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Raising $$: Fundamental Advisors raised almost 40 percent of the $1 billion target set for a fourth municipal distressed offering as covid-19 continues to punch holes in local government budgets. One of Fundamental’s best-known deals is its 2014 sale of the Memphis Redbirds’ MLB team to the St. Louis Cardinals and return of the team’s stadium to the City of Memphis. Read it on Buyouts.

Secondaries: Rothschild & Co has become the latest entrant into an increasingly crowded secondaries advisory market. The investment bank and asset manager has hired two advisers from PJT Partners to focus on sponsor-led secondaries transactions out of its London office, according to a statement seen by Secondaries Investor. Check it out.

 

 

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They said it

“For years, our democracy has built a reservoir of goodwill around the world that brings important benefits for our citizens. Recently, we have squandered that goodwill at an alarming pace, and today’s attack on the US Capitol does further damage. It’s time for all Americans to come together and move forward with a peaceful transition of power. We have to begin reinvesting in our democracy and rebuilding the institutions that have made America an exceptional nation.”

 

David Solomon, chairman and chief executive of Goldman Sachs, in response to Wednesday's violence on Capitol Hill.

 

Today's letter was prepared by Sarah Pringle.

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