Private equity pioneer Thomas H. Lee took his own life one week ago today, with friends and colleagues still seeking answers that may never come.

• It's also led to questions about the future of New York-based Lee Equity Partners, the lower midmarket firm he co-founded in 2006, after an acrimonious split with the larger buyout firm in Boston that also bears his name.

What to know: Lee Equity Partners, while stunned and saddened by the suicide, is not expected to slow down.

• The firm quietly held a first close on its fourth fund last July, securing over $650 million, according to multiple sources.
• It recently held a second close that brought the total to around $850 million, against a $1 billion target and $1.25 billion hard cap, in a process managed by Evercore.
• The firm declined to comment, due to SEC marketing restrictions.

Zoom out: Lee was no longer involved in day-to-day operations of Lee Equity Partners, working out of his family office where LEP began but quickly outgrew.

• A source says the transition began shortly after the firm was founded, given that Lee already was in his early 60s. He eventually transitioned into a chairman role, with his carried interest on Fund IV said to be in the "single digits."
• Lee did still dial into Monday morning meetings from 9-11am each week, and sat on the firm's investment committee.
• His ownership of the LEP management company was listed at between 25% and 50% as of the firm's last federal filing, although a source says that is expected to rapidly reduce based on a mechanism in firm documents that was structured in the event that Lee or any of his three co-founders were to die.

The intrigue: Sources close to LEP insist there is no skeleton in the firm's portfolio that would have promoted Lee to kill himself, which is a message the firm has conveyed to limited partners. One source adds that the firm had its biggest win just last summer, when it sold insurance advisory Captive Resources to KKR for $2.25 billion.

• Lee, who didn't leave a note, also engaged in investment and philanthropic activities outside of the firm.

The bottom line: Lee was an outsized personality, and a giant in the history of private equity. The firm he left behind plans to maintain that legacy.

If you or someone you know needs support now, call or text 988 or chat with someone at 988lifeline.org. En Español.

Macquarie Group (ASX: MQG) is considering a takeover bid for British money manager M&G (LSE: MNG), the former U.K. arm of Prudential PLC whose market cap is north of £5 billion, per Sky News.

Why it's the BFD: This is part of a recent run on asset managers.

• In the past 24 hours, Lazard Asset Management said it's buying New York-based wealth management firm Truvvo Partners and Nuveen announced the completion of its acquisition of a control stake in European private debt manager Arcmont.

The bottom line: "The Australian group would be unlikely to seek to retain M&G's insurance operations, with analysts suggesting on Wednesday night that it could partner with an acquirer of that business or seek to sell it after a takeover completed." — Mark Kleinman, Sky News

🚑 Cargo Therapeutics, a San Mateo, Calif.-based developer of CAR T-cell therapies for cancer, raised $200m in Series A funding co-led by Third Rock Ventures, RTW Investments and Perceptive Advisors. Other backers include Nextech, Janus Henderson Investors, Ally Bridge Group, Wellington Management, T. Rowe Price, Cormorant Asset Management, Piper Heartland, Samsara BioCapital, Red Tree Venture Capital and Emerson Collective. https://axios.link/3IGx4Zq

Wunderkind, a New York-based behavioral marketing platform for brands, raised $76m in Series C funding led by Neuberger Berman. https://axios.link/3YeXTta

• Sesamm, a French natural language startup focused on corporate ESG insights, raised €35m. Opera Tech Ventures and Elaia co-led, and were joined by Unigestion, Carlyle, Elevator Ventures, AFG Partners, CEGEE Capital and New Alpha Asset Management. https://axios.link/3ZdqdNX

• SpotDraft, an Indian provider of contract lifecycle management software, raised $26m in Series A funding. Premji Invest led, and was joined by Prosus Ventures, 021 Capital, Arkam Ventures, Riverwalk Fund and 100x Entrepreneur Fund. https://axios.link/3ILcU0k

• Attio, a London-based CRM startup, raised $23.5m in Series A funding. Redpoint Ventures led, and was joined by insiders Balderton Capital and Point. https://axios.link/3ZqMRSY

• ION Mobility, a Singapore-based developer of e-bikes and energy storage solutions, raised $18.7m in Series A funding from TVS Motor, AC Ventures Malaysia, Michael Sampoerna, TNB Aura, Quest Ventures, Monk's Hill Ventures, Village Global, GDP Venture and Seeds Capital. https://axios.link/3KT4mXM

• BelliWelli, a Marina Del Rey, Calif.-based maker of gut-healthy brownies and other foods, raised $15.4m in Series A funding led by The Invus Group. https://axios.link/3SEJZ2t

🚑 Skin + Me, a London-based virtual skin care startup, raised £11m in Series B funding led by Octopus Ventures. https://axios.link/3Y5Iewh

• Edurino, a German e-learning platform for preschool and primary schoolchildren, raised €10.5m in Series A funding. DN Capital led, and was joined by FJ Labs and Tengelmann Ventures. www.edurino.com

• TeraPore Technologies, a South SF-based developer of nanofiltration membrane systems for biomanufacturing, raised $10m led by insider Anzu Partners. Other backers include Entegis and RA Capital Management. www.terapore.com

• Anonym, an ad tech startup that uses encrypted data to measure ad campaign efficiency, raised $8m in seed funding. https://axios.link/3J3yqyE

• Velotric, a Chinese e-bike maker, raised $7.4m in Series A funding from Redpoint China Ventures, Fosun RZ Capital, Uphonest and Lime co-founder Brad Bao and Toby Sun. www.velotricbike.com

• Zarta, a pay-per-view video platform for creators, raised $5.7m in seed funding led by Andreessen Horowitz. https://axios.link/3Y6DLtb

• Redeem, a provider of connectivity tools for blockchain projects, raised $2.5m in pre-seed funding led by Kinetic Capital, per Axios Pro.

• Fidelity didn't change the carrying value of its Twitter shares between the end of December and the end of January, per a new disclosure.

• It had marked down the stock by more than 60% during the first two reporting months after Elon Musk's takeover, which Fidelity helped to finance.

• BetaNXT, a New York-based portfolio company of Clearlake Capital Partners and Motive Partners, acquired Mediant Communications, a New York-based provider of investor communications technology. www.betanxt.com

⚡ CPPIB, KKR and Macquarie Group are among those considering bids for Vattenfall’s district heating business in Berlin, per Bloomberg. https://axios.link/41AwgOe

• Green Infrastructure Partners agreed to acquire the Ontario, Canada roadbuilding business of Aecon (TSX: ARE) for C$235m. https://axios.link/3KSWS79

⚡ Equinor is nearing $1b agreement to buy Suncor Energy's (TSX: SU) British North Sea oil and gas assets, per Reuters. https://axios.link/41HHSyT

• EQT is in talks to buy Radius Global Infrastructure (Nasdaq: RADI), a Bala Cynwyd, Pa.-based cell tower site leasor for around $3b, or $15 per share. https://axios.link/3y6P3Dc

• Genstar Capital invested in Likewize, a Southlake, Texas-based tech protection and support company backed by Brightstar Capital Partners. www.likewize.com

• Glaam, a South Korean provider of architectural media glass, agreed to go public at an implied $309m post-money enterprise value via Jaguar Global Growth Corp. I (Nasdaq: JGGC), a SPAC formed by Jaguar Growth Partners. https://axios.link/3ELxTig

⚽ Giannis Antetokounmpo, former NBA MVP, is among new minority investors in Major League Soccer’s Nashville SC. https://axios.link/3KPzLdx

• Esken (LSE: ESKN) is seeking a buyer for London’s Southend Airport. https://axios.link/3IKmLDo

• QuestionPro, an Austin, Texas-based research and data company, acquired Pundit Consultantz, a Chicago-based health care commercialization consultancy. www.questionpro.com

• Mercer, a unit of Marsh McLennan (NYSE: MMC), acquired Leapgen, a Manhattan Beach, Calif.-based HR tech advisory firm. www.leapgen.com

• Saga (LSE: SAGA) said it ended exclusive talks about selling its underwriting arm, Acromas Insurance, to Open Insurance. https://axios.link/3ZcjvYp

• Stellantis (NYSE:STLA) agreed to sell its Turkey distribution business to local partner Tofas for €400m. https://axios.link/3KLnZRC

• TD Bank Group (NYSE: TD) completed its $1.3b acquisition of U.S. investment bank Cowen.

• 8VC, the venture firm led by Joe Lonsdale, raised $880m for its fifth fund. https://axios.link/3J75NAC

🚑 B Capital raised over $500m for its debut health care VC fund. https://axios.link/3KRIr3q

• Chiliz of Malta launched a $50m incubator and accelerator program for early-stage blockchain projects focused on sports and entertainment. https://axios.link/3J5TZi0

• Northleaf Capital Partners of Toronto raised more than US$675m for its eighth fund, which focuses on primary, secondary and direct investments in midmarket buyout opportunities. https://axios.link/3J5XTYh

• PSG Equity is targeting $6.5b for its sixth fund, per public pension docs. https://axios.link/3ERia1b

• Second Alpha Partners, a New York-based private equity secondaries firm, raised $170m for its second fund. www.secondalpha.com

• SixThirty Ventures of St. Louis raised $66m for its third fund. www.sixthirty.co

• TTV Capital raised $250m for its sixth VC fund. www.ttvcapital.com

• CapitalG promoted Laela Sturdy to managing partner. She succeeds David Lawee, who’s stepping down after forming CapitalG over a decade ago and 17 years with Alphabet. https://axios.link/3KPITz6

• Devrup Banerjee joined Mercury Capital Advisors as a partner on its secondary advisory team. He previously was a principal with Glendower Capital. www.mercurycapitaladvisors.com

• Tucker Highfield, co-head of Asia-Pacific equity capital markets at Bank of America, is retiring from the industry, per Bloomberg. https://axios.link/3y3JghN

• Richard Golaszewski and Stephen Swentzel both joined Hunter Point Capital as head of a new GP financing solutions group. They previously were with 17Capital. www.hunterpointcapital.com

• Partners Group is cutting around one-fifth of its Asia-Pacific private equity team, per Bloomberg. https://axios.link/3y4nRVH

Salesforce stock is surging on a qurterly performance beat and up to $10 billion in new stock buybacks.

• CEO Marc Benioff praised activist investor Mason Morfit on ValueAct, a recent board addition, during the earnings call. But activists continue to lurk, with Elliott reportedly nominating new directors.