Good morning, PE Hubsters! Rafael Canton here with the US edition of the Wire from the New York newsroom. Let’s kick off the Wire with a scoop from earlier this morning. May River Capital has reportedly shelved a limited sale process for Industrial Flow Solutions according to sources. Then, tariffs are top of mind for many dealmakers. Today, we’re featuring insights on the topic from two sources. First, Carlyle Group CEO Harvey Schwartz says a more aggressive tariff policy adopted by the new US administration will not pose a significant threat to Carlyle’s business. Finally, we have insights from Jon Kossow, managing partner and co-head of the growth equity team Norwest Venture Partners on tariffs. Sale on pause Let’s start with a scoop from earlier this morning from PE Hub senior reporter Michael Schoeck. May River Capital recently shelved a limited sale process for Industrial Flow Solutions, three sources briefed on the matter told PE Hub. Subscribe to the premium version of the Wire to learn more about the PE Hub scoop. A manageable situation Carlyle Group CEO Harvey Schwartz said a more aggressive tariff policy adopted by the new US administration will not pose a significant threat to Carlyle’s business during the firm’s Q4 2024 earnings call Tuesday. Premium subscribers to the Wire can read more about Carlyle’s thoughts on tariffs. Dealing with uncertainty “I think the tariff situation is very fluid,” Jon Kossow, managing partner and co-head of the growth equity team Norwest Venture Partners told PE Hub. “It seems to change every day.” Continuing the tariff conversation, PE Hub has been following how PE firms have dealt with the uncertainty surrounding tariffs throughout the start of 2025. We covered how consumer dealmakers were viewing potential tariffs in January. Subscribe to the premium version of the Wire to learn more about how Norwest looks at potential tariffs with its current investments and future deals. If you have any questions, thoughts, or want to chat about deals in the tech, consumer or sports sectors, please email me at [email protected]. Tomorrow, Nina Lindholm will be with you for the Europe edition of the Wire and Michael Schoeck will bring you the US edition. Cheers, Rafael Read the full Wire commentary on PE Hub ... | 