LEGISLATOR RESIGNS AFTER INSPECTOR GENERAL REPORT Suburban Democratic lawmaker Rep. Harry Benton is now former-Rep. Harry Benton after resigning Monday from the Illinois General Assembly. Benton had been reduced to only being able to vote on the floor of the House after allegations of improper conduct were lodged against him. After the Inspector General report, House Speaker Welch demanded his resignation or else he would be expelled. Illinois Politico newsletter: Details of the allegations against Benton, who did not return a request for comment, remain largely unknown, though two people familiar with the General Assembly’s internal discussions have characterized the allegations as involving sexual harassment . They were granted anonymity because they were not authorized to speak publicly. While the report would have been automatically released had it caused Benton’s expulsion, his voluntary resignation leaves its potential release to the public up in the air. ABC Chicago | South suburban Democrats move to replace former Rep. Harry Benton after undisclosed ethics findings : Democratic leaders in Will and Kendall counties will choose Benton’s replacement for the 97th House District, one of the state’s more politically competitive areas. The weighted vote gives Will County Democratic Party Chairman Billy Morgan the ability to make the selection on his own. “We need someone who will be pragmatic and effective in Springfield,” Morgan said. “They need to be somebody who understands how to get things done, and someone who’s a real fighter for the 97th district.”

LEGISLATOR RESIGNS AFTER INSPECTOR GENERAL REPORT Suburban Democratic lawmaker Rep. Harry Benton is now former-Rep. Harry Benton after resigning Monday from the Illinois General Assembly. Benton had been reduced to only being able to vote on the floor of the House after allegations of improper conduct were lodged against him. After the Inspector General report, House Speaker Welch demanded his resignation or else he would be expelled. Illinois Politico newsletter: Details of the allegations against Benton, who did not return a request for comment, remain largely unknown, though two people familiar with the General Assembly’s internal discussions have characterized the allegations as involving sexual harassment . They were granted anonymity because they were not authorized to speak publicly. While the report would have been automatically released had it caused Benton’s expulsion, his voluntary resignation leaves its potential release to the public up in the air. ABC Chicago | South suburban Democrats move to replace former Rep. Harry Benton after undisclosed ethics findings : Democratic leaders in Will and Kendall counties will choose Benton’s replacement for the 97th House District, one of the state’s more politically competitive areas. The weighted vote gives Will County Democratic Party Chairman Billy Morgan the ability to make the selection on his own. “We need someone who will be pragmatic and effective in Springfield,” Morgan said. “They need to be somebody who understands how to get things done, and someone who’s a real fighter for the 97th district.”

It’s nearly here. Next Monday, July 13th is the IVCA Invitational, the annual event in which members of the Chicagoland Private Equity and Venture Capital community come together to play golf, as well as raise awareness and dollars for IVCA Foundation programs. Click here for information and schedule page. A portion of the proceeds from the event will fund the IVCA Scholar Program, a ten-week deep dive into the industry with significant exposure at a Venture Capital or Private Equity firm. Each Scholar is matched with a host firm, attends a two-day skills boot camp, and participates in weekly training organized by IVCA. The 2026 Program is currently in session. Additional proceeds benefit year-round initiatives. In the spirit of the day, and the relative golf skills on display, we thought it would be a departure to search the online resource, not for the usual industries’ news links, but what AI, the web and YouTube videos have to about the oddest elements of golf. ChatGPT.com , ’What are the oddest and weirdest golf tips on the web?’ Count backward during the swing: Some golfers count "3…2…1" or recite a phrase while swinging. The mental distraction helps stop overthinking mechanics. Hit shots with your eyes closed: Advanced players sometimes hit half-swings without seeing impact. This develops feel and balance instead of relying entirely on vision. ASK FOR MORE: https://chatgpt.com/ GolfMonthly.com , ‘These Are The 8 Weirdest Things Golfers Do’ In this video and article, I outline eight of the weirdest things I have seen on a golf course … which may leave any non-golfers reading this scratching their heads in confusion. Fear not, as we explore the logic – or lack of – behind the madness and aim to provide a little clarity … READ MORE: https://www.golfmonthly.com/features/the-game/8-weird-things-golfers-do-197048 Golf-Drives.com , ‘Golf’s Weirdest Rules!’ If you’ve ever been the victim of your ball falling off the tee and had someone merrily call “one”, you will know only too well the frustration and, often, confusion, the rules of golf can cause. Regulated by the R & A , you could say that golf is a well-governed sport, with countless eventualities being covered by the Rules of Golf. With so many rules, you would think playing golf would be easy yet there are still plenty of situations that leave your average golfer scratching their head. READ MORE: https://www.golf-drives.com/guides/strangest-golf-rules/ BeacherReport.com , ‘12 Most Unorthodox Golf Swings of All Time’ For every piece of golf advice telling you to do one thing, you can find another that contradicts it. So it really should come as no surprise that professional golf has seen quite a number of bizarre swings over the years. Some were successful, and some were not. But they are all fascinating to watch. READ MORE: https://bleacherreport.com/articles/903422-xx-most-unorthodox-golf-swings-of-all-time Essential.golf , ‘The Craziest Ever Golf Betting Stories’ Golf is often seen as a game of patience and precision, but there’s a dark, thrilling world of high-stakes betting lurking beneath the surface. While most fans might place a friendly bet with friends or on their favorite pro at the Masters, some stories from the golf betting world are just plain insane. From millionaire gamblers to drunken dares, here are some of the craziest golf betting stories ever. READ MORE: https://essential.golf/craziest-ever-golf-betting-stories/ TheGolfBandit.com , ‘The Most Outrageous Golf Bets & Challenges’ Side bets make it way more fun. Punishments make it way more painful. Here are the most outrageous golf bets and challenges … would you take any of them? READ MORE: https://thegolfbandit.com/the-most-outrageous-golf-bets-challenges/ Mister One Putt YouTube , ‘The Weirdest Whackiest Best Putting Tips You'll Ever Get’ Looking to improve your putting game? Check out these weird and wacky putting tips that will help you make more putts on the green! WATCH (11.5 MINUTES): https://www.youtube.com/watch?v=mwLi5ECxnRE The 2026 IVCA Invitational will take place starting at 10am on Monday, July 13th, at the Olympia Fields Country Club, 2800 Country Club Drive, Olympia Fields, IL.

Looking to join the IVCA Invitational but not interested in a full round of golf? Participate in our Golf Clinic Experience , beginning at 2:00 PM at Olympia Fields Country Club . Designed for golfers of all skill levels, the clinic offers professional instruction and a relaxed networking environment. Registration also includes admission to the Invitational Reception at 5:00 PM , where you'll connect with leaders from Illinois' private equity and venture capital community. To reserve your spot, please contact Peggy Castanoli at pcastanoli@illinoisvc.org .

Join us on Monday, July 13 , at the prestigious Olympia Fields Country Club for the IVCA Invitational , the IVCA Foundation's premier fundraising event benefiting the IVCA Scholars Program . A limited number of investor-only foursomes remain available. Don't miss this opportunity to connect with fellow private equity and venture capital professionals while supporting the development of the industry's next generation of talent. To reserve a foursome, please contact Peggy Castanoli at pcastanoli@illinoisvc.org .  We look forward to seeing you on the course.

LEGISLATURE FINISHED FOR THE SUMMER – UNLESS The Illinois General Assembly is on recess between now and November when lawmakers return to Springfield for the Veto Session. That is unless there is a special session called to deal with the Chicago Bears and where the team will ultimately call home; Chicago, Arlington Heights, or somewhere in the swamps of Indiana. Chicago Bears still looking to piece together stadium legislation in Illinois, Gov. JB Pritzker says. Tribune … The Chicago Bears are looking to piece together legislation in Illinois that might pass the General Assembly in Springfield, Gov. JB Pritzker said Tuesday, as the team continues to weigh whether to stay or move across the border to Indiana. Pritzker said his office has been a player in the ongoing Illinois negotiations with the NFL franchise, which has been considering elements of two bills that each passed one chamber of the Illinois General Assembly this spring. The state still needs the Bears to put together specific provisions of a bill, Pritzker said. Once the team is able to put together a proposal, he said, “they need to begin conversations with members of the legislature that they weren’t able to win over before, and again, we’ve been advising and trying to help out wherever we could.” Governor Pritzker has signed the FY27 state budget which begins July 1 and the accompanying bills which keep state government in operation. DATA CENTERS IN THE VISE Not long-ago data centers were welcome additions to the state’s economic development plans with a tax credit program and community competition to host a location. Today data centers poll with the public about as poorly as anything can and policy makers are eager to slow or stop their proliferation. In Illinois the construction trade unions which build things such as data centers are faced off against a host of opponents who argue the facilities use too much water and energy and make too much noise. This issue will be the subject of considerable conversation over the summer and fall leading up to a possible solution in November. * Crain’s | Pritzker wants legislators to take up data centers in the fall : Opponents have questioned whether Pritzker has the authority to administratively suspend or slow the applications for the incentives under a program that dates back to 2019. “We’re going to address the issue, I hope, in the veto session,” Pritzker said at a press conference today. “We have authority to decide what process we’re going to use in order to go through those tax credits.

How IVCA is strengthening Illinois’ private equity and venture capital talent pipeline Christie Pruyn, Executive Director, IVCA How has the IVCA Scholars Program evolved under your leadership, and what have you implemented based on feedback from scholars and participating firms? What we have really focused on over the last couple of years is evolving the program so it aligns directly with IVCA’s broader strategic plan, specifically building a strong, sustainable talent pipeline in Illinois and across the Midwest. One of the biggest shifts has been tightening our geographic focus. While we have always had a national applicant pool, we are now prioritizing Illinois and Midwest students because our goal is very clear. We want to build and retain talent in this market for our member firms. We have also continued to build more structure into the program. That includes stronger onboarding, clearer expectations for both host firms and scholars, and adding more formal learning components so scholars are set up to contribute with confidence and get the most out of the experience. On the scholar side, we have placed a greater emphasis on connection and community. We launched a LinkedIn group for the current cohort and alumni, which is already becoming a hub for mentorship, job opportunities, and ongoing engagement with IVCA. More broadly, we have matured how we measure success. We now have consistent surveys and KPIs for both scholars and firms, which gives us a much clearer picture of program impact and helps guide how we continue to evolve. What have you observed as the expectations scholars have coming into the program versus what they get out of it? Most scholars come in expecting a fairly traditional internship, learning technical skills, getting exposure to a firm, and building their resume. What they do not expect is how much access they get to the broader ecosystem. They are meeting professionals across private equity and venture, hearing directly from partners and operators, and building relationships not just at their firm, but across the entire cohort. That network piece is often the biggest surprise and ultimately one of the most valuable outcomes. They leave with a much clearer understanding of the industry and where they might fit within it. As you have built the program year over year, what has been most rewarding to you as a facilitator? Honestly, it is the level of engagement from both sides. Our member firms are incredibly invested. They are not just offering an internship. They are mentoring, providing real exposure, and thinking long term about how these students fit into the industry. On the scholar side, the drive is remarkable. Many are stepping into environments that are completely new, and you can see their confidence grow over the course of the program. What is especially rewarding now is seeing this become something bigger than a single summer. With the alumni network, ongoing programming, and stronger ties back to IVCA, this is really becoming a pipeline, not just a program. How does the IVCA Scholars Program fit into IVCA’s long term vision for the Illinois investment ecosystem? This has become a core pillar of IVCA’s strategic plan. At a high level, this is about building and retaining talent in Illinois and the Midwest. Our member firms need a strong pipeline, and this is one of the most direct ways we can support that. What is different now is that we are not just delivering a program. We are building infrastructure around it. We are tracking outcomes, we have introduced consistent surveys, and we are using that data to continue strengthening the model. Scholars are rating the program extremely highly, and more than 90 percent say it increased their interest in pursuing a career in private equity or venture capital. Just as important is the role of the IVCA Foundation. The Foundation’s support allows us to expand the program thoughtfully, not just in size, but in quality, programming, and long term impact. Because I oversee both organizations, there is strong alignment between strategy, fundraising, and execution. I am really proud of how this has evolved. It is not just a program anymore, it is part of a long term effort to strengthen the Illinois investment ecosystem. Where do you see the program going over the next few years? We are still early in what this can become. The focus now is on continuing to build depth, stronger engagement with member firms, more structured programming throughout the year, and continuing to grow the alumni network into a real community. We are also thinking more intentionally about creating multiple entry points into the industry. Not every student is ready for the same level of experience at the same time, so building a continuum of opportunities is a natural next step.  Longer term, the goal is for this to be a go to pipeline for talent in Illinois, where firms know they can find strong candidates and where students see a clear path into private equity and venture. If we get that right, the impact goes well beyond IVCA. It strengthens the competitiveness of this entire market.

Two opportunities from VC University we've been asked to share: Cohort 23 Scholarship Application (Deadline: 6/10) The scholarship application is now open for Cohort 23 of VC University. Scholarships cover full tuition and include office hours, a 3-month mentorship program, and more . Audience encouraged to apply: U.S.-based, early-career and aspiring VCs from underrepresented backgrounds ( more details ) Learn more and apply by Wednesday, June 10. Easy Ways to Share: Share this tweet or LinkedIn post Use this sample content for social media, newsletters, or slack Cohort 22 Mentorship: VC Volunteers Needed (Deadline: 6/26) We're also seeking VCs to volunteer as mentors in Cohort 22. Mentors meet with a scholarship recipient for 1 virtual hour/month, from August - October (3-4 hours in total). Audience encouraged to volunteer: U.S.-based VC investors across all sectors and experience levels Learn more and sign up by Friday, June 26.

IVCA FACES HEADWINDS IN 2026 SESSION Illinois lawmakers in the Spring 2026 Session approved in part or in whole several legislative measures to restrict, control, or otherwise manage private equity investments in the state. This is part of a national trend which IVCA members must be increasingly aware of going forward. In this edition of the newsletter, we’re providing links and quotes to press releases and news articles which will give you some context of how Private Equity is increasingly under pressure from policy makers. As always, if you would like further information or want to discuss any of these issues in greater detail, please contact IVCA Executive Director Christie Pruyn and we will respond immediately. RESTOCK THE BLOCK ACT HB 2783 passed the Senate and is now pending further action in the House to accept the changes to the bill which were made in the Senate. https://www.illinoissenatedemocrats.com/caucus-news/82-senator-rachel-ventura-news/6986-ventura-pushes-back-on-corporate-home-buying-passes-bill-to-protect-illinois-housing-supply State Senator Rachel Ventura’s measure to curb the growing influence of private equity and large institutional investors in Illinois’ housing market passed the Senate Monday. “As working families struggle to find affordable homes and rising demand continues to drive up prices, we have a responsibility to preserve our existing housing supply for people, not large corporate investors,” said Ventura (D-Joliet). “Unchecked investor activity is pricing Illinoisans out of their own neighborhoods, and we need clear guardrails to restore balance.” House Bill 2783 would establish a graduated annual fee on institutional investors that acquire more than 10 residential properties, beginning at 10% of a property’s value and increasing for every additional 10 properties owned. The fee would be capped at 50% and be directed into the Illinois Affordable Housing Trust Fund to support public housing development, rental assistance, and pathways to homeownership. The legislation also would require residential properties be listed on the open market for at least 90 days before institutional investors can make a purchase. Violations of the waiting period could result in fines of up to $250,000. Interesting to note this issue has also been addressed at the federal level from the White House Executive Order on PE in Housing and in legislation introduced in Congress HB 5000 passed both chambers and now goes to the governor for consideration. This bill was an initiative of the Illinois Attorney General. https://www.senatorguzman.com/news/press-releases/guzman-effort-to-combat-private-equity-in-health-care-has-passed-the-senate Chicago has faced the growing trend of health deserts because of private equity’s involvement in health care. According to the Private Equity Stakeholder Project , closures of West Suburban Medical Center, Weiss Memorial Hospital and Westlake Hospital were all attributable to ownership by private equity company Pipeline Health. Pipeline employed strategies to boost profit by monetizing hospital assets that led to a weakening of the hospitals. This follows a broader national trend of private equity’s involvement in hospital ownership. According to the Private Equity Hospital Tracker , 488 hospitals in the US are currently owned by private equity firms. This represents almost 23% of all for-profit hospitals. Firms that are engaged in this practice include equity giants such as Apollo Global Management, Bain Capital, and Equity Group Investment–which is based in Chicago–among others. The results have been disastrous for underserved communities with safety net hospitals being stripped for profit. https://www.oakpark.com/2026/06/04/private-equity-healthcare-oversite-laws-advance-in-light-of-west-sub-closure/ Two pieces of legislation aimed to provide additional oversight to private equity involvement in healthcare have made it to Gov. JB Pritzker’s desk. The new acts include HB5000, which strengthens oversight and transparency requirements around healthcare transactions and ownership changes, and HB 4728 legislation establishing new guardrails around private equity ownership of intellectual and developmental disability service providers, according to the Private Equity Stakeholder Project. The legislation comes in the wake of West Suburban Medical Center’s closure in March, with the Oak Park safety-net hospital previously brought to the brink bankruptcy by former owner Pipeline Health, a private equity-backed operator. HB 957 passed the Senate and is now pending further action in the House to accept the changes made in the Senate. https://www.illinoissenatedemocrats.com/caucus-news/74-senator-mike-simmons-news/6979-simmons-passes-right-of-first-refusal-for-tenants-through-the-senate To help communities preserve naturally occurring affordable, accessible housing and protect residents from displacement, State Senator Mike Simmons passed HB 957 which will provide tenants with the right-of-first refusal to purchase a residential building for themselves should the owner put the building up for sale or try to initiate a sale. Specifically, a 90-day notice would be required to tenants from the property owner before accepting or listing a building sale. “With rising costs of living and the influence of private equity, residents across Illinois are feeling the strain, and this measure gives them tools to keep their homes,” said Simmons (D-Chicago). “This legislation balances the need to expand and preserve housing with strong protections for property owners through the right of first refusal, fair valuation requirements, and a transparent acquisition process.” HB 5487 is an initiative of the Illinois Trial Lawyers Association. The bill passed both chambers and now goes to the governor for consideration. https://www.senatorhastings.com/news/press-releases/503-hastings-looks-to-close-private-equity-loophole-influencing-law-firms State Senator Michael E. Hastings passed legislation that would safeguard the professional independence of attorneys and protect clients from undue influence by private equity investors, hedge funds and investor‑backed management services organizations. “Private equity companies are starting to get creative with how they influence law firms,” said Hastings (D-Frankfort). “It is time for Illinois to act decisively and shut down this loophole that is being abused.”