With all that has occurred over the last month with the fall of SVB and Signature Bank, the teetering of First Republic, and fire sale of Credit Suisse, I am interested in hearing about searchers and SMBs cash management practices.

For the successful acquirers out there, I am sure you all have cash holdings above FDIC limits. Have you recently adapted your CM practices? How so - have you taken positions in 1 month treasuries and/or money markets accounts? How have you recently adapted your practices?

For those in the LOI or further stage, how have recent events effected your thinking on CM? Has CM strategies become a new paradigm for you?

For search investors, have you adapted your requirements to include more CM strategies or oversight?

Finally, for recent acquirers and those in LOI or post LOI, have you begun sourcing internal or external treasury functions?

Or, am I just overthinking this and it’s not a problem for our space?

Every time I think I have a handle on what it takes to successfully own and operate an SMB, a new wrinkle/step/box-to-check comes up.