In today's edition, Mega-firms are largely defying fundraising and exit headwinds; OMERS is plotting a fivefold increase of its PE portfolio; Carry communication (or a lack thereof) is causing headaches for staff.

Fresh Insights Earning season: a glimpse behind the curtain at PE's biggest shops. Source: Getty Learnings from earnings At a time when LP capital is consolidating in the hands of blue-chip giants, earnings season can be viewed as something of a barometer for the industry at large. As we near the end of H1 analyst calls, here's what Side Letter has learned: Fundraising is easier at the top Mega-firms are largely defying fundraising headwinds.