgigJkoRvoxoeB9ddgW-2FGJAj-2BDEhTjyiiURpMbhN2831ZqamcW-2BV= g-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Project Promet= heus</a></b>, an AI lab co-founded by <b>Jeff Bezos</b>, is in talks to rai= se a $10 billion round at a $38 billion valuation, the Financial Times repo= rted.<br><br> India-based <b><a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzVY62tTx6arePlwFYZ5Hmcub68CfGcYnmYC-2FfEVVwbOlw-3D-3DQuzK_Pr966knu= aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W= 4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAw= Yr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5= chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24r9aoQHPzM97VM-2B3wr= vjsd1IaCjR2PIRIiH0J1aKSCGt1Zu21WCgVNYoPslva-2F2r9VRMhq-2BLL7ACNLw8aIogtLabD= lb8jag7ygSr-2FTeRDgd3uVtqeZdUxJNWSt4Td5CDXxDxuuazV9PWR8voX7hol26Lg6xoJzQ0Zx= dNKFa6vxfHXJT-2F4Anf81tc1j9WTEBpAj0a9-2BS6XPz-2Fn8pvKka-2FEtToDIV9HyfnALaDY= MFS5za6b7-2FdeWBH-2BYo29LdTjIEgFQwbLhob3S5F-2BfBptAlhLKE-3D" style=3D"color= : #1D5080;" test=3D"" universal=3D"true">Sarvam</a></b> is in talks to rais= e $320 million to $350 million in a round from investors including <b>Nvidi= a</b>, <b>Amazon</b> and <b>HCLTech</b> that would value the AI startup at = around $1.5 billion, The Economic Times reported.<br><br><b><a href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzVY62tTx6arePlwFYZ5HmcuYS0saYRpIcCCCdy6iWomSA-3D-3DD= usU_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aM= P3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoo= u-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDa= IBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24mwL7TwI= hJ1qULcja0UdOHVPAM6nTWDo7sm4CjDPmX3eqUWDAz5qJ-2FQxPfvmYMYsHvdKP6gye2NbZu0gD= CUyYelbJkOzLeiQBq-2BJP68DWka3VTlMvKx7XINJl-2FAYYO5Ahm-2Bd4iloOpTW6nIOC11yWC= Kr2duaIqVPljUXRSXWN2DcnwT7QFvHNmDcv1dF1AASdl-2B9F14eC9cRCoBBYG8WbNKjAInnOzJ= 1Ptc8CSUq21CqKHgdpqrrDOok8ySVfyN-2Fg8yadEY2YnZ1KsZZU7ufxwU-3D" style=3D"col= or: #1D5080;" test=3D"" universal=3D"true">Collov Labs</a></b>, a visual AI= startup, secured a $23 million Series A from investors including <b>Bright= way Future Capital</b>, <b>Taihill Venture</b> and <b>Mindworks Capital</b>= .<br><br> Dutch quantum chip testing startup <b><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVY62tTx6arePlwFYZ5HmcuXQcSFtl6pniLAWJzpVnN= Tw-3D-3DI7ou_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UY= A68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9= zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJK= a6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ= 24nbjzBJi4fchKa4s0Jk5-2B6sJ4aJkfEhh3vNnGKKsppH-2BLCHr72X717JX4mkIRRSG814jxz= shi17ikwYcftDMXztyCqTQhtOGNROYB-2FoTzVHarqXqmk2s2EUF1N8A-2BGD-2BTPs9R-2FzpU= Nez9gW9oprMtvuM3sR1pL6E8Dx9cZaBorQwp-2FWZbbJs79-2BwlOL9qkFnB5aXMkOdQGrIE0aA= HUxsnDEyknyoMKlUYZWuf093Kl9-2BFJrA2hwBJotZNs0WmbHxt07D5w-2BEqipqAPkVIj2-2BY= 0Q-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Orange Quantu= m Systems</a></b> received =E2=82=AC3 million at the second close of its se= ed round from investors including the <b>European Innovation Council Fund</= b>, bringing the total for the round to =E2=82=AC15 million.<br><br><b><a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVY62tTx6arePlwFYZ5HmcuQg-2Bwwrmu6OIKYCP4= fIDsQA-3D-3DPuTY_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcV= f8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ= 22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkoc= oTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNt= zErZ24vTZzki-2FKpnMBgjZ6rHB50kTtisM4u18KGtpZbdhHMDncc-2FilzHhsr6Fx3ZRhuOdBq= 3THh0y-2Bch6qdsnByROEjtIYhR-2B8TLrzHYvDinStCKjqLTVRIGCBIBqEGBc-2FK3Y-2B0jRr= Aj8mypcG-2B0gtAedW7T-2FztCc0HFKNLOzn4fjYXri1RhmShKQ-2FBUXU2P3WjpJH7HDfazuUj= cITKF19jI1aUNExu-2Fyrw1OpXq83tGSCjEnV-2F9VlWt58N1ammllAiuH48NchF51LMhuxZlAq= tDBU2A-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">VisioLab<= /a></b>, the German developer of an AI self-checkout system, raised an $11 = million Series A led by <b>eCapital Entrepreneurial Partners</b> and <b>Sim= on Capital</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni= /ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXBpqdbdqqE= 0hdPnkyV4ZcuWfDywe4-2FkGYP77J7rDtQqQ-3D-3D9r6k_Pr966knuaHmaw6c7pKvB-2BCEiDn= j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsB= e-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZ= gufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpb= Vc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24reibVENHbW-2FSXbXxp0P9I2Av9sd0a8TYuOTtS= 5OnJDa2Z7OKcK7MGrqB22g3cs9jRZzN8XPh8qRvFRbmOVRxj2jlZn8AzwPxhW0zE-2FOv2Dr2dE= Uwp35fo1dIYDQezadtSVOa-2F7A4JBa3umRS-2Bnuk7IjFzGaLEQw1ut7893vY4rZ1aBw0tFU7Y= lrsHdKQ-2FNqaToLdYHlArb7rrcFvr-2Be7gR2vb81lQvt23Q4X6SGdnZ1UnPIAZB6r8YudlNiz= JfoqCxy7UfYnY-2BeFjs4rOvZHsI-3D" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true">Smart Robotics</a></b>, a Netherlands-based company focused on= intralogistics automation, secured =E2=82=AC10 million Series A led by <b>= Rotterdamse Havendraken</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>War= burg Pincus</b>, <b>Blackstone</b> and <b>Hg</b> are interested in buying a= minority stake in <b>Insight Partners</b>-backed <b><a href=3D"https://url= 6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-= 2BaqM7ONnvsnswouzXBpqdbdqqE0hdPnkyV4ZculVIKHzqgwNqzb1k-2FH5wRfA-3D-3DlZHW_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfG= tgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9= r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51= b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24mj3MJ8TTZ1Pb= FqpF4WbY19wFbfG3zP5ekwGCEl0tQHcnxqBn0VVjarwbSSAOQq1l21rvnfVrZ93tgq3n4hLp6-2= BNaGg-2FpWtEWWol0aHP7SuG9Jvryp650lWfuoALWDr0X-2BuPG-2FyIR3o7RwuCFEpkT8w9fl8= d42TVX5jmpRLsS61QkrCGZOmHzsQTZUchwvz40R38DSOZM6gYg-2BvkriBterovJpSASXAQzY2w= v9EqKNm7DjHVd4-2BSorUZZ7NOJLujySiH8v4n0x4ZQ5IGRs8yUAI-3D" style=3D"color: #= 1D5080;" test=3D"" universal=3D"true">Kpler</a></b>, a Brussels-based commo= dities data company that could be valued at around $5 billion in a deal, Re= uters reported.<br><br><b>CVC Capital Partners</b> led a $2.3 billion conti= nuation vehicle for <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls= /click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXBpqdbdqqE0hd= PnkyV4Zcu1-2FTKQF5YzSFo6-2Be2F-2B87fA-3D-3DgRlj_Pr966knuaHmaw6c7pKvB-2BCEiD= nj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQs= Be-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNph= Zgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPp= bVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24n-2FA10LIaOa6q4jisQ8pItdYZ7hAIJ9oyS9rU= jEvdbBvuchnrQK59ZTyAhKqmVTPIFv9kTV3NCeRcfpfDMUwtEL5rWlrbajyfCsJmL0WKI4Deue3= aT2JwVpkBospWbe3gh-2B0Gst5XhJQZO3g1nQPJyicFpWZv9zwQrdZ9IhxDCv4LsTIadjQ1dl8n= PO4C8Q7TuivYnKSjQlpj5QNXhkyvOrMOqO4iCaxK4NQ6x8Qb-2F10NUzqBSSJ7cHpIfc9oCLjz4= EJkRQcc6G46xKNwjSxF7o-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"= true">Subsea Communications</a></b>, a New Jersey-based undersea networks a= nd communication systems maker majority owned by <b>Cerberus Capital Manage= ment</b>.<br><br><b>2717 Partners</b> offered to acquire Toronto-listed edu= cational platform developer <b><a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXBpqd= bdqqE0hdPnkyV4Zcug-2F3ecKZWxWlgTVe5v3aFMg-3D-3D55eb_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYy= ArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFk= oNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQz= PmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24tE4BHeBl0az5yF4QhavJlYXRehpFNgwVZ3= wEcIpcEyy19W0tNKeOs-2Fc79B0aL-2BA7xVtBRoUC2X-2BcUsTf9R6b4Hr5lVwXgN3oTc0gB3I= g493xkGa-2FT5k9LiV3wGxup0UHdshb2QwHc2-2F5nN2mLqDUVevS1BjNCd7TM8kaFnfJ3SfQhx= E3RYdFZLPhqQwg51DS1NF7iUjyxB8aaOtUeJ-2F1Q-2BoMpA08AphnzDuvyevhO-2FIJZuIBzn4= SDZcs2Jd34OGCdBtv1ycCuBj3t-2FHrf3Hs6E-3D" style=3D"color: #1D5080;" test=3D= "" universal=3D"true">D2L</a></b> in a C$572 million ($419 million) take-pr= ivate deal.<br><br><b>Ardian</b> is to exit <b><a href=3D"https://url6380.n= ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7= ONnvsnswouzXBpqdbdqqE0hdPnkyV4ZcufONk5MdNZyzKsEna-2BiEAtw-3D-3DFIPu_Pr966kn= uaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6= W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCA= wYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a= 5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24gFKZfSa6jCYPx9zOp1= ZsSppKmf8cMpf0YN58NKr-2BMdWGySRwKQtZ2-2Biwwrat1lF11qAt0MqSD9cQ13NBnWdr78ARP= Cl84s95DUytGRoGGADOa1-2FJ8G-2F1ea-2BiEuQvLR8VvcZ2JQMI7aLO0COwZzfRbfkIEVR19k= a-2BCm2u68FH2nzqRssadaylmpRu-2BQjhIhu4dauhaucFImnF3mD1-2B0biNh-2BKzMURZGvtN= 4TqwPVIXn9wJ-2F4POiR9VBSYYY-2B6xT5GfaAi-2FNXXm5lZrpALCA8LPo-3D" style=3D"co= lor: #1D5080;" test=3D"" universal=3D"true">Trigo</a></b>, a French company= offering quality management solutions for the transportation sector, to <b= >Montyon Capital</b>.<br><br><b>RedBird Capital Partners</b> agreed to acqu= ire <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXBpqdbdqqE0hdPnkyV4ZcuVYTOgXF= ovZR-2BV-2FomnZ-2BQHA-3D-3DWbHw_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUlu= TnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0Q= ICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpP= OriR7ripEZMyHNtzErZ24rDKFFnWDemboaZtzly21bGjQLswKrYi09G9Qa-2FhgAEuOFgnuzw7T= EbY0qKElKrE6sxwLOIjRmYucnryvFbWr68Y4fkJGTsz8GvI0uZdkNzrCqyxZ6-2F4NIuImfDBj6= O0oC9d9BDTF0KzyKk3QElD3sP9li1-2BPWJJHgM7QigJtzCnZRL6IYeDPA63Z8TXhFkmNdkxhJw= XSJLevr3762qsP8xSSemFpUOu4Cx8BXpDIvcBq-2BeSHz-2B8UaqJiQXE5JnBFsNJ6-2BLRHKw8= edGiJNf3Pks-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Affi= nia</a></b>, a UK-based accounting services platform provider, from <b>Sove= reign Capital Partners</b>.<br><br><b>Renovus Capital Partners</b>-backed <= b>F2 Strategy</b> is to buy investment management and consulting company <b= ><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7= 3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXBpqdbdqqE0hdPnkyV4ZcuJPniWv8fhJg8a= 9D9MwqAuw-3D-3D_-FB_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kb= McVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8Wu= mJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCN= kocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMy= HNtzErZ24vFdX48gPOfKLGBbND3iV1ZIk33iiiaytfxW0Ss819-2B82wUsBtZjJK-2FxOL4k043= -2BTv0v-2Bwftc6sJJwKYbdxWaNZR2jpdJy-2BSO5pZg1kDlohj0LOVQqIk49CkLhR4-2BYDnkP= Zq9mrpPy5axl-2Ffj-2FcNV0w-2BD7hthHPekhjaDxfR3Wwny0W4d1vwk4aY5kxJqbBHJluPVAD= sL4rUnPpl0LDRXQx0GpEVWCcIjpVYGivsjPGOSrlxxqB-2Bdg92Uo6aETndkib02WqoR6kKU-2B= mhx7siW2A-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Meradi= a</a></b>.<br><br><b>Catchment Capital</b> agreed to purchase fireproofing = technology company <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXBpqdbdqqE0hdP= nkyV4Zcuuh6s11YEbjMlW6sZ-2FlEI5Q-3D-3D_SvI_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B= 5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd= 6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6O= lIy6hzyKfpPOriR7ripEZMyHNtzErZ24kIX4NZB1pPwx5KuC9BQbofMpVkEVnDK-2BWLT9e-2Fr= uPlbmM70aMEXJ-2BdnVZtvmGAD7e14-2B1j8Q6OWbMcFAAHDsbTVTiGkXDLGMSj1enLUZci99-2= FC9adi492jLXn-2BqSx5MDGzpmnD29AhIMdYzh-2F7-2FMsnoICJ-2Foy6ce4nDGZA-2FhzbIzv= Dp8c-2Fl9lk98wHVnGVNBe-2FGD9sfF4sw-2F9HMzpoMUptNXRb6j-2FH0-2BUrBcbHETRER7Gb= PbiOmmIl1NkurhIuo2zTvnCqSFI7ls-2FVY062SdHY-3D" style=3D"color: #1D5080;" te= st=3D"" universal=3D"true">Isolatek International</a></b> from <b>SK Capita= l 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>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>Spa= ceX</b> agreed to a $60 billion deal to acquire AI coding startup <b><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXBpqdbdqqE0hdPnkyV4Zcu-2FLPRP7cyWaR-2FnM-2= BHeN8JsA-3D-3DJfog_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbM= cVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8Wum= JZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNk= ocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyH= NtzErZ24riZevE4TAImKgz3poJxs115URjMu6Huxi7tfqdHpoydUztnaryVtl5JomIty4QJNYSJ= s195kvDJWPVJXYVGFoDGU2nVLUNNTMLgukn6WSNIoD7vUBJyNC47OiWPkL93GXpKxcrvTB1IY-2= BkSuCl3yeo184wVW7x8ejFjnC-2Bt6LEdG8vqb6-2FgGmkCzPGtCd7ch0OtCA08jl5z3QwR7Hy5= Nbs110QgYpb-2F0IkpxpITwnxwvhveBDDa5hCop39bSTgDrz0dkx5IgSKFB-2Fn09V1I83E-3D"= style=3D"color: #1D5080;" test=3D"" universal=3D"true">Cursor</a></b>'s pa= rent company <b>Anysphere</b>. If SpaceX does not proceed with the deal, it= will pay the company $10 billion.<br><br> Natural gas driller <b><a href=3D"https://ur= l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzXBpqdbdqqE0hdPnkyV4ZcuClBGJ3Q0EKIwKAGpzt8DCQ-3D-3DiP1z_Pr= 966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGt= gDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r= 5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b= 8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24l-2BiY0p2IKZL= BSEJ0xzbHSs3M3RbLG7aAjC5rGyQCpGwLCby-2Bw-2BV1PKLwcZYgGb-2B0TF9QLWT7a4u2ibBu= GYqqp5WgdE9vuK6OErFn2hbhmJHNqfH-2F8NpJa3wLKD5h-2FsVdkCtskCU6hH54S1P-2BHBxdl= dhkF0T1-2BUN-2B0iCKcKQJL8PIDJawezO90U5KStNPaIKBBSIBHxcM3yWFZQuCTaam8yEe83CC= LpLmVgXbxrrwoKz5s6W-2FzmcRG6bIdv-2BuMfD7renjRcg8mTT8DjVZQwIo-2BM-3D" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Arsenal Resources</a></b>= , which is backed by <b>Chambers Energy Capital</b>, is exploring a sale th= at could value the company at around $1.5 billion, Bloomberg reported.<br><= br><b>Electrum Group</b>-backed <b><a href=3D"https://url6380.news.pitchboo= k.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX= FKY4yJ-2FKLS06DyHze13LgF1Q1P6RFO8Aqy1Cb3byAag-3D-3D33E7_Pr966knuaHmaw6c7pKv= B-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3Ro= uRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2B= AlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqx= SLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24llS1EgYCbNjtYJIk8ru53yzdYHsobq= NPHf-2FyeoqYmHuJvavTVqYV0uX-2B3rfI5kQfiCoNBm8EBIYDab2gxDwLH9zgY1jt-2FmQ815l= 9X7jCKIhiCbyIHGi8brvaQYQEGUJ1Ep2TRut60yuExLMO3bwTP1N17NHzd2P-2BtDsscXh7tP6R= Tm85V2O32b-2FM8gf9UyBLypfMU09y6JEPIxUgq-2FiIiTsgXHtgMPi6AND8c2gaaAkzRzgNblL= aWC0aAIvpiScRBZzyocYOmnpML-2FGuCp96ps-3D" style=3D"color: #1D5080;" test=3D= "" universal=3D"true">Sunshine Silver Mining & Refining</a></b> is in t= alks to raise about $400 million in an IPO, Bloomberg reported.<br><br><b>S= ycamore Partners</b> is considering a 2027 London IPO for UK-based pharmacy= chain <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3D= u001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXFKY4yJ-2FKLS06DyHze13LgAW= 1YjkBESeFabE2vgRxfEw-3D-3Djg4z_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BH= R4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluT= nEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QI= CZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPO= riR7ripEZMyHNtzErZ24u6vpNvf8j0EF6KGoBnlssXu4M4qAgjft6GRQf38BdIRv8cWRuQ3fxWo= -2Bd3ke33jo04bYPt-2BhGHeb4byHDc3ueyxsmt9K7d54Daos9mZnzkeuTNtSy93IFMoPn-2Fnz= rLthKTfzMtekwQRspj54XCl3W6KT-2BWIgJ8D9Uc9icKe9PY-2BX4oZ8AXTFnS9Rk2KM6FF2qHq= o3rbX8BIj9GHn5hivdcHYJIlTCfiWfCrC1-2Fmm-2BqmkAUY8G4lw3aVTFwYt6096SBhqplHrzF= 1xIXTySftObk-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Boo= ts</a></b>, Reuters reported.<br><br> Singapore's <b><a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzXFKY4yJ-2FKLS06DyHze13Lg-2B9hyBESqREqywGuBbLFpsg-3D-3DjI9Z_Pr966k= nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP= 6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDC= AwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97= a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24lNV9T2S-2FHC0xAmZ= iIEEeWYMvt4sVcUybymrhXVAsjkC60RWpA98BOQqfy-2FIYzdVEf6iHPoy4PKMTk0gIHxujTUAK= o0PlxSinZ9q0bM7TPNMUStCYrlxSLhyc-2B-2FPV0OFmxEGXT903mrbVSB49AtZcI8X6UaEjBTi= 0ekDan5LXPcAfTuaap9S-2FMUrbCm-2BqrxWCLYf3vdweRxRidbQcYiAEnnP5BLo1Hs2F8jcosG= pr6KpdWKxbHH2Fi3MpZf-2BkB8eCsEoRgnM7uwx8ZHgr8XpLuc-3D" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">PixVerse</a></b>, an AI video startup ba= cked by <b>CDH Investments</b> and <b>Alibaba Group</b>, is in talks to pur= sue a Hong Kong IPO, Bloomberg reported.<br><br><b><a href=3D"https://url63= 80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B= aqM7ONnvsnswouzXFKY4yJ-2FKLS06DyHze13LgKdKlsPp2V7mYirmDQJDJqQ-3D-3DdEKi_Pr9= 66knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtg= DnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5= jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8= d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24vgUCiqypXn7WIT= 9jtnMqFR-2F7WceUXjOLjLZb9Tlc96oNn-2BoyBaLMbJrBgVKcuXhReBKCpkZ85DWVh55-2FWIi= frLls3KLTpIGCS36U2jiL97VD26yVTpTFh-2F5pwWlpsEhxM3xvXk2NewbP37x54sCC-2FyNQd0= EaoUOefXnE5LyxdL0vlpm7SyUI37YVnlWQ3mfnWjEG3sPzcmLbh4uxEJmufYBpdWawc4naiP2P8= 3Yv8oiqKGf0n520NZ-2FxhR8a9P0rChPD6lVhsaLz9hI48wN9BA-3D" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">Lang.ai</a></b>, an AI platform develop= er backed by <b>Nava Ventures</b>, agreed to be acquired by <b>Capacity</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>Corporate M&A</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">German= y's <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXFKY4yJ-2FKLS06DyHze13LgG-2FT= rOtMxnhBjXQkJ7-2FPJGQ-3D-3DV1XM_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUlu= TnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0Q= ICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpP= OriR7ripEZMyHNtzErZ24mCMaLs0lyfcfC2E7FFfHdYXwA1HulemRPC378NdfsiOIJp1hIkFvzM= LJ7LvNs5QJEBpKf0aHoCjXylgHz6Jx8FpS5axR9iw54td3tfsg1N3J1NhHRe8-2Bi5b7yOtjGu5= uDj65XyYGuFVb2mHj1NimRSGlgdpsdJ6KS6CSIZQV8h8PmWvB5Y3YiEMZxZI7J-2B1X4pRfm9mO= IC5MOGWRgmh7eoPQc2TA1dDZt4pEhPZjuqGFJ0kSDCVmUCbg9CK8T-2FV4Jzc79hoezZ-2FaeYn= DTj9tO0-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Deutsche= Telekom</a></b> is considering a complete merger with its US-based arm <b>= <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73= BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXFKY4yJ-2FKLS06DyHze13LgA-2FK9tLqOrF= N-2Fe5UuKaeT-2BQ-3D-3Dx3xL_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi= QVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-= 2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2QL148-2BAlFkoNphZgufd6aKQEWCAL0QICZob= tHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chULFTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7= ripEZMyHNtzErZ24gZXgb1YhtX9kiJhYLWAXrq0f1MwbE8ydRKqVGfQAGolpIWeJo71LxvJWOPr= PWF2nMbKdB3u875sLu5vOjyDXhOFUK29uj2nrfje5-2B0oJUF74mfySpH3CSMCIJ3RhoxQbpeN3= h3nX-2BR7Z6WVWwM5HxmVzTZiP2RQ9TRBxA7ASVkSSvLXJEjJNBmigpnvFkaB2XK9k3NvTWL8v1= Wk-2FRDgzEC9Mk0l7bcEm8eM10A5Xz5BO8hw3Mk-2BJ6kpT5OjdulU1X-2FoLflzXjllzQHSKLY= gGYA-3D" style=3D"color: #1D5080;" test=3D"" universal=3D"true">T-Mobile</a= ></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>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-2BaqM7ONnvsnswouzXFKY4yJ-2FKLS06DyHze13LgUY4CC-2= BlfieCeLanSlOxASw-3D-3D0cuK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4B= iQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTtQanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE= 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Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">The $2= 67.2 billion in quarterly deal value topped all full-year totals except for= those of 2021 and 2025. However, if you exclude the five largest deals, th= at figure falls by 73.2%<br><br> Source: <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzXFKY4yJ-2FKLS06DyHze13Lge1xzxf8o4ONu7FzZ0xZb1w-3D-3DQpfN_Pr966knuaHma= w6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR4aMP3yfGtgDnP6W4NTt= Qanq3RouRYyArQsBe-2B5C1T0YRiUluTnEE-2ByK8WumJZ22J9zJ32uStoou-2B9r5jDCAwYr2Q= L148-2BAlFkoNphZgufd6aKQEWCAL0QICZobtHhLxCNkocoTJKa6YmviTDaIBK51b8d97a5chUL= FTAskqxSLQzPmPpbVc6OlIy6hzyKfpPOriR7ripEZMyHNtzErZ24mLzm1xBT3o3XqMrLScpXzM7= ehRHWEsyoABntSYUwTLtYBjdejJBnk7nJdRdNTSmvu-2FmSSD9-2BXKg2SqvRXlV2RFUFtNsgnD= oJ-2FrQBd3DdKRvOcSgv06RmqKB29s-2FCR3oouPZ4Bn-2FZAxbfrzDuIziD30KIcouKOtaBv0l= XP0-2FO-2FbNsemxxCoyT0GigJKiMWZ-2BENZe-2B4zR2F3rXsGViKlPOB7OePa0trXPz0sZqMc= idWN3DQmOVChJ4-2FFYnNkiLSXWmXYzKcBnVCJRgsHlsFVsUhI-3D" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">Q1 2026 PitchBook-NVCA Venture Monitor</= a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; 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