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"The world’s largest tech investors are pouring money into cryptocurrency infrastructure companies, as the growing industry struggles to keep up with new users." (Financial Times)

 

"OceanSound Partners has raised $780 million for its first fund, overcoming initial setbacks from the coronavirus pandemic and a crowded fundraising market to exceed its $550 million goal." (WSJ Pro)

 

"A California arbitrator hearing a dispute over a $325 million solar-power investment has ruled against private-equity investors in a preliminary decision that is expected to be finalized later this month." (WSJ Pro)

 

"Peter Thiel will not seek re-election to the board of Facebook’s owner Meta later this year, the social media group said on Monday." (Financial Times)

 

"SoftBank’s $66bn sale of UK-based chip business Arm to Nvidia collapsed late on Monday after regulators in the US, UK and EU raised serious concerns about its effects on competition in the global semiconductor industry." (Financial Times)

 

Vindi Banga, a partner with private equity firm Clayton, Dubilier & Rice, penned an item for the World Economic Forum detailing three reasons he believes his industry can lead the charge on ESG strategy.

 

"Cathie Wood, known for her investments in disruptive companies, is branching out into private equity for retail investors." (Barron's)

 

"Private equity attorney Robert Rizzo has joined Weil, Gotshal & Manges as a partner in New York, the firm said." (Reuters)

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They said it

“Buyers don't have the time or resources to compete in a drawn-out auction process, instead finding themselves willing to pay a steeper multiple to ensure they will win the asset and take it off the table extremely quickly.”

— Robert Reifman, managing director, Lincoln International

Today's letter was prepared by MK Flynn

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