RT Giacomo Tognini (@giacomotognini)1/Lauren Leichtman spent four decades building a successful private equity firm-Levine Leichtman Capital Partners-with her husband, Arthur Levine. Her latest deal? Buying the National Women's Soccer League's San Diego Wave last October. Read here @Forbes:https://t.co/80scZ7Zg17 ...

Group 1 - The high-yield credit market has largely recovered from the correction experienced in early spring [1] - Junk bond funds (HYG) and (JNK) are now approximately flat on the year [1] - The BBB credit spread has shown signs of stabilization following the market correction [1]

Summary of Key Points Core Viewpoint - NB Private Equity Partners ("NBPE") has announced the buyback of Class A Shares, reflecting its commitment to enhancing shareholder value through share repurchase programs [2][3]. Group 1: Share Buyback Details - The buyback occurred on June 6, 2025, with a total of 3,000 Class A Shares purchased at prices ranging from £14.50 to £14.34 [3]. - Following the buyback, the total number of outstanding Class A Shares will be 45,533,911, with an additional 3,150,408 Class A shares held in treasury [3]. Group 2: Company Overview - NBPE is a closed-end investment company based in Guernsey, focusing on direct private equity investments alongside leading private equity firms globally [4][7]. - The investment manager, NB Alternatives Advisers LLC, is a wholly owned subsidiary of Neuberger Berman Group LLC, which emphasizes fee efficiency by not charging management fees or carried interest to third-party general partners [4]. Group 3: Neuberger Berman Background - Neuberger Berman, founded in 1939, is an independent investment manager with over 2,800 employees managing $515 billion across various asset classes [5]. - The firm has been recognized as one of the best places to work in money management for eleven consecutive years, highlighting its strong employee engagement and management philosophy [5].

Core Viewpoint - The article discusses the precarious state of the U.S. economy, highlighting the impact of fluctuating trade policies and the potential risks that could lead to a recession, despite recent employment growth and stable unemployment rates [1][2]. Group 1: Economic Indicators - In May, the U.S. added 139,000 jobs, with the unemployment rate remaining stable between 4% and 4.2% over the past year [1]. - Consumer debt delinquency rates have been rising for a year, raising concerns about the financial health of low-income borrowers and potential impacts on consumer spending [5]. Group 2: Major Risks - The article identifies three significant risks that could lead to severe consequences for the economy: 1. The fragile balance in the labor market, where companies are hesitant to lay off employees but are also not hiring, which could lead to a sudden spike in unemployment if demand weakens [4][5]. 2. A potential decline in consumer spending due to rising costs, with predictions of a 1% drop in housing prices this year as sellers outnumber buyers by nearly 500,000 [5]. 3. Financial market shocks or sudden shifts in sentiment, with rising long-term borrowing costs potentially affecting stock market performance and corporate profitability [6][7]. Group 3: Corporate Strategies - Companies are adopting various strategies to navigate the uncertain environment, with some choosing to wait and others adjusting supply chains. For instance, some firms are delaying price increases until trade policies stabilize [8]. - The overall sentiment among economists is that the likelihood of a recession has increased compared to earlier in the year, but remains lower than in April and early May [9].

以下文章来源于小贝创投圈 ，作者小贝Edwin 小贝创投圈 . 由资深PE、VC、投行人士发起，通过搭建国内一流创投圈子，培养新一代创投人才的有温度的组织。 近期和一级市场投资的伙伴交流，普遍的反馈是在躺平，特别是市场化的 VC/PE基金。 原因不难理解，甚至问题也是过往十年慢慢积累的，可以说，整个创投行业就在大幅洗牌和重 新梳理阶段。 原因之一，投资人信心严重不足了。 无论是产业方、还是高净值老板和个人，对待长期投资这件事上都几乎到了信心最低点。 国际关系在持续的发酵、国内的内卷趋势在加剧，对微观商业的影响是实实在在的，无论是老 板们还是老百姓都切身感受到了，当年任正非说的 "让寒意传导给每个人"，如今真的实现了。 前几天在给一个大金主家办推荐一个资产，家办负责人的原话是： "除非这个资产打一折，让 老板能捡漏，不然老板绝不会在这个时候出手。" 我和家办老大哥调侃到，起码这位老板还是有意愿的，已经强过 9 0%的老板。很多老板压根真 就躺平了，不然发过去连个声响都没。 我们必须正视现状，在当下，绝对部分个人和企业的长期投资意愿都很弱，这对一级市场在短 期内是极大的弱行情。 原因之二，高收益的资产变得很少。 ...

Core Insights - The private equity industry has experienced a surge in product registrations since 2025, with a total of 4,361 private securities products registered by May 31, marking a significant increase of 45.03% compared to the same period last year [1] - In May alone, the number of registered products reached 870, reflecting a year-on-year growth of 77.19% [1] Strategy Distribution - Equity strategies dominate the market, with 2,749 registered equity strategy products this year, accounting for 63.04% of the total [3] - Multi-asset strategies and futures/derivatives strategies follow, with 646 and 510 registered products respectively, representing 14.81% and 11.69% of the total [3] - In contrast, combination funds and bond strategies have lower market activity, with both categories failing to exceed 200 registered products this year [3] Quantitative Products - Quantitative private equity products have also shown strong performance, with a total of 1,930 registered since 2025, making up 44.26% of all private securities product registrations [3] - Within quantitative products, the majority are focused on equity strategies, with 1,339 registered products, which constitutes 69.38% of the total quantitative product registrations [3] - Futures/derivatives strategies and multi-asset strategies follow, with 299 and 231 registered quantitative products respectively, accounting for 15.49% and 11.97% of the total [3] Detailed Breakdown of Equity Strategies - Within the equity strategy category, the majority of quantitative products are derived from index enhancement strategies (quantitative long equity), with 850 registered products, representing 63.48% of the total registered equity quantitative products [4] - For futures/derivatives strategies, the predominant quantitative products are from the quantitative CTA strategy, with 285 registered products, making up 95.32% of the total registered quantitative products in this category [4]

Group 1 - Yale University is preparing to sell up to $2.5 billion in private equity assets in the secondary market as part of the "Gatsby Plan" [1] - The sale is expected to have an overall discount of less than 10%, although some asset valuations have seen discounts as high as 15% [1] - This transaction is a significant adjustment under CIO Matt Mendelsohn's leadership for the university's $41 billion endowment fund, marking one of the largest secondary market transactions of the year [1] Group 2 - The university's endowment fund is facing dual pressures: a lack of distributions from private equity funds and the prospect of rising investment income tax burdens [1] - Proposed tax rate increases for certain private school endowments by the Republican party could raise the tax rate from 1.4% to 21%, prompting elite institutions like Yale to reassess their investment strategies [1] Group 3 - The "Yale Model," pioneered by the late David Swensen, revolutionized endowment fund investment by increasing allocations to alternative assets such as hedge funds, venture capital, and private equity [2] - As of June 30, Yale holds over $10 billion in leveraged buyout and venture capital funds, with 56% of U.S. higher education endowment funds allocated to alternative investments for the 2024 fiscal year [2] - The ongoing asset sale discussions include a "mosaic transaction" allowing buyers to select specific investment funds, with several buyers, including Lexington Partners and HarbourVest Partners, evaluating the portfolio [2] Group 4 - The Mother Fund Research Center has officially launched the 2025 special list evaluation to encourage excellence in the private equity mother fund and fund industry [3] - The center will release the 2025 special list in July based on existing data and research analysis to promote healthy development in the equity investment industry [3]

Core Viewpoint - Kaskela Law LLC is investigating the fairness of the proposed buyout of AvidXchange Holdings, Inc. at a price of $10.00 per share, as concerns arise regarding whether shareholders are receiving adequate compensation for their shares [1][2][3]. Group 1: Buyout Details - On May 6, 2025, AvidXchange announced an agreement to be acquired by an investment group led by TPG for $10.00 per share in cash [2]. - Following the transaction's closure, AvidXchange's shares will no longer be publicly traded, effectively cashing out shareholders [2]. Group 2: Investigation Focus - The investigation aims to assess if AvidXchange's investors are receiving sufficient monetary consideration and whether the company's officers or directors breached fiduciary duties or violated securities laws in agreeing to the buyout price [3]. - At the time of the announcement, at least two stock analysts had set a price target of $15.00 per share for AvidXchange, raising questions about the fairness of the buyout price [3].

智通财经6月4日电，天眼查App显示，近日，深圳市人工智能终端产业私募股权投资基金合伙企业（有 限合伙）成立，执行事务合伙人为深圳市福田红土股权投资基金管理有限公司，出资额14.4亿人民币， 经营范围为以私募基金从事股权投资、投资管理、资产管理等活动。合伙人信息显示，该基金由深圳市 引导基金投资有限公司、深圳市智慧城市产投私募基金管理有限公司、深圳市福田引导基金投资有限公 司等共同出资。 深圳市人工智能终端产业私募股权投资基金登记成立 出资额14.4亿 ...

Company Overview - NB Private Equity Partners ("NBPE") is a closed-end investment company based in Guernsey, focusing on direct private equity investments alongside leading private equity firms globally [3][6] - The company is managed by NB Alternatives Advisers LLC, a wholly owned subsidiary of Neuberger Berman Group LLC, which is responsible for sourcing, execution, and management of investments [3] Share Buyback Announcement - On June 3, 2025, NBPE announced the buyback of Class A Shares under the authority granted by shareholders on June 12, 2024, and an agreement with Jefferies International Limited [1][2] - A total of 3,800 Class A Shares were purchased on June 2, 2025, at prices ranging from £14.50 to £14.20 [2] - Following the buyback, the total number of outstanding Class A Shares will be 45,546,161, with an additional 3,150,408 Class A shares held in treasury [2] Investment Strategy - NBPE aims for capital appreciation through growth in net asset value over time while providing a bi-annual dividend [3] - The company emphasizes fee efficiency by making direct investments without management fees or carried interest payable to third-party general partners [3] Neuberger Berman Overview - Neuberger Berman, founded in 1939, is an employee-owned independent investment manager with over 2,800 employees across 26 countries, managing $515 billion in various asset classes [4] - The firm's investment philosophy is based on active management, fundamental research, and engaged ownership, and it has been recognized as a top workplace in money management for eleven consecutive years [4]