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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 SpaceX's AI premium is cracking; Cohere buys Aleph Alpha for $20B; our new model to predict the leveraged loan default rate April 24, 2026 | Read online | Manage your subscription The Daily Pitch PE, [...] Content analysis details: (1.8 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] 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. 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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; width: 0 !important; max-width: 0 !important; height: 0 !important; max-height: 0 !important; opacity: 0 !important; } .line-breaker { display: block !important; } .responsive-img { width: 100% !important; } } </style> </head> <body style=3D"margin: 0 !important; padding: 0 !important;"> =20 <table lang=3D"x-pre-header" class=3D"pre-header" cellspacing=3D"0" cellp= adding=3D"0" border=3D"0" align=3D"center"> <tbody> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, sans-seri= f; font-size: 14px; color: #78766f; -webkit-text-size-adjust: none;"><span = style=3D"color: #78766f; font-size: 1px; display: none !important;"> SpaceX= 's AI premium is cracking; Cohere buys Aleph Alpha for $20B; our new model = to predict the leveraged loan default rate </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 24, 2026 &n= bsp; | <a href=3D"https://url6380.news.pitchbook.com/= ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUuARpNj24sz= -2B-2BJq0R8jnSi6MtZldadC-2Fm-2F3LHMitmHxg-3D-3D9iUI_I3w5d9c01gkD8gLzFEofZR-= 2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhr= FwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioV= SasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGD= OCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BG9zc1dP6-2F8Ki3RQKnB2Qo8AD= 9E17z-2BJW2DkOqdG-2BpVQNgJCjkXOuR9QQSfOBPfKWlprbA10r3IjaNQUuirZYJFUFEM41Ayz= Xz8W9vrhFXkDV0GNtcJK3vr-2BF-2FQFgLaUAvGSUjvs747H-2BthHkMIs2wBtLGqPdXoVZJLHk= DtIvoRD1id1miFkJw03WPoQVKalNyHZf2VpZ28YbIBkAItGfFMKhLSxhd33psdpw0XoFIWeJYRc= mnwv3jlAcMjVzk8nzdqsOG-2BvB0w6rnqdLyt741h2TC13pflJCkeRNSsh581X" target=3D"_= blank" style=3D"text-decoration: underline; color: #1D5080">Read online</a>= | <a href=3D"https://url6380.news.pitchbook.c= om/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrYCQ-2F7Wx1VdE7sYl12opJBSgX8wjgW= QkjpY2yE70mtuFtQh5JMynEp-2F-2B0ZsygXiW0dASWMAkXrIC3kg-2BeC0SuDoyGjKHmOSdfo6= 3E0RLyaXhmtZcu9qypgyxWwak1NhA0fr1BvoSfYroDWM-2BVTS0oRt95U99Dcs2eVuP4ojBepwd= sAC9_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB= 2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQ= Nd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFV= FXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-= 2BK122lcsc9l-2FDrS5mm0LQmBvsAbgEu97AAn38BrsImuHTPKw7y4Yx14GyhrZauHyzSAbpoOB= uzYEztyNI-2B7Gy04YTrZ-2FoKH3r6n8F2I6XO0xtLXNwNr5Ommu9GcNJIhgTNhoie37jWCOfzW= 2eemyoWSGjR8SmkCixh1Htd96QhFFMUgoqFKZUIKTD9SqSmaMiT7bQkc0-2BlUKb0X0tu6pz3f9= jiTI8vtTqSnrYPQYmERM0ZgWLYYVxWl1EH7dmDFFiSTuFy-2FecHoqUKZ9gHcF2yUEjAsspktm3= kczSURZGlXA" target=3D"_blank" style=3D"text-decoration: underline; color: = #1D5080">Manage your subscription</a></td> </tr> </tbody> </table></td> </tr> =20 <tr> <td style=3D"padding-bottom: 14px; 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font-family: Roboto Serif, Ge= orgia, serif; font-size: 44px; font-weight: 500"><span>The Daily Pitch</spa= n></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 24px; font-weight: 300; padding-top: 9px;"><span>PE, = VC and M&A</span></td> </tr> <tr> <td style=3D"text-align: center; font-family: Roboto, Arial, s= ans-serif; font-size: 14px; padding-top: 11px;"><span>Your edge on global p= rivate capital markets</span></td> </tr> <tr> <td height=3D"38" style=3D"padding: 0; line-height: 38px;">&nb= sp;</td> </tr> </tbody> </table></td> </tr> <tr> <td> <table lang=3D"x-content" cellpadding=3D"0" cellspacing=3D"0" bor= der=3D"0" width=3D"100%" style=3D"min-width: 100%!important; width: 100%!im= portant;"> <tbody> <tr> =20 <td class=3D"content" width=3D"460" valign=3D"top" style=3D"ma= x-width: 460px; padding-left:5px; padding-right:5px;"> <table lang=3D"x-main-content" width=3D"100%" cellpadding=3D"= 0" cellspacing=3D"0" border=3D"0" align=3D"left" style=3D"min-width: 100%;"= > <tbody> <tr> <td style=3D"padding: 0;"> <table class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; 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The timing is s= ignificant, as the share of loans trading at distressed levels just hit a t= hree-year high. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?= upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUuARpNj24sz-2B-2BJq0= R8jnSiSEdJ3SMc6yCxG4dUk-2B1FLw-3D-3Dokf4_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx= BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwO= tW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4c= gKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNB= ZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BGyiTYp6WUfuvg3S-2BPgmdq0xDelMevl-2BHg= BX04C5KVg6A-2Fi-2Fwp0XJCCYPQ-2F5M269H2FPwR3Knf1zPLcyAnK4JOo85SGuWq4X1rv7-2B= oUTj6mFX7jOpovh3DEaWyER54oDdLjAlmyruQzlb9q0YtyG6LKwB5r6xQTX-2B1XXtP3JUN3BW8= VAsUM3z146Kjzqph6n5Zn2TB0Xz3lERSL3GCETrUSdjG61Fa0kp-2FXIsIGQ4A5aNvCV3EATrGW= br8Ft1hkgKirAzFrXaj4JbZ-2B5IIYJOJ2DiWS96yQZsi9UvuHyoQce" style=3D"color: #1= D5080;" test=3D"" universal=3D"true"> <b>Access the Default Predictor here<= /b></a><br><br> =F0=9F=9B=A0=EF=B8=8F <b>The Daily Pitch: Un= der Construction.</b> We're working on some formatting changes to enhance y= our newsletter experience. Have feedback? <b><a href=3D"https://url6380.new= s.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzUuARpNj24sz-2B-2BJq0R8jnSid3PHCbSGAwWmHL24u5Bxjw-3D-3DGg8j_I3w5d9c01gk= D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspE= YJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqX= LwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2Bn= D9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BJBhcI-2BHgTIWh= V0PmyIGhyizik7RJmM4611AoBqIkHWEniw1MlPF7tI57TSXuERmT1YgY6snteK1-2FQidaLDZ-2= BdyTwRYr9OE54E1xwvE-2BY6G0vRley89tFVQ16yayyaGkDGinHLTFPoLHc-2Bq4nNpdeTDAuap= hLXZYzxYrcdzijyhqrUaEwkDR5S047gpsbwwqBfkEKL856Ryxh5pimN-2Bp0-2BZxej252lleHQ= KFKGKK76717ub0R1R1AWwBV-2FVuEFErkxa0GUtRDWICOrbWD9XKYcvv4nI8mqioR8E6pHfLW0h= H" style=3D"color: #1D5080;" test=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_580138" id=3D"n_580138" 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;"> How niche specialist managers = are winning LP capital </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> Last year's middle-market fundraising figure= s make for ugly reading.<br><br><b>Fundraising for US mid-market vehicles f= ell 43.3% to $94.8 billion</b> in 2025, while the fund count dropped 41.5% = year-over-year, as more and more money flowed to the largest managers, acco= rding to PitchBook data.</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-2BaqM7ONnvsnswouzUuARpNj24sz-2B-2BJq0R8jnSi1OsfE= d8WkNp-2BYR7Bq50NLA-3D-3Dn3dh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F= 3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd1= 2rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OA= oftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgU= ZtpuFMCF844knaa321TMcdeR-2BBbDTSt3QcfR-2BRo-2FvPk6UrGn3omIRruq7ouQqcDTPq3Os= KFOuY2F0F22f49dSmKp1vdHptSyRc51ZK-2BK7DhqpuKVmH39KP2BZ-2Fx-2BO8LGCQIa-2F5RS= vA6bEP4Ip5beHaHOncteD4FfRAY7CDykNEJACTLqVwc73pd16kWULGeh1SGw60O4gEf8KWab7Pm= tBPZCteN3wu2GXP1vj2Qw1zhWNmeRAY4dKe7ag-2FPlar1xOOCyHOJt5Jp-2BIoP1YlpWfzipbT= -2FKYuqwcpi4RBOhl1PKeJcI9jdmvtffxdKIHiC6MTjV" universal=3D"true"> <img alig= n=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news/73933.png" styl= e=3D"border: none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>But= a cohort of small, highly differentiated managers have closed oversubscrib= ed funds</b> amid the gloom=E2=80=94some in as little as three months.<br><= br> Many of these firms are focused on small and= mid-sized, middle-American businesses in what might best be described as u= nglamorous sectors.<br><br> The largest first-time buyout fund raised in= the US last year, for example, was the <b>$570 million</b> Good Springs Ca= pital I, anchored by the Chickasaw Nation. New York-based Good Springs Capi= tal invests in industrial and business services companies. Two of the three= investments it has made so far are in heating and plumbing companies, base= d in Arkansas and New Jersey, respectively.<br><br> Earlier this month, Holleway Capital Partner= s, a Missouri-based regional specialist, closed its second buyout fund at i= ts $175 million hard cap=E2=80=9440% above its $125 million target=E2=80=94= after spending roughly 12 months on the road, founder Holly Huels told Pitc= hBook.<br><br> The firm focuses on control investments in i= ndustrial companies in the Heartland and Sun Belt regions, including manufa= cturers and distributors of industrial products, as well as service provide= rs. Its core targets are businesses generating $2 million to $10 million in= EBITDA.<br><br><b>The success of firms such as these is partly due to the = way investors' priorities have bar-belled</b>; if a manager doesn't have sc= ale, they must have specialization.<br><br> "They concentrate on specific sectors and su= bsectors, with a level of precision that makes it easier for LPs to underst= and where the edge is and how value will be created," said Jaclyn Rabin, a = partner in the fund formation practice of law firm Cooley.<br><br> =E2=80=9CIt's no longer enough to simply say= , 'I am a generalist lower middle-market manager,'" she added.</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-2BaqM7ONnvsnswouzUuARpNj24sz-2B-2BJq0R8jnSi1OsfEd8WkNp-2BYR7Bq50NLA-= 3D-3DIL68_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8P= zsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEuky= s2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-= 2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TM= cdeR-2BKMnkYi92sgPZQByVMuE2Le2-2Bku8pYKwLD2Z-2Fiu4LFqlKX5gzKTF83bYp2uYFovB2= tIVOye8t6nXNKpPLimRy055-2FvN11Y6sndvTZzbW-2Fcf-2Fq-2FFb7bSTx6fx8Zr0HL70wU2k= Ijab2doDHk8AprDqWfHzOpmrw9ks-2BRjfbQzVW4q-2Fj9xxByRD5KltLwJVfODojFxH-2F3vxn= kaTadDxuU3U2VdnWNsQpV6jYRRECkrX01LIW8eN2g1uqp41rFPsoeE-2Fyx9QXPIHVKz-2BhoQX= 4qcp7ip-2B28rwRad4N1OzpfK8ly34" style=3D"font-family: Roboto, Arial, sans-s= erif; font-size: 18px; text-decoration: none; color: black; padding-left: 3= px" target=3D"_blank" universal=3D"true">Read more<img height=3D"24" src=3D= "https://fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-= align: 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 lang=3D"x-content-area" cellpadding=3D"0" = cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table lang=3D"x-content-area-main" cellpaddi= ng=3D"0" cellspacing=3D"0" border=3D"0" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td valign=3D"top" align=3D"left" style=3D"pa= dding-bottom: 20px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;"><i>Related research:<= /i> <b><a test style=3D"color: #1D5080;" href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzUuARpNj24sz-2B-2BJq0R8jnSifouAslgOLdLFfmX-2FZu-2BLTg-3D-3DB-iV_I3w5d9c01g= kD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpsp= EYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghq= XLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2B= nD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BE7h-2F-2B-2BT= t-2BqbYp-2F-2B1W-2FRvFQhEasKakpz0KqQxx600PPqL23cB-2FXqaGoJGvQZASG2jlUl1FdaS= gXyrSIV0Epslwhe6t3OH8U062ARQprbnIwa14fONVcwkP8ecaB5S7dtzlfn-2FksjE0aA9RcPBO= 7J-2FBKtAgYomNrna2zfVEF8dGlKtkEAznnz8NlpI48HRq3Tq50WnhCFKPMDpuPjksaG2vhfBCr= khOjSiUCKmt2BwfefJTL2iIYeUkLZkUC6icw0g6DUfDqkUslpLxdg3sdKiF4Hprlbgwa0QJolpq= 5LqiF-2B" universal=3D"true">2025 Annual US PE Middle Market Report</a></b>= </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>A message from PitchBook</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 20px 14px 20px;"> <a na= me=3D"n_580130" id=3D"n_580130" style=3D"font-size: 0; text-decoration: non= e;"></a>=20 <table lang=3D"x-news-group-title" cellpadding=3D= "0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;= "> <tbody> <tr> <td><span class=3D"outlook-caption-override" s= tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s= erif; font-weight= : 500; font-size: 20px; line-height: 26px;"> Put your brand in front of pri= vate market decision makers </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">Reach = the C-suite leaders shaping private capital with trusted data, actionable i= nsights, and high-impact advertising solutions designed to elevate your bra= nd.<br><br><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHe71Xgn-2= FHkwl-2F7wtgecQb1HQ-3D-3DBf_8_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F= 3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd1= 2rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OA= oftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgU= ZtpuFMCF844knaa321TMcdeR-2BPicbVqyaNCtm5Y9XfOf-2BzY0xn0QgvZiNVYfqHrXVcv-2Fn= xNiPJ7MLHpZ9-2FeUUJGa4F0yW9694UhWEvbpM-2BpMR-2Fw1D3GqMRqT1yrDFIZ7Zx0FjFgC5F= 7Rmk6617nLWsjyd5oeyS3xMuxgKDXLPf2FNM8FFIysGaaiR5isY8qE8fbu4kuXFF5zyavJaa3oI= UfOiLegllZlNrs0bmJVuiWPBWQyNIcXg-2B-2B73PuK4ExLaJTLykhjuI-2BciC5bMDYCNLlgDi= RCwrkHsdoHQGTxfS-2FHlngdRTS2i9myUYcxX3tx9-2B7-2B" style=3D"color: #1D5080;"= test=3D"">Explore advertising and custom research opportunities</a></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Catch Up Quick</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">=E2=80= =A2 <b>Canadian AI startup Cohere is to buy German peer Aleph Alpha</b> for= a reported $20 billion, as the push for sovereign AI systems accelerates. = <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4= n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHef5mf-2F0mRs= QqTeQ-2FHQvQzHg-3D-3Df1dO_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= ZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbz= hYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftv= D-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpu= FMCF844knaa321TMcdeR-2BK122lcsc9l-2FDrS5mm0LQmCp4xW2x3vBb8-2BsIy6fJuQ8L6MiZ= -2Fet7Dfa1ZSB5y2ozuV65N3s2ys2GJa3f62offAyEE50q51i0RsZbgdnVSNkRy2Ov7b-2Btog5= EXGa-2FxRVA0dPlxlxOs4dR0ZzkSmQvKGDvSMZMBSGp80FaMbe06DoAiXZ0pguCecG7-2BoaRSj= GY2xm-2F-2BIdrA5O8juoThGOU3WNmoWITLHJGr-2FFeV1kuwv4cfTArSRAHTovuo0HmQHFOW5Y= R-2BTIJXKm-2Fnaz5Vqa8VsLbQJfxy17rDgsBOKGNhmR" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Find out more</a></b><br><br> =E2=80=A2 <b>Just out: Our Q4 valuations dat= a for public companies</b> in the AI sector. <a href=3D"https://url6380.new= s.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON= nvsnswouzXSVnT7nSOHPuI1WfuIjjHeT6K6LNWv0o8F5zKiy2gxvg-3D-3DnYb4_I3w5d9c01gk= D8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspE= YJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqX= LwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2Bn= D9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BK122lcsc9l-2FD= rS5mm0LQmDyXAdnRBvrDn1-2BBVTpKoYo9KdiD5vhTcw98LvUnKsCmpo5ZE-2B-2Fy8BY3Ac7UK= Ct61vggL-2FWBdNI6pwaNesCEW2AXinhZikJWjqF8eXKTQUxUaypQYYJKzAgJ52EHkFIWECCO57= im4WtSg8llQKd9YGdAVzJAxcPc2JoqhUCwfLmbrfvNbcr-2BdizV2ft0BAiKjqVDXiH2Pgy4cbf= rcWVZnnb9ndrzrnE5mw7rYeUMq7EBPU8DTpUe5nWc91dqQCdKA-2F2085gBd3rnBtfnnkc7WDq"= style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>See the data</b>= </a><br><br> =E2=80=A2 <b>Software company Medallia is li= kely going to be taken over</b> by its private credit lenders, PitchBook LC= D reports. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHed= DeyKWqQWiYLlQsagDVinA-3D-3DtMGP_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-= 2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QE= d12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1= OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2Fmm= gUZtpuFMCF844knaa321TMcdeR-2BK122lcsc9l-2FDrS5mm0LQmCYcNFyrnao88RWnujDchMUe= yQSQNML14IkT35vWvIPTe55gzVyc2Za1MNzA3LRVhvqz2K5agiCJv-2BZ15pvlNLfdoKraDhPUh= MAKUk0tRl8nGs3SIYwtwZviM-2FUXeQh-2FFMNBaxiXVBbscef6fL-2FFrT2wYiAHVdY4RMs-2F= sC7OSRE01iT-2FTrChGRF6sBtEEAexuYp0ikRY7tGUb1t-2FHdh-2F9lXPhBl3XO4CvxoYASWtE= P46C75UmCg6n6MjT20-2Bx0aOLf0igM9uwqRDuTpkJZQKXkH" style=3D"color: #1D5080;"= test=3D"" universal=3D"true"><b>Read 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_580148" id=3D"n_580148" 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;"> SpaceX's $500B premium is gett= ing harder to sell </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-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHeuY2cDG3fg= mDlnDBhL3pR7w-3D-3DyZT-_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhY= z-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-= 2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFM= CF844knaa321TMcdeR-2BK122lcsc9l-2FDrS5mm0LQmB5z5cgq8nD4ySoZ7JJWzMqo7oeoHreM= IT9L5-2Ba3eBmSokMRXyrRC2OWA3SUliMC1DdmYiiDQfrRygn-2BJO5pa94kMiavFHwhinTmN6v= aYN5b1ChCzXL2LB0Q-2FfJVaES1tnzdYbLiK9tVVPbTO2zxuhgeZVnbrJV-2FyOkkp-2Fkk1hB8= 4eL2dXhOgSnTkuZpyxWSLnRyMHL-2B7gS6KRsIVlKeVakNlNo-2F4uoT0Mc2GOUR-2Bq1L2pyo8= ujINTazxRRv3Gq047lmG4ku22INDmRK04sWyBO" universal=3D"true"> <img align=3D"c= enter" alt=3D"" src=3D"https://img.pitchbook.com/news/73938.jpg" style=3D"b= order: none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td align=3D"right" style=3D"padding-bottom: = 8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: = 27px; color: #78766F; text-align: right; font-weight: 300">A SpaceX rocket = rises over Pasadena, CA. (Mario Tama/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 = Franco Granda, Senior Research Analyst</i><br><br> SpaceX's agreement with AI coding startup Cu= rsor=E2=80=94a right to acquire the company for up to $60 billion later thi= s year=E2=80=94is the latest bill coming due on the valuation gap between w= hat its core business can justify and what its IPO is asking for.<br><br><b= >The $500 billion gap rests largely on an AI premium</b> that's increasingl= y difficult to justify, <a href=3D"https://url6380.news.pitchbook.com/uni/l= s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHPu= I1WfuIjjHe-2BdxdPKuipzNHApnepCzJ8w-3D-3Dg7Vf_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwa= rHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5So= TnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReT= dr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5= jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BK122lcsc9l-2FDrS5mm0LQmAz7DI3Pl0U= 0txk1mAgY26Vwfg4EZdccfK-2Fcve71HJhAVW7DrR-2FUOdDa1o53ABR-2F5nQ43hwFfZtV7xpq= NUFVVDeQUZ20Mpm-2B-2BvWmEEGUk1a1rk0TFnKDJ1ocC6CIsxTJoLATaWPzKO9azsLLFnfazW4= txJVlw-2FLUA4de8fGybKbi-2FBvtY8u1StXLaXS0YQOpsz-2B6wTyL5OU5bF2MbPCMFl6xxRMI= HvysgGw5xGTtCLsmsdke3-2FESgQHxVUVAlbCQvbVyVUwR9ONcLiAUwnm-2FV8G" style=3D"c= olor: #1D5080;" test=3D"" universal=3D"true"><b>according to our analyst no= te</b></a>.<br><br> Our sum-of-parts framework values SpaceX's r= ocket launch and satellite connectivity businesses at roughly <b>$1.5 trill= ion</b>. The rumored IPO target is <b>$2 trillion</b>, or 125x 2025 revenue= .<br><br> The company's running tab on AI efforts keep= s growing. xAI spent $13 billion on chips and datacenters in 2025. In early= March, SpaceX paid down roughly $17.5 billion of xAI debt at a premium to = par.<br><br><b>Cursor both adds to its AI bill and acts as an admission tha= t xAI cannot close the premium gap alone.</b> SpaceX will pay $60 billion i= f Cursor successfully trains a frontier coding model on xAI's Colossus infr= astructure, or $10 billion if it fails.<br><br> By offering the largest breakup fee in histo= ry, SpaceX is signaling that xAI's capabilities alone aren't sufficient to = achieve its aims.<br><br><b>Dealmakers evaluating this IPO will scrutinize = what the premium is for.</b> In the coming months, investors will watch the= S-1 for how xAI and Cursor are disclosed, any further capital commitments,= and whether the Cursor training effort produces a model that competes at t= he frontier.<br><br> If it doesn't, the $500 billion gap will hav= e to be defended by the story alone=E2=80=94and that's a harder sell than t= he one SpaceX's core business could make on its own.</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-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHeuY2cDG3fgmDlnDBhL3pR7w-3D-3Dp= TtV_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2= QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQN= d1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVF= Xx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2= BK122lcsc9l-2FDrS5mm0LQmC-2FBuIOyIUeLHGWkE7yCj8WvX-2BijYVteSy1HgZgUXTR5whkQ= -2FjQWvV3t07yAB8H6IAcoM9x9-2Bdmwc3WeywKYMvDAFeyUB1xTjPd-2FEVwJTh633xtBXOmiV= jTxOFKW5BjClSkH1-2FSyUrT1BsNRnhaS-2BOT3aOnGa8V0uL6KMwkKQ3qOKmcowQrcKAE-2ByN= JPVPlklLgqh0V5viwl9wBFyJhPJSNcCwlzQ3SKPOcnvqBnHIQLX209oZj4iiaYVNVI6te8pRTbW= mCd9zVsBJIJkv3ghh0" style=3D"font-family: Roboto, Arial, sans-serif; font-s= ize: 18px; text-decoration: none; color: black; padding-left: 3px" target= =3D"_blank" universal=3D"true">Download the expert analysis<img height=3D"2= 4" 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-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1= WfuIjjHeSyw6l9OoNFSzPiG16FyVoA-3D-3DhGxt_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx= BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwO= tW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4c= gKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNB= ZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BK122lcsc9l-2FDrS5mm0LQmBo92UJB-2FcFHP= oHBCPZxpl1pFqh5Dhansj4VkZXhjNQAWdvtP4VN7qfyF-2FqxxNOT0WaIci6JcBoDtTDZk5RyW-= 2FLPP-2BkP72zYJHqcaRcoDAW-2Bg6TN6RvGCbw-2BqAyev4WECkhHqtzehXlxMXuW6-2Fg6xxT= PDQCkP3zZ0w2lA7MTfjeFbsTL3s1sUbh8qBM1-2BiSAwIJ3Cnq-2Fk877NSq0-2FVN-2FORpqua= 6NB2UGa9zIH-2BPARgfEFYCFSrYzIbS3tFP5FF5na8-2BDj5ulD4zURAOtUJZ1nLg" style=3D= "color: #1D5080;" test=3D"" universal=3D"true">SpaceX Initiation Report: Wh= en Venus and Jupiter Align</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>Blackstone is bullish.</b> Pres= ident John Gray says the AI infrastructure buildout is the biggest driver o= f the firm's growth right now, as Blackstone posts larger-than-expected dis= tributable earnings for Q1. [<a href=3D"https://url6380.news.pitchbook.com/= ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXSVnT7nSOHP= uI1WfuIjjHeaDztl40trDGkVIjtIi7awQ-3D-3Djtjv_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar= HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoT= nwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTd= r4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5j= NNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BK122lcsc9l-2FDrS5mm0LQmD8KWfab3Kck= cMS932MJEuCFUPg6F5XaVwzpNeUyOJ8nmmmznd7IL2zisECI24B8VNcslY5S3RBEE3TNuJF-2Fy= gfhoseVufkAFktpVy5r7Um27s6wvlIj2NW4SJqcxKZTGWGnfntSZUpPlV6S5Hn0DDKQQn0sn2ps= ifkx7aX31F5BRGnPI3TW84mBZHO22TbFg9HBUcIaPULsiTX36-2Bqbgc6Ml4fEj707Sjtd5ncIE= 8zjYuEFLFtd-2BCrljDUAsTjl3nfQSFk9sbMICp6BbfGh9L1" style=3D"color: #1D5080;"= test=3D"">Bloomberg</a>]<br><br> =E2=80=A2 <b>Teaching AI models to say, "I'm= not sure." </b> Researchers at MIT identify the root cause of AI models' o= verconfidence and have proposed a way to reduce it by 90%. [<a href=3D"http= s://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHe0U0b5-2Bgyj2jFh1WXA9-2FWYg-3D-3Dj= lwc_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2= QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQN= d1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVF= Xx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2= BK122lcsc9l-2FDrS5mm0LQmBRtlqTr6MTesBLFI7kUSda9anCutBXHUhh5ZoQMIuNkkvHBUwAB= 9nbooEeeNN0w76C-2FoWA5jK0ALdJ7rqrIQLhcfoX8BvE15qoH-2FXKXZlr6Q3ha4r6s9-2Ffva= 9aix4i3acIkoOCB3RCy-2BHeuCErkUjgDo97x3JUAqLx6SW3VNA4lFqECFDe1Wms9WfkKigUnP-= 2FcYgdx1h0xVnFq9ykTyxrx0iMkLQJS-2FYD4i-2F1DCt-2FTIWd14f3v-2FBojbq7VJ-2Bbgt2= Ub0JamBB-2FHYlT3SCdhqERW" style=3D"color: #1D5080;" test=3D"">MIT News</a>]= <br><br> =E2=80=A2 <b>San Francisco has a luxe proble= m.</b> The city's luxury home market is nearing a tricky spot. It's flush w= ith wealthy buyers but has a shortage of mansions. [<a href=3D"https://url6= 380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM= 7ONnvsnswouzXSVnT7nSOHPuI1WfuIjjHed9LfMyvhpTvG-2BmTfuex5Hg-3D-3DIGq8_I3w5d9= c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlE= vpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FN= BghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee= 2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BK122lcsc9= l-2FDrS5mm0LQmDJFAAqzAjdS1q51nTS8IdRkrif8mATurVNPBkYq0vYRiwCHJQO8P24XjFi-2F= xysYp6fhY9kfn63E4xbYrtoi9GDeZxC1sH3GQS-2B0e5BOvocRq3R5QtTuvd2EIMuCmkXy1ypIV= zmJ2AxemndKE9v8hY-2BF2GmY5bp3dqr5xsOk1hVkGD2a8fhMMVArDri0oVbeh7GaLPpoo1L0uk= w2mKLWZUBj5B0KY-2Bt6pHghAi4-2FXDZgFZkz-2FlocpUPcw2rbjV8-2Fai2Om6lVRubvqDM0X= nG82-2F-2F" style=3D"color: #1D5080;" test=3D"">The San Francisco Standard<= /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;"> 720 </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;"> 2997 </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;"> 1413 </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;"> 25 </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-2BaqM7ONnvsnswouzVUvq6nMK2D69QA9BKoojD9qkkGNskLJtis3kDwBLsqRA-3D-3D6Kh= B_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QR= VsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1= CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx= 5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BA= 1sfB1WE61oI2FIfX-2Bkt9bjYlyT5VoOqWIWgUtFSzUeX7c6m3OHil8mM6eLcRg-2FYlmnP-2Be= vmwOZNbYB4ev-2BjSgyFDEk6pMs-2BuaLl-2Fl4MG64dlY0PoVTbFazkpztFSJnvjNxP785qHV5= z-2F6N1mFw9LYTK1PHVN-2BHWxg1dErXSn93exPxheXkjARgMwfG6fxH8J9i9SzvQoUMV1YtxXd= IuQfaSOEBpw3om7uvRwq7CJG2pNAzyn5h7Booghy1A8glqkY-2BlLcBM7iL4euiQWpMt3YAB87O= -2F-2FLIjmh4X1YkFHfY" 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_580144" id=3D"n_580144" 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: 2020 Vint= age European PE Funds </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table cellpadding=3D"0" cellspacing=3D"0" lang= =3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: = 10px; min-width: 100%;" width=3D"100%"> <tbody> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Median IRR</td> </tr> <tr> <td style=3D"padding: 0 0 20px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 68.04170444242973%; mi= n-width: 68.04170444242973%; max-width: 68.04170444242973%; background-colo= r: #1D5080;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">15.01%</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">22.06%</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;"> 0.23x </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= swouzVUvq6nMK2D69QA9BKoojD95Py2Dd-2FI0yja7FOqECSrDg-3D-3DHpad_I3w5d9c01gkD8= gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJ= CH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLw= fDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9= nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BA1sfB1WE61oI2FIf= X-2Bkt9a0Wt6ZvbrCN2ry7068cFwx-2FhLPBU6Ci7-2FaoYuSaghN-2BgPzNrfBFMPgVdO-2B16= 8L3O5LNCTxDzXctV5Otoh-2Bfi1od0tonoDNRneEXm3Q7XzqUfbhq9XS8oXF66GVp6pk130jGE-= 2BroCjW1OLLZVTS1TR8C6s6tib-2BWH9jZuDEp4WQ0B7ODYSZWDDuI8Jgpav7EBkGkmeQgUPkWn= D0oMv8AGggQchaVxtJTT4smmILCS8aqll-2BXv95bxrS0mkoWfko1fbMWT8kRRe1Znjem-2Fkfd= zBD" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universa= l=3D"true">Systematic Growth III </a></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzVUvq6nMK2D69QA9BKoojD9WrZy4rLFUgeUg6gYlay0Uw-3D-3DhDCk_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH= 7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfD= ujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJ= FWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BA1sfB1WE61oI2FIfX-= 2Bkt9YsalHPuaSjj0WVU60OtArGC1a6HWaW1nkMYIQL2hS1oFEmpsjeykDGJEtsKaO4yPMoEMUX= uJFIZIA-2B9vbqPTqfJ8ANGJjtgGUO2lDssB4F8AACIjPutCgO3ussrXvszMEX17LqUCtsjgOTQ= PoZUxzInGJ-2FgwbW-2BKuo3ESR0seUM9QElD4Q2xw8ofsjrxaopqkCYYkl6aE-2BA6uPcyDPae= T5N-2F2hKedS7-2BYjpdJh2TZkDk9VxyejmPwx1oQeduzuk3V0TBMGejOm-2F3rcrt-2FxKX9-2= F" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal= =3D"true">Beyond Capital Partners Fund II </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= swouzVUvq6nMK2D69QA9BKoojD9bF7iVULKmlaric4wJDOmBA-3D-3Dj3Z1_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH= 7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfD= ujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJ= FWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BA1sfB1WE61oI2FIfX-= 2Bkt9b1T7ppnePaDYTd-2F2gFrtKXnRjnN-2FlMq3znpbH8IYUl6LsJ4yKnlPFy-2F6PvvfTJwX= bYvWsNRNWzITqy2t-2BsAwmq9noqmTEruyQFtbVOE-2FeEp2iRME2Br-2BLoB8vapY23vcQgA06= 6p1Z9WWZxabVz3nSomT3OxZshuBeLbt-2B0bl-2F-2BNyj-2BEj7ByUVA9L6wniLUdV1ND-2Bl8= DLmt-2FcyXHITIQPdZdQtHnJ-2B-2BJhDprDny3swC274yUi8iFed6kwiYvPhnB49K0TqJbuGi-= 2BbPrBWhO-2BCr-2B" style=3D"font-size: 14px; line-height: 24px; color: #1D5= 080;" universal=3D"true">Oakley Capital Origin Master 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-2BaqM7ONnvsnswouzVUvq6nMK2D69QA9BKoojD9v2LPCi= KKVhp16SEezagqzg-3D-3DvCtc_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rb= zhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoft= vD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtp= uFMCF844knaa321TMcdeR-2BA1sfB1WE61oI2FIfX-2Bkt9Zz7r0TKH05rVywOKKG58WpfJAudU= xjK9-2F-2BEBuWtwu9Ql8GxN1PJVMNtPmsoYxE9gRhIUk7oBWuoiYwqI-2FkyZBzsyt7f2S0Q0y= 8ZHL4Idfz7KJR5nnu52A4p3wBtNzum6EAkaRw37fptlOvlA8pL43xtVU4aydirmGBTN1R0tQDCc= aaxaLKTUslNajXuG0eLtNU1dB1EuyBLrgDzELxM80iW45UD8ubjLv0u-2FU33nmMTxMdoNxvaz4= lr-2FRZ2E2jQiuuRSrFI6o-2B65uMGbsjAwSa" style=3D"font-family: Roboto, Arial,= sans-serif; color: #1D5080; font-size: 14px; font-weight: 700; line-height= : 24px;" universal=3D"true">32 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-2BaqM7ONnvsnswouzVUvq6nM= K2D69QA9BKoojD96vERdW5XOIiAGn1kYo9LCw-3D-3Dt7pE_I3w5d9c01gkD8gLzFEofZR-2Bh6= VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP= 5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasB= ReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRk= be5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BA1sfB1WE61oI2FIfX-2Bkt9Yca1s4b= 1965KBYCSjlf0RQhWe-2FS-2FReviD-2FHlMGpBCkg9XJ6-2BDxMTpY5VoBcm1RbTWmfxw0wn95= LQraVZurMhojFbIuHj1MheQ5yAMRLfnPAg00TwzDNRoG2BSKYwWM0-2B5am-2BfLpFOgL68hIVA= uyuni-2FX-2FIesbOINiW39nQA0oaOZT1dCSXRi7T-2B-2FGFhEBuvmae-2FkVbRtzWqnrpW6X5= UEZgd8Si-2BK7K7m5IMOL-2B7n3RYDZ3LAnben4BMgPgEUqL33CttGDuedgpB2T8DRw1nSKQ" s= tyle=3D"color: #1D5080;" test=3D"" universal=3D"true">PitchBook Benchmarks<= /a></b><br> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table class=3D" " cellpadding=3D"0" cells= pacing=3D"0" style=3D"border: 0; width: 100%; min-width: 100%; =20 "> <tbody> <tr> <td lang=3D"x-advertisement" style=3D"padding-bottom: = 20px; text-align: center;" align=3D"center"><a target=3D"_blank" href=3D"ht= tps://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf= 6GFa-2BaqM7ONnvsnswouzVUvq6nMK2D69QA9BKoojD99nMUUZzq6mprooYPNP1YWQ-3D-3D7XE= I_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QR= VsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1= CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx= 5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BA= 1sfB1WE61oI2FIfX-2Bkt9b3YbIYH7G-2FQK0-2FaAie14XlvJ3ilI7us4wqBc9s9uR35ag2nMN= jLAd-2FoFUo12r17xV22x8GWeG7VB7r-2FdcPkHylX7uPxh4qviWgKUOF0-2FKlgWtp63HlQgRo= 9lUZE3TX-2FevljG25E22hOlecxekI1Nuna2Bc-2FfsScx5xJy0ORn8MKSwVwZOx9KpMSvGoCLs= -2Fj1Pq1mYwf3TJke7DBAUGNG4yT3y7q0LC2ennDNkqsLg0rWEI-2Fop6-2FMFGiNX4Er3wKWFy= JlUc8CULG6zL5cL8i3Z-2B"><img width=3D"460" src=3D"https://img.pitchbook.com= /ads/ad4530/Churchillmarchhba.png" alt=3D"Ads" style=3D"padding: 0px; margi= n: 0px; border: 0px; display: block; width: 100%; height: auto;"></a></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>People</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>The= Carlyle Group</b> recruited <b><a href=3D"https://url6380.news.pitchbook.c= om/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVUvq= 6nMK2D69QA9BKoojD962LbHR8EH2UPR-2Bdau5AIdQ-3D-3DKCVv_I3w5d9c01gkD8gLzFEofZR= -2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADh= rFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7io= VSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FG= DOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BA1sfB1WE61oI2FIfX-2Bkt9ZJ= yOU6u4gwYecTj-2FOYsw72J-2BVaIaT45h75CLu7QaM7ynT7Z-2FRKTYc-2BR-2BwKetsydBJxt= k0A4PrhAhYLObNAL6uXFVfVsTUVdaPe9V0sCjphOe9AKi-2B5OrLREl-2BEOv4PhW4dDhf04-2F= FgRJM4SxP345AL7AB8YyZtimn1xWSHdw8eyKQ0T2n7rlP3QmL4Ka4ctT620iwVhQQVs491EDx0V= 3d26N62PPwFBm3mK2pFjI85-2FbtAD-2FcLGrO130lB2GywuldcOdXhtFKn93DXH20WPZ92" st= yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Daniel Tanase</a></b> = as a managing director based in London, Private Equity News reported.<br><b= r> London-based VC firm <b>Balderton Capital</b= > hired serial entrepreneur <b><a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVUvq6= nMK2D69QA9BKoojD9VuUqC6qErppno7GBwKUNhw-3D-3DPwD0_I3w5d9c01gkD8gLzFEofZR-2B= h6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFw= OP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSa= sBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOC= Rkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BA1sfB1WE61oI2FIfX-2Bkt9ZbFzO= MM03ySzOjydQX387ClLFcgkprbaMVafmTIOJfLOn6cf1w7o16aek6btDk-2FrpRXCyT18cHRrKE= VJ2dISA-2FeWu6Mdv3aYMEOjzm3IIyXWcPmx6Dvc2MLtHakWE0GiaeDhvsiEHRysUWPAdrH3RmL= Ira7J6kf6HjoulG4gpkiJJnxWbrGHoBCvZ7TeIO7aGRqbW20DdE19kiaDBtFPU36KZKrlSMdDYh= 0J4aYN-2BtecledkAhpfcV-2BmRu9OC1AKU5gWPMZwQzaruZUeKPJ58e" style=3D"color: #= 1D5080;" test=3D"" universal=3D"true">Phil Chambers</a></b> as partner.<br>= <br> UK mid-market PE firm <b>Bowmark Capital</b>= promoted <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVUvq6nMK2D69QA9BKoojD9I= 3uKqLEtwXG-2Fzki1k1kbHQ-3D-3DdE7I_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmz= y-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3= QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7E= C1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2F= mmgUZtpuFMCF844knaa321TMcdeR-2BA1sfB1WE61oI2FIfX-2Bkt9alDCNkHj7WHDk9OVquIlO= k9VN9cpKs2z3EZ5gnfaITujIJ2RmKL14RW962aiS6mD0vMZlDaRVgu7kjGgLk6QR0x5T5tg27vR= GSstW4fuzDtCTtoUwI2nF9UQ3gf9ID-2FwGzqUv6YGD3tsXK37fUPX6T-2F4OPuvbSLJLzTHi6F= G0W2anTkRvKlBoaCtbFJ9rl1za5rTsLzogDeb7yHMoMKvbk7DuKm4WRn-2F5L-2BXukDss73U-2= BfmBQ5dGLXSAFkGS-2F4UqII0O2HXVkrukv1W2bwGbRk" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Jamal Lakhani</a></b> to investment director.</td= > </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>VC Deals</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">San Fr= ancisco-based <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click= ?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BK= dI4ebNpU-2BwAjkd4gYBojMLCsAo6hQ-3D-3DtbEb_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHk= xBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnw= OtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4= cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNN= BZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhyy1keKIZrtEOhRb= R-2FvRYPVOBnxSsMcQP7-2BocmlkL2qiB1WslvQCj53R64WIcydY5QjYxNTsUHdG0cMa3wiDGfh= -2FendiJhGEkVclfM9kelRH3D7QO1da1VXsc5KqFB3F2-2BEgjtAVPt6evMSO5Xlgm5AyYNaWz-= 2BkeNpODslSy9sba0gbIEPPB6mD1S0cYUalfxdCc0wLbcxsoEojwNHLMqGj7-2B1rG5MIOE3cKV= dNbBs9XQCthWrMLlq1ii55IyLuka5I7KgQY6jP1C9sKuceJGjp" style=3D"color: #1D5080= ;" test=3D"" universal=3D"true">Omni</a></b>, an AI analytics startup, rais= ed a $120 million Series C at a $1.5 billion valuation led by <b>Iconiq Cap= ital</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cl= ick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-= 2BKdI4ebNpmVS1rWUehupRuEa1N5226Q-3D-3D6Sl3_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH= kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTn= wOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr= 4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jN= NBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhzREGnfi0p1quVl= coCKG-2B-2FjLk3spbv4u9XeP6hphb3zB2vCortnBXXxmQY1fDodid-2F4eVhMzIZhX1f5C85M2= 1xqNLJn-2BD8dTExnIZ3I1kWgHAMuhTDxiJuoP3DRmKBY4-2BNwz2RHbUgCXzNf3fL5sQRAx6in= HzNiFzpMirHimf-2Bb0jUEhouJT3LwAMZHs4p9HoQUmMxSHflZVkIdAe-2B0uECu1wr4lXthrqS= -2FFD5zL-2BxQR97GCrgsDCXilof2E96B6HzYXxuMJtaJpw1X1FVSfQsj" style=3D"color: = #1D5080;" test=3D"" universal=3D"true">Tortugas Neuroscience</a></b>, a bio= tech startup focused on neurology, raised $106 million in seed and Series A= funding. The seed round was led by <b>Cure Ventures</b>, which also led th= e Series A alongside <b>The Column Group</b>, and <b>AN Venture Partners</b= >.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4e= bNpfu28bA2xTSNrtXSFcbvf3Q-3D-3DQc9v_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf= mzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SH= h3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia= 7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-= 2FmmgUZtpuFMCF844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhydJqCtd4AROPz7RQtS30c= 8KJkGxvgy02AU9iZAioQgiFtEjxZWa5JDCMLirFPSdwPoKSislLc15biInEKOu8YNS8Lj9BrW9l= PI6P9I3QJ4OEBNBOvRh-2FNzUGG4e8-2Bd5QRtTe2UmyOBr3JTyAY-2FABs-2BQFMrVV2G-2BgU= fbNB1jjo8rHWFl7lGFQqrvAGb5y1dwdTQxJWhpeSIOfK5rxszm1hkDnnGQR-2BIvEQu5owJSoEH= ZxXaIij3TcKIvtNQ9NeAObCPKSqU8isOvQ6ZAoqmlMUo" style=3D"color: #1D5080;" tes= t=3D"" universal=3D"true">Cloudsmith</a></b>, a UK-based artifact managemen= t specialist, raised a $72 million Series C led by <b>TCV</b>.<br><br><b><a= href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73Br= X4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNpsVlIhO0a23LW= vJ9-2BPBFeoA-3D-3DnUWR_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbc= bdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz= -2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2= BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMC= F844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhzTVffFapC4ydhDRPCHaaGiqSE1StSu97MN= 9u2DWSEjRrtb0gvbJI-2FZysYvjwDF513NpFkvvUQbkPVRTJi4nLKrD4Yeo1VQLo1HHh1A7QzGj= apV5xQ-2BBdrBFCh3iMwWNfwUEbX4UsibIKODpar9pB1dat2CWYxwOPPc-2BmcehmxqNOccqlD0= xLmcrX6hd1kepKx-2FPT26go8rSOqVeD0MWoVZHIl4qm2iqExFIULTLSF4UyPhog82ZfLmCyN4u= VxAAMrE4C7nboMXo9v4mYZSVpEA" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Orkes</a></b>, a workflow orchestration startup, raised a $60 mil= lion Series B led by <b>AVP</b>.<br><br> Paris-based space infrastructure developer <= b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n= 73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNpdO0M-2Br= AqICH03aEODrgViw-3D-3DF6rg_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rb= zhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoft= vD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtp= uFMCF844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhw2fQzSub7ZSzSVT3z3JEqlou5n1w5n= SzRie8lkAga-2F56y4hLRJdgDdhSK7vuJNyNsr4GICqkvSZuOiE-2BxMFdXB64yj2WbLqeT3e5s= WvvGKsAmSypwF5CiIqp8U6PHy7qHmCaIlgxIhIGA2xUS8-2BlLcDUr0-2BQeKRh39a6ZnRQmjti= sdGWEM9ucJ5qxJoszLDbTnSvhy91mGgvDHtE6Myl8nR1gai5mV1ktQtY3j0aVssnn-2FM6UlNyu= 6dTvqWOvhjsiXg26bab8HvfnEPkVKpQFr" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">Univity</a></b> received a =E2=82=AC27 million Series A from= investors including <b>Blast Club</b>, <b>Bpifrance</b> and <b>Expansion V= entures</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls= /click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2= Fi-2BKdI4ebNpmGuRjU3YBYao-2F3SALJhbpw-3D-3DYvqw_I3w5d9c01gkD8gLzFEofZR-2Bh6= VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP= 5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasB= ReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRk= be5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhzFTdvlj1Q= RtLU7zVZZarJrywgSMrC-2F82mDCWEqnmjTOLmfPVO4f-2BrDVVKT-2FukzQU18XOdWBINOzFq9= BiiAUygWrHNmSGmx2jwR77ru0hGGhrq1nD-2BJ2mCNR8zE3B278guvzwaxHGIxgY-2Bq5rnVshv= ywDznhwSfxspLL3FcYKoQmBcVl3ly31UbkgGFhf0kKHaZuiWZKm42TpwS9-2BqeI8CPhR5YDBT4= t4MzcfYcsYQq-2BxlOFYyddQ6n1Z7RWVZS-2FoN31ksv2aq-2BUgY2YXaP-2FRlc" style=3D"= color: #1D5080;" test=3D"" universal=3D"true">Decade Energy</a></b>, a Pari= s-based startup building power infrastructure at logistics depots, raised = =E2=82=AC22 million in a round led by <b>Eiffel Investment Group</b> and <b= >SET Ventures</b>.<br><br> Barcelona-based specialty coffee distributor= <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d= 4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNpvBEJCl= UgnD1yPOEmajocvA-3D-3DYqZl_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rb= zhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoft= vD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtp= uFMCF844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhy8fOsz8jY7iBWe8ylMo382PF-2F7lk= mmHVL9R497CzQGnXuRC-2BbqkjX48dsYPqRvlGled0RUNHSorbuACVLYvzYGhT283E8PCT-2FAh= WJSmC3FgkP4b2R9Fpkt4c8J1FwUfqmV9b2stSIqlIxm8RNeZ9F-2BL1Y6z0mHGDZuw2PjgfRKB6= 1wsUs01uXB6FLokN7rkEDRYvHI8LLBVntSuzTvtwu81prgE5Hpjqci9jf-2BjbWkvOly9nrl3Dv= KWjZDmPbGhjC9rWcMZv40R783iBXUjTwK" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">Incapto</a></b> secured a =E2=82=AC10 million Series B led b= y <b>McWin 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>Apo= llo Global Management</b> is nearing a deal to acquire the auto interiors b= usiness of <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?up= n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4= ebNp3Us-2FBSCSrYTXRXMigTd0-2Fw-3D-3DAHmc_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx= BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwO= tW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4c= gKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNB= ZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhwmLXx6eGMPVF8z6E= CDglEKxEdytISNK7QSbI-2FYsBOKWX2T0eOpI3ldE0uCxzhTrahkLavu2iVRmwYLBsbGxSj-2FJ= oJ5ZOYwR-2FpCRIWb-2B2xO7shSbJDXr2znQwrE4Ml9OaHfncl-2B8NeMIfZMdoYSjJoXXO8YCV= oSvvjgQT9IHTAot51PYwUfNeExXev7GTFE2bfXunoI-2FziOdMoitaLrLWOTICKZw4xG9rRZo95= shMfLgLXMMCZmMqo9wJr2-2FKpo7g0D0HKRbDAEtWbgIjAgKU-2BN" style=3D"color: #1D5= 080;" test=3D"" universal=3D"true">Forvia</a></b>, a French automotive tech= nology supplier, Bloomberg reported.<br><br><b>EQT</b> is exploring a takeo= ver of <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3D= u001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNp= N7N5YERNoa9XUjWh0XQ6Pw-3D-3DH6Xh_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy= -2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3Q= Ed12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC= 1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2Fm= mgUZtpuFMCF844knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhzcDlYnrHO43Y2eapYtTjUpj1= iRLrZN5cJzivNtV5CoMbPEc601BcczbfgAQJL3it9DVB7fyfD7WLZj9nojVQTV-2BN8iaVVTrNS= Cg9pQffAQp7FsuKrCH3rLOFXRdBIY2Mckd-2FoviCNQ9WJIV1f4yjCHwGvvCYGGPWdb-2FDeF9C= noOlFU29KBhWYG-2Bry-2FZ3BjQfvGDeGJekuNhDy1UjsqFyuOuVwfNAMuQYzASEIB5F58pXJpX= NXQEIxRLtj-2BmTyFtjtX4HueeSF0j7AzdrzPO4E-2F" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Kakaku.com</a></b>, a Tokyo-based price comparison= website, Bloomberg reported.<br><br><b>Trive Capital</b> acquired <b><a hr= ef=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4C= uylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWsq9ApzdzoA-2Fi-2BKdI4ebNpNGlPSwtp-2FfjNd= P8wwen9NA-3D-3DruKT_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B= 0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8= oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF84= 4knaa321TMcdeR-2BDNlxiYnyVG59DwM8xIuUhzZ1MEJQUgC473NfTrqAUBDVsCFHyh3Iz8hnzN= 40pL2dhIiVp8jKfJP0HGGozlOA8YIa4Mz6fieD9jyJQMIdMw9T0nV8fJHYjDfbiCKWhAdtYIsT8= A7-2FaAm8YY-2B7zTKtHw-2BhSd4XqNHax0F9lKNouvGeYcq7ZgMhUBbU0VbDHDMpuptBzQw4ne= mf6-2FdUC-2BKoH1Pc-2BF48OLNd6LOUBJIVk161zfN8IlOcsxYpytcg2AUaToin5xHz29jX-2F= P0ebW53UWnnotM6vSBhvWZof1KsExw" style=3D"color: #1D5080;" test=3D"" univers= al=3D"true">Polar Technology</a></b>, a British carbon-fiber and metals mak= er, from <b>BGF</b>.<br><br> Wealth manager <b><a href=3D"https://url6380= .news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Baq= M7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7f6Sg5bykvVv8nkVtBfs6JQ-3D-3DAwim_I3w5d9c= 01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEv= pspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNB= ghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2= -2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BGyiTYp6WUf= uvg3S-2BPgmdq22r-2B9ZPh2FQqa0WTSfXyOa33gBkG5fuuIqsqiFVHwP7H627Hl8DO9kHm9ub6= k-2BGimgJZ3N9l-2BzI-2BwFDybvyBBznCYAAmNFoXzzYaJAr90UWVF-2FUlJLvXXnF6MjVhFW7= Kk6D-2BRsF14VbBMcS9a4V1jvbz-2FvroBNXGHT7kByHSkvAjMMYSqampx32YHFwpxOwgm3DFRA= -2FJoepI9xtiH-2F-2FRaZq0weuOM1YUFP02dxvqvc-2F1gVpct3L8qmh8Ddg5vxFA8kSpmOtpX= JwEXddcZnP3Vc" style=3D"color: #1D5080;" test=3D"" universal=3D"true">The B= ahnsen Group</a></b> has agreed to be acquired by Chicago-based <b>Hightowe= r</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click= ?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zj= cm7oCiXeQXqK3dfxwiAYP1KaQ-3D-3DKrOR_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf= mzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SH= h3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia= 7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-= 2FmmgUZtpuFMCF844knaa321TMcdeR-2BGyiTYp6WUfuvg3S-2BPgmdq3LRx-2B8DGKvKBg7AQc= FnpStYnGm3iuwkYhZx2Njkqt3fPeVdEcKg59EXSAhWXfIPerlGUfvIzdDHBfhD6Xa5Y3WJJg-2B= 2M14cK7Izlu9DqTc-2FP-2F1vJVfcrHrL-2Fv0fu1nASDT21mzTy9TWpyK8UhTqBsuQYeMKXeUP= HXb6-2FBtg5IdBHc0fTBR9VnTWQcOWxSM0oaFzjcoqRowdUVuAwL6Xsul-2BersAnuP38KUJ8w6= ahGi9giTbD17I85k7hoSb5mhHTrmfk7uFlwtWHAJQfurHO3G" style=3D"color: #1D5080;"= test=3D"" universal=3D"true">AireSpring</a></b> will merge with <b><a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7gxFfVASXCBpYJUBQwNgiP= w-3D-3DC0Ku_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m= 8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEu= kys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6U= e-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321= TMcdeR-2BGyiTYp6WUfuvg3S-2BPgmdq00ItPKI99VbSO7qF9YpwzMDJ5hsS4DYa-2BI0dGoeHr= 5TXfwT4pMaq-2FPScmmbPOHazdRJKi7ts2R-2BwQlHw13T-2F-2BGxsh03QIj2-2Fq7KVoDpv3d= GQb6xyApHEog-2BMVW7vdHZz-2BYwH7ttzzXX8ZX-2BZzRX3dqejy348zQ0K1bqPDblY0l1YKTu= Sxn2pLJQOU2IkZqhFbXS6DjSfBnk2TmsCqDHArpvzgxp5xCty0fU63HqGK74y-2F-2Bp2WMpxf7= yn45HpC9KLszS-2F4XW6ZS1flbKpXN0dtF" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true">Spectrotel</a></b> as <b>Charlesbank Capital Partners</b> l= eads a new investment and <b>Grain Management</b> reinvests.<br><br><b><a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7jNQbx8QOoANhRnMxZW= dZKA-3D-3DU4La_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFV= a0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0W= aEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3t= S6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa= 321TMcdeR-2BGyiTYp6WUfuvg3S-2BPgmdq0-2B5KZFq0M0hE8ra4trIp4lUMLbqFJ3usJFmytJ= j5r8fo5QM-2FOn5v6Klshw9Hq4nIx67uHl-2FXCGaUQl-2FgKfq3wWGD3JctfEWmXkFOwoBTThz= ZkdiAcNy3cWUcfd6NpJNmioJYZQb0RcW2LBmnu0HK4gdJ-2FqmIKoKMxV55Q9mR4-2B7n1sN0KK= mi0JzGODM9QMAGXL9-2F55GLdLwXWBN0NOayzHCwhduZjiQ6ZD9KwSGintzYWiX8i7fkti4pOfF= Z4qvkLQj-2F0JJn7E-2BsQ-2BTTnEVHRT" style=3D"color: #1D5080;" test=3D"" univ= ersal=3D"true">American Industrial Partners</a></b> has agreed to acquire <= b>Honeywell</b>'s Warehouse and Workflow Solutions business that focuses on= warehouse material handling systems, software and robotics.<br><br><b>L2 A= viation</b>, backed by <b>Argentum</b>, has agreed to acquire <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7pbFooNd6OUOXauG-2BlBCasQ= -3D-3DZFY0_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8= PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEuk= ys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue= -2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321T= McdeR-2BGyiTYp6WUfuvg3S-2BPgmdq0HHRmqU3fdDKEO3GOv37m4JAHyEpwVLOnX1QKDY9qG0-= 2B0bfjSiqlnD-2B6M5khVvhpoPHSSKZeC-2F9y8E0v-2BCK2GU2NlF8jO23u3yNLZjW2SQF5Ghu= 7CPNMcHVZWPkv2TheYQ9dWrdxwjgDWl4YwcUQSIACjv1EwfBYKa5NgQkRU9WTTsVIXXXDC-2F9T= 3O4LuYiZKGoTV5eSCISbBjpPFOAlhc1yFfZhMmlZ0RvZPyYu-2FDQ7P1RwwoCjHvAXzZR-2F32l= XGWGfoGXPzh-2FXJjbiBm3JmZ" style=3D"color: #1D5080;" test=3D"" universal=3D= "true">Advance Aero</a></b>, an Indiana-based precision machining and sheet= metal fabrication company.<br><br><b><a href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzUINuZgr5vxtF6bx74Zjcm7MeBdCEqqm0c4Iey2cK0CgA-3D-3DtuGS_I3w5d9c01gkD8gLzFE= ofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mP= dADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujh= C7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR= -2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BGyiTYp6WUfuvg3S-2BPgm= dq3BDdAofFxRTgtj6zb6I8q24gMkgLch03cvwjFykvgoUURDP-2FivKncTXyUiyue-2BzKLgv2o= Tee-2F9jOmw8dV7xDI1I6l1nwREnG3ag1Kp3-2F36w-2FBS1TmRhtxYOU9Hu5V2Wvlzz60Bzv7O= ABD55TBvSxUDZY6mbbrPv3Q4ZsW2xqlxv4rMEqg1EcjOFNUKfNU0WCHrrE5OISIjgRLB3iHnE7G= 52lAJXwsveSGgPhhH6wrs-2Fk-2FQ7pm8zmqI3C6jkhR-2FLhLoBngoBm7oM39i1cBdE6bD" st= yle=3D"color: #1D5080;" test=3D"" universal=3D"true">Conservation Equity Ma= nagement</a></b> acquired a portfolio of nine mitigation banks.<br><br><b>T= riton</b>-backed <b>Flokk</b> bought <b><a href=3D"https://url6380.news.pit= chbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsns= wouzUINuZgr5vxtF6bx74Zjcm7tnBFgx2q-2FeSNW1JUhfLIvA-3D-3DE9iE_I3w5d9c01gkD8g= LzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJC= H7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwf= DujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9n= JFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BGyiTYp6WUfuvg3S-2= BPgmdq3zBLDEx-2BV1hUf6ak9q-2F77NYWukhVrO4adWC0qG6Pi5uz5lwHsD1NiptNPneNhC4pH= 7KNxlKXOigHjE31nD-2FOIQ3PqvJ4tGfsIqCRU6jwklfj0UFKYrQmujzoO0Yo9TYZHGO4DPPrpi= XEAzwTu85L4uD0MGYYZQ55-2BhpAgLAzw40O9WaeB-2F4WW6c0uy6NNb5WvtQPLmLvx8MQePjCS= oRQHfaBlpMhTXoGa69U2X8wE8YuhwE3gzosICM-2FyJM7IBydG9OmZxM3lud-2FlUynDAlipD" = style=3D"color: #1D5080;" test=3D"" universal=3D"true">Spec Furniture</a></= b>, a Toronto-based furniture maker for the healthcare, education, corporat= e and behavioral health industries.<br><br><b><a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzUINuZgr5vxtF6bx74Zjcm7yXvcWhnfIAQeWCFpgu452A-3D-3Dyhfb_I3w5d9c01g= kD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpsp= EYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghq= XLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2B= nD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BGyiTYp6WUfuvg= 3S-2BPgmdq1G31TCXBjq0RzpKgPPEcL061R9H7odXrBT6q4b7wwJUvNraSWXYWGl3kRfOG132LW= pZWY0-2BlSceJdi1AFUEuhKHAgDZi7k2Mw0RZ5E6GPRR-2BhFa4t4O0vGzIjRroWhT9rbSkEiHi= Fl376E7xJHupbUfBkSfLCbA4LhSa7dKr0A7x4YFYQF3PBnDUiPWnpbO-2B3iFHZmSZ9JQa1W4ZS= UdASg282Nw10OUHgZf6pwfmYWJNyb73ctFV3SA9aVjP3H6RT8-2BxjIAtnpK-2FSpZwHB6gAs" = style=3D"color: #1D5080;" test=3D"" universal=3D"true">Valitana</a></b>, a = Stamford, CT-based provider of analytics, workflow and portfolio management= software for structured credit investors, received a growth investment fro= m <b>FTV Capital</b>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>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><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7469kg3ABzeHejDHDF= Sz0qA-3D-3Duftg_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0= WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3= tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844kna= a321TMcdeR-2BGyiTYp6WUfuvg3S-2BPgmdq0FB99RJUEBDG5j9cjiSEAARSxDQV00113Q-2BUk= 37RRW0-2FmXu8Hvunn4P6Iau3k5u2ZyFVD83yjMQLy-2FtSC1VnpNBM6pdvgbPTLaMiEFupGvkH= zxIWDhD1GIKMO7omZ1Qw9Xb5KalIxp8uQk1LcItyndNMvSUdz5GC0b8gxGpsQxfMwtRKfptUT8u= UXy-2FbRu12GOP3CSFDqvXP5aZbFUqIKIbHxxalbdSXIXANRr0TakIzpXgLKcIWhBq8-2BK8eVg= 5LUnfb5txxQNh20UQmbUm6pd" style=3D"color: #1D5080;" test=3D"" universal=3D"= true">Ryft</a></b>, an enterprise data infrastructure startup, has been acq= uired by AI cybersecurity specialist <b>Cyera</b>.<br><br><b><a href=3D"htt= ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW= Irf6GFa-2BaqM7ONnvsnswouzUINuZgr5vxtF6bx74Zjcm7dSJK0dP1-2FAPDrsbAws0iIg-3D-= 3DHdvH_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF= iB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2w= pQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BL= FVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcde= R-2BGyiTYp6WUfuvg3S-2BPgmdq0oZk9k-2BEYE9BOwW5YLo4tGqMBSV-2Byhk9iEScBVwRDqqE= 8iQa-2BnZjjISf-2FvmHJeo-2FmmTW6CBAY00aeVIjHe6F0jJEJ1uixXuCYadSfzFgqwiFZciS2= 4oIhwLGdRvdB6LSKVAfnn17FOuINfGaLVP67-2B-2FyIfPg14s3WrL5c6Z2Cyq2-2BFXcm5Awu7= DeD9BqHmaqXFS6bwpqF07GbV32t9-2BKHqWR4aLxpaoVGWMvZbXxqYEeuktsPcytY9SNWrTwUuB= BgMBQhO7PsZr43wSEKbqv0O" style=3D"color: #1D5080;" test=3D"" universal=3D"t= rue">Onyx-Fire Protection Services</a></b>, backed by <b>Blackstone</b>'s T= actical Opportunities arm, has agreed to be acquired by NYSE-listed <b>APi = Group</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/c= lick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FY= h-2FiJ-2BQikGn8qi87b8hS5LMzuSEGPXjA-3D-3Da-J-_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw= arHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5S= oTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBRe= Tdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe= 5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BJBhcI-2BHgTIWhV0PmyIGhyi2knYOCe6= ATTIcdKXTMAOBuxltHGMZIATy0GxsTbVAaQKcTj9-2BYGfdqPpEc0nSeZo0EUZuQxy44wxNB4OW= plz-2BEa5Hi-2FuCP-2FiXRrRcmuCPg9K5iBXHz5goeQcY0FboTRPAhmpUL5KBvV6uFwb-2Bfvy= S8HUsUHvEAR-2BpBVHkFVLJxagvsIaDf5ZT4Qm9j3zIMaoiEKrNspmrHTjRprTmtH6AlwrJTKou= DjUG6bNjLr7tQPjqIHQTyiroT964bOf2a8RhWLyjkUMHa3AUahs5kwWp" style=3D"color: #= 1D5080;" test=3D"" universal=3D"true">The Elmet Group</a></b>, an industria= l manufacturing company, priced its IPO at $14 per share to raise $120 mill= ion.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGoTkGVTXPRVB= 6f0f4CCPpOw-3D-3DT_Jd_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb= dWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-= 2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2B= S8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF= 844knaa321TMcdeR-2BJBhcI-2BHgTIWhV0PmyIGhyiUzQ5wYtgfYtLWpM2EwB-2B0NTe0UDgoW= ezJu2hjB3m63Fx-2FvB-2BtfZlfRlcqmhT36H50bQaGnq1WEjeWdE6Gs9z4sQwjZRn-2FMPDdL4= 5w7fZGj3MxAQYY1eZZpAkYsFB24kI6hnS5z-2FhW2VPB8YYvwldJXzIc6RWfu16Hk4ad7ELEQGj= CAftEbZC9SXbgkMuzC02yr5vyTSfdGg1VmKWslKqVaIyg6Jx2PnzpQVQOyUlA9bnUhFd-2BtR6i= tex96f6tGqC57tJ6A9c4meZ-2FecoCGr78" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true">Blackstone</a></b>'s flagship Strategic Partners fund raise= d an additional $6 billion, bringing its total to $11 billion. The firm als= o said its secondaries business reached $100 billion in AUM in Q1.<br><br><= b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n= 73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikG9WIPvd= BMhRvJ-2FWVtJ59ZSQ-3D-3DpE5v_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3= t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12= rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAo= ftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZ= tpuFMCF844knaa321TMcdeR-2BJBhcI-2BHgTIWhV0PmyIGhyi-2BHYBmKf3yYR-2BFK-2BBxkO= UUzrVCn6pY2Nst-2F0r0ZSF1zI5vxe-2Bop8oNUKeshBENi0x3IXW91JrYTRFHP-2F0uF-2BYBF= m1jXToCSqfeh-2BcZugkefopETyd5cchtay9nqzL1H7DAp0e-2Bq-2BkhdqqUGw7I-2FQjBPMyp= rAvFK2qNkuXqni4U52khfU09MR-2FimkX3-2FIgehYVwQibOdHAgiMX1RcgBIKkEQVwMUH4Iqgf= GmmEWYOqWpLUipPVl3tSAEH8I64XaFXGHctjCAU-2B8OqkbRK0Wd0PS" style=3D"color: #1= D5080;" test=3D"" universal=3D"true">StepStone Group</a></b> raised more th= an $1.58 billion for its second credit opportunities fund.<br><br><b><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGPnHxbqy5NVNip2= u59KY9aw-3D-3Ds30X_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWe= UgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0= wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8o= Rw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844= knaa321TMcdeR-2BJBhcI-2BHgTIWhV0PmyIGhyin-2BitHRK5yBxhjaxmJCMx75HoEieys1Af5= HMjINpCerfGSNp4ioWm2dTQX1qPCPrW7sQ9q8rvGARReTNj1aNmk18UTaGskHFgMFMs4ZIGqYti= RDmYsb8QbRO47lzjrLFpz7Ea21NIhISO18x1nIZxgK-2BRhot7qZQCQg-2B7ciTaubeuDB4X-2B= -2FF6qAMTFVIWR6DQ44bFJTf5UNmZg4ku-2F47r2bAQppo1pYHL-2Bt8cXWDWz17Ml3tqi6iUB8= 1WV2arSCXj1SX9Hyu8VZfFgfy4flwIP" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true">CVC Capital Partners</a></b>' credit arm held a $1 billion fin= al close for its fourth dedicated CLO equity vehicle.<br><br><b><a href=3D"= https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7S= pSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGqsHME0LtaG-2Boxx17H= ZesqQ-3D-3DHlm__I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgF= Va0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0= WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3= tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844kna= a321TMcdeR-2BJBhcI-2BHgTIWhV0PmyIGhygT8gZa2KCQwz7-2F1W40EW2TXppvKm2FNLlzJyz= nkBPhTRFMz-2FJSKMsWnI6Y-2BnD6Fsnfblnv-2BO6KZzWpYWp9WaVESrcsteSkC-2FMwVY-2F-= 2Fy2PZOBwV-2B9GoadlPAvV5jeQagi-2Bv6VGy24-2BSBQZJ8ttGm0lgm6umhb7DsNj-2BeMA7B= Jbf9-2FczHs5AgXvEMdMzD4wY6aXNyonLxRYbgg2Qy6z-2F-2FpSZVH49ln6yox-2BdfuC-2BIA= tuSWA1f6DgWIuml1-2FX6aZj-2BaAwjOnAx2tP-2B-2FHAnG0MsIMh" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">Lime Rock New Energy</a></b> closed its= second fund on $640 million to invest in energy transition businesses.<br>= <br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du00= 1.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGf= 1czId-2FSPuJc6AMdP5XDcg-3D-3Dzsgr_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmz= y-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3= QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7E= C1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2F= mmgUZtpuFMCF844knaa321TMcdeR-2BJBhcI-2BHgTIWhV0PmyIGhyi894Ld5nv9Z2RJNLOBMW-= 2BQMS2h9OdfhyfWf0GiBkqJoQ2K3hinuqelQv-2BR1uzX5nPLHRThRDUZyQcH6pcrNUoJOMk8pD= -2FlOFleNaLLg1yOWRqkR8hHmqpAWeJo5Is27BzXcWmnZPMmz69Dv6O9OLGJumGvz51rSuHJs8m= UeIvjNJ3WEbb25Mtt-2B7onl6R2-2BAy3ZiVck83ZGmg-2B4YtjxWHf9H5wtLUkWWghVJ4OpD-2= BiCfvHR0yxieX7F-2FXHY91n6r2xN46UuLl61IfWCs4PBXe7" style=3D"color: #1D5080;"= test=3D"" universal=3D"true">L Catterton</a></b> launched <b>Champ</b>, a = $500 million consumer-focused fund with investor Mark Patricof and celebrit= y athletes including Kevin Durant.<br><br><b><a href=3D"https://url6380.new= s.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ON= nvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGI00payYArhwmVo62EXHpZQ-3D-3Dm1r__I3w5d= 9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnl= EvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2F= NBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0E= e2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BJBhcI-2B= HgTIWhV0PmyIGhyg65vC3c-2FGYjq62-2BhBiwuOJB7bVc8yw-2BZw5GZFpcG2T-2FyNJ3NKRvS= A4qQrRZFvqDbB8WtE-2BNkt9p246YXEy6sXpXFhiNSvC9wZIgwERAq-2BJeX6QIvmbQiKiOlYZO= 2UwkAOnzrJTt9ksEhTmP3rhCf7ZhchGwNZsH0H-2Fol8kG5SDscC2ngVfQuzyMhRZ1lYyzKmDQY= RTg2x6fafdQm9lh1Zub7To1fa9alrsDyx6QbZThShti7NcH05ac1q4kLtk3PnuGvfJTJxIgZjWA= D7Y-2BBbm" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Achieve P= artners</a></b> raised $450 million to invest in opportunities tied to AI-d= riven labor displacement in technology and healthcare.<br><br> London-based <b><a href=3D"https://url6380.n= ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7= ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGFHn0cGf9gvOtHkby-2BPbEww-3D-3DgvBk_I= 3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsM= jQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7= z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oi= BJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BJBhc= I-2BHgTIWhV0PmyIGhyjdMcx5lUsWurfbmceLWmQ5GUkQKy3ZCeZQVnCktq5Gg5xbWza1n2Ms7b= JCOG-2Fz8oItdwBnWrogV-2FUyVZLK1pXWzMOYzet2BYlgZVJ3tWUhRVXJJjWljuwp93gdOcw8M= A0MT-2FLYcN5Js5UDTXz3RTei9LVt5hgM2isQy2hMLcN012ymiTlv8m9DyM4c56FigDaWcE0SCV= cygew1IhCMkDRw9-2BVlyaiwqYSYJ5Vlu81XfwyXIoOkQ4ncL7WqBzQGoRJH5fRz0GjpRylOOKg= -2BLpYS" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Pantheon</a= ></b> launched a global infrastructure secondaries evergreen fund.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>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-2BaqM7ONnvsnswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGYO8= eIyE0fodwGzJrQFt9HA-3D-3DopFI_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F= 3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvpspEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd1= 2rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBghqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OA= oftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgU= ZtpuFMCF844knaa321TMcdeR-2BJBhcI-2BHgTIWhV0PmyIGhyiMeXkH1-2BT8l4xKA5ZDw4zdQ= V2NII7FyP4aG-2Bgb5G-2Fw1nT2MukyI4ihaej8hd6qR-2BDsBtCHSmZ9Irr-2FmyiAfX7GdD1p= dfdjYSpAMVn-2Bvb8-2Fza0Z2fmypcCD-2Bx-2FbwJthl1kH3jpnFTeHcNxu6Fa-2BwkEW2R-2F= E3gcuACe57iJg5PiN-2BwESgbZoBdYxeQODNI1WfggDM8M-2FCgC8rjFvuzThFCTU-2B6-2BTW5= qdrQNd7lllMAbJL9VbYr7dWgkB4fMmMzquSI6tv3MzakD1Comy-2FAIfXhtr" universal=3D"= true"> <img align=3D"center" alt=3D"" src=3D"https://img.pitchbook.com/news= /73937.png" style=3D"border: none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">PE exi= t value for B2B companies in Europe doubled in Q1, defying the broader tren= d of sluggish PE exits.<br><br> Source: <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzV1zCgASuwmK-2FYh-2FiJ-2BQikGYO8eIyE0fodwGzJrQFt9HA-3D-3DCYCi_I3w5d9c0= 1gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFiB2QRVsMjQnlEvp= spEYJCH7mPdADhrFwOP5SoTnwOtW7SHh3QEd12rbzhYz-2B0wN0WaEukys2wpQNd1CZ7z-2FNBg= hqXLwfDujhC7ioVSasBReTdr4cgKNia7EC1OAoftvD-2BS8oRw3tS6Ue-2BLFVFXx5oiBJ0Ee2-= 2BnD9nJFWR-2FGDOCRkbe5jNNBZCXC-2FmmgUZtpuFMCF844knaa321TMcdeR-2BJBhcI-2BHgT= IWhV0PmyIGhyjdlpBhTFVW63WQIUvxKBjCfh6l-2FpiKP6v-2Bb4PnWZVuMsM1F8QXS3tUEQTP3= m1EN1g-2Bl7wD9-2B0MeNj5j8cuZ0HLEUroQwA5DxG0NqXJyHWenpQm2hWNvzH-2F-2FjQdHTh7= uWin2I-2BxDtDNQR9Ybgu7rDyV-2B5xg8aUSgbAnSywLtYGCO56plcfSf74RZAH5JY9U9gSYMpA= g32evaZA5Hfd2aG-2B28fHC0aSswgc8iUX30iZt8rSIr0LvCbsoppQFpL78eLT2atQDqclFNZ6D= XkbYi-2BBY" style=3D"color: #1D5080;" test=3D"" universal=3D"true">PE exit = value in European B2B doubles, but exit count hits five-year low</a></b></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; 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