Together with

Good Morning,

PE execs are brushing off rising credit defaults, Bain Capital is staying away from the data center boom, Sam Altman wants to expand CHIPS Act eligibility, wealthy Chinese people are sidestepping Singapore for Dubai, Trump floated a $2k 'tariff dividend,' and Congress is nearing a deal to end the longest government shutdown on record.

Specialized AI tools are emerging as the leaders for investment workflows which is why Blueflame is ahead of the curve. Check out their platform and see how Blueflame can serve your firm's specific needs.

Let's dive in.

Before The Bell

As of 11/7/2025 market close.

Learn more about the Litquidity portfolios and subscribe to the strategies on Autopilot.*

Markets

  • US stocks reversed steep losses to close mixed on Friday as a tech sell off continued 

    • Nasdaq lost 3% in its worst week since April

    • 'Mag 8' stocks lost $800B last week 

    • Microsoft is on track for its longest selloff since 2011

  • Philippine stocks fell to a three-year low 

  • US CCC-rated bonds fell 0.8% MoM, underperforming the broader high-yield market as investors increasingly avoid riskiest debt

    • Spreads between investment grade and junk spreads widened

  • Dollar volatility fell to pre-election levels as FX markets move past 'Trump shock'

Earnings

  • KKR beat Q3 earnings estimates on a its best fundraising haul since 2021 but disclosed a $350M fee refund tied to an underperforming Asia PE fund; execs see nothing alarming in rising credit defaults (BBG)

  • Brookfield posted a record Q3 earnings amid record fundraising and deployment of capital, particularly in infrastructure, transition, and credit; execs called the recent credit turmoil 'isolated' (BBG)

  • Six Flags missed Q3 revenue estimates as lower in-park spending offset modest attendance gains; the firm may sell underperforming parks amid activist pressure from a Jana Partners and NFL star Travis Kelce (WSJ)

  • Wendy's beat Q3 sales estimates as same-store sales fell 3.7%, declining less than expected, while maintaining its FY outlook after previous cuts (BBG)

  • What we're watching this week:  

    • Today: CoreWeave, TeraWulf, Instacart, Barrick Mining, Occidental Petroleum, Paramount Skydance

    • Tuesday: Nebius, OKLO, Beyond Meat, Pony AI

    • Wednesday: Circle, Cisco, Tencent

    • Thursday: Walt Disney, Bitfarms, JD.com, Applied Materials

    • Friday: Sony

  • Full calendar here

Prediction Markets

  • Congress is close to a deal to end the longest government shutdown on record – just in time for the holiday season.

Headline Roundup

  • Bessent says $2k 'tariff dividend' may come via tax cuts (BBG)

  • Congress is nearing a deal to re-open the government (AX)

  • US Q4 GDP could be negative if shutdown persists (RT)

  • Consumer sentiment is near its lowest level ever (CNBC)

  • Treasury debt sales dominate light data week for bond traders (BBG)

  • Wall Street's thrill ride gets derailed as doubts seize AI and crypto bets (BBG)

  • Corporate America posts best earnings since 2021 despite tariffs (FT)

  • US investors flock to Japan as Nikkei surges (BBG)

  • L/S hedge funds are up 13% YTD (RT)

  • PE steps in as Europe's last industrial conglomerates splinter (FT)

  • Munis sales set a new record as 2025 bond sales top $500B (BBG)

  • Distressed US dollar loans jumped to $72B to the highest since April (BBG)

  • Rare inflation flip gives EM edge on rich nations (BBG)

  • Bain Capital steers clear of backing US data centers despite boom (BBG)

  • Bain Capital execs brush off systemic concerns (RT)

  • Japan's GPIF gained 5.5% in Q3 in its best quarter since Q1 2024 (BBG)

  • Macquarie CEO warned of commodities volatility (BBG)

  • Sam Altman urged US to expand CHIPS Act tax credit (RT)

  • Meta will invest $600B US over next three years (RT)

  • Starbucks and Dunkin' lose ground in US coffee dominance (WSJ)

  • China paused a US export ban on critical minerals (RT)

  • Visa and Mastercard near deal to end 20-year legal fight (BBG)

  • Trump proposed introducing 50-year mortgages for homebuyers (NWS) 

  • Wealthy Chinese sidestep Singapore for Dubai (FT)

A Message from Blueflame AI

Investment decisions hinge on having the full picture, but critical details often hide in plain sight.

That's why we built Global Search: to help investment firms not only find information faster but also uncover insights they didn’t even know they had.

Global Search is already helping Blueflame users reduce research time and surface insights they'd otherwise miss. A few real-world examples:  
 
✅ Build company summaries using deal notes, CRM records, emails, and public data  ✅ Reference historical deals to inform comps, memos, or diligence workflows  
✅ Search firmwide knowledge for everything related to a sector or theme  
✅ Prepare for LP meetings with relationship-specific insights and internal context

With one interface for firm knowledge, connected apps, LLMs, and the web, Blueflame helps dealmakers and investment firms go deeper—and move faster—without sacrificing accuracy.  

Schedule your demo today to see it in action.

Demo Blueflame

Deal Flow

M&A / Investments

  • Pfizer agreed to acquire weight loss startup Metsera for up to $10B, outbidding Novo Nordisk in a tumultuous bidding war

  • UK PE firm Permira is nearing a deal to acquire $3.1B-listed fund solutions provider JTC

  • Media giant Comcast's Sky unit is in talks to buy the broadcasting arm of UK's ITV for $2.1B, including debt

  • PE firm TPG submitted a $1.15B binding offer for the digital banking solutions unit of Italian enterprise fintech Nexi

  • Indonesian SWF Danantara submitted a $1B bid for a large plot of land near the Grand Mosque in Mecca, Saudi Arabia

  • Video platform Rumble submitted an all-stock bid to acquire $880M-listed German software company Northern Data

  • Australian SWFs QIC and Future Fund agreed to acquire a 19.9% stake in clean energy developer Tilt Renewables from Australia's AGL Energy for $487M

Top VC picks by Fundable

  • Aily Labs, an AI-native decision intelligence platform for global enterprises, raised an $80M round led by FPV Ventures

  • Inception Labs, an AI, startup pioneering diffusion-based LLMs, raised a $50M round led by Menlo Ventures

  • Youth and amateur sports operations startup Fastbreak AI raised a $40M Series A led by Greycroft and GTMfund

  • Amae Health, a startup focused on treating severe mental illnesses, raised a $25M Series B led by Altos Ventures

  • DealMaker, a retail capital raising platform, raised a $20M round led by Information Venture Partners

  • RAAAM Memory, a startup developing on-chip memory technology, raised a $17.5M Series A led by NXP Semiconductors

  • Hybrid direct air capture startup Avnos raised $17M in funding from Shell US Gas and Power and Mitsubishi Corporation

  • Education platform Flint raised a $15M Series A led by Basis Set Ventures and Patron

  • Autonomous AI agent platform Trase raised a $10.5M pre-seed round led by Red Cell Partners and Virginia Innovation Partnership Corporation

  • Upward, a fintech infrastructure platform, raised an $8M seed+ round led by Dundee Venture Capital and Breakwater Ventures Fund

  • International Dance League, a global professional sports league dedicated to dance, raised a $7M seed round led by Elysian Park Ventures

  • Terranova, a startup building robots that inject wood waste into the ground to lift land, raised a $7M seed round at a $25.1M valuation led by Congruent Ventures and Outlander

  • The Beans, a financial OS for frontline care workers, raised a $5.4M seed round from Alloy Alchemist Fund, Commerce Ventures, and more

Get real-time updates on any startup, VC, or sector ever. Try Fundable.

IPO / Direct Listings / Issuances / Block Trades

  • German engineering conglomerate Siemens is weighing a direct spinoff of its Siemens Healthineers medical equipment unit to shareholders via a $41B dividend-in-kind to reduce its ~$40B stake from 71% to below 40% 

  • $27B UK-listed power generator SSE is exploring a share sale that could raise several billion dollars

  • $5B-listed EV air taxi maker Archer Aviation is seeking to raise $650M in a share sale

SPAC / SPV

  • UAE hookah maker AIR will merge with Cantor Fitzgerald-backed SPAC Cantor Equity Partners III in a $1.75B deal

Debt

  • A group of 20 banks including SMBC, BNP Paribas, Goldman Sachs, and MUFJ is providing $18B in project financing to fund construction of a data center campus tied to Oracle

  • China will sell $4.6B of euro-denominated bonds 

  • A syndicate of international banks agreed to provide commodity trader Gunvor with $2.4B in debt

  • KKR's insurance unit Global Atlantic will provide a $750M facility to fund Indonesian energy firm Chandra Asri Pacific's $1B acquisition of Esso-branded gas stations in Singapore from ExxonMobil

  • ADNOC-backed tech-focused investment platform Enersol raised $600M in debt to fund M&A

Bankruptcy / Restructuring / Distressed

  • Bankrupt auto parts supplier First Brands won access to $600M of emergency bankruptcy funds

  • Casino operator Affinity Interactive tapped Moelis to negotiate a restructuring with bondholders

  • BlackRock is winding down a social impact fund that invested in collapsed subprime car lender Tricolor

  • UK gave energy utility Ovo more time to meet capital buffer targets to relieve pressure on the company

Fundraising / Secondaries

  • Real estate giant Greystar raised $1.3B for its second credit opportunities fund 

  • VC Lowercarbon Capital is seeking over $250M for a second fund to back nuclear fusion energy startups

  • Craft Ventures partner Bryan Rosenblatt will launch Sandlot Ventures with plans to raise a $50M debut fund to back pre-seed and seed startups

  • Brookfield Private Equity Fund acquired its first stakes in companies including CDK Global, BrandSafway, and DexKo Global from Brookfield's own listed vehicle

Crypto Sum Snapshot

  • Crypto bear market wipes out almost entire 2025 value gain

  • This year's hottest 'crypto-treasury' crypto trade is crumbling

  • Demand for secure crypto devices soars as hacks hit record

Crypto Sum compiles the most important stories on everything crypto. Read it here.

Exec’s Picks

Finance & Startup Recruiting 💼

Litney Partners

If you're a junior banker looking for your next career move, check out Litney Partners, a recruiting venture between Litquidity and Whitney Partners (the oldest purely financial services executive search and consulting firm), Litney Partners places talent at leading firms in PE, hedge funds, VC, growth, credit, IB, and fintech and is currently recruiting for some incredible roles. Head over to our website to drop your resume and we'd love to get in touch!

Next Play

If you're down bad, realizing finance isn't for you, and want to explore the world of startups (BizOps, chief of staff, strategic finance, etc.), fill out this form. Next Play will reach out to schedule a 1:1 video call if they think they can help as your own, personal startup matchmaker. They've grown their community to over 50k talented professionals and have deep relationships across the tech ecosystem.

Meme Cleanser

🛒 Merch Store: Visit our merch store to shop our latest apparel, shoes, bags, accessories and more.

💵 Litquidity Ventures: Accredited investors & qualified purchasers within the Litquidity community can gain access to alternative investments such as venture, late-stage growth, and private equity through Litquidity Ventures. Interested? Fill out this form.

☎️ Book a call with Lit: Want to pick Litquidity's brain on business advice, insights, or just chat to say what's up? Buy his time here.

📧 Launch your own newsletter: Have great content ideas and looking to launch your own publication? We highly recommend beehiiv to get started.

*DISCLAIMER: Investment advice provided by Autopilot Advisers, LLC ("Autopilot"), an SEC-registered investment adviser. Past performance does not guarantee future results. Investing carries risks, including loss of principal. As always, be smart out there. Litquidity is compensated to promote AutoPilot. Compensation details available upon request.

Reply

or to participate

Keep Reading

No posts found