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font-size: 1px; display: none !important;"> Metser= a a heavyweight among obesity drug deals; supply chain VC activity jumps 26= %; Europe's PE returns overtake US funds </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;">November 10, 2025= | <a href=3D"https://url6380.news.pitchbook.c= om/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXwrv6Ac4= TOG3Utf1dWuLY8KxcQcWWuFZyjnxwIOj306A-3D-3DiDPB_Pr966knuaHmaw6c7pKvB-2BCEiDn= j5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw= 0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1= RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPa= icxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLv2UepFYysY= cJnHnlNWu0mmRbIjzPULWl-2FQI-2FRQmheTqxJ1g-2F3bi8oYsSJAMHJ86XQ0tSaZSOwbBCKmM= 9gRXFiPyk-2FZEbCDRBLXjU-2BSdbgqKOm-2BZ-2Bc77ljG55bahRh4gOOyhgSFiXUzs51UZe4y= fC7fiNHxItcvopSOu2hkvKA4kNxSsSHAPqVjuw2lbrKkwOtvW45alHZGs6y7nENlDWyJOgVYYgP= bqAZXhWdP7Wp5-2F3IhjAl6NKbDkulKgF8Uspw-3D" target=3D"_blank" style=3D"text-= decoration: underline; 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text-align: center;"><a hre= f=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzXwrv6Ac4TOG3Utf1dWuLY8poQ53o4yxPy6qtRwuCZN6A-3= D-3Db-LB_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68N= VRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHU= dEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkS= MF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRw= bccuoGmJMTm-2BEDZEDg9e5nnrLvefBjtL61epq59awCbB1QVpgS0SyNzNooX34FvirGlzRRRFm= t9lEFCX6M1XnJiimW-2FZIZ0p46uts-2FQjTCN-2BD32qsE8ArmoOHol-2BQBXshjwFTttE6Es3= rHIX1KLAvQLuKa0MI4anvK4bkRboZGgpvWuzoOeMN7QzXJTdznnSzUlLqf2-2BLLJEQ1fRFuFAu= eiGxe81yFM9Bze4SUskasSgzPJN4trOz8u4V4LSJS1qdOi2L1AvomBh2Br7lgBOXWDv6o-3D" t= arget=3D"_blank"> <img width=3D'1' height=3D'1' opacity: 0; style=3D'displa= y:none !important; mso-hide: all;' src=3D'https://my.pitchbook.com/ms/pixel= ?userId=3D3DUK23EBU6P5WAW&eventSource=3D3DZQDXJQ6VUBAECQE7XY5D5PSLQI&emailI= d=3D3DQB2JEOR2NO4R4&emailName=3D3D6H3WX3QH7CXEMMMBQSMFL245ZG625LDUYNYOD6M6Q= HVPV46EGQLU2DKV43QYFSZS&pixelPosition=3D3DUAZEVU3EPI6EYRHRSC2KEHCFHGQ6ZMZBK= VWWKQA.gif'/><img src=3D"https://url6380.news.pitchbook.com/wf/open?upn=3Du= 001.3gwe9GsF-2BTAFq5zC5EhFQ2a8abB1qTlMwYRLNzMolGjSmCPqRZuyzb5tQBOnSwcKCjVPs= daSeYZuBMlWm5F7sNA4WKVOiQMdDf5BrMIwWcT92phxF8AWOCtXYNZUIHXkDe0NmVN8R3LGMIzh= a8p0yebhFzD-2BTOym9zMzB0PTo6FNCrDrXBodElBP6MQPo1Dp2E-2F9791Fgw-2F9fcbG9NCuT= Du8SHVBrweXgr4-2FuQSzI4LFPRGFLry2TWkViGJOududCeXDac449WiIUUdrxOGE6Eh8c754FU= wt3Tm-2FTbpJzE6SEqBaf4PSxQaFDnM1CkxmlzRuIZyxV3BN32AQf9XUZvQWg3IFpWHKn3aGWeN= cNmxg0RDIyjh2VZvusStv1-2BAIvLwQf1oDwFkVcF595nK6q6IvZ9TJsGZud0jk-2FKH2nIb33I= bPfeuRA-2FNmLtagXL0AauCzd9eAmQHqzIM6lyUD3ahObiiSFOI-2FkU3JwkXFrDzsjqp8MsZz-= 2F2iedO-2B-2FcdCgnvxlNO0AUvVSPU01sbSDYO5jqv7-2F0OTtST5XAh-2FSki-2Fi1WGaMQw7= wZnoMa6O4wLX" alt=3D"" width=3D"1" height=3D"1" border=3D"0" style=3D"heigh= t:1px !important;width:1px !important;border-width:0 !important;margin-top:= 0 !important;margin-bottom:0 !important;margin-right:0 !important;margin-le= ft:0 !important;padding-top:0 !important;padding-bottom:0 !important;paddin= g-right:0 !important;padding-left:0 !important;"/><img width=3D"141" height= =3D"39" src=3D"https://fonts.pitchbook.com/newsletter/pitchbook_morningstar= _logo.png" alt=3D"PitchBook"> </a></td> </tr> <tr> <td style=3D"text-align: center; 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>VC, = PE 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; padding-bottom: 38px"><span>= Your edge on global private capital markets</span></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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PitchBook i= s launching a new generative AI experience on its Platform=E2=80=94and our = data is being integrated with ChatGPT. <a href=3D"https://url6380.news.pitc= hbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnsw= ouzXwrv6Ac4TOG3Utf1dWuLY8s-2FVg36HigKjzyiX1RG69Qg-3D-3D8TxX_Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5Z= joxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i= -2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQO= G1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5n= nrLun-2BjdUwQlIhlzfSB5lqwjuNPxNFbdph5jX1ImykwKIH2efp4TFUxxkbDYWVdBdFT7wj2MC= s9im57YrTf7RaamDJowe7QCyQwESUrTxiNd-2BdWWsqRD-2B7a1rO4LslBFRe6ZFoPXqTUM-2Bf= Ib-2BZmAa7ub1r4RSrZCP-2BY6dk0m-2FsudgApGwb-2BQBt6ft3br38qIe8Yyi9CW7pES8ZQGD= nARcI-2BtUrccffETXrA3N4lw4fbTabZ0D1qKPpcoZ8T1kkqA1ASU-3D" style=3D"color: #= 1D5080;" test=3D"" universal=3D"true"><b>Here's how your work will change</= 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> <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>Was= this newsletter forwarded to you? <b><a href=3D"https://url6380.news.pitch= book.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXw= rv6Ac4TOG3Utf1dWuLY8Mt31Cr-2B2FvOQVMw8-2FRZQoQ-3D-3DPFI8_Pr966knuaHmaw6c7pK= vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5Zjox= zFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2F= fycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1u= u-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrL= uyImOvUaI9af9Sqm6tT6K-2BisG-2FCtC0zKd2iAGXXqkDyv4kCYgXiOIZCt-2B-2FLwqGXFyyD= d-2FUGyQs9iJuOsZF03VhJVijMcpz9l-2B3TcbroOMLZzCmR8-2B7nEyUGhWK83rhYV-2FIjURW= mnubwt4-2FHsiHFEHetZiHnlE38oD11vsGfvYRddAgGDdtrVGQYOFckvcT9FdT99wGew1iZFH1j= Q91CDitLV4Fvi3e-2BIXt7JGJcbavhsMqHI-2FVHKe1LvJATCJh85M-3D" style=3D"color: = #1D5080;" test=3D"">Sign up here.</a></b></i></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_574531" id=3D"n_574531" 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;"> Pandemic-era overdeployment is= triggering PE consolidation, KKR says </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-2BaqM7ONnvsnswouzXwrv6Ac4TOG3Utf1dWuLY8Iqx2GVa7y= KFrumce3dOMdA-3D-3DkMaf_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK= 7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQao= dBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMy= qqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLtfHc7ukB0vuh3MCL9u3cFJ9JKcMU22NOq= k34-2FOhnH-2BP8OEKqAJj2z1sBJg2LO818L1zVwe48Lk7wcCabLyNTE0CkKA05Iv922iC-2F5C= uYJdy1dJHyg0ty9BqX2Ln-2FIrhNjalsEZQFuOn0tCZ0zp1jEL1NkYn9MwTDnlBLV0kBFJO-2Fb= 74S9tyvZLMdsv9l4vh6hmaztnPtxR9WB5ZQzhnQ1UYPUAstDozCt6deqs1cbn4QQLbRFFe-2BbZ= Ub3BDyfMnMQ-3D" universal=3D"true"> <img align=3D"center" alt=3D"" src=3D"h= ttps://img.pitchbook.com/news/71292.jpg" style=3D"border: none; max-width: = 420px;"> </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">(Cheng Xin/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 = Madeline Shi, Senior Private Equity Reporter</i><br><br> Many PE managers who went all in during the = pandemic are now suffering the consequences, as the widening dispersion of = fund performance drives more capital toward fewer managers, according to ex= ecutives at KKR.<br><br> Scott Nuttall, co-chief executive officer of= the $723 billion investment manager, said on the firm's Q3 earnings call F= riday that some GPs deployed more capital than they should have at the mark= et peak of 2021 and early 2022. This left them stuck with valuations that h= ave since proved difficult to justify as markets adjusted to interest rate = hikes and tariff shocks.<br><br> "Some firms deployed a five-year fund in 12 = to 24 months during this period,=E2=80=9D Nuttall said, adding that many of= these deals will lose money or require managers to extend their hold perio= ds in order to achieve their targeted exit multiples.<br><br> This divergence of fund performance is promp= ting LPs to back away from some funds and channel allocations toward a tigh= ter group of managers, he said.<br><br> Nuttall added that KKR has learned the hard = way about overdeployment when it made too many investments during the pre-g= lobal financial crisis peak.<br><br> That lesson was reinforced by the firm's sec= ond Asia-focused PE fund, which reached its final close in 2013.<br><br> The underperformance of that fund means KKR = has to return $350 million of gross carry to investors during Q4. The firm = expects a lower net realized performance income in the quarter due to the c= lawback.<br><br> KKR raised $43 billion in Q3, which marks th= e second-highest quarterly fundraising total in the firm's history. The bul= k of that capital came from its credit business.<br><br> The firm's PE platform pulled in $5 billion = in Q3, raised through its retail vehicles and the flagship buyout fund, Nor= th America Fund XIV. The firm's PE strategies have brought in a total of $2= 2 billion this year through Q3.<br><br> KKR reported a record fee-related earnings i= n Q3, at $1.15 per share.<br><br> KKR's shares declined nearly 0.73% Friday af= ternoon.</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-2BaqM7ONnvsnswouzXwrv6Ac4TOG3Utf1dWuLY8Iqx2GVa7yKFrumce3dOMdA-3D-3Dy= g5Z_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchc= yDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMM= D-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B= 6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuo= GmJMTm-2BEDZEDg9e5nnrLsXhT914nW5oalnUNaw-2F1wXUfr6hUguC7ZCJgdJoht7nH014qQAN= jEqwbZ-2Bx8ydcG2Ibx6gGpbcieYHSk7dxQ4aLLGIiyRtWIhWAYC8YNP4NFUVFdh4sNVFk9YPFN= tmpbwLEZ3QyGkHvqJWbtTovIR03-2Fqv6n90yIMEsELSViH8OQTd68cov7LJPW-2FgR2Ihva5SF= h7IooYXX39sIynk-2BXZY-2F1eCDI-2BoUHzAGoiTC7O5LqyA5bxhvIqRDY44T-2B1xd1g-3D" = style=3D"font-family: Roboto, Arial, sans-serif; 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"> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top"><i>Rel= ated research:</i> <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/= click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrH= cFCcaT15AyR0DCq35VmmEqGL63fEnw-3D-3DFKUl_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJ= YL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZ= NRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pO= gSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQB= YD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLtzJgGMf7aq-2Fgr-= 2FadKMiqVS4nHTVpBs-2FfQhDYFwAaBbiLuhaH5ZSzYaq-2B9oYayf7DHtfa2E8Zv-2BwzBfPkC= sSStbX6Piv-2Bl7xmaHszG0fXD6gVBFrqgbST79P3UoKrrD0SnyNjHSOKZQaXs3qvRvbXvFmTod= dJ2jZ1AHcaFiL0PAta-2FI5vU5dVv1C9EzqawcfBrr1l0nYuwDrdp-2FWVm7BjfDwnoNAoVpJau= YzzxkJR4AqrxYtjHbDQYYX74co7nW5qE-3D" style=3D"color: #1D5080;" test=3D"" un= iversal=3D"true">Q3 US PE Breakdown</a></b></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 6px; min-height: 6px; line-he= ight: 6px; padding: 0; " colspan=3D"2"></td> </tr> </tbody> </table></td> </tr> </tbody> </table></td> </tr> <tr> <td style=3D"height: 20px; min-height: 20px; line-height: = 20px; padding: 0;" colspan=3D"2"> </td> </tr> <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 SVB</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_574078" id=3D"n_574078" 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;"> Fundraising is back to pre-COV= ID levels </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-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15h-2F-2BxZjBgrGL= nvYdjth21bg-3D-3DhcH2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43= kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7i= z5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodB= RWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqq= N0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLuwzDwbFXP4igkFFBlCwCVr0tehQjJO8qG1e= ivq2O-2BPBTcWaVF-2Fz-2FpuPe8cy-2Bo-2Foc6fDley6qichdEKSWAuLlU5j4fNlGtLDsqDMI= L8GhJyEomJ0XQW24PE-2Fm-2BIadYF3TRMvjIfVpoci0ADEXKZkwCL-2BPlqPdBY3KnpK2QVAmG= m8Y4tv6nHrsw6-2BuXemUr63SQSopy-2FMYG2cKFlPHVyxhfVG-2F-2BRHrgqrB0A3XcYrdR0us= X6nd0K-2FinzNv0Na5FUTTk-3D"> <img align=3D"center" alt=3D"" src=3D"https://= img.pitchbook.com/news/70462.png" style=3D"border: none; max-width: 420px;"= > </a></td> </tr> <tr> <td style=3D"height: 20px; line-height: 20px"= > </td> </tr> </tbody> </table></td> </tr> </tbody> </table>82% of funds surveyed find the fundra= ising environment stable. But capital is flowing unevenly depending on fund= profiles.<br><br><a href=3D"https://url6380.news.pitchbook.com/ls/click?up= n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15= h-2F-2BxZjBgrGLnvYdjth21bg-3D-3DBOAr_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0Y= QP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY= 3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm= -2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5V= C75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLtu35XZIdnawg7E91NC0l= IbeKuhKxDp3NI-2FzTRDKq8c-2BfgLd-2FdPUt-2Fwvi-2FIG-2F10OFhHJqtcy9RCp5Cfkqy6G= DmfjIZW-2B0uRE2HCDmcuG6WmRNaJV8-2BDCbqTM902H8G-2BW3G8WQcmHq4eoEV-2BpWKL56cz= 4mAkQkG6-2BWakUuhwUG7fM-2FLLPm-2F-2FRMFF3DEyF1tsJQt08xlZqqQGuB-2BPkHGsrFAXe= jBVrGD4n5iW1VMRV1Bj-2F65E-2Bb39FRPahde3DgOL2B7HZBXdZW-2BtMbDjKs4M8Eri" styl= e=3D"color: #1D5080;" test=3D"">Read the report</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>The fierce takeover battle for GLP-1 drugmaker Metsera</b> was final= ly won by Pfizer late Friday. The $10 billion price tag makes it the larges= t VC-backed exit in the weight loss drug space. <a href=3D"https://url6380.= news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM= 7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT151DyvpYHx37jfoy-2BC6PM6Ig-3D-3D3y_x_Pr966k= nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2= Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV= 6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ= 6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BE= DZEDg9e5nnrLu-2FcWtbEpQZJ6RTHKBln4QirUdu3bpiglfYPwJADe8I6qGOBsndaLe-2Bfe4Nu= p13CdA7rT9cC3jH63Cb8wnLkEvJoOKY6gvtLf-2FY0JUxMypBd9PyErDKXKI9t6RTNESDMp4kvM= qKXRSLjCJ2HmLDwmRdGXLx6IKDA0TFq5SYiwxy9TvbN2LoZuYoLYd4hZz71QGBh961KQdMRTNq2= 3KfBWaf27y-2BbAtalMFhqqIeR1ITM3LhkE-2FHGtTWFr-2Ff9vPhrQROuB3EkjmGlUbbQ-2F9H= v7BO" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>Check out t= he list</b></a><br><br> =E2=80=A2 <b>VC funding for the supply chain= tech industry surged in Q3</b>=E2=80=94rising 26% quarter-over-quarter to = $3 billion, as AI spurred investor confidence. <a href=3D"https://url6380.n= ews.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7= ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15h9RFuXZLw7nLD1GrON0lJw-3D-3DwcLA_Pr966knua= Hmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-= 2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N4= 1XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6Ck= YxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZE= Dg9e5nnrLt80SHVtNIevmVukcx1j1XehRuC-2BcMXhpmBZia1kM4-2Fagj6EkXF4d33E4iSH2uA= 82x0jgSgRKLWrgaFdyVnqBlzV7Cm5qsMvOWePRvE6CEBUvVgre3ALplUgL6toAWl5A6HwmRKUP8= 0puevrDM3mCixysxvqguA8VSQevMOMfTS-2BgOUIjGI15DLccU-2B0nUYuv5jTXeys296EDbuiS= Na-2FG-2BGwtwtxxnaBNbEWPPlSpo-2BQQ0jUVSe-2Bth4Y5lmb718LOo9rmMjSzg5GBrEWE7PP= iPU" style=3D"color: #1D5080;" test=3D"" universal=3D"true"><b>See what els= e our analysts discovered</b></a><br><br> =E2=80=A2 <b>Just out: Our Q3 valuations dat= a for public companies</b> in the healthtech sector sector. <a href=3D"http= s://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWI= rf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15GNKPCco9V1tNtjG2tUWneA-3D-3DE= lNy_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchc= yDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMM= D-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B= 6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuo= GmJMTm-2BEDZEDg9e5nnrLtUjPZjvISNvJr41qzXTRbin1-2FS8VAluQ-2FsvbOFYBniFM-2BPp= VB75Cd6UoDNaBw0BfR3Gzx0BhYNrO-2FIqjWtF8CeosNrFGy-2Bqe199vHLyyO-2FjxKT56zZnq= qv1X1xCKu5NVnKKyPeWf8bSqVIFt8OQomlSXqthIp0tVarLnB-2BkD28SwIsPsY-2BV1vN5dNRu= EHNh7K88GutlBcA7wbADidAx9CAj8vts8onRSMVbPsWv5CiM-2BHMexXK5-2Bpdi6wKm-2FnIul= Q8lM3DKotILsVlfIgbE-2F8u" style=3D"color: #1D5080;" test=3D"" universal=3D"= true"><b>Get our analysts' report today</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_574535" id=3D"n_574535" 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;"> European PE fund returns overt= ake US peers </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 = Emily Lai, Private Equity Reporter</i><br><br> European PE funds recorded the best performa= nce among all regions in the most-recent returns data, overtaking US vehicl= es.<br><br> According to PitchBook's latest Global Fund = Performance Report, European PE funds recorded a 9.1% rolling one-year hori= zon IRR in Q1 2025, while the US reported 7.7%.</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-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15CY3aeDbLv= qy1auak7dnZJg-3D-3DXbba_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK= 7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQao= dBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMy= qqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLu2lyLSDKGRyTqwsdjExHi8dqSoW907duX= sn1xiIQRvH1MXqCFK-2BxWdTqphhll1TgnYJeDytD6655KFFybNkHspBcOhWLSyqYWAVXz5JozW= eWYsebT2wyGsOubgphdsNFiVunwP8jsDerc7WsLyrUnFrNtLnDaS-2FRfodUpW6jGgIzHCiq-2F= cStqfyg6j9xQHV2SGvdbv1XSX4RcFxw47QuALq-2Bf8wWY23qoo2tX0KerB010volV2a6-2FmRA= 57UBF9MdlYZ1Qjfj1PvjaeTSklDCPl" universal=3D"true"> <img align=3D"center" a= lt=3D"" src=3D"https://img.pitchbook.com/news/71293.png" style=3D"border: n= one; max-width: 420px;"> </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">The ne= w data reversed the trend from the previous five quarters, during which US = funds consistently outperformed their European counterparts. The largest di= sparity was seen in Q1 2024, when US funds posted a 9.4% IRR, while Europea= n funds achieved only a 5.5% return.<br><br> Part of the reason lies in the different pac= e of monetary easing in the two regions.<br><br> The European Central Bank has cut rates eigh= t times since January 2024, while the Federal Reserve has lowered them five= times over the period. The cheaper borrowing costs helped boost deal and e= xit activity, thereby improving PE returns.<br><br> The consistently lower valuations in Europe,= compared with those in North America, also attracted investors to look acr= oss the pond.<br><br> Globally, vehicles that raised between $250 = million and $500 million performed best in Q1, showing a 9.7% IRR. It was t= he only size bucket to see improved performance, due in part to the relativ= e nimbleness of capital deployment and lower debt dependence.<br><br> This represents a shift from the previous th= ree quarters, during which funds under $250 million performed better on ave= rage.<br><br> Overall, PE funds globally posted a 7.5% IRR= in Q1. But a short-term negative return of -1% in Q2 is anticipated, as ma= croeconomic volatility remains a significant headwind. This could potential= ly be turned around by the strong dealmaking in Q3 and further rate-cut exp= ectations from the Federal Reserve.</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-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15CY3aeDbLvqy1auak7dnZJg-3D-3D1= PKd_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchc= yDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMM= D-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B= 6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuo= GmJMTm-2BEDZEDg9e5nnrLvR-2BaiWVXufTgmFswFCb-2FxIhSCkxR3IlmJwmtKbxOGuG4KB9T9= aoRY3ncKVy051sMUn9fFTBXWeG-2BgfkDtKYJCJeQuXQx-2BNu2d5-2B1q8KGOoFOaSzJHzFn1I= d-2Fc4zA-2BTh7GPwCTYoe0Xqwb-2FQ-2F7sWs4qy89kFpQHcSfYcgyV0gjXeG3TZs9ma8hRf6H= MipXZon0b11oHoDzcCiIp3Gan9fM2ZGGLAqqZigLgnLmklbi490gkUI6mufgooFbDDfQhgNB0U1= KIwwDglrGjM3vU-2BsBj" style=3D"font-family: Roboto, Arial, sans-serif; font= -size: 18px; text-decoration: none; color: black; padding-left: 3px" target= =3D"_blank" universal=3D"true">Share this article<img height=3D"24" src=3D"= https://fonts.pitchbook.com/newsletter/arrow-right.png" style=3D"vertical-a= lign: 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-2BaqM7ONnvsnswouzVEHBjBR1XUVnrH= cFCcaT15rHmLp8FWJVjT7lMtvZNu-2Fw-3D-3DNWAK_Pr966knuaHmaw6c7pKvB-2BCEiDnj5Uw= lJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noe= eZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5= pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxC= QBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLuFYrIfvtMBEeFb= vW0hHXJcuSX2N00xYi3Ai1ta3ONwm2sNz8OrjxQI-2B14tUhA973Gnt0hUCzn8Jp4EwojthLCtB= rU6ZgdGgAf0qq3HpQR2FHveDgOeDV6hpq0fvDxz2j16VZDY1sn0CHjF3l3XhSejrsmLoDiNYR9D= 9q7X2wtoGgnj8-2BPETk-2F584u9juSw441Ud9Cm7zwq8UIeduumfTuF4hUz6AbwBS9FBou2lPp= h62bXN3qvRZSydY8ziZDztl-2BbIrm-2BW7qTeqbWYgrAqTkt" style=3D"color: #1D5080;= " test=3D"" universal=3D"true">Q1 2025 Global Fund Performance Report (with= preliminary Q2 2025 data)</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>OpenAI won't receive government= funding to build its data centers.</b> Though the company has spoken to th= e US government about federal loan guarantees for chip factories, CEO Sam A= ltman said OpenAI doesn't believe in taking taxpayer money for private data= center projects. [<a href=3D"https://url6380.news.pitchbook.com/ls/click?u= pn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT1= 5iNi7rakbYwErRZc7B8iHdA-3D-3Dq0G2_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-= 2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nn= fI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F= 8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75= OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLtB-2BYIBW88k61vZGet-2Bk= 9mKw3Ygvq-2BOsiR9TbnOeuRejZPFd5C-2BclWF5kzfxR8JdU26fsf0OiGxFOEjX-2FZcPyIl-2= BizRhriUyUPGP0xbBGtktSc2j8US6XMNEvy1qf2eaaVxXrMbt7bCo9Bjfq6MvKy8GrrZwy3ls6s= GSvPvMROWT7Ez-2FvnmTJkXq9-2Fe2005JhN8wNeKLh3IrI75GBGitPZA97gyCLMlHMZbnZbxx4= sLA6OTn10eK-2F8SsP9Q23Nx5Qncx3lqreAIePGrS9bS1A-2BD" style=3D"color: #1D5080= ;" test=3D"">Reuters</a>]<br><br> =E2=80=A2 <b>Starbucks' bear cup demonstrate= d the strength of "little treats" culture even during economic uncertainty.= </b> The unexpected drama over the "Bearista" cup showed consumers' desire = to have special items despite the US heading toward a K-shaped economy. [<a= href=3D"https://url6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVEHBjBR1XUVnrHcFCcaT15xNCPQCZCqyMexyOwibYu= mg-3D-3DyV38_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UY= A68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGi= vEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39= LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPO= MvRwbccuoGmJMTm-2BEDZEDg9e5nnrLuMHDTpY5xUYCCIFqe5-2FGFwt1gwGiZk6dSiLxeQQ84W= o9xWwPR8foACvbFBEmYtO9Um1E-2FfCEVmfhyi2Kb76S89yEYyrmiNle-2FOH1aSVB7GoDz9M6I= 1rsFM7Pj0pNVSYL4uEQJVZ7BQMayhZAQdy8EPGyQg-2FpfmI5HYV-2FbZHSRMR0wBlAqQGo44Q2= Dd98SKcjYNPME-2F5kaT-2FHCN-2BroB1y7M2tfljDmEW3jTO1BrMG59vn-2Fpu0OAjNwhfnwtU= -2BT1oz-2F-2BPxL-2BnCMiDKyWJnPwEjZU" style=3D"color: #1D5080;" test=3D"">Fo= rtune</a>]<br><br> =E2=80=A2 <b>Samsung wants to enter the worl= d of American consumer finance.</b> The Korean company is working with Barc= lays to launch its first US credit card. [<a href=3D"https://url6380.news.p= itchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzVEHBjBR1XUVnrHcFCcaT15NR1EfXugE-2BQ0zNTGxv1VEA-3D-3DXuuC_Pr966knuaHmaw6c7= pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5Zj= oxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-= 2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG= 1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nn= rLvD9srpILegyczjovKq1wVoRcIo64OZhxNhkmiEF8q4OPWYsgW2NX-2B3risGVdp6n-2FbvwqB= qf64PmkB8pb7UE0L60JYZAIRmm-2FiSpRsAWBtCCHp8ETaLnSsefLeIGHqELHWjpINghJTIQizL= BDILa59jXJoG1rD8XN5lx5Njt2-2Fh8gX8-2FtyQEzbLMUlDY5nhXnjVTNVNvxUAMgwe-2FTGWr= 4pVatfGEgAP-2BapOSQmy2nFgYfqJxsrv9E2O-2B4Br0XwLO-2FGy9LVWufZIB8D-2Bv99Pc2WM= " style=3D"color: #1D5080;" test=3D"">The Wall Street Journal</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 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-2BaqM7ONnvsnswouzXkyEMbq6erChkJ8T0SICoSVSookWIICS74ojhwI4ODyA-3D-3D_ow= W_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyD= Yb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-= 2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6k= gbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGm= 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<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: 26px 57.2px 37.3px 57.2px; white-space: nowrap;">Si= nce 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: 24%= ; min-width: 24%; 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;"> 60 </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:= 24%; width: 24%; 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;"> 168 </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: 24%= ; min-width: 24%; 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;"> 84 </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: 23%= ; min-width: 23%; 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;"> 4 </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: 0 133px= 13.3px 133px;"><!--[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/products/= platform" 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-2BaqM7ONnvsnswouzXkyEMbq6erChkJ8T0SICoSxxoOEFOlaeGId48sckiLOw-3D-3DYGg= F_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyD= Yb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-= 2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6k= gbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGm= JMTm-2BEDZEDg9e5nnrLvTgvhV-2BagF1ECaOcVcChGyL6WACc0efmsNFeGhlXxJ9IaHYv4iRK-= 2BgBHmDJYF-2B8PlRId3vQ3JS0I8PNuS04UHSatwHTGgNMK0GTttWpn8p6Y-2FUVL0sTT5leRGK= HpvCPEqZSjmYrFx5MotrWb1NVTvK8TXLgXgoP9v8fe34jGM-2Bgd5fkYFN5M5UlNMlJskpO1OBP= RakaBqybPt3YviHgwFw2Uq5HkuWhG1mX3W7hlbUA4nrwk-2BEqIyYKS4laOsesCnIBo5vvCvKnz= 47gSPAb-2Bzq" 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;"> 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> <td style=3D"width: 20px; min-width: 20px;"></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_574534" id=3D"n_574534" 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: 2016 Vint= age European VC 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: 40.25903939557474%; mi= n-width: 40.25903939557474%; max-width: 40.25903939557474%; 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">14.92%</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">37.06%</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;"> 1.37x </div> <div style=3D"font-family: Roboto, Arial, san= s-serif; color: #000000; font-size: 16px; font-weight: 24px; padding: 0 0 3= 0px 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= swouzXkyEMbq6erChkJ8T0SICoSyaK8v9M8spo2n3I9SWARlQ-3D-3DspIe_Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5Z= joxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i= -2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQO= G1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5n= nrLudE-2BrRkcIP556y-2Bjgsvj9TThy53A8X0X97iuXsZ9cmk5a9LjdfnQnLieJS-2FxYHdQhh= Tuys8Kd7FoNLMO2XbjrF7yWX5ijrYvsbaSmaFJ9XFdzi8sF0jVYXNSRIgT3MATbf8lkGOwN3VLl= A4fvf-2FYk6T3mAxSw69G4m6vhTgFcs3y-2F-2Ffyp9MhnOaz9rfXFLRndvdI7AEuYknqZXnAuH= MdxajN4nytuVkdGd4A7R-2FNcfA1iENRfNg4c5yoS7RV2pPUi0Tstm-2BECVA0AuRQh8ZaUL" s= tyle=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"t= rue">Bridgepoint Development Capital 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= swouzXkyEMbq6erChkJ8T0SICoSMRXAczN7xV6-2BsOW2HPLt9A-3D-3DinB3_Pr966knuaHmaw= 6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE= 5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY= 8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxez= QOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e= 5nnrLvCvHL3LKek2VDy47f8Ue4DPyEz2RasFqlLq6S4Ii1H4vlz9ERL03OZZPt6UF-2BmVtLtMv= S6e7N3ws6xc9H7v0mgZpo9t8fFeG-2BZl1TYyuryLotBUQpPuNUa88jt7qCNaXz28HQsZ8d28VV= oM4j6sdHmob-2BNJBLj4Ib16Zzxxk4ZVrBOubKRa6cR7RO-2F5T-2BMbc0q13JkzEKDXK1kzLn-= 2FGfvMMOOHf8Y1GzmQJtdCpbTYC-2FBIt8e834hFO4iMcJ7w65ClCUzaMJswhZ8XjOjlxrnR" s= tyle=3D"font-size: 14px; line-height: 24px; color: #1D5080;" universal=3D"t= rue">VIA Equity Fond 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= swouzXkyEMbq6erChkJ8T0SICoSYkaDGm08TudFyUIWzrIPgQ-3D-3DR_2I_Pr966knuaHmaw6c= 7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5Z= joxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i= -2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQO= G1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5n= nrLtAaGmuhgsc-2BmhWXZ6aL0-2FhPDuJcy-2ByIueSzG6v6sGO2Y5DftFaK7fGOEffY8-2FgDA= APKuVPicijxThD04B7rl1THxo-2FSDEcqQRRPVEkUN1rmc6EJYvNx7XsbLFInQ-2FHaUoRgJ-2B= 2kXVU5lbO8dBLpTCB-2FYFVjhFuJEk7ZN09fdnhFi-2BCZcMP-2FAN5X7QhXAPedp-2FtMx2R8b= TvXsy6zRroxo1PigNSCZhEhMtTEtN2TnYwguBCDrsqSe0UH84G-2FeJFJMSvxZyK8lc7WR6s-2F= 8hj6Gie" style=3D"font-size: 14px; line-height: 24px; color: #1D5080;" univ= ersal=3D"true">Compass Partners Investments 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-2BaqM7ONnvsnswouzXkyEMbq6erChkJ8T0SICoSuSpIQc= 4jKDGQrXvWxw9fFw-3D-3DvftO_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4Bi= QVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1= CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWI= QaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8= uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLsEOUpVTa-2BCCQU-2BFrUul3IT6up5= otwngca57fMCFSJh-2BqYTkVrSqFArIvZ0HyGzwA3pe9QpQzg846-2BcWs9wxBTez5NckF9hL2v= UqG6qtvy0-2Bfeyv4dYIYA974xSP3iqtoWyxPbt-2By5TryvU6Xse58bRp-2BezRIU7ogq-2Fno= Pfka-2BVs5dKLWS9aMf8Ls1esX-2BsN8goZOnN-2F6f21SmiMwPNwBprDY4o8XaocMdTtBTcei6= TLwIDgHxjnt-2FE5MER8ZEJ5s4LyST2PFf8CBmBgqm4qXP3" style=3D"font-family: Robo= to, Arial, sans-serif; color: #1D5080; font-size: 14px; font-weight: 700; l= ine-height: 24px;" universal=3D"true">28 Funds in Benchmark =C2=BB </a= ></td> </tr> </tbody> </table> <table border=3D"0" cellpadding=3D"0" cellspacing= =3D"0" lang=3D"x-content-area" style=3D"width: 100%; min-width: 100%; "> <tbody> <tr> <td> <table border=3D"0" cellpadding=3D"0" cellspa= cing=3D"0" lang=3D"x-content-area-main" style=3D"width: 100%; min-width: 10= 0%"> <tbody> <tr> <td align=3D"left" style=3D"padding-bottom: 2= 0px; font-family: Roboto, Arial, sans-serif; color: #000000; font-size: 14px; line-height: 22px;" valign=3D"top">Check = out the latest version of <b><a href=3D"https://url6380.news.pitchbook.com/= uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXkyEMbq= 6erChkJ8T0SICoS0no-2FkHL7L22rdbS-2FDUl6hA-3D-3DK2Jd_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90= UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7= UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FP= WLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLtR9bp= jLsQxs6jAxfcsPfXGWUEz56UB5WpjBwoALF5uwx-2FZvSzlW-2Fl1psnEsbhqaMXYZO0OOJ-2FE= sE8q4bpBqmxSaabTE5Zr3fwnnSAAygxbzQNZI985v27I4iRWSTmDNH3yo80lZoIujzHKrIShvlM= 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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">Busine= ss insights platform developer <b><a href=3D"https://url6380.news.pitchbook= .com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXk= yEMbq6erChkJ8T0SICoStpMTfJI-2B0K65mmP-2FuBqg4g-3D-3DDUIi_Pr966knuaHmaw6c7pK= vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5Zjox= zFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2F= fycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1u= u-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrL= t7qbyOMSYIKG8CgZSJyRXeE-2FR-2Bp-2FdfVM6tTA6DSt-2FUzLmEMXC9kWRIXzOtSkg-2Fa6E= uJCDkVA1sWOkUaA27ZtMLlk9aeexz0Y4AnwT7z7W-2B-2FBjOjwJN7bX-2B3EDQIq4bwRoYkrcz= b-2BOrlioYenSMx01AoW4fFkgg-2FBRBdP8O-2FIflmBXRo1BRFP1XMES5CVv4nG3CsVcPm8mHH= NLUkYfmW4-2F5t5Ieb9UsI8jetUFEOSZ4Xn-2FD0DT-2FEmByzk1ZizqiiL3Mb2Qrv7gRtdyacr= ug3eGE" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Aily Labs</a= ></b> secured $80 million in a round led by <a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzXkyEMbq6erChkJ8T0SICoSlB8G89jThg6hfN-2FRsGn6Tg-3D-3Duxcg_Pr966knuaH= maw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2= BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41= XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkY= xezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZED= g9e5nnrLtKE0Y85EShLMfUETkIosmNPL9wJO5XfBE9cb3jb9SOFyFuWBUEzTek8D4EZx4KmqZAV= PGuh7AZNI8wSQR7fNAnnErcIeTIhn-2BlP2iJpBYBzkFJTlo-2FWkuwNitZX0iGuKQLROiGN-2F= JskpXqhEIi2LtFsbWfkKi0bfE-2Flj3uDW4w-2BD9cUwIXWUZU0BmRVBkwXjqoTnWiUdF3inj4X= oHxkxVbi2sfzseQRUpPAdCchA-2FOg1FnNC0Fcs6pQRcep99W2rchG-2BThk5m2PjmWK04pHRc8= " style=3D"color: #1D5080;" test=3D"" universal=3D"true">FPV Ventures</a>.<= br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3D= 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AA69XvezP2mpgdr40V1pf4D18Ca2WfZNR-2F9-2BWh1rWJB4XfMe4Wxa7ifBrAGdgiu0nVzQMHA= -2Fmc7eGWkLJGb6F7sKffmzMet5QLOfbRp1sS-2BpP9IJNIhnuLRFq9qNq-2FpcD49CX7yyQlYi= VXZuCkIIoY-2FohYoh0zyBRImnbbf-2FoaUqp" style=3D"color: #1D5080;" test=3D"" = universal=3D"true">MIH Investments</a> bought <a href=3D"https://url6380.ne= ws.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7O= NnvsnswouzV9sdsXZQ4G3S18lyk-2FMDlbrbfFsZ8wO04qGDQVNd9Tgw-3D-3DC-wX_Pr966knu= aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr= -2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N= 41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6C= kYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZ= EDg9e5nnrLvY8IMpHQjTgEkWcFmzo82SRpZ-2BNxaEZ6NxS3guUNOaUC0H-2BvznzhAubPXaO9O= 6PB0vXNOuqZvlxUTvdQQl-2FX3XdlOsI2g5LzX2itXqZmuKOhUflLYIPgd0LQfaLwuzUMKWOmLJ= aOtjVmvLjZahWv-2BzeRa8b0XVdrLWJwPe4grncrHwuiYYJRujKGVCTLtEdBJmfEy-2FYlCbGPE= Yc99DmDfLaaJBSR4K8T6wbErwf1c3bHetXkMBgHGbqzV3icdPsVOc3gRlIoemYEcSCm-2B0S8aV= " style=3D"color: #1D5080;" test=3D"" universal=3D"true">TVS Motor</a>'s st= ake in Indian ride-hailing startup <b><a href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzV9sdsXZQ4G3S18lyk-2FMDlbQXeqVFnBbcsoNl1EDRn-2B6Q-3D-3DRtR-_Pr966knuaHmaw6= c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5= ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8= i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQ= OG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5= nnrLtgCSDs3GCiYc7yu1Imqr4Z7vFaXHZM-2BFw8kiS5et3aeR5ByKfisyfiKBWVmukrNnWLMp0= t8xPC3Khp1F3-2FyjkZIwxO7-2FoMEejUdtcRfHcFyftSMxRI40otMlqUSbqRYbTqqyoWKzsp9h= 5bSId-2Fh2PwCPR7ieP0BsscljJ7lX9yMrVxs7x41DJDtUdl6hfhT7U5IA1iurhXBLTLRoiDL5g= Q6i-2Bj0JKbnvuGRTkeyGqN3y-2F6F51LzORujdvYyMll26GO0w6Jtq5cSWdH8036DLpV" styl= e=3D"color: #1D5080;" test=3D"" universal=3D"true">Rapido</a></b> for 2.9 b= illion Indian rupees (about $32 million).<br><br> Biotech startup <b><a href=3D"https://url638= 0.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba= qM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSIkSWzprA1aXxD2CmrmaYxg-3D-3DvfuI_Pr966k= nuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2= Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV= 6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ= 6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BE= DZEDg9e5nnrLvLDXD60JfKTMiFFxbWSOaCtC-2FHYlj-2FKWddfH4wGkH5tKXLIPf4tIWFEY8gI= Q2i7I-2FnGREKNKgsHWiUX1nX4WeT7MglUSt0GXvRPgqM3XPmc17maU4A1Y7KDyKryX1rS2CwqO= yre-2F5RB3zCIVmTktQ5AAE6g8lF8rDcRg-2F7x834b4G1Jy5x7cK-2FP6fw-2FvbjVEwAEYx5R= e0hFZa3uRsriqziN1Lxa0H64uzn5d2jm-2FpNGfJnt-2B7Fhz6SamlypTvwKVQM-2Fx5iguhUQX= wJFfMfqsk7" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Onchille= s Pharma</a></b>, which focuses on biologic treatments for cancer, received= $25 million in a Series A1.<br><br><b><a href=3D"https://url6380.news.pitc= hbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnsw= ouzVU1b3gRualxwhzwc2zFBPST8o90yOrIrWa8Iq2GTfSyA-3D-3DbGmI_Pr966knuaHmaw6c7p= KvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5Zjo= xzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2= Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1= uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnr= LvoA62N4-2FEkl84VnVfEB6gAoz5oMY5Pn9Le9HsprUC-2FKh4v7OvPYTGwltQsaD5-2BYtRw8s= WqUudUHVc25gksh1AT7qikEECgbOT6mLwUq56tW5MTjUhWG-2BSpXK-2B2-2F4YmOyJC1pHDcAb= bzPnKDHICMHM13YFQ3RJQOkNWdPQWzEanotwxR-2BoAioBrJeHtXCbL1II-2FvtQVc1W-2Fwehd= FyVZlWbZYh4nnJRYVq-2FptrWY2jfbLgC0WN7-2BS8SKTpmPa3TpFM-2FGcioIAs7x37N11639y= nVs" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Amae Health</a>= </b>, the operator of clinics and a platform for severe mental illness trea= tment, raised a $25 million Series B led by <a href=3D"https://url6380.news= .pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONn= vsnswouzVU1b3gRualxwhzwc2zFBPS95YdB-2FG90noXWQ7bR-2B5UbQ-3D-3DVWBr_Pr966knu= aHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr= -2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N= 41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6C= kYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZ= EDg9e5nnrLvU5WESMWzYHwlj9pV-2Bqy-2BGw97BqY0HiWGZMC9x7UPrJ57kp1OOGDddhjFHm65= OcOhFVOBspZ6v0SobIueXlQ8ecGv93-2BLv1GzTRewDfbGOlYTfB3dbUnCkMyqB99Ry91OPdn4A= ngnDeVTg8kJelKkbWu7EQIoADzGo4PmWlEW8Ej18I-2BnYBA9hjPOMcGn5maOpwCY6RCBqHghtL= 7NyeAnNb21IfqS7mh4JdZIlczDyrwbb35aA-2FrPzONrvW91zFnpPOzGBLucSUFPFzawn6znq" = style=3D"color: #1D5080;" test=3D"" universal=3D"true">Altos Ventures</a>.<= br><br><b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3D= u001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSy6P0= 4rlEoeejYKnspnsLjw-3D-3DZT0Q_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4= BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RM= Z1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbL= WIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuY= b8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLuLytTXqVcQA4-2FjKzQiCRCA89eg= R7MJj-2FUt6Q2kNywTXoBMolM1IUFXdS3QpEdb7GzNRQqktR0DTN-2BhIQtk5OJCsZFjeZkH0tz= cVYzxrPCeDqK79irmIl7WQrGDZZc3iBrvcS9-2F4BX-2BykTi2bZsJUgRwvRJ0yeaVeiVewqTmb= QNGd0naq-2BjwF1k-2BTb2shL4CWP9BBM6XV4q5y33MLuBPywX3TUxek9ArjRQ5H3P-2BTwHUld= 5cjMHkJGcFfahy6T-2BPK0xkhzbxoG6JLTbEuaaV61k" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Lumonus</a></b>, a Sydney-based oncology workflow = automation startup, raised a A$25 million (about $16.3 million) Series B le= d by <a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.= d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSNySaUY750= LWc6qgHWlIPlA-3D-3DnEfL_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI= 43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK= 7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQao= dBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMy= qqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLs6gNkC2b-2Bn16n875hi839hnnEb7267C= qG9w1bEjV9owfFvZG-2FIebImgB9lZAR6Z56ZBPmb1AQREVwrvJBy1l97hbS3CcBfMB8ItG0haC= Yg7f13dXXhfOfedaWCbdEo-2Fa67XLCbzt9w3VnFaya5BHEAkuvpAWTPBJ6At0bGehdopJlMqLA= fZ1v1G46mJmv8OER8JZKpmi8cud9vQWA5nYedsz-2BSCaCh-2BGCaMe7Rq0XTc0p1InxdWqhxcj= RYlXGBSzQPuPx1cMhBoJnH4tTioix4" style=3D"color: #1D5080;" test=3D"" univers= al=3D"true">Aviron Investment Management</a>.<br><br><b><a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSNhQC6rxAQFv0Azu-2BRY7PGg-3D-3DWWA= H_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyD= Yb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-= 2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6k= gbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGm= JMTm-2BEDZEDg9e5nnrLsh3rSJHOj7vgD5V3QT5VGO05BECxTQBGhpo7FPSZmkNPQ4TCF4WS505= iltv4Tx-2FwZHHlY4H-2BR4m6-2FqZmhPwSvFbGrQ1c-2BS9ighDRNRrbmuhbzUxbONZct8jeB2= IcIYlaHRf-2FB-2Bk5-2BBDEhJNm1DK7E4gdUHDpVQbRdh7Wie4afp1zPWniPOH2XOwwehhmk9O= z0xgoEHTzUJokyg6JHFdAGIG-2F3HDvBi5QTZLkxcHdycXJLZpnJt-2FJQzk9n2H5Y6B5E3LlOa= WGOygCIG95TWRQKE" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Ac= cipiter Biosciences</a></b>, which develops biologic drugs, received $12.7 = million in a seed round led by <a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3= gRualxwhzwc2zFBPS6jP-2BQzhMMDwqD199ZDQOQA-3D-3DBtWw_Pr966knuaHmaw6c7pKvB-2B= CEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90= UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7= UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FP= WLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLuTMFi= yw9nDNhGSGDjjNgb-2BdFGQMj1MPA0fpwtiRHDQ6531rLry2ethNXEIH9fr2Pa0FSalBJzF1PtU= d-2FrWKmr-2BxfYMq69U9STeXeXe4JtFb-2B9xzegRaVPNkq8mon4iam22aEvnu8xu0SU5pg1Sr= CygSq0uCpH9wDx-2FmCVMzWd-2BdXJAQ-2BEp8NBtf03K9TsMX0JqTP09xnWdNklkDRmwxzsDua= VL-2B4b-2Bvw65IH1APmlkIMwKFuGGxFW6AR4HElEXyaXIhcQMHXKYQw799H7TtosZ" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Takeda</a> and <a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzVU1b3gRualxwhzwc2zFBPSLzCcbMwllZ1En1Cwc7OXow-3= 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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/ls/click?upn=3Du001.d4n7= 3BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNa9eHyLiN9Di-2= F1PaiqQRW5A-3D-3D4a_X_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43= kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7i= z5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodB= RWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqq= N0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLsXXfKKyouCRBKo8OhMjFsYvYY9KXs0RYmLm= IPmB4UXvFUbV2LhJfsw-2BgG5P8OzCY-2FV3a5mWfZNIiQrGknL7amhcgHwcJ-2Fr3XYetQXYXz= V9uC9SyW5sxo3EMJCTB9-2FrXCINBGELKyEGx25d8bq1hD0l5sZwmqQOdMm28MYH-2FIYaaemUT= Y5-2FvL0svuI5OUV3Knvq9691jA-2BBIpi5vQhf-2Fk3i1EepgO3-2BnLwjQi9tmGJJ7hiwlhco= 1oLoXruCDmrz-2BuLDrLOQSoY-2B8xyt2LTHS9ij"> <img align=3D"middle" alt=3D"" s= rc=3D"https://img.pitchbook.com/news/71124.png" style=3D"border: none; max-= width: 420px;"> </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">Althou= gh VC-backed IPOs gained considerable momentum in Q3, liquidity remains a c= hallenge and the pressure to return capital to investors continues to build= . AI has driven dealmaking and a narrative of venture rebound, but nearly a= ll other verticals continue to experience stagnation and further dealmaking= declines.<br><br> In this webinar, experts from PitchBook, NVC= A, J.P. Morgan, Dentons, and EisnerAmper will discuss findings from the <a = href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX= 4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvN74aqDXHe35gQLGWKR= KZbQA-3D-3Dw_dd_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44= sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6= A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFVi= CPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLsOFMKv6Jfg5qLZ6s8zs3VhY3T-2FmDqyDBDuX4Tb8= swdXG8ygTgKRGLnaTdvT2T9bCeCwa9bl3le1KF3S0vfnENuLQZYECQDh-2FI1-2FBS-2B90aTDt= u2qVy-2FaiaycJiB04TSHw7Hz6WmAIxtND1wDhpFWG1GKuxfVH6H7JyPRs7zwqonZXC-2BhPBWj= pnUpqpO0MFGHqs-2FTUZdS5hLm5RzQXAC6cOzM8dedwF3Y927ToyvPrv6qpGX9Xk807cZKlpFDa= CuB5AJRmbOKwPTv-2BBccooeAQ5N" style=3D"color: #1D5080;" test=3D"" universal= =3D"true">Q3 2025 PitchBook-NVCA Venture Monitor</a>, current VC trends and= how upcoming headwinds may affect the market.<br><br><a href=3D"https://ur= l6380.news.pitchbook.com/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2Ba= qM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNa9eHyLiN9Di-2F1PaiqQRW5A-3D-3DM4fj_Pr96= 6knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv= -2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2= hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7= yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2= BEDZEDg9e5nnrLsdpdCtDI9zvDolZ6vPz1cEH5ErZrmpxLCp8Lf8DI2zbM2htpewFfd49Zxlvpi= U0R4dn6QqUS1pwCIw6EeyHKsPefF2HHxyhCAzALs9IjufwuPXT6V8ifhvfzvuGW99fKTwnL3-2B= IrsC5UIoBhfCb4l-2BFmAIlamOQ6KjRqvNS9PxB-2FYMp2WPTnr5hDGncY4Ym9orIRlyNp3AW-2= BSfJF5toVAur40dDftmNTIALv10NfHa6VRLdcO-2Fgoo2Dxoic10ssU6nCbibbnfIZj6nhj6wcT= b1" style=3D"color: #1D5080;" test=3D""><b>Register now to secure your spot= .</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>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"><a hre= f=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cu= ylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNH9tkZbtdJFoleYb0b1-2= BPmA-3D-3DbU6b_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8= UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44s= GivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A= 39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViC= POMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLtlUdrnjJPdlbWn2zzv-2FBlcIdcKwyt8uFbk4DqN0V= 1VtsaZ-2FgxU3XXl7EP3vnsa97um-2BkbxJ96ZjBjj5Q9W-2Ft0OKtKcPdTgfWuYbUNCWQahRl7= g0Z7jYycfYTjcvNjSm3XhwKJi1OvtZm8fFpHyhPsUibGto2HDRJTsHx39dj1ncM-2BdW0Koyn35= DOFeJ8YUjBvDo6yHi6NPHZ63dMhUk9ba4zZuuER2hmhBBH4EYXpPwQ0UAw5KXQW0u9CkTbWekze= fjxV0nbuPe5VGebpGOZnO" style=3D"color: #1D5080;" test=3D"" universal=3D"tru= e">TPG</a> offered =E2=82=AC1 billion to acquire Milan-listed <b><a href=3D= "https://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7= SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNGDV8JIJmK-2Fivg-2FV5vaO3= IA-3D-3DL1lp_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UY= A68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGi= vEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39= LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPO= MvRwbccuoGmJMTm-2BEDZEDg9e5nnrLvR9UoE75zAuOnmM-2FrqiuKt4IMnumKaZfTsAyXCBFl-= 2FbiC0VYYKqa2Vr9q7L2a-2FGTSHeAp8gzz-2Fo2ZusnYcxwt25G8L4YhlF3MxXwPan3fZwEP2a= VxTIBhC39hk025QGk78uL-2FrwV3JszqvnLH-2Fw3qAI1c-2FXkIHILCK48mIPJPYSwWWge8dNT= LtV8Wp8S-2Fa0-2BawOwu80WYZhCiClQkg9EAN-2F-2Fp7SkBOdGG6vlaHO5vFKrSBVFYr7NC7N= ZplsNrYUFhrb2k3D4QI7YRyN2r2j1U3" style=3D"color: #1D5080;" test=3D"" univer= sal=3D"true">Nexi</a></b>'s digital banking business.<br><br><a href=3D"htt= ps://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSW= Irf6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNG0MQUQWjOr3LOtXsGwaZsQ-3D-3D= cfaV_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRch= cyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJM= MD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2= B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccu= oGmJMTm-2BEDZEDg9e5nnrLuHTsDUHtCtuvnfB5MUB1F433lO8vRdFrniRFZJsMNnS8DxPdnv-2= BfecyruOf5Ila420VPrh0KsBCDpp9GZCguVWq7OK6b2GKL4LntfMyMiI-2Bfl32si-2Fg0kLyYO= 2Bnk-2BYYfV8k0KYMlHWhPdItmXSMAOL7eGF22nCaRn0CgtP6qnxku0i1hfUOPvWF9KEQHlGCqm= Pu4QhF6iTlRR0hTxXLpGcqVzRapBoiSbfqZz7AgWYQEeHMsr6edxhK68Br6LLAXq14XVaN8Ak3d= Cy9e8sUpC" style=3D"color: #1D5080;" test=3D"" universal=3D"true">EQT</a> a= greed to invest about $930 million in South Korea-based <b><a href=3D"https= ://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr= f6GFa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNDn2MhxKqX6qCJOunVqB9cg-3D-3DMH= Xh_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcy= DYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD= -2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6= kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoG= mJMTm-2BEDZEDg9e5nnrLvkHFb5yN07xuehStEAfvgjA7fgW5LQO1Cwy5re26PPxNfW68sqQR0y= kpREHrdnX98yU2vhpcXlBmpkRMsF1A7LNJwkalh9I3M6TMhBuQ1RjDJB8gJB5WgH9GPsDKlTbuv= XmsElXhFzgInW7OTsY3pdGx54ir1dDd342iJh-2BE2MIWDPMx908rjyVQIlf58X8-2Fw19EtMPe= uonyrNtjW26EiBx5AmhJSDwjMWU7p-2FwLNYBb-2BcFKsW-2Ffm-2BTI-2FeqytnuMjS1TA91We= Ogis70AbDncyD" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Douzo= ne Bizon</a></b>, which offers enterprise resource planning software. The f= irm will acquire a 23.2% stake held by Douzone chairman <a href=3D"https://= url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6G= Fa-2BaqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNNPrX48sURoMSzTQgJ7MG-2Bg-3D-3DYKh= k_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyD= Yb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-= 2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6k= gbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGm= JMTm-2BEDZEDg9e5nnrLt2-2Fe7UetWLrHxPva9uorauAocpLbHy9SM3fVxIPVYK8AHB-2FG-2F= 3-2FzG1cK9hTHd5chZz5eiH-2BIRBZOlT2SIkJzHMig8X09MAR85-2BU3UTUBOJuyqjftOEg049= 9kf7NfVWz5QgCfQdzqoocpsf2taEkUMeO-2F-2F4vmmY6Tn0e6wR01Epm68vXsUTrmB3FfFCUx2= J1R1-2FVj-2BrHO9kUzemhzwfJgzHPlQSzegQ2C4FywOibbDPqHJR-2BuNGH928ZuiCvxKNsdXf= lA2wEgqHt-2F50BESKsJSa" style=3D"color: #1D5080;" test=3D"" universal=3D"tr= ue">Young-woo Kim</a> and 14.4% from affiliates of <a href=3D"https://url63= 80.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2B= aqM7ONnvsnswouzX51oEk6mU4DhpVVk53uUvNOLzEDP3qwDOjX-2FJEwJd7-2FQ-3D-3DQAE4_P= r966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1= zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3= sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbw= Jm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMT= m-2BEDZEDg9e5nnrLukAnhhGMSxHA42A8NszD5L1EGkRjtzkI2v9UAkWSoUjaxAsTxYLtQQTIvF= M4kH2-2FD6R6kc-2ByQCuzqvn4NBM53O62i6ajUDqoJWZZm-2F4FJrH18EaeaXyuBPRk1d3SULB= W-2Fwmy1GZJeiZJoInFL6leX1b3SIjqkC1T9RroiZrowX15FXx9gRKxHk-2B2QqAnpWPiD9-2BA= 4AnKWjy77i7tV9HGqVjgkat-2BHrmei7HW-2B-2BNgbHME1kYiJa99Sgrnsuy8x15yA8y9wQEss= sBl2dzikm39Qn" style=3D"color: #1D5080;" test=3D"" universal=3D"true">Shinh= an Financial Group</a>.<br><br><a href=3D"https://url6380.news.pitchbook.co= m/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzX51oE= k6mU4DhpVVk53uUvNETCJfMNFypxlo3atlMLfaw-3D-3DoBtA_Pr966knuaHmaw6c7pKvB-2BCE= iDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UV= GZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7Ux= gI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWL= RPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLtBwdKgA= bg6K0PY7kO-2FguKFzruqlqrmEvS6Nsei5ev4o5U0Rf0ziATDpjNpHoHiKXXkKLOqx6RdBoBeBW= T7p76JxBlZxaGNxDD-2FlsWK1j7Bls2uVFQm5vFB8Czzh1BOxsuqxrmE6PO-2F5ZGi-2Brw0ctY= T0rFTEvVcCdgHDdr1Y-2FBbCgJY6sQV99SO5JM5ua6Uto-2BGzADBYXQGwX-2B93-2F5rN-2BGf= HBj5tK1mma5B4sE1gX2u2zoWw1qZ0USAdVfdAqC-2BTQigU2N4jC1XH5GjGR1lsoZl" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Align Capital Partners</a= > acquired <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?up= n=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhf= 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A-3D-3DMGcA_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA= 68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGiv= EHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39L= vkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOM= vRwbccuoGmJMTm-2BEDZEDg9e5nnrLsK-2FmSnCC5svijjHBM3wuIDsQwQVmj5d1-2FRloEYrJ2= C6XjzZmtXwbF3QTGEIMq4cNHCTlWhZsnQbvw1g393tb-2B3sKE4tsjbq5tWXEX-2Ba8VtwdoBhU= FbpA4TGxB9FgZ-2F2G-2BBJJLW6NnmsWk29R1JBFWoUsoBhjMyzcgTxEep0My20UEfszNdDCRE0= XfYT2soBAqhuAUhy6k8uu3WjWpeP8S3lGGFyiPzYYq7uV01IFodHqv14PCBlQA6hiqsi-2FRdua= AkrGKVthra6R5XJaDU0ZJ1" style=3D"color: #1D5080;" test=3D"" universal=3D"tr= ue">NexPhase Capital</a> purchased <b><a href=3D"https://url6380.news.pitch= book.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswo= uzXAGrPZ4TWpew0YjxRyCKhfYl8QzAH1pUVKy5ZRdllPLQ-3D-3DqDwq_Pr966knuaHmaw6c7pK= vB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5Zjox= 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GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75O= yJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLswVkzar7UF4ld3Bp3Mjg9IlA= SdhqtwUW0Ddbgr-2B6nQALmOqPQ-2FUoAOBVdV685BTNvfH171sdXbtXhm16s26zrnD6AozJuwU= kEoztYvTg5-2BengW1WoNG1rZGD9R5iZFizEPStD-2FjDtrT85kxgJ1hDfOnufDvtGbCdFweYAB= wSG-2FComQ3ToAm7-2FmSLswlk5JvtGCI07By2GVaBeZJCxD9WajttfNlLjsPq6tpQhbFPRkVDw= lYUIWp6hWh4IFPiqpy-2BnWVV5vQZ4eZXtffIPLNvNx" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Gemini Investors</a>.<br><br><a href=3D"https://ur= l6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa= -2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhfAJgsB8WAnDC7C8dXu5SYbQ-3D-3DL7Oj_Pr= 966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1z= hv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3s= C2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJ= m7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm= -2BEDZEDg9e5nnrLvqzDuE4LAJq4kqfAsKwej0Vz2EGMw-2BT1sZDQunWu71uyJDDPwqqWiVuW7= 6k9ESQmAk90jQLQOie3pjsUyjr5OHGsMe3qD55y1-2FasnyJF03dc56Df4-2BFhRurnj41v8FOc= O8Hagoj1paxNLgit6UHwSeDt8qn0yd6qn4gqpeY1tb0aDZB9JtSGB5Kr8j-2FKL-2BbTtUd6Ust= T9iYdsoJ7pP9MRuQFi4ndauc26DKpUfCvZ-2FvurevieNfRmLDoVzot83pQLO2pease4e77iWk8= cFoQ9n" style=3D"color: #1D5080;" test=3D"" universal=3D"true">IK Partners<= /a> invested in France-based financial services company <b><a href=3D"https= ://url6380.news.pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIr= f6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhfw8ov30K-2Bx8DV-2BS7VluOHuA-3D-= 3D-Fo0_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVR= chcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdE= JMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF= -2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbc= cuoGmJMTm-2BEDZEDg9e5nnrLtCqbiKzApUAP2jCfjIU6Bn5Aj6DgaMP1VyyhCj06XSEjAd2b-2= 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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-2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhfG68yH728A-2B8D1hw= NpUKRaw-3D-3DfVYT_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMc= Vf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL= 44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjF= k6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VF= ViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLuV29iSVmCXg1CFMpRYENRNtLwpjB-2BvH2-2Bhg= qnmHr-2BqsWNzXbqZh9Op2swU-2FeE8WzLesDMywWx-2Fco1GrjAdYc0kbaV69rATsHMn99wMhM= BG88RW2sY-2FjuFUpIi8NCyd6cBDN-2BHc0-2FBLHobEfX9-2FpveHY083wvt8GX6yLlrSrda-2= BRk9RHdukvJda17QQZPbEK4L5mkokQZfwtBuacJRXQd5fQQmTkuXywT1oTuZwI4pH8MjI47KreT= MAVPexL1rSv8qLTvIGkv28gf-2Ft4rsLS-2BLp" style=3D"color: #1D5080;" test=3D""= universal=3D"true">Blackstone</a></b> plans to sell a portfolio of senior = housing properties that it originally acquired for $1.8 billion, The Wall S= treet Journal reported.<br><br> NYSE-listed <a href=3D"https://url6380.news.= pitchbook.com/uni/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnv= snswouzXAGrPZ4TWpew0YjxRyCKhfJHtHQ9CcCwcR7S2-2BEFnVRw-3D-3DJULm_Pr966knuaHm= aw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2B= bE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41X= WY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYx= ezQOG1uu-2FPWLRPaicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg= 9e5nnrLvtm-2F-2F2F-2BD4BBjZqwxAG7ziIwzF9gC6VEwvP2ZaQuGMLnkAw2llaUq7ZGDDDkXo= aaIUDnF-2Be4KvUQJKsBr695XmiaxeJdPAV-2F4rHc19xFIyHxGFIN85YzyekdbpX3H75ZBlIGV= Lhiiz8mwJblJN8hSITn9bkSXYmYs4nmxbI2-2F3edb3J5Z7DnLLHcQQaBtuRqdskofNlVeMEUYh= fJoFkuZHZDrXJ-2Fft-2Fi2CnC8uOkG1eJxcn3ktqh4h6PFm5u8hsx7mFXQWtp8-2FkVDXnSF34= 9Pm" style=3D"color: #1D5080;" test=3D"" universal=3D"true">NextEra Energy<= /a> is in talks to acquire <a href=3D"https://url6380.news.pitchbook.com/un= i/ls/click?upn=3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TW= pew0YjxRyCKhf67qrYWm-2Fax1pbtsZkA74OQ-3D-3DNgQ0_Pr966knuaHmaw6c7pKvB-2BCEiD= nj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZ= w0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI= 1RHk5pOgSYm-2F8GWbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRP= aicxCQBYD5VC75OyJuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLuWgRBipQU= gExrghTe3IJQVOewkXYO-2BxeN5bxE8b-2B5ReWcr7l8MwFv9o6-2FG-2FUPQGWQiMX-2B8ToQx= XdTjKqjW6ZhmdsGEPIJQyGSPD841AHxnbL9nuCAWpAHTsVAVVGXY-2BXGIPDy7ynS0UeNCnje2G= 9VZLDEvZCT4znkF8B4Pm-2FX6j3jL-2B5F24SibUyyFJNlQa9egxzB-2BbLLJor5QFB-2BA5v9L= osv42ZKsieHmsHbnIaoU6ZSNRA92odsPfki9n8-2Fih0JF1ElblPFnfiyZJDOschd5" style= =3D"color: #1D5080;" test=3D"" universal=3D"true">Energy Capital Partners</= a>-backed <b><a href=3D"https://url6380.news.pitchbook.com/uni/ls/click?upn= =3Du001.d4n73BrX4Cuylw7SpSWIrf6GFa-2BaqM7ONnvsnswouzXAGrPZ4TWpew0YjxRyCKhfd= GTXhmzYxO9b0dz0aeFV3g-3D-3DLenE_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2B= HR4BiQVI43kbMcVf8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI= 7RMZ1CdK7iz5DL44sGivEHUdEJMMD-2F3sC2hV6N41XWY8i-2Ffycw7UxgI1RHk5pOgSYm-2F8G= WbLWIQaodBRWjFk6A39LvkSMF-2B6kgbwJm7yQ6CkYxezQOG1uu-2FPWLRPaicxCQBYD5VC75Oy= JuYb8uMyqqN0VFViCPOMvRwbccuoGmJMTm-2BEDZEDg9e5nnrLtPzDOvHovbX2I2RdPA6jjXVXs= XuB6z6v-2BnAMDkLvg0o7-2BuEeMNnz0sY9wuzwo0TQ-2FhPXt8FdLWJOAepO580TPkoYIvUo-2= BgIExA4Sg6XNan2HhhYIfwZczltmrR-2F15CWqi25MYbFvgtaoR-2FLYHFxAGSBhFMGG6gYqqXC= gDJDCbu4p1QFwliY8MQ-2F9TGkYnyUTjMp5t9BbpQhc8gTgKnEjNmFgz7juf4RCAr9XMuNPMqY2= 3k0nMP3mODccffvjzOyS7LYxJFM0cJc5fUnCnEB8MX" style=3D"color: #1D5080;" test= =3D"" universal=3D"true">Symmetry Energy Solutions</a></b>, which could be = valued at around $800 million in a deal, Bloomberg reported.<br><br><a href= 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</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-2BaqM7ONnvsnswouzUvx1dWZUzMcU92lL0d6BspWi4osCmyacD9IaYHI= WU1NA-3D-3DmMIe_Pr966knuaHmaw6c7pKvB-2BCEiDnj5UwlJYL0YQP-2BHR4BiQVI43kbMcVf= 8UYA68NVRchcyDYb1zhv-2Fr-2BbE5ZjoxzFr90UVGZw0noeeZNRmY3nnfI7RMZ1CdK7iz5DL44= 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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 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