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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 Microsoft sets OpenAI free; fintech is getting expensive; how costly oil impacts private markets April 28, 2026 | Read online | Manage your subscription The Daily Pitch PE, VC and M&A Your edge on gl [...] Content analysis details: (-2.0 points, 5.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- 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; 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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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margin: 0px; borde= r: 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" 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">=F0=9F= =8D=81 <b>Prime Minister Mark Carney creates Canada's first sovereign wealt= h fund.</b> Oil-weighted LPs are benefiting from rising energy prices in a = clear denominator effect. Read more in <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzWjRUqFTxty2RoDTd0UnfT5rbbdu-2FaA5dwbW6mi222K5g-3D-3DvLJS_I3w5d9c01gkD= 8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fp= p160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU= 8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR7= 0-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy= 4nsKmUth2-2FOlTxx-2BrcPx5IvRTvytjLq40WyyaoWO-2FU0Wzx0se2fvXlxTbqZPf7rsMmeVp= o2WUcICGIibk-2Fz9vkYLHYArXQzgGk0UK-2FHKM3c8Ou6D0dcZej0BevxReCaxMWdHUNgIfpxZ= 2KVvRhZ4DdYrhCl3IzMDZ-2BDsXgbzoa7bqEAPZq9KLKqea243FlExRaWfBspJ681aQtbQWAeK7= Z-2BAYTsnmq-2F3Ea7aMnw04jSyOtRwnF85ReL0MQ-2FXI90UoSfOY549T4RdDk4G2GToi9rAXr= " style=3D"color: #1D5080;" test=3D"" universal=3D"true">our Crude Awakenin= g analyst note</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_580269" id=3D"n_580269" style=3D"font-size: 0; text-decoration: non= e;"></a>=20 <table lang=3D"x-news-group-title" cellpadding=3D= "0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;= "> <tbody> <tr> <td><span class=3D"outlook-caption-override" s= tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s= erif; font-weight= : 500; font-size: 20px; line-height: 26px;"> IPO-bound Lincoln Internationa= l banks on PE deal surge </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> Lincoln International, which filed for an IP= O on Friday, could become the first boutique investment bank to go public i= n the US since Perella Weinberg listed through a SPAC deal in mid-2021.<br>= <br><b>Lincoln's move to list suggests the IPO window may be open again for= boutique investment banks with solid financials.</b> The Chicago-based com= pany generated <b>$214.1 million</b> in net income in 2025, a 31% increase = from $163.3 million in 2024, driven by a revival in the bank's sell-side M&= amp;A advisory business.<br><br><b>2025 was a record-setting year for globa= l M&A activity,</b> with both deal value and volume shattering the prev= ious highs set in 2021. PitchBook data tracked 50,810 transactions last yea= r=E2=80=94the first time deal count has ever surpassed 50,000; and combined= deal value hit nearly $5 trillion, up 37% from the prior year.</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-2BaqM7ONnvsnswouzWjRUqFTxty2RoDTd0UnfT58vvV-2BYk= Nco8gxWM8jJuTDw-3D-3DSovR_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= ZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3K= qva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6I= JSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvU= efE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKnxq7YwayS9Oi5oEeBXD4GWfD4TBqRgeZn= oRoiEVB6UwYriSaIdgaEp5LM6pAWfzGMNfiabNKr-2BLltqcnzELRp8Fy1QiTb64hf9-2BwX9lz= j812HrMl5cSA6O8gY2-2BqHR5Ws-2Bw4J4lhrwjeMDtQ7t7hPH7W-2FX89bIQVYuJJumvx2lfC-= 2BJwY57frF9o6r10DS79Rfj-2Fv15YFHB36bYLI-2B4PaYQLEAvaKxi9RjNba4nmCw4S42Gr5Oi= mwSFmYOKobyZa13fqLJ1eO-2B3VKsPV1gkcbv4" universal=3D"true"> <img align=3D"c= enter" alt=3D"" src=3D"https://img.pitchbook.com/news/74004.png" style=3D"b= order: 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">In its= filing, Lincoln contends that the growth of private capital will create a = "larger and more durable M&A fee pool," particularly for sponsor-led de= als. Global M&A advisory fees have more than doubled since 2000, reachi= ng <b>$27.6 billion</b> in 2025, while independent advisers nearly tripled = their market share to about 37% over the same period, the firm said in the = filing.<br><br><b>Looking ahead, M&A will be further fueled</b> by moun= ting unrealized PE assets, abundant dry powder and growing pressure on spon= sors to generate liquidity. The bank says it is well-positioned to capitali= ze on rising demand for related advisory work.<br><br> Lincoln's M&A division primarily represe= nts PE firms seeking realizations from their portfolio companies, with a fo= cus on transactions valued at between $250 million and $2 billion.<br><br> Goldman Sachs and Morgan Stanley are acting = as joint lead book-running managers for the proposed offering, and Lincoln = will trade under the ticker "LCLN."</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-2BaqM7ONnvsnswouzWjRUqFTxty2RoDTd0UnfT58vvV-2BYkNco8gxWM8jJuTDw-3D-3= DHW9c_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFW= R91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8Z= fuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0Z= jqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c= 1y5Ic-2F5UaNYmgtTy4nsKn8y-2BoRrfORr15f3DQPTNXqhLc-2FPMOmnLHFsbauhIgVGQKQd6b= xm3UNwHERwFqSicVGKy4uc3CEzwrz-2FiRsIurh9G3fysws9E8UJhmaKLJZF4wAFiaAHk6sFBIE= ww-2FQnP0ED-2F-2F3TIeTGDRkLePNwwLm9Y4EOB2vBw9Qt9hGSCU11qhQ6tVMgv1I5RASjc8L1= JXxN7VG8PzA0xocI-2FTpvc0sjANzjNdl91VcIsfEM-2FyDKkd4xBxSQK9zKXwXunAkXdR-2BP8= hByxy2ugfU15ApGD4j" 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">Read more<img height=3D"24" src=3D"https://f= onts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: mid= dle; margin-left: 8px;" width=3D"24"> </a></td> </tr> <tr> <td style=3D"height: 25px; line-height: 25px;= "> </td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> <tr> <td colspan=3D"2" style=3D"padding: 0 20px;"> <table class=3D" " lang=3D"x-news-= group-border" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"wid= th: 100%; min-width: 100%; =20 "> <tbody> <tr> <td style=3D"padding-bottom: 25px;"> <table class=3D"" cellpadding=3D"0" cellspaci= ng=3D"0" style=3D"width: 100%; min-width: 100%; = border-bottom: 1px= solid #C3C3C3; = "> <tbody> <tr> <td style=3D"padding: 1px 0 0 0; line-height:= 0;"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWjRUqFTxty2RoD= Td0UnfT5REyXQKVhFQUC5kdGiDrSyA-3D-3DJTeq_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx= BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2= Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq= 3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnec= GtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKka2leDSI4H3vHa3LrC= obTpioA-2BqTbPgEybjq-2Bb7Zq3t7ReZbetPf-2BwfjWSOFqDdh7Q9RhueqNyXRD1HJ47v2-2F= hJ1qhhpWAt9g4Nx0GOloF1p1Tg8w-2FxGiQg2YrGp4SLw-2FXRR6gGUtGt55G8UdFb5bAqq8fZ9= YAf4hrVjJhJpGocob2-2B4GoTjwqMHkfB2XxONxInZAvhxwO73FY9QYwjGE2SaZIGnjj0ukwGUI= kIfLBXPqB9z93P9O22GH716ABfr5TICucD9WzKfhgkyexGiqH" style=3D"color: #1D5080;= " test=3D"" universal=3D"true">2025 Annual Global M&A Report</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; 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 Macabacus</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_580040" id=3D"n_580040" 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;"> 22M+ logos, accessible directl= y in PowerPoint </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" lang=3D"x-image"> <tbody> <tr> <td align=3D"right"> <table align=3D"right" border=3D"0" cellpaddi= ng=3D"0" cellspacing=3D"0" style=3D"float: none; padding-left: 15px; "> <tbody> <tr> <td align=3D"right" style=3D"text-align: righ= t"><a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73B= rX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWjRUqFTxty2RoDTd0UnfT5l0Wh7SfhemUFRKu= ByTA71g-3D-3DYICp_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU= gFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BER= psMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOX= xTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09szn= JiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKlPKLuyXc19cBgcFhw1LZWFOa-2FThmd-2BY2sRgAc= h-2FaKhsBKVYUzHQSTK12YiclaWne5pJoIlkw6ugFHQYiab6gu0EKohgtyuqIW9kP6-2FIn0aTF= 2Y-2FWfhUSn72rwrGf0kBwX4X8EmJPL5aZLktgOopnlqda-2Fvkx20-2FOJhtT4fH2tR3hWAnZW= bCH22q-2Ft2uGxDMxVr3lRJbJaZkYPAQfPnzOHlMKh0-2FTHCbMKL7Oi4TuUDeyqwzDGsnO8tGf= AUS3RkMplqlg6N5Lyu1ID24Ctgr4YL"> <img align=3D"center" alt=3D"" src=3D"http= s://img.pitchbook.com/news/73882.png" style=3D"border: none; width: 100%; h= eight: auto;"> </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table>Logo-sourcing tools have been around = for years. But most were built as standalone products, with separate contra= cts, separate logins, and separate tools to manage.<br><br> Macabacus=E2=80=99 Logo Library lives where = your team already works, giving you access to 22M+ updated brand logos dire= ctly inside PowerPoint. No need for another login or another vendor to mana= ge.<br><br> Whether it's company profiles, credentials, = tombstones, or market landscape slides, you can insert and arrange logos in= two clicks, without leaving your deck to find them.<br><br><a href=3D"http= s://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzWjRUqFTxty2RoDTd0UnfT5l0Wh7SfhemUFRKuByTA71g-3D-3D6jdj_= I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVp= WlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG= 1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYK= vxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-= 2F5UaNYmgtTy4nsKksEHT443YtajkLic2Co4AEFOBXJT3SC4-2FGtfEPLGCarZ46qmIc3JD95uJ= kRjKv6-2BRuIJkxmn5wp-2FkMdRtu6-2BnaUbcvgQw0lB6uOfEvr3NDCHD5Vg5-2FrruzvU3ZtX= noIBgo8zqj6dCWHZjPS7fMX7tAGLX4jUTTDvNMhceJ9u1Jshcy0UATIceY-2Fb3SnIS-2FsZL9S= v9oMzguWKrrBZNHiS-2FkDj-2FZGvJryAIHcL65Qz6BxMDwhgvD2D0QFqtgv861l7OeFF9WaQZK= MoBhTPBuXEiK" style=3D"color: #1D5080;" test=3D"">See Logo Library in actio= n.</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>Fintech is getting expensive.</b> VC valuations in the sector are hi= tting record highs across the board, and earlier-stage deals are growing la= rger. <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001= .d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWjRUqFTxty2RoDTd0UnfT59fXpKL5V= pDRNr7jJd-2FjP2w-3D-3DOktm_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1= yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3= Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6= IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNv= UefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKmHp41gbO2iafbcACC5zRdHmNeZ9o91V-= 2BD0wAGF0w74MzA2FOviXS0KQ-2BeHOvAb8tZf0tEBCYFIblYttQkGhgrvwvo4fzinRKWS75mBt= FzVuWWH9WISFABwLjjRADXFIlUF4d6hJ5KGAvmEwA-2FwKh9-2FASumlThZUc7-2BoSXW7eoQjh= PrD53lnyVjdUhffngSvDs0Sl1I8RwVQWjC-2FRxupg8HzD-2BI3jsGwFxbsuXgCMGEIpMESDx1T= asfv100iIjoS9n46VlIZYWIwnEPLjUpYKpv" style=3D"color: #1D5080;" test=3D"" un= iversal=3D"true"><b>Download the report</b></a><br><br> =E2=80=A2 <b>Italy's pension funds face new = rules encouraging startup investment.</b> Now the country's VC deal count h= as hit its highest quarterly level this decade, up 80% year-over-year. <a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVLpgbxkhySRYetlLR8sScAdrYNtEjFnK84E-2BW= xtqO7w-3D-3DBsrN_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUg= FVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERp= sMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXx= TxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJ= iZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKniDyHmAkTTjonYevoulbp1KfwWMvnUeCWQnndInVnw= KNEZ94V-2Boe-2FCEi9TejvSZBTPs4xqFEZosNOz7vtChdHHKZJC80DYAB7qCzY1Ik-2BrbJLob= z72ZZdIC5VJLpf9auV0bUxg7CFrXEXJPSp-2FyRifRRh1YDO2uSaKJW7sf7N38iJuFzzbr9GuUd= bTb2vCuH9LetaHHB9MwWgviScIKD0zj1W8MQC82OjXBYst0NNVOyGcpNcnblAiGymogr3HFIcdH= eIJdgbViAVBMnKXwrSX" style=3D"color: #1D5080;" test=3D"" universal=3D"true"= ><b>Find out more</b></a><br><br> =E2=80=A2 <b>Two loans in Blackstone's giant= private credit fund stopped making interest payments</b>=E2=80=94one to so= ftware company Medallia, one to dental chain Affordable Care=E2=80=94causin= g the fund's non-performing debt ratio to rise from 0.6% to 2.4%. <a href= =3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuy= lw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVLpgbxkhySRYetlLR8sScVf2of05ilcGDZa6hCMteN= Q-3D-3DJf7r_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m= 8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ7= 9QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKB= nzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZ= EhUU1c1y5Ic-2F5UaNYmgtTy4nsKm3Tg57tS1uesKb2PysKo98ATWQC-2BJe-2FX-2BZv0kOrdY= Ao4cAu8ZsKVIVJSMZU022BeSq75tK6A56aFDBPKM892OQjXDQ8G3VQBTKazBoZyarVVOiUwPzCb= I54Qkkdseu365Z5pQUVng9pjXR7H6FxM954MsFXPZHH63EtKmngvrR0VJqFlROceCo1DJb4En-2= FUQ6-2BXBPwY1rylRaIFEuVoHCnR9uKwpsrHpoU7l-2Fhlc7yku0FQ40bEO379OTXFeEhLz6oXV= N03pxCVfcl4lx-2FuzNK" style=3D"color: #1D5080;" test=3D"" universal=3D"true= "><b>Read more</b></a><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 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_580267" id=3D"n_580267" 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;"> OpenAI loosens Microsoft's gri= p ahead of IPO push </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-2BaqM7ONnvsnswouzWVLpgbxkhySRYetlLR8sScSuGJJO1Ey= HJp0XbtNaWInw-3D-3DIqrO_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZb= cbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqv= a-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJS= bKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUef= E09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKnqHM8wVuYTK-2BlFilG3bGkm3NGfIoiW0Uw= LhfFlmJWZQB41-2FhkrFz0m5X-2Fiin-2F0cC42hKQVzvxZubMnM7uR7nzmm72KJjHA7xHEwjTc= 9GC8dCseMfohcASWkIcTA0n4NjWEpJYaWVoykwWggrLQtlMoF0N5Pz1iqb4qrg3lWeVcEG4V5TV= G3pT5UctCpd-2FMhM5wZ7X-2BnNAiELaBS93D6h-2BNzNSuFUt0GUF3zYxBnrnEXtvpin7c8Z07= rpIxJTI743g3rAynTukH83yfkJBi7JHS" universal=3D"true"> <img align=3D"center"= alt=3D"" src=3D"https://img.pitchbook.com/news/74005.png" style=3D"border:= none; width: 100%; height: auto;"> </a></td> </tr> <tr> <td align=3D"right" style=3D"padding-bottom: = 8px; font-family: Roboto, Arial, sans-serif; font-size: 10px; line-height: = 27px; color: #78766F; text-align: right; font-weight: 300">NurPhoto/Getty I= mages</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 = Jacob Robbins, Technology Reporter</i><br><br> OpenAI and Microsoft have restructured their= partnership again, shedding the last exclusivity deal with Azure, Microsof= t's cloud computing unit.<br><br><b>The new agreement gives OpenAI flexibil= ity and leverage as it moves toward a potential IPO this year.</b><br><br> "The greater predictability in the amended a= greement strengthens our joint ability to build and operate AI platforms at= scale while providing both companies the flexibility to pursue new opportu= nities," the companies said in a joint statement.<br><br><b>Under the revis= ed partnership, OpenAI can now sell API access to its models through any cl= oud provider.</b> Until now, the company was limited to hosting its API pro= ducts developed with third parties on Azure. Now it can offer them across c= ompeting platforms like Amazon Web Services or Google Cloud.<br><br> The agreement still stipulates that OpenAI w= ill launch its products first on Azure, but also states that Microsoft can = opt to forgo that exclusivity if it so chooses or doesn't have the capacity= .<br><br><b>Microsoft's revenue share agreement with OpenAI is also ending.= </b> In the past, Microsoft paid OpenAI when users accessed models through = Azure. OpenAI will continue to share its revenue with Microsoft, but only t= hrough a set date in 2030 and subject to a "total cap." This aspect of the = agreement was originally supposed to be in place until OpenAI achieved true= "artificial general intelligence."<br><br> The agreement gives OpenAI more leverage to = compete with Anthropic, its chief competitor, which it has accused of infla= ting its revenue, according to Harrison Rolfes, PitchBook's senior research= analyst focusing on the big three large language model providers.<br><br><= b>"OpenAI removed all the overhangs Anthropic was built without,"</b> he sa= id. "OpenAI is definitely racing to look more like Anthropic. An IPO seems = more likely, but they still have to tighten loose ends."</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-2BaqM7ONnvsnswouzWVLpgbxkhySRYetlLR8sScSuGJJO1EyHJp0XbtNaWInw-3D-3DK= XyV_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR9= 1EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8Zfu= xPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0Zjq= hZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y= 5Ic-2F5UaNYmgtTy4nsKmVs2STNuVLl7YB28fvgzoNC4SHOGzudhqATUvGfEwcxkudXwMmvENJ2= YYEnzDcIFuy7Dhus8GoaL7uAguDdeS1bKsCnmf3PZDTkGgz0B9yZxl7hOg4cNODhHKDujKf6y3T= GVqcnfRq0lYv844YfvHFduL-2FaOlRYmPl61FBk-2BXRlVPe60HvNL4BHCBlwiF7tMZ8Lq3JmXp= zwZsHe1R-2BoCvoHs43h-2FHh8LjXhzmEdEv-2BgD2JyDsVWs59BKDd-2BgnCnDWbPLsgOfEQ2r= cbLNHN7-2B4n" style=3D"font-family: Roboto, Arial, sans-serif; font-size: 1= 8px; text-decoration: none; color: black; padding-left: 3px" target=3D"_bla= nk" universal=3D"true">Share this story<img height=3D"24" src=3D"https://fo= nts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-align: midd= le; 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 analyst note:</i> <a href=3D"https://url6380.news.pitchbook.com/uni/ls= /click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVLpgbxkhySRY= etlLR8sScDz20dI8llPvlX861O5pO-2BA-3D-3Dh5pA_I3w5d9c01gkD8gLzFEofZR-2Bh6Vwar= HkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIf= R-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T= 6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJl= necGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKnpLzyiZMWsoGVQG= WZtgy0ajGe8ypQElhjCPAXh0X8kn9XSzUZY2FdEQsUJwPPGZSwhgdJ9cHGH7aJ4PZt9dfuCsB-2= BbCfaFbut-2Bfh9u11BZHPp9EBHDwrYQ-2B9-2BV1yf7yzwUnTS9PDCPYHXbx33RTRYtXVvBxmV= Sec8Z76v84jCaO-2FUahUKMQEMT3qaxw4mPUKfkwo3atHFyJKh091mxXW2spVCNOCY4onYwpLoa= 6E22ZSuYnczjKNHe2fO7NGjrc7Vn8-2F4rmEa67j11rlFesIVQ" style=3D"color: #1D5080= ;" test=3D"" universal=3D"true"><b>Mapping the AI super-cycle</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-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>China is trying to unwind a Met= a acquisition that closed four months ago.</b> Employees of Manus, the AI s= tartup that Meta acquired for $2 billion, have already moved into their new= Singapore offices. [<a href=3D"https://url6380.news.pitchbook.com/ls/click= ?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVLpgbxkhySRYetlLR8= sScqAhdkoXIcS01zc1j4fijkw-3D-3D0wV7_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCf= mzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e= 5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOm= a6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchM= B47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKn7FO1vBFRNqfv4pAEXTRrHL= ir7KeXi-2B7YOpQB6vrzxErCS9Tm1V-2FR6cpRD07uVt9wobJdId1YCKVIHyaFryzQU-2FCjUvG= MntRI4FPU2NgObbXGe-2B62yNpzfiQMArq2ebD3ZtNqojm0CBzUK-2F5P7gczkBuX0KUD3k6kxy= cLEJT8Mvic5Ycs-2BAGYxfd3S6bIoI43jtGkDY2Grvjsq46Rp2sMSUR7k0M68GsQbFVqPzEPM9S= IolvGLy3Ii5cKYiOow2kV5E3nHDQUdlXQYCjVqn-2FXe" style=3D"color: #1D5080;" tes= t=3D"">Bloomberg</a>]<br><br> =E2=80=A2 <b>Life insurers are relying too m= uch on private credit,</b> making them vulnerable to withdrawals and ill-pr= epared to manage funds in an economic downturn, Apollo's former risk chief = says. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4= n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVLpgbxkhySRYetlLR8sScrzkwAgRDA49= SHjwvaalpqQ-3D-3DtTft_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcb= dWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-= 2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbK= ZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE0= 9sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKm-2BjVjLQTT2lM1oJg3xCHkWurHL5TwqLLhBv= GRQwg4zHxChCnxZKRvlJ-2BmJoXx5C-2BqNflP3JhaOvoDAhmHeFymJR7-2BCo6QmV-2FVcGgYd= i2jnwNTDy-2FEFrTkhC1wfBvtziC5-2FNtZIAPl1-2FNO50ObDiFuiL6cbZmN-2BM0FIc9EaxOs= 332b9Zyrr5tqjmIVx3nTcSTOqn4vvfB90bIsW7A9nbn9uQpvBgb-2B-2BpIOoxDRJcsxOQakgAk= QiipMJxRDMK7rEJ3-2FfhGhNX32z-2F2UPru9J9FvN" style=3D"color: #1D5080;" test= =3D"">Financial Times</a>]<br><br> =E2=80=A2 <b>The Cannes Film Festival may ha= ve banned AI from its Palme d'Or competition</b>, but a rival AI film festi= val drew studio investment and warnings of a mounting wave set to reshape c= inema. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d= 4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWVLpgbxkhySRYetlLR8sScuJZt5bPl7M= T-2BvENRgqpZ6A-3D-3DySDe_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZ= bcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kq= va-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJ= SbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUe= fE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKmVH8mXGgtpoYOELWAsYk8ftNpe3ssiFdp9= 49kYBDiA0sfBEP30lxJNf0HLCK19uBpMXGoFD0UadUc8WiXxZAFRmU6GYNkYec-2BimGGx3q9-2= FASijTe8Il0h9X-2BEqhXu6U5xKE3G5Cs6wHvGnboyFLHrCD9FU3L-2FlCCYTVEt3p7E4JjN5RF= dFuMJuEbGSE3A6haMPTTHXD7IAkDKAdOxTWEy2Wdfk7UXs6HNBz78cL-2FkhfPKXgpEMr9xJk-2= FKXADmXgOD-2Fhx6yz6Ra1imvJSw6J7cv" style=3D"color: #1D5080;" test=3D"">The = Guardian</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;"> 708 </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;"> 2293 </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;"> 1081 </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;"> 42 </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-2BaqM7ONnvsnswouzWVLpgbxkhySRYetlLR8sScjLHfv777-2Bjnnjkxhmi7xOg-3D-3D6= Jrk_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR9= 1EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8Zfu= xPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0Zjq= hZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y= 5Ic-2F5UaNYmgtTy4nsKnc2S3Fu1sqTidvwD-2FEHPa6VioMWaL4qMlPziMz-2FJr2W6s9EdJde= 10R24q5tlUEBZebaC9QM6OHGY4feb39rpgAutGIPP2YSS179Nlz8rOz4SGvkxB0Ii1INCEN-2Bj= jp7GvaApj4UtCoGBfDA-2BngDwNZjTvplqSAY3ogl6DzeS5J0kC-2BCiFWycFeyGH9X-2FLWFlA= XgU3WoygabIQzMP-2FDan2huLvmLGDtDCqGysr-2BJwg8D8UbhhLEvizuDv6HPHQexRWOrN5GWm= 44xYqGAxyszRew" 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_580253" id=3D"n_580253" style=3D"font-size: 0; text-decoration: non= e;"></a>=20 <table lang=3D"x-news-group-title" cellpadding=3D= "0" cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;= "> <tbody> <tr> <td><span class=3D"outlook-caption-override" s= tyle=3D"display: block; color: black; font-family: Roboto Serif, Georgia, s= erif; font-weight= : 500; font-size: 20px; line-height: 26px;"> The Daily Benchmark: 2021 Vint= age Global Funds-of-Funds </span></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table cellpadding=3D"0" cellspacing=3D"0" lang= =3D"x-benchmark" style=3D"font-size: 16px; color: #78766F; padding-bottom: = 10px; min-width: 100%;" width=3D"100%"> <tbody> <tr> <td style=3D"font-size: 16px; font-weight: 700= ; font-family: Roboto, Arial, sans-serif; color: #000000; padding-bottom: 1= 0px;">Median IRR</td> </tr> <tr> <td style=3D"padding: 0 0 20px 0;"> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-irr-chart-line" style=3D"width: 72.5925925925926%; min= -width: 72.5925925925926%; max-width: 72.5925925925926%; background-color: = #1D5080;"> <tbody> <tr> <td align=3D"right" style=3D"padding: 0 4px 0= 0; height: 20px; width: 100%; font-size: 12px; font-family: Roboto, Arial,= sans-serif; font-weight: bold; color: #fff;" valign=3D"middle">9.80%</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">13.50%</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;"> 0.04x </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= swouzWVLpgbxkhySRYetlLR8sSc66TMPdiVkW2LR8XuZdZVCg-3D-3D0TC5_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp16= 0W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kb= P1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2= BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4ns= Kmpk3Rncvsx-2F9BoTeJVhqG2Iq9bzD1Txc8kUW1ifvSKAbyW9k5SgyBE2WgF5mMOanls94gglZ= BOJ52kS6XJw4-2FEP7l3QETKq451Zg6ozRhh1ewop9m-2FlSzoWtxdTvIJAFV1-2BX1-2F0J4YN= zlDkgovXMDXM83xrn1F8KvAJUQGYPwde8PER1BQDlRrlhhUNdKFNIQqj5CB2oUnymvH3pQPmZPH= BQ0FH-2BArf2B1TYSnjw64amLQd1RP3Lgvn48TN-2F2t0nHr8pxc2xLZGgssjz8jk4Jz" style= =3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true"= >Bay Hills Capital Partners IV </a></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzWVLpgbxkhySRYetlLR8sScP8pvqmYfHBg3KTfNCBpD7Q-3D-3DPCdj_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp16= 0W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kb= P1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2= BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4ns= Kn-2Fp5rXMHc2xKv5tNARPB-2BfUnxBG4ArdgtmcQBb-2FUpGIrPZ4NWYduavgoGnbMFylFV3v4= UAo0yUP1zLSRG0n7GTWevpOXek5oGpggIA6xW9TaM8AAIU2UjBtUndn0SPsxoyzf10sfqAuFbkB= 2SRZnSK2TLw5EQaHUEG-2F-2BJgcziYSSfrTF8goucsHkzqaWU54m7rV0ag7dM2a7wk2ZYC2GOV= CFNyGFU8FLsxKArEjL-2FcRuJBIrIJwrUJ4rcoTeniJBswABQIEZIzpUnqhF5tELZD" style= =3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"true"= >Constellation Generation IV </a></td> </tr> </tbody> </table></td> </tr> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" class=3D"performer-content" lang=3D"x-performer-content" style= =3D"min-width: 100%; font-size: 14px; line-height: 24px; color: #1D5080;" w= idth=3D"100%"> <tbody> <tr> <td height=3D"22" style=3D"padding: 15px 10px= 0 5px;" valign=3D"middle" width=3D"80%"><a href=3D"https://url6380.news.pi= tchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsn= swouzVqFCjTb7VPfQPU4is8Jmo3TkPNEhNgEItFNIT61a3v2Q-3D-3DWhTD_I3w5d9c01gkD8gL= zFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp16= 0W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kb= P1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2= BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4ns= KkgepkLcSuHLJXv3jmP2gXKmS74qXx2EBparOECr1PWiIJQh5Yl0i-2BJj6qB-2BwOcfUhCPDxc= QzubzAZZWveb2aMXF4Lk5BVdphbCV39-2B5Jhsn0zUVFq3RFH7w6Da-2FVf0amlQ8NvqLRuaU6Z= lVTnDKO-2BDfoQDjGUG-2Fa770H7dEu6UK5PTGKAPUk4LKaJOJBwRt9VHap5gVeZ5uZukUr1mDb= VC46xyExd9GMqK-2FxbbiLIyo5xzN1oqvfO9K-2FQotc9klV-2BuHdEPYwitneaeRPCiDxXu" s= tyle=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"t= rue">Bay Hills Capital Partners V </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-2BaqM7ONnvsnswouzVqFCjTb7VPfQPU4is8Jmo363Gds5= TWU2n-2FwVOV0RuxEQ-3D-3DZw2B_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3= t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWn= c3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJ= d6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xk= NvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKmXDbhd-2BtVrq27uZsUJQX1LLKR8Mg= TNGxPJb9ozXF8r4ExSI0dXyJFk8Py0XUbs5tYjVBFgVUbNsGwnb-2Fo9fk5vEsjRaYPKXZ-2BQ3= l-2BDumOS1rN1yEIji1hTkRnWuRcqlmKMc-2Fyy4nsyEHMgefhZ2qHcfzsZTLRSTqGodRb3xddc= by-2FZJ6s8E64utUbysv6LOBfm6RzYKeAbSbitTT-2BdFCvGt2flE2QiYdlBM7BdTPMyV6-2BPC= 3mk9h1owvUVla1MsJnnnmu-2BpskAR9tMpvW9ex6Z" style=3D"font-family: Roboto, Ar= ial, sans-serif; color: #1D5080; font-size: 14px; font-weight: 700; line-he= ight: 24px;" universal=3D"true">49 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-2BaqM7ONnvsnswouzVqFCjTb= 7VPfQPU4is8Jmo3WL7RO7kGXlTBTiNcU-2BrqsQ-3D-3DmYzE_I3w5d9c01gkD8gLzFEofZR-2B= h6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqW= 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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-2BaqM7ONnvsnswouzVqFCjTb7VPfQPU4is8Jmo31rAz4mfvtbzfDfCSO0Olow-3D-3Dt5U= 6_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91E= VpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxP= QG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZ= YKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5I= c-2F5UaNYmgtTy4nsKnS7zgmwnF7Cik6bt3Ifbl13zRI9w-2BKJoo5W0obvZOFZTsUNRlOj6732= 0s1FvMOfFQ0RquVfKohjB5xdgYxSX-2FDVY4hC13vWCLbQvU5iK-2FnNhSyYSF3n1PeB7vOIZCr= RYVZSlqvd6bsYTSgzUaulGhXUL8wdHKpLjubRsVqg8Pgxizz1vwYkA-2FGSX-2BDNhEFuPBz-2F= 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style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">German= physical AI startup <b><a href=3D"https://url6380.news.pitchbook.com/uni/l= s/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqFCjTb7VPfQ= PU4is8Jmo3BA0EbWqSkgkYu5JUQJT8iw-3D-3DpWKi_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH= kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR= -2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6= fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJln= ecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKnI4-2BxP5YspxpUm= DM6vpZZe-2BqApQBon-2FyRa0DOshL3yhH1s50FaMmZPSpFPFA4OTci0GE1mejmdMJcM-2BUTsY= L4QMFusaSyyzMW9hoptBE0sa-2FIjjReuHsIbBV7ycKqpmXzhQQlGSD1aDYkiwzG7UP2nmzbxMR= R3-2FUvdNkJZO7f8NEhmUqSXeLDnID3occzyihjxW-2B6Va32WJ9QgRsKB-2BxG2P8oY6m9D6Xo= 1RY6BIdHkK-2FZVmC-2B7ync21fJ5gVc5-2BhuSaM0ZDMwYN3TtG5wdSne7" style=3D"color= : #1D5080;" test=3D"" universal=3D"true">Sereact</a></b> raised a $110 mill= ion Series B led by <b>Headline</b>.<br><br><b><a href=3D"https://url6380.n= ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7= ONnvsnswouzVqFCjTb7VPfQPU4is8Jmo3kXOFnsH3V0faf9tIFjCk1A-3D-3DWDPf_I3w5d9c01= gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F= 2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmE= PHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCs= VR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmg= tTy4nsKmwNOh3s16hqKFKY98YHLPUz1SlxCk-2BjgKS22D1m-2Fu9LdHDpoQC-2BPjyZpl1Ol3y= k8r4jEW3d6CS8HM6xPEl0eY4pt60Qrf0K2AT-2B9nQSWKi4BkkXXRC0RT95OSYS7iVMRUJmB04I= Kwai-2F6ujgC3dvwVDlfjqj2-2B9ENyoxQOjpDVu16W6smXh9nJ6mRv75cy0DZummMtA10xcEaH= hDTvvUDmBYWDijHO94qdY1v55YexPT7ToAbcTKh6HPPWnSCoPSDDXMVbkh5SSAQdJ-2BFsrgsE"= style=3D"color: #1D5080;" test=3D"" universal=3D"true">Avoca</a></b>, the = developer of an AI platform for service businesses, secured a Series B led = by <b>Meritech</b> and <b>General Catalyst</b> at a $1 billion valuation.<b= r><br> Finance and credit platform developer <b><a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqFCjTb7VPfQPU4is8Jmo3zFBohN7sleLxRC4-2= BPObHRA-3D-3DUrpB_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU= gFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BER= psMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOX= xTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09szn= JiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKnuSt1bbHFXzPUfTQ7QgRUtr9k8AnOzOiYrfGoc2mD= JxjlqEidikp-2FN8YitRG2IdFBTJBv0NMc7QW86kqDrtF0lBHfIhv397CoLf8oay9TxN2Op6it6= dusNSSVLI5lVhRrtmn8IvyP8LMffDsRi-2BTUS9eXdX97XNh6-2BlZrFLOEAubSA8-2F0WpPK-2= Fz74Yg0SW1KukRH4yVeao-2BsG0VzzuCj56BfKR3L8leKg3QQGTx7S1Yd8KwUSjFtoTZzeMZayM= NlnkRbaEvPhe5jFqY22Gvjcf" style=3D"color: #1D5080;" test=3D"" universal=3D"= true">Kashable</a></b> received a $60 million Series C led by Sustainable I= nvesting at <b>Goldman Sachs Alternatives</b>.<br><br> Medical device startup <b><a href=3D"https:/= /url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6= GFa-2BaqM7ONnvsnswouzVqFCjTb7VPfQPU4is8Jmo3-2Fr5r2OknvAN0O0wiOITGjA-3D-3Dql= yC_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91= EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8Zfux= PQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0Zjqh= ZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5= Ic-2F5UaNYmgtTy4nsKkJhgWoh-2F4TioQ5qd9KSfvYpykIocG2xdrFUwKQUkJIs3oP0MnfBDho= TQ3sAq0WV-2Fx-2FEuAWUUOMGg9G3-2BzJiXMRBstx88Hu12gRcL-2FHaiDeM7E-2F7kNCF3gOL= ZUXGSFCGTVIvYlPl4IH31dBBF3yCB6QK22SyWsA3-2BmsL3LtAZ4p-2FghsPD8e99tjTnw2clFb= o6beVrCbkmU-2FJBD-2Fu2ulPmeBVTNe9rK0AtzWfiJPgPM4tpWeh9IC783wwctJEk3rOBGcARR= Uh7RSj1xXsHu4y6pM" style=3D"color: #1D5080;" test=3D"" universal=3D"true">N= ervonik</a></b> raised a $52.5 million Series B led by <b>Amzak Health</b>.= <br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqFCjTb7VPfQPU4is8Jmo3l= FTYPoWH6vED2NbMbnamZA-3D-3DV4X0_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-= 2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3R= YWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6TH= FCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T= 5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKkDvLaQAH3aDBCJS-2BiRcSz-2F9= dS8KEZ-2BL3oIma1C5W6LcY8-2BtPzgxj6EnjZUx-2FC-2FF-2Fh7FXFbA2ouwTkc-2B5WQBxnN= ShuEsrEolO6cBm83DKbJON0uAnccTvbLigNZkIIObokTAuqFfNaNTeX-2FWZ4CabaXRqfeYW-2F= iyoJG2IgaNMBAWTsdlcjR1gYk4O-2FIzP-2BUGGyFJm4jrId-2FDYe0H7kLq2wwlfRnCOvUfCt0= ms53oqC1bhCBCgNB0YECdVOASYieDVEOrOEsJARzE-2FYup5oInROx" style=3D"color: #1D= 5080;" test=3D"" universal=3D"true">Fathom Therapeutics</a></b>, an AI drug= discovery startup, secured a $47 million Series A led by <b>Sutter Hill Ve= ntures</b>.<br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVqFCjTb7VPfQPU= 4is8Jmo36EXhh7UkwD1vZQSVnX2ftQ-3D-3Dld-h_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkx= BRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2= Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq= 3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnec= GtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKk8KNq5EnyFKj1YhqF4= WCikzbrydCx02Cq9P1CfUZ04gDP0uxOHkPeM3-2FEtGkuUCS6E7SqaGAMeAPhHTQOFFYQiUE-2B= VU2sUNh0UHiNCvHzV4vgNG8d6hLuqmJ1FmrS0XsKOqxu6P2i3ygEObFg8KbGcKdWibg4zia7V3B= JBkdOcKcjXVw6R3wG5vFfnlizKIKSKtvXRlWzFyQWQc5SWa8gveWAL-2Btdy810UBuQUzFjMxIS= 3DBESDAiqzsm3CaeQzTs-2BFw6englvgqk-2B-2FRKi9t7q" style=3D"color: #1D5080;" = test=3D"" universal=3D"true">ComfyUI</a></b>, the developer of a generative= AI workflow platform, raised a $30 million round led by <b>Craft Ventures<= /b> at a $500 million valuation.<br><br><b><a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzWbDM-2BB26Y-2FPQLuhPPhvXmlOhXF6Cy-2FZUjHlcKikoT3Gg-3D-3Dva2I_I3w5d9c= 01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-= 2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJ= mEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeX= CsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNY= mgtTy4nsKnZJxKHwGuclh8HVx0RN1MkgLigoJmysVjIO4CpfJxdZJaLteWWw9HCqI-2BoR32IBG= JG9Oz0AI9p3Nz8wvOFVQ11hA03LDXYWVIoZHMS1rVM44FAdRX5impcLjMU5VnHYcHZsVG6AREeE= hX0F5mSsTSLeFoT7M6zpZ25SgG0vVzKA000EVuz-2FnQYw5itHO0tAsHKKCPuq11EHEftq1VJ5m= -2F7F2saWtZgqldtAQ3vTjny259Kf11K5GlFvMhF4ZXAYIYx3BM1EQmj5OR2EoT8R9Y4" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">SquareMind</a></b>, a Par= is-based developer of a skin cancer detection robot, secured $18 million le= d by <b>Bpifrance</b>'s Deeptech 2030 fund and <b>Sonder Capital</b>, Maddy= ness reported.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>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>Sto= nepeak Partners</b> and <b>Bernhard Capital Partners</b> agreed to acquire = electric utility <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cl= ick?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWbDM-2BB26Y-2FPQ= LuhPPhvXmlblLzepp61ymVYHfxDfOwwg-3D-3DCXWZ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarH= kxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR= -2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6= fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJln= ecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKkHRGffZI5uG-2BUz= iBxH12sCeDlcIOrsVTRhkow41-2F9ze-2FLda1MgdvznuphCd25KR5ROpEJj5pNY4Bv-2ByPS5r= 8uyV9eGTLiPujcEAq9bMsPFil2McNEvM6bTucwGZQSoZNeeh9p-2F5rfeXnBAf3jufVqbcvUIQO= q8EPKCrZHlv8aWFOKsJ6lmwX7tNFr-2FJ-2BagdGp-2F7c9S0yKcp6mPgcRuJ-2BE3WEcdPHJrg= Mre6FvsFyTTbHhnPg2W8r1KP1vWn4KxM5QPMGgJS3odO2wU7xGC53fs" style=3D"color: #1= D5080;" test=3D"" universal=3D"true">Cleco Power</a></b> from investors inc= luding <b>Macquarie Group</b>. The deal values the company at $5.75 billion= to $6 billion, Bloomberg reported.<br><br><b>Astorg</b> is to buy <b>the m= icrobiology business</b> of NYSE-listed <b><a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzWbDM-2BB26Y-2FPQLuhPPhvXmlgzWQKpxHssQvTcGQm1z3JA-3D-3DP3M-_I3w5d9c01= gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F= 2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmE= PHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCs= VR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmg= tTy4nsKkHMIB3aWrbD6DVzAQAiSPlyQQGyMbet4-2B1CjJgGIBAsfxcyX-2FnD4kcA1FnGcFAAW= pAxfg46Uyr4FD6hL-2BPd1M3Tdmxnl92AJGQHIXscjcdWSIyGf3H-2F8akXUEbt2G5vGYbaEwHs= iFxMqKrZnDRwEQ0CpiSP8oMMlBayDnd4NQjbZHy5GIlUYYIbZf9V2-2B8JLJK1d3sAV43l2eysg= mJ-2FNNKBErOKJKH99fXk9TeuDIvdPTDt1-2F6FXKeAVlNJ6po5Pyb7mQPfpsU-2FnkFIgA0XKG= d" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Thermo Fisher Sci= entific</a></b> in a $1.1 billion deal.<br><br><b>Apollo Global Management<= /b> invested in <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/cli= ck?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWbDM-2BB26Y-2FPQL= uhPPhvXml-2FaOARiqIvWD2rIBZK-2BnM4Q-3D-3DKb1h_I3w5d9c01gkD8gLzFEofZR-2Bh6Vw= arHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2B= IfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo= 3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkg= JlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKnUReKPSFxFCsG= O1OldpL-2FuZUm9BGNcXrnZ6UNZDV5R9KIsjxnSoWLfwK2m5duJSmWgAxOxuuqPagl8FWjxyz9b= sEQjGq8mlsxZn13YS4VLTaFvNP5BnRWVmjvLP8zHaLEwYi67bgxqixkns4dH8-2BSK8rAUq9M2Q= onyCJC4xFnCZ-2F5jxYGlbFs4mjrEAufDMVYDtzXvFzzRYpXvyCDkU-2FjnBW2tWsJPn6UgTRpX= mYvxx4-2FRGpMViw1tHxfP-2BWqUynECcBy9u7XRvbNnD2PCOuIK" style=3D"color: #1D50= 80;" test=3D"" universal=3D"true">vVardis</a></b>, a Swiss dental firm, at = a valuation of about $1 billion, Bloomberg reported.<br><br><b>EQT</b> led = an =E2=82=AC880 million secondary share sale for <b><a href=3D"https://url6= 380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2= BaqM7ONnvsnswouzWbDM-2BB26Y-2FPQLuhPPhvXml1mYl2vdF5L3Upb30GiuwSg-3D-3D5HwA_= I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVp= WlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG= 1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYK= vxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-= 2F5UaNYmgtTy4nsKkaMzdfz6TA1cv8GxIOWvAFlbWUXdde1U7P969vN8aRh196NUG4F-2BNgdL0= 7IbV-2BTEaYQL7KojxiBjZslQn3PaAT8nk7-2B8fY8nA9IqEfnIDMlLWKFYjThsTOPRw2kVX51W= Oal0AJkk1UX7B-2FU1iFDJ-2Fd7tbB5dJ8U-2BHF3In5dSatENhAnK7wdy5HAlWj3GfYymZBj6r= qQXEDey2lxxTQgEf9N0nhefKx83SxBKsJjIbjGsLzBuZmDW59PlGHER61qUwytAPQSDNsYqttxs= tDzyZL" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Vinted</a></= b> that valued the Lithuania-based online fashion marketplace operator at = =E2=82=AC8 billion.<br><br><b>Apollo Global Management</b> agreed to buy th= e <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWbDM-2BB26Y-2FPQLuhPPhvXml-2BuP= FqS-2BxAa4n2xAQQkx2lw-3D-3Dm8ur_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-= 2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3R= YWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6TH= FCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T= 5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKk6wFXgitZaFBBgUaeCJKCXkmlEN= f5aFStCnRreqf7ErJBY8DPvjdQpQVP5RKlGnoF5BKmCBWSlJPEKYh1NOorq0Y1F9rlf5cRXnREv= GM9xf3IyQEYeuJugqWJOit-2BKe4S93evNtgmIi64jRehyhwIKsiW8DhMyD0kxHmCcqg582USL6= 3rps5iW5mFyDYJ0CMiJTH-2B646nG2TnHxNcBfaUhEwcv41jEu1fWmXWCtOy0TOme-2F1nIuaFm= WG3k4S-2ByN00ZFdT98OCtKfYX4VpSgNz8" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true">interiors business</a></b> of <b>Forvia</b>, a French autom= otive products supplier.<br><br><b>Pelican Energy Partners</b> is to acquir= e nuclear decontamination services company <b><a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzWbDM-2BB26Y-2FPQLuhPPhvXmlyb0UdUjhwy1znFFbxaeMkg-3D-3D_MPF_I3w5d9= c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS= -2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUc= JmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxe= XCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaN= YmgtTy4nsKkb8nULLD3hyINWSOZSvHdxNVHHFiTJfiCjZty803nEQOoBm6jF-2BGzqSOztaEMJP= ITG4SLS2kGeIV-2BJKpgB9Qh9f8O8-2FKBfSm8Jskjcbbczbs9sIy6nkajxuh7qJxhOnjyOPxz3= wqivD4qs-2BZ0Qr0HKjgtUqjRNXxTD-2BNRYXz2RH7yw2gAqLKPvtkyu5vb2uCy-2FMHaD5K42U= 2Z9tY4qcjWLvxFG5FB-2BLXaoUxjOY6CqZ5JCJ-2BaS5oB2gwyEDWGKz1-2Bi3-2BNL87htqmAH= iP5B1zQI" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Environmen= tal Alternatives</a></b>.<br><br> Austin-based educational technology company = <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4= n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWbDM-2BB26Y-2FPQLuhPPhvXmlh6ogR3q= O-2F5WOt5fLFZYo5g-3D-3DLo44_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t= 1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc= 3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd= 6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkN= vUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKm2CeCSAG5ls7xVPqtX1xe7tjbw8-2Fs= NY0gTVRBEmu976-2FC4avB-2FYRFmtrNy2oy7MbfW3y-2FKOUTrPFiAF1e4T-2FUh90Iz-2FU-2= BCqy689VlrAJJNQFzcWrfrfPVYUl71Ap9JHG3851B7A0ocjKj728jp0RMp5Gxpq0HXSbXhCQjAV= xGq-2FUWwO15gKJ6yk5KCi9-2FIzmg7OydChqzb1oSTgeO8PrinPeP9rkfRsT-2Bn6Itv60oGdR= AEXj2KB6Zvz-2FImDtGOIknw5JQvRY-2FV4XgQmD2rgO7C" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true">Literati</a></b> agreed to be purchased by <b>T= rustbridge Partners</b>.<br><br><b>Sullivan Street Partners</b> acquired <b= ><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n7= 3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzWbDM-2BB26Y-2FPQLuhPPhvXmlyT-2Fy2yP= MMmj45NsR5L5rCw-3D-3DQkwE_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1y= ZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3K= qva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6I= JSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvU= efE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKnzljhVymUnHsZNPw5M6Wd48GDW1KwRFNt= s0gX9OElg4Wu165Mv7UekDiXN8WSrmPm8R2HMIGGv8tVtHWY832363TAjvAuKPkKfx0fzrR90wI= UrCG8LpUgr5dvs-2FyHwWESi59eZoX7fpRAJtED-2FNXHqX-2Fxc9xH17JZbLr8jfIW8MI3NQ0s= XtgripAsycie-2FyUpHruOfx1vYXpkXhH23Edzim5d-2FkJtFZ1s6v7V4-2B-2F6kYOBDWXftlz= DIZgM6e9cKFFXa007yH3dkPQma8MhkrMTS" style=3D"color: #1D5080;" test=3D"" uni= versal=3D"true">Mi Hub</a></b>, a UK-based corporate uniform provider, from= <b>LDC</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-2BaqM7ONnvsnswouzWbDM-2BB26Y-2FPQLuhPPhvXml3JcUB4BrAP56R= vLKTpvwcQ-3D-3DeiQQ_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdW= eUgFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2B= ERpsMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZD= OXxTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09s= znJiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKmuEog4vdRwzXarl4csQx2p5O8qT5OSrMOLsvmEe= Mcn58j-2FlUz0uv-2F1uXw-2B1axm4iIv-2FX-2Bk7y1eMnOXMadeurAxKIj-2Bu9epk-2F1-2B= rJfFomHGA99XzR5uc-2BzAkskw46LC84Hyjf-2FX3-2F9zXA1ypklw-2BHSsae91QDsrVQwym3U= Mbd0M-2BcrdXRAsqkzZWaOIRvOYnwTa1-2FE-2Bkb6QdAjC4E1pV7tCIYDaQ2ZFjBheDUD3Tm6J= -2Bngu3dM7azJUADoBR5pNhzCNb9nDotz31uOlwJXCmM08" style=3D"color: #1D5080;" t= est=3D"" universal=3D"true">Ajax Therapeutics</a></b>, a cancer drug develo= per backed by <b>Goldman Sachs Asset Management</b>, agreed to be acquired = by <b>Eli Lilly</b> for up to $2.3 billion.<br><br><b><a href=3D"https://ur= l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzUQmG5aB9lCp-2Fi9LCm4FQRmS09cfWuTGcgsqn6z5-2FSIyw-3D-3DJPc= __I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91E= VpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxP= QG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZ= YKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5I= c-2F5UaNYmgtTy4nsKmdGHyshuqRBiCkqGsZ8vPKJVZMem8FDE7QqQ3hTDvXiO3-2FuvbvwYg4I= PAkIo8SGSsd8QLXfiVbwxznb5KZAvUW77H63X8JLN10gDnLMYC7sdan7Gtiz5oTDq8Gqs1OmNhs= N22JpUYpxlWgfjvLA8M0p9J8KDkvvkde800PC2Mr45YiLK8nZp2v6rCCtGMZjRSKt6t4sfLnGR-= 2FzF-2FlpIiAoBR0n7FojvO3aDJnz4GFYpZ1U5HwrUXw4JXl0kxd7NB31zhatOoOZryeyRuUlvT= sG" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Suja Life</a></b= >, an organic juice maker backed by investors including <b>Monogram Capital= Partners</b>, <b>Paine Schwartz Partners</b> and <b>Meaningful Partners</b= >, is looking to raise $213.3 million in its IPO.<br><br> Biotech specialist <b><a href=3D"https://url= 6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-= 2BaqM7ONnvsnswouzUQmG5aB9lCp-2Fi9LCm4FQRmAdSs3CQ5rEiNFMv0fsnpXA-3D-3Dysu5_I= 3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpW= lF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1= tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKv= xIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2= F5UaNYmgtTy4nsKm1x1fS32A0KWInTyXmcguQ-2FhRVhFPJukJlRK2-2B7347wwulT15CQ367lR= E9JubL1VtiaHYWG2FvjAjFsfPsFpGs2VOjz3-2BnkpQ91QXbCjRfFmgyGrNKmYIoZ7b8LNSA-2B= Ud0PFdKIYVK0AEXP-2FbPJC8bOPqDAZea7e6hNfxmyoa-2FtqA-2FUyzVOGEre6RW9dkEczatnN= c6FrDzmmcx7nQdMrQA-2BsRpnK6ObAFW7fBk7Iv-2BYH-2FU24W3EZHGwqZ2e3U0QZRgWktOZek= epqVqY14AxGvo" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Hemab= Therapeutics</a></b>, backed by <b>RA Capital Management</b> and <b>Novo N= ordisk</b>, seeks to raise about $212 million in its US IPO.<br><br><b><a h= ref=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4= Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzUQmG5aB9lCp-2Fi9LCm4FQRmifiF01sUHV4d7RaD= nRkkVA-3D-3DDmgW_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUg= FVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERp= sMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXx= TxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJ= iZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKlJsPuaQceMj49fi-2BDvp2OdO3EO3dnArj6DLCGZ2X= Vk8wQCL-2FRD1rWJ8Zxc9O-2F-2BFa1qxco1A719Q8XT7qNd-2FQVq51glNvphGytp90fAdBfhi= VCBkWtd4hfqxnHDo-2FlbcfecbIcDrhwjk-2BtKjzf0mky-2Fxf1GYLHwoW-2FHrbvLPwqzrJcN= m0Zp1VuXcRsRau26Yg07SMVHPW1-2F31giTD0uEU7CeP3dw7oSNWN3s6hY9-2BA0Dwg7aDYS5DK= gr7lEgnE4RBZdQ0v1cgoC-2FegEjuevf5-2FF" style=3D"color: #1D5080;" test=3D"" = universal=3D"true">Saavi Energia</a></b>, a Mexico-based power operator bac= ked by <b>BlackRock</b>'s <b>Global Infrastructure Partners</b>, agreed to = merge with conglomerate <b>Grupo Mexico</b>.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Fundraising</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table 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-2BaqM7ONnvsnswouzUQmG5aB9lCp-2Fi9LCm4FQRmHEdoTmgmomt44fI= bsKCwAA-3D-3D1gC8_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeU= gFVa0m8PzsFWR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BER= psMyZ79QrW8ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOX= xTxkKBnzAc0ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09szn= JiZUWZEhUU1c1y5Ic-2F5UaNYmgtTy4nsKnIzR9M81BIkYkX70dUHKUDM-2BPtYqqmynFPpToKB= xWBlCUkOLh3IhGV-2Bn6YTDZd604JaW3NPx6G8PG19ZtbkkUvkB9RgrhDgRwJwWw5-2Bdd5HY68= Q0CA0TkeuQynmBmDEI1d0S-2BhPbsQiDDx3z8O2yEFko-2B80TEcIpQnpENnW5y9wwrIYuWzMUi= ENx4NA64HV-2BsahWPqGjPe1Yy4nKa4CK21lyviNSUfQ7I6WyLP9LYEpm7w1eiowdOWh4KnmbXh= dlrLGdaQcY7WqzEAotP8NcE8" style=3D"color: #1D5080;" test=3D"" universal=3D"= true">Emerald Lake Capital Management</a></b> closed its latest fund on $82= 5 million.</td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group-header" cellpadding=3D"0" cel= lspacing=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff;= min-width: 100%;"> <tbody> <tr> <td align=3D"left" style=3D"padding: 22px 0 0 21px; fo= nt-family: Roboto, Arial, sans-serif; text-transform: uppercase; letter-spa= cing: 1.5px; color: black; font-weight: 800; font-size: 16px; text-a= lign: left;"><span>Corporate M&A</span></td> <td style=3D"min-width: 20px; width: 20px;"> </td= > </tr> </tbody> </table></td> </tr> <tr> <td style=3D"padding: 0;"> <table lang=3D"x-news-group" cellpadding=3D"0" cellspacin= g=3D"0" border=3D"0" width=3D"100%" style=3D"background-color: #fff; min-wi= dth: 100%;"> <tbody> <tr> <td style=3D"padding: 10px 0 0 0; font-family: Roboto,= Arial, sans-serif; color: #78766F;"> <table lang=3D"x-news-group-content" cellpadding=3D"0= " cellspacing=3D"0" border=3D"0" width=3D"100%" style=3D"min-width: 100%;"> <tbody> <tr> <td style=3D"padding: 0 20px 0 20px; "> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><b>She= ll</b> agreed to acquire Canada-based oil and gas company <b><a href=3D"htt= ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW= Irf6GFa-2BaqM7ONnvsnswouzUQmG5aB9lCp-2Fi9LCm4FQRmLDCVuVounMkAdSc8gj4fGA-3D-= 3DRWUL_I3w5d9c01gkD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsF= WR91EVpWlF1BS-2F2Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8= ZfuxPQG1tUiUcJmEPHU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0= ZjqhZYKvxIQxeXCsVR70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1= c1y5Ic-2F5UaNYmgtTy4nsKmaXwr-2BSqnQPDqrLx6giBOhch5qQbWEXX8v4jG1PSfWhSyF6q1H= cVMctM7w0LM-2F-2F5JgtS5EJmi88Q-2FbPwv0zYaoRluywaSWKlwikgmVPYaBcUJb2TgZi1uLB= jPPSzfRDcOyqN-2BMn0LWwH05SMkj5ZdnaEq6td1EdJMWk1hbFPwGvhLjx-2BiRIvcm189fXjgm= VxnyDJl193uEMEbKGcF-2BavNkF58Wy9xWb-2Fq8kusZJM0hvAn-2BLuLO2Z0j43xlH9grRdodh= wabaG110sDTN0-2BemgWj" style=3D"color: #1D5080;" test=3D"" universal=3D"tru= e">ARC Resources</a></b> in a $13.6 billion deal.</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-2BaqM7ONnvsnswouzUQmG5aB9lCp-2Fi9LCm4FQRmSxADpCa= 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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">The fl= uctuations reflect both the composition of the manager base and the outsize= d influence of large vehicles on average calculations.<br><br> Source: <b><a href=3D"https://url6380.news.p= itchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvs= nswouzUQmG5aB9lCp-2Fi9LCm4FQRm8qByWqnPPiIRTL9X9-2BWfkA-3D-3DI1ms_I3w5d9c01g= kD8gLzFEofZR-2Bh6VwarHkxBRFCfmzy-2F3t1yZbcbdWeUgFVa0m8PzsFWR91EVpWlF1BS-2F2= Fpp160W-2FQ1jqWX-2BIfR-2Fvl0e5m3RYWnc3Kqva-2BERpsMyZ79QrW8ZfuxPQG1tUiUcJmEP= HU8kbP1r2ZR3kQiyjKo3T6fq3lkOma6THFCJd6IJSbKZDOXxTxkKBnzAc0ZjqhZYKvxIQxeXCsV= R70-2BP9cPArnYbVWkgJlnecGtchMB47T5xkNvUefE09sznJiZUWZEhUU1c1y5Ic-2F5UaNYmgt= Ty4nsKmYyaTNaCxG1vAzAGTC-2Fgotb0uKCYNd3n7GbwtUUeqxw-2FiHDtEe4zD9BbjVdMNnLnT= vrSib-2FjfFR6LZsnhBHVpWo7MXFrHvu1OX8kUudduciGJerWwi5oXqk7AgH21pYjgo7Qxs1uSh= N760H6IbfKpqG5sr1aUXroxpTQEQQCBcZJ6zfjmMPReSa0XkM-2Fjl92Rqgb6q8uk3BqRBch6iO= Cz-2BwZQrX73D4Cu26umMRjZlvAhDuWYioIu8YSEoefk6gvbrFlbuSE0Gbs5AYPFmUJkG" styl= e=3D"color: #1D5080;" test=3D"" universal=3D"true">Who=E2=80=99s Funding De= fense Tech?</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> </tbody> </table></td>=20 <td class=3D"side-bar" width=3D"140" valign=3D"top" align=3D"r= ight" style=3D"padding-left: 20px;"> <table lang=3D"x-sidebar" align=3D"left" cellpadding=3D"0" ce= llspacing=3D"0" border=3D"0" width=3D"100%" 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