Bloomberg Beta has closed its fifth fund, raising $75 million from sole limited partner Bloomberg LP to invest in early-stage startups. The firm, led by Roy Bahat, James Cham, and Karin Klein, has invested in companies such as Replit, Flexport, and MasterClass, and has helped create 93 millionaire founders. HarbourView Equity Partners raised $500 million through its second asset-backed securitization led by KKR, backed by music royalties. The company manages approximately $2.67 billion in regulatory assets and owns rights to music by Wiz Khalifa and Christine McVie. BharCap Partners closed its oversubscribed Fund II at $652 million, with total capital raised for its second fund and co-investment vehicles exceeding $1 billion. Sunflower Fund II, led by Liu Jiang, raised $150 million, bringing its assets under management to $250 million. Private credit continues to fuel private equity consolidation in the accounting industry, with S+450 financing led by Blackstone and supported by Blue Owl and New Mountain. In the credit markets, the commercial mortgage-backed securities (CMBS) distress rate increased to 11% in May, reversing a three-month trend of reductions.