US stocks wiped out $3T in value in the biggest market cap erosion this century following a historic midterms blowout

Asian tech stocks also plunged

Europe's Stoxx 600 index overtook the S&P 500 YTD as it teases new ATHs

China 10Y yield slipped to 1.58% to a new record low

Carlyle beat Q3 earnings estimates on a pick-up in asset sales (RT)

IREN posted a more than 100% rise in Q3 revenue but said that $4B in ARR is being delayed due to customer requests amid the AI selloff sparked by the elections blue wave (CNBC)

Airbnb issued a Q3 beat-and-raise on its fastest revenue growth in three years on the back of Gen Z travelers (BBG)

Full calendar here

Fate of the universe depends on this IPO. It's so over

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Election raises hurdle for data center IPOs after peers drop (BBG)

Democrats will investigate Trump family's deals (RT)

Democrats will investigate JPMorgan's relationship with Epstein (CNBC)

BoE raised rates to 4% (CNBC)

Nordic alliance seeks one public market to compete with US (BBG)

US upstream O&G M&A rose to $12.6B in Q3 (RT)

Goldman named its biggest partner class since 2010 (WSJ)

UBS slashed spending on consultants as Credit Suisse integration nears (FT)

Crowded hedge fund trades unwind fast after ugly October (BBG)

Some pods at hedge fund Walleye reportedly blew up (FT)

Five credit PMs left hedge fund Brevan Howard (BBG)

Anthropic models are improving twice as fast with help from AI (RT)

Microsoft tightens oversight of neocloud data center projects (BBG)

Republicans press Jensen Huang on ties to a Chinese honeypot (BBG)

Two biggest US cities now have socialist mayors (TIME)

Top PE dealmaker will quit UK for Greece (FT)

Paraguay's president resigned after a controversial fintech collapse (WSJ)

A daily brief in Slack. Set a recurring task to notify you and the team when a notable round hits, whether it's a portfolio company, a competitor, or a rival fund

Outreach that drafts itself. Pull the founders or investors behind a raise, then write them from the same conversation, with all the company background already in context

Sector analysis. Chart deal flow in defense tech over the last eight quarters and see where valuations went, without opening a spreadsheet

Germany will take a 50% stake in Franco-German tank maker KNDS for $7.3B, reducing the likelihood of an IPO

Aerospace and defense startup Shield AI will buy radar company Echodyne for $5.3B and raise $2.5B, including a $1B Series H at a $28.8B valuation, to fund the deal

DTE Energy agreed to sell its non-utility business DTE Vantage ​for $3B

India's Adani Ports and Special Economic Zone will acquire European liquid storage operator Evos from Igneo Infrastructure Partners at a $2.9B valuation, including debt

UK PE firm Permira agreed to acquire a majority stake in HVAC group Flint Group from General Atlantic in a $1.5B deal

Wendy's rejected a $1.4B LBO offer from activist hedge fund Trian Fund Management and adopted a poison pill

Spanish olive oil producers Acesur and Dcoop agreed to buy peer Deoleo from CVC at a $586M enterprise valuation

New York Times is in exclusive talks to acquire film-focused social platform Letterboxd for $330M

Foods giant General Mills is considering a sale of its ice cream brand Haagen-Dazs outside ​of North America

UK digital bank Monzo Bank is exploring a funding round at a  a fresh fundraising round that would value the lender at a $10B valuation after failing to clinch a $13B takeover by Brazilian fintech Nubank or stake sale to PE

Drone delivery startup Zipline raised a $1.5B Series F at a $21.5B valuation led by Paradigm, WCM Investment Management, and Layer Global

Harbinger, an EV truck startup, raised a $240M Series D co-led by Tiger Global, Capricorn, and Ridgeline 

Sand.ai, an AI video startup, raised a $200M Series A+ at a $1B valuation co-led by Cornerstone Capital and Wangsu Science & Technology

Ocient, a provider of petabyte-scale data analytics and agentic AI solutions, raised a $100M Series C led by BOKA Capital  

Kalepa, an insurance AI startup, raised a $75M Series B at a $470M valuation led by Updata Partners

Humble Robotics, a unified autonomy for freight startup, raised a $51M Series A led by Obvious Ventures

Beacon Holdings, a technology investment company acquiring and operating established software businesses, raised a $50M Series C expansion from CPPIB

Uranium Digital, a startup modernizing uranium trading, raised a $16.5M Series A led by Blockchain Capital

Atmospheric AI, a supply-chain computational modeling startup, raised a $10M seed round led by DBL Partners

Takenos, a fintech stablecoin financial platform, raised a $7M seed extension led by North Island Ventures and Road Capital Management

AI backlash could threaten Anthropic's $100B IPO timing

Wonder Group, the restaurant-tech platform that owns Grubhub and Blue Apron, filed confidentially for an IPO; the startup was valued at $10B in July 

European drone maker WB Electronics plans to IPO at an $8B valuation

BP sold a 5% stake in Norwegian O&G firm ​Aker for $1.05B

Industrial real estate JV Ascendas Firstspace is considering raising $500M in an India IPO

UK retailer Frasers Group will buy ​back $135M ‌worth of shares from founder ​Mike Ashley

The heirs to Giorgio Armani favor an IPO over a sale

Apple raised $7.5B in an investment grade bond sale

Banks led by Goldman Sachs, Bank of America, and Barclays are leading a $3.1B financing for PE firm CD&R and medical supplies giant McKesson's $5.8B acquisition of infusion services provider ‌Option Care Health

Indonesia sold $3B of dollar bonds in its first issuance since their fallout with MSCI 

Alphabet is planning a second $1.5B prepaid energy bond sale this year

Haoyang Data Center 1 (Thailand) secured a $590M loan to fund a data center facility in Thailand

A mystery seller is looking to dump $500M of data center loans tied to Vantage Data Centers and CyrusOne

China is considering a dollar and offshore yuan bond sale

Saudi's PGA rival LIV Golf will wind down operations after a financing deal with BC Partners fell apart

$17B AUM multi-strat Walleye Capital is returning some capital and closing part of its equities L/S business after getting clapped in its worst month since Covid

Lower MM PE firm Altamont Capital Partners plans to raise $750M for its fifth fund

Private markets investor Sagard PE raised $580M for its third EM FOF

Hyperliquid filed for regulatory approval to bring perps trading to US

Binance and founder CZ subpoenaed Shark Tank's Kevin O'Leary in $1.8B FTX lawsuit

South Korea delays crypto taxes until 2029

Greece passed a 10% capital gains tax on crypto

Joachim Klement summarized the findings of an interesting research study showing that women often downplay their own abilities, at the cost of promotion.

Here's how major asset classes performed in October. An important reference point given the volatility and clappening this November.