Capital raising
Raise proactively from leverage while window quality is favorable.
Scope: Fundraising launch timing, process pacing, and minimum term quality.
Do now: Run an active fundraising process while window quality remains favorable.
Pause if: Pause acceleration if risk appetite falls below 44 or funding pressure rises above 76.
Re-open when: Resume full process when risk appetite is above 54 and funding pressure falls below 66.