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Briefing Notes
M&A
Partners Group Caps Withdrawals at 5% on $8.6 Billion Evergreen PE Fund as Redemption Requests Hit 9.8%
Evergreen PE redemption gates breach is now spilling from private credit into private equity, threatening the semi-liquid fund model.
Banking & Finance
Credit Titans Warn of Private Market Shakeout as Cliffwater's $31.3B Fund Hits 17% Redemption Rate and Non-Traded Vehicles Face Liquidity Crunch
Redemption gates are the canary — when 41% want out, something structural is breaking.
Energy & Tech
EU Parliament to Switch from Google to French Search Engine Qwant in Tech Sovereignty Push as Brussels Tightens Grip on Big Tech Data
The CMA's content-rights intervention on Google AI search creates a new licensing battleground for publishers and platforms alike.
Disputes
UK High Court Rejects $340 Million Claims by Chubb and Fidelis Against War-Risk Underwriters in Russian Stranded Aircraft Dispute
The English courts are methodically closing contribution and indemnity escape routes for insurers in the Russian aircraft claims saga.
AI & Law
Scotland-Based Legal AI Platform Wordsmith Raises $70 Million Series B to Scale In-House Legal Team Tools Across UK, Europe and MENA
A $70m raise for in-house legal AI shows venture capital is now betting that corporate teams — not law firms — lead the adoption curve.
Capital Markets
Applied Aerospace & Defense Debuts on NYSE at $3.5 Billion Valuation as Shares Rise on First Day of Trading
Defence sector IPOs command premium multiples right now — geopolitical risk is a capital markets tailwind.
Regulation
FCA Warns UK Football Clubs Over Unauthorised Financial Sponsors in Sector-Wide Regulatory Alert
Football clubs are now in the FCA's crosshairs — sponsorship due diligence is no longer just a commercial question.
International
White & Case Hires Two Freshfields M&A Partners in Tokyo as Japanese Cross-Border Dealmaking Hits Record Highs
Japan's record M&A volumes are turning Tokyo into the most contested lateral hiring market in Asia for international firms.