Business Blog: SEC tracker: What GPs need to know

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The Daily Pitch: VC, PE and M&A

July 7, 2025

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Here's what the SEC has been up to in 2025

(Chip Somodevilla/Getty Images)

A little more than half a year into President Donald Trump's second term, the SEC under chair Paul Atkins is solidifying its stance on private markets oversight. Rulemaking developments, which started as a trickle in early 2025, have expedited.

LPs and GPs are parsing what's at stake. This timeline breaks down everything you need to know about the state of US regulation.

A message from SVB

Access capital at the end of a fund's life cycle

Learn how NAV loans can be excellent options for creating liquidity within an illiquid fund.

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Vehicle infotainment market drives toward $58B mark

Automotive infotainment systems are quickly becoming one of the most competitive battlegrounds in the connected car space—the market is expected to be worth $58 billion by 2032, as carmakers and tech giants vie for drivers' screen time.

Our latest Emerging Tech Research covers in-vehicle screens, voice assistants and smart-home-connected electric cars, including design priorities and safety challenges. It also highlights the growing influence of China's infotainment companies.

Read it now

Europe's surging continuation funds raise caution on asset quality

(VAWiley/Getty Images)

Continuation funds are on the rise in Europe, with €5.3 billion (around $6.1 billion) raised so far this year—already two-thirds of 2024's total. But as GP-led secondaries boom, experts caution about asset quality and GP-LP alignment.

As the asset class matures, discipline, transparency and rigorous asset selection are some considerations for best practices that industry veterans suggest.

Private credit drives semi-liquid fund assets to $344B

(Sarayut Thaneerat/Getty Images)

Assets in semi-liquid funds have grown rapidly, according to research by Morningstar, due to private credit's growing popularity among individual investors and the loosening of investor restrictions.

Assets in semi-liquid funds open to nonqualified purchasers, or those with less than $5 million in investable assets, grew to $344 billion by the end of 2024, up from $215 billion just two years earlier.

Since yesterday, the PitchBook Platform added:

Deals

182

People

Companies

See what our data software can do

The Daily Benchmark: 2021 Vintage Global Debt Funds

Median IRR

10.59%

Top Quartile IRR

13.39%

0.28x

Median DPI

Select top performers

Star Asia Japan Special Situations V

GoldenTree Distressed Fund IV

BDCM Opportunity Fund V

*IRR: net of fees

115 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

SkyDrive, a Japanese electric vertical take-off and landing aircraft maker, has secured 8.3 billion yen (around $57.5 million) in pre-Series D led by MUFG Bank.

PE Deals

I Squared Capital is in advanced talks to buy Goodpack, a Singapore-based logistics company owned by KKR, in a deal valued at around $1.5 billion, The Wall Street Journal reported.

Apollo Global Management has acquired Suma Capital's 30% stake in Tradeinn, a Spain-based e-commerce company specializing in sporting goods.

Brookfield Asset Management is exploring a purchase of the Sofitel hotel on Dubai's Palm Jumeirah, a luxury beachfront property currently owned by the Investment Corporation of Dubai.

Buenavista and Nauplia Capital acquired a majority stake in Marina Lanzarote, a Spanish marina operator.

Exits

General Atlantic is exploring a US IPO for Joe & the Juice, a Denmark-based coffee and juice bar operator, Bloomberg reports.

Fundraising

SWEN Capital Partners held a €40 million first close for its €200 million-targeting SWEN Terra fund.

Omnes Capital held a €112 million first closing of Omnes Real Tech 2.

EIFO, the Export and Investment Fund of Denmark, invested $5 million in D3, a Ukraine-focused defence technology venture fund, marking the first state-backed investment in the fund.