Apollo Global Management is splitting away from its long-time joint venture partner ICICI Venture, a unit of ICICI Bank (IBN). Apollo will be starting its own credit investment business in…

The impact of COVID-19 has been drastic at many real estate investment trusts. Rents are not being paid in offices, malls, and other commercial real estate properties across the country….

Superior Plus Corp.  (TSX: SPB, SUIIF OTC) announced that Brookfield Asset Management Inc., through its Special Investments program, agreed to make a US$260 million equity investment. The deal comes through…

Blackstone Mortgage Trust (NASDAQ: BXMT) announced the pricing of an underwritten public offering of 10,000,000 shares of its class A common stock.  The underwriters have been granted a 30-day option…

Trepp, a leading data provider and analytics firm serving the commercial real estate industry, issued a report on the state of the commercial real estate mortgage security (CMBS) markets this…

Hercules Capital (HTCG) has announced that the U.S. Small Business Administration (“SBA”) has issued a “green light” or “go forth” letter inviting Hercules to finalize its application process to obtain…

Net leased real estate continued to attract investor attention in the first quarter of 2020. According to the latest report from commercial real estate services and investment company CBRE Group…

NGL Energy Partners LP (NGL) announced that it has entered into a new $250 million term loan facility with certain funds and accounts managed by affiliates of Apollo Global Management…

Vacasa, the property management service for vacation rentals, said Tuesday it had raised $108 million in investment led by existing investor Silver Lake, with Riverwood Capital and Level Equity also…

Today’s discussion is with Cheryl Pate of Angel Oak Advisors. We spoke with Cheryl back in September about the community bank debt opportunity. We follow up with a new interview,…

Ares Management (NYSE: ARES) agreed to settle a complaint from the Securities and Exchange Commission (SEC). Ares is paying a $1 million settlement to the SEC. This will resolve a…

Apollo Global Management (NYSE: APO) announced certain affiliate-led funds drove the purchase of $1.75 billion of convertible preferred stock in Albertsons Companies. The target is one of the largest food…

Private equity and alternative investments manager Apollo Global (APO) was very active in the first quarter. The firm opened or added to 35 stocks while reducing or eliminating just 17…

Kohlberg Kravis and Roberts (NYSE: KKR) reported their public equity holdings to the SEC this week. While most of their largest positions are companies that own a controlling interest after…

Blackstone Group (NYSE:BX) continued to deploy capital as the market declined in the first quarter of the year. On the private side, Blackstone has been investing in life sciences deals,…

A holdover from last week. But technology-focused private equity firm Vista Equity Partners has invested in Reliance Jio Platforms, India’s low-cost telecommunication company. Vista is investing $1.5 billion for a…

The KKR conference call for the first quarter occurred on Wednesday morning. Executives at the firm revealed that although they were stung a little by the economic upheaval, KKR continues…

The filing came after the announcement by Loral that it was in advanced discussions with Canadian Telesat co‑owner, Public Sector Pension Investment Board, regarding the combination of Loral and Telesat…

Like most of the other publicly traded private equity firms, the Carlyle Group (NYSE: CG) recorded an accounting loss for the first quarter. The loss is a result of mark…

Apollo Global Management (NYSE: APO) reported earnings for the first quarter of 2020. Apollo reported an accounting loss for the quarter thanks to mark-to-market accounting regulations. That said they generated…

This week, we sat down with Meb Faber of Cambria Investments to discuss his investment approach and how it can help investors miss the massive sell-offs that occur in the…

Private equity firm KKR is continuing to invest across Europe during the global economic shutdown with a stake in Mirastar. In its latest move, KKR is taking a stake in…

Filippo Mezzanotti, an Assistant Professor of Finance at the Kellogg School of Management at Northwestern University, has been studying how private equity fares in a crisis. He examined data from…

The Washington State Investment Board has committed up to $1.9 billion in new infrastructure, private equity, and real estate investments. The board oversees pension as well as other state assets….

This is the perfect storm for commercial real estate markets in the United States. As 2020 started, the consensus opinion was that commercial real estate might see a slowdown in…

Blackstone earnings (NYSE:BX) arrived before the bell Thursday. While the private equity firm fell short of analyst expectations, the firm still managed to generate significant cash flows in the quarter….

Although oil prices have risen today, the price of oil remains at historically low-price levels. This is an opportunity for deep-pocketed private equity firms that own a diversified portfolio of…

Blackrock CEO Larry Fink took umbrage with at a question from Patrick Davitt of Autonomous Research. Davitt asked during a conference call this week if the Fed buying ETFs was a bailout…

Commercial real estate markets have been severely impacted by the economic shutdown caused by the coronavirus. Barbara Corcoran, Shark Tank judge and founder of the Corcoran Group, a New York-based…

BlackRock Q1 earnings dropped today. The world’s largest asset manager reported revenue s growth 11% compared to a year ago. However, profits fell slightly compared to the first quarter of…

Blackstone’s non-traded real estate fund (BREIT) faces the most challenging environment since its 2017 inception. BREIT has $34 billion in total assets. The group has been a big part of…

The continued spread of the COVID-19 outbreak is creating significant hurdles for many sectors of the commercial real estate development industry. In New York City, the epicenter of the current…

Leading real estate and REIT research firm Green Street Advisors has recently commented on the impact of the coronavirus on commercial real estate markets. They note that that as recently…

KKR is suspending its efforts to exit its investment in Goodpacks, a Singapore based supply chain solutions company. While the company’s primary container leasing business to food and rubber companies…

Silver Lake Partners has seen the value of several key holdings decline during the current economic slowdown. About 15% of the portfolio consists of companies in the sports and entertainment…

In the Great Credit Crisis, banks took the biggest hit and the lion’s share of blame for the economic collapse. Banks entered the crisis with too little equity capital. Their…

Private equity and venture capital firms want government money. But investment consulting firm Aksia says they need to think twice about any bailout capital The industries have lobbied for their…

Private equity funds could face a huge hit to valuations as of the end of the third quarter, according to MSCI Research. Using their private equity valuation model, they determined…

Activant Capital has announced a new $257m fund to invest in commerce infrastructure technology. Activant is a growth equity fund that invests in infrastructure platforms focused on efficiency across industries….

Peter Brooke passed away last week at the age of 90 from congestive heart failure and pneumonia. His passing is not related to COVID. Brooke received the moniker as the Johnny…

The private equity industry is losing the fight to gain access to bailout funds provided under the stimulus package passed to help businesses recover from the economic impact of the…

Airbnb has managed to raise $1 billion to help run the business and pay the bills during the downturn. Most of its properties have shut down thanks to the spread…

Activist investor Julian Singer has used the investing partnership, JDS1, LLC, to accumulate 6.43% of HC2 Holdings, Inc (HCHC). The target provides construction, marine services, energy, telecommunications, insurance, life sciences, broadcasting,…

Privitar announced the completion of an $80 million Series C funding round. The data privacy platform provider raised capital from private equity firm Warburg Pincus. It also saw participation from several other…

Apollo Global Management Co-Founder Marc Rowan sent a letter to the firm’s investors this weekend that suggests that if the Fed does not take drastic measures, the economy will be…

Last year activist investor Bow Street won 4 seats on the Board of Mack- Cali (NYSE: CLI). This REIT invests in office and multifamily projects in the Northeastern United States….

Silver Lake Partners is going big with its latest fund. The technology-focused private equity fund wants to raise a new fund worth $16 billion. Raising funds as market prices have…

As markets sold-off on Friday, we saw two large purchases by activist investors. We saw a lot of buying at MGM and Zagg. In one case the activist had a…

KKR (NYSE: KKR) is investing $500 million of equity funding in Kilter Finance. Kilter Finance intends to use the proceeds to make investments into an attractive pipeline of investment opportunities,…

TSG Consumer Partners announced that it has acquired a majority stake in Pathway Vet Alliance. The consumer-focused PE shop purchased the assets from Morgan Stanley Capital Partners funds. The current…

One of the clear winners, if there is such a thing of the current economic situation, will be fintech companies. And we can expect to see a wave of fintech…

Like most Real Estate Investment Trusts, the prices of industrial REITs have declined sharply in the coronavirus driven selloff in the equity markets. While there may be real concerns for…

Dave and Busters (NASDAQ:PLAY) have been hard hit by the economic downturn. The restaurant and arcade company closed its stores across the United States. It furloughed at least 15,000 hourly…

As companies become more undervalued as the economy slows because of shutdown orders across the United States, I expect that the pace of activist activity to increase. We should see…

All around the world, private equity firms are scrambling to adapt to the new environment caused by the rapid spread of the coronavirus. Many countries, especially in the developed world,…

Transit startup Via raised $200 million in a new round of funding. The new deal brings its valuation to $2.25 billion. Exor NV (EXXRF), Giovanni Agnelli’s European holding company led…

Ardian has raised $18 billion for a new fund to buy stakes in private equity funds. Reports say the European private equity manager could close the fund to new investors…

Most analysts expect private equity and activist investors to become very active in buying companies at depressed stock prices. The activists will be urging many companies to make drastic changes…

Ares Management Corporation (NYSE: ARES), Sumitomo Mitsui Financial Group, and Sumitomo Mitsui Banking Corporation (collectively SMBC Group) announced a strategic agreement to collaborate on future business opportunities. As part of…

Nohbo, a company backed by billionaire Mark Cuban on Shark Tank, has completed a $3M in a Series Seed funding round. Material Impact, a venture capital firm that invests in…

The $2 trillion stimulus package passed by Congress and signed by President Trump last week contains wins and losses for the private equity industry. While none of the legislation was…

The Howard Hughes Corporation (NYSE: HHC) announced a secondary offering on Friday. The offering consists of two million shares at $50 a share. The company said it also entered into…

Goldman Sachs (NYSE: GS) is said to have released a report advising companies to ignore the advances of private equity firms right now. With valuations compressed dramatically in a very…

Tom Barrack penned a white paper that outlines the need for massive and immediate relief in the commercial real estate lending markets. Barrack is the Chairman and CEO of Colony Capital…

The American Investment Council released a report this week that shows that the private equity industry invested $309 billion in 4,788 businesses across all regions of the country. The median…

Specialty finance lender Ares Capital (NYSE: ARCC) sent a letter to its shareholders. The letter aims to calm fears about the impact of the coronavirus. The Business Development Company’s (BDC)…

While the main fund is down 13.5%, the listed shares that trade over the counter in the United States are currently down around 30% year to date as investors have…

Financial technology platform company iCapital Network announced today that they had closed a $146 million financing round. The iCapital platform helps advisors that need easy to use technology-enabled investment processes…

The SPDR Dow Jones REIT ETF (IRE) has fallen by 38% in the past month as concerns about quarantines and lockdowns emptying offices, hotels, shopping centers, and other commercial real…

Hellman & Friedman announced it has purchased the majority stake in Tel Aviv-based Checkmarx from Insight Partners. After the sale is complete, Insight will retain a minority interest in Checkmarx,…

Soho China could be next. Proving once again that the firm is fearless, private equity and alternative form Blackstone (NYSE: BX) is stepping up to the plate to bid for real…

Global Medical reported that they had increased total revenue 42.3% period-over-period to $20.5 million, It cited its acquisition activity over the last twelve months for the boost. During the quarter,…

The law firm says that private markets have attracted more capital than public markets over the past two decades. The report says, “We have witnessed that trend continue during the…

Global investment firm KKR, Korea real estate fund manager IGIS Asset Management, and Korean real estate developer SK D&D have purchased Namsan Square. The property is an office tower located…

German industrial concern Thyssenkrupp AG has announced that it is selling its profitable elevator business. A group of private equity firms is taking part in what looks to be the…

Gulf Capital Bank just announced the formation of the first de novo bank in Houston, Texas in more than a decade. The formation of Gulf capital is also the largest…

The DailyAlts weekend reading list features the best news and commentary from around the web.

The National Association of Realtors recently released a report outlining the impact of cannabis on commercial and residential real estate. As legalization spreads across the United States, the industry is…

Ellington Residential Mortgage REIT (NYSE: EARN) reported financial results for the quarter ended December 31, 2019. Ellington had an impressive quarter. Net income registered at $9.7 million, or $0.78 per…

The Harvard Law School Forum on Corporate Governance published a memorandum from Andrew Nussbaum, Karessa Cain, and Steve Cohen of the Wachtell Lipton law firm. Wachtell Lipton is a New…

Taubman Centers (NYSE: TCO) reported financial results for the quarter and full-year periods ended December 31, 2019. It also provided a big surprise for shareholders. The outlet operator has sold…

Innovative Industrial Properties (IIPR) has announced a sales-leaseback deal with Green Thumb Industries (GTBIF). The $2.9 million deal is for a licensed cannabis processing facility in Toledo, Ohio. 

The KKR earnings report arrived this week. The alternative investment giant said that assets, fees and book value all grew by double digits in 2019. Revenues for the quarter ending…

Apollo Global Management earnings arrived this morning. Apollo reported fee-related earnings of $0.59 per share for the quarter and $2.19 per share for the full year. That is a gain…

Banking M&A 2020 became a major topic of discussion this week. Bank Director Editor in Chief Jack Milligan and Rick Childs, a partner at Crowe, conducted a live survey at…

Will 2020 be the year that we see the tipping point in bank technology? Attendees at the Bank Director Magazine Conference in Phoenix think so. The sentiment is that banks in 2030…

Tim Melvin is attending the Bank Director Magazine Acquire or Be Acquired Conference in Phoenix, AZ this week. Over 1,000 bankers have gathered to talk about M&A and growth strategies…

The American Banking Association has released its outlook for merger and acquisition activity in the banking sector in 2020. The ABA finds that the forces contributing to the consolidation of…

Lexington Partners announced the closing of Lexington Capital Partners IX which raised $14 billion of commitments. Lexington Capital is one of the largest funds that invest in private equity and…

Private equity leader KKR released its latest macro outlook this week. Head of Global Macro & Asset Allocation Henry McVey outlines where KKR thinks the best opportunities will be this…

The private equity industry has a problem. A big one. Dry powder, or uninvested cash, at private equity firms, totaled $1.45 billion at the end of 2019.

The Mercer 2020 outlook came out in January. The firm expects growth to pick up somewhat in 2020, both in the United States and the rest of the world.

NAREIT – the National Association of Real Estate Investment Trusts — explored REITs’ strong 2019 performance and linked the sector’s success to a bounceback from 2018’s lackluster performance.  Last week’s…

Unizo Holdings, the Japanese hotel company, said this weekend that a new bidder has emerged with a friendly offer. U.S. investment fund Lone Star is expected to launch a tender…

Evans Bancorp announced this week plans to purchase FSB Bancorp (FSBC) for approximately $34.7 million. The price of $17.80 per share for FSB Bancorp will be paid 50% in cash…

Kearney Financial announced it will purchase MSB Financial, the holding company for Millington Bank, for approximately $94 million. The price will be paid in either 1.3 shares of KRNY common…

Is Chewy a good stock to buy? Not according to David Einhorn. In his 2nd quarter shareholder letter, the Greenlight Capital manager talked disparagingly about Chewy (CHWY), the online pet products…

Japanese regional banks are starting to look for new capital as it becomes increasingly challenging to grow in a low-interest-rate environment. In a move similar to what we saw happen…

AQR Asset Management researchers have put out a new paper that looks at fixed income investing. As rates have declined over the past 20 years, active fixed income managers have…

Quantitative funds are lagging behind the major stock market indexes in 2019. The market is heading towards its best year since 2013, but those funds managed based on investment factors…

CBRE, the global real estate investment and advisory firm, released the third quarter U.S. Net-Lease Investment Report.

Inland Private Capital Corporation announced the full funding of its first private placement offering by a qualified opportunity fund, Saint Paul Opportunity Zone. The fund will no longer accept any…

Natixis Investment Managers has released the results of its survey of investment managers this week. Natixis surveyed 500 institutional investors, who collectively manage more than $15 trillion in assets. These…

Ashford Hospitality Trust announced the sale of the 102-room SpringHill Suites Jacksonville in Jacksonville, Florida for $11.2 million. That price works out to be $109,000 per key. The sales price…

Fundraising by private equity funds will set a record in 2019. As of last month,  PE funds have raised $248 billion of new commitments. There were still two months left…

The KKR European Fund V will focus on buyouts in Western Europe. The company announced this week that it has raised more than €5.8 billion from investors. In addition, the company…

Real Estate 2020 Building the Future (a report from PwC) looks at the key trends in the commercial real estate market for 2020 and beyond.

Tom Barrack is facing new activist pressure from Blackwells Capital after a period of underperformance.  The three-way merger with two NorthStar REITs has, to be kind, not worked well at…

Blackstone Group investments are always an interesting subject. The private equity and alternative asset management behemoth Blackstone has had a very successful fundraising year in 2019.

Earnings season is pretty much behind us now, and the Federal Reserve issued its latest minutes. While Wall Street is celebrating the fact that a historically high number of companies…

The Apollo Management 13-F reveals what the private equity and alternative investment firm bought and sold in the third quarter. While we cannot see or benefit from their private holdings,…

BB&T and Suntrust received approval for their merger of equals by the Federal Reserve System and the Federal Deposit Insurance Corporation.

The Blackstone Group 13-F for the third quarter emerged this week. While we cannot see the private company holding of Blackstone in these filings, we can see what publicly traded…

The KKR 13-F emerged last week. Managers must submit 13-Fs every quarter. These forms list all the securities they own for themselves and their investors.

The Brookfield Asset Management earnings report emerged last week. The company had another solid quarter. Fee-related earnings before performance fees increased 35% over the prior-year quarter.

Five years ago, Neocova Co-Founder and CEO Sultan Meghji worked on an aid mission in Africa to improve financial services in Africa and other emerging markets. The primary goal was…

The Alaska Permanent Fund filed its report for the first fiscal quarter of 2020. The largest U.S. state sovereign wealth fund reported earning returns of 1.24%. That exceeded its benchmark…

The California State Teachers’ Retirement System (CalSTRS) announced its latest asset allocation shifts this week. The $242 billion dollar scheme is shifting assets away from traditional equities.

Ares Management shows strong revenue gains. Ares Management earnings arrived last week. Revenue grew by 94% to $466.5 million year-over-year while the reported earnings of $.23 a share represented a…

In October, CEM Benchmarketing compiled a study for the National Association of Real Estate Investment Trusts (NAREIT). The study is called “Asset Allocation and Fund Performance of Defined Benefit Pension…

Ares Management Corporation reported earning this week. Revenue grew by 94% to $466.5 million year-over-year. Earnings per share came in at $0.23. That figure represented a 153% increase over last…

Brookfield Asset Management held its Investor Day recently. Management made a few things very clear. First, if interest rates remain low, investors will have no alternative except alternative investments.

KKR earnings came out this week. If you read the headlines surround the recent earnings report form KKR and Company (KKR), you would think the world had ended for the private…

KKR & Co announced a 23% year-on-year decline in quarterly profits today. The firm’s report showed a dip in revenue as asset sales slow among private equity firms. Overall, post-tax…

Prologis and Liberty Property Trust announced a merger between the two firms. According to deal terms, Prologis will acquire Liberty $12.6 billion, including the assumption of debt. The board of…

The Blackstone earnings report is always an important quarterly event. Over my years in the investment business, I have learned to watch what people are doing with their money instead…

Private Equity Giant Sees Big Jump in Fee-Related Earnings Private equity company Blackstone Group reported earnings for the third quarter of 2019. GAAP net income was $1.2 billion for the…

Dominion Energy has entered an agreement with Brookfield Super-Core Infrastructure Partners. The latter is an infrastructure fund managed by Brookfield Asset Management (BAM).

AllFunds has announced a partnership with BNP Paribas. According to terms, BNP is taking a 2.5% stake in the world’s largest fund distribution network.

Private equity replication represents a unique opportunity for investors to avoid the high costs of PE investment. Forbes Magazine recently ran a story about the high barriers to entry for…

KKR leadership changes occurred this week. The private equity giant promoted six people (in three pairs) to lead the firm’s private equity businesses in the Americas, Europe, and Asia-Pacific.

Commercial Observer is out with a new report from Arbor Realty Partners titled Top US Markets for Multifamily 2019. The report examines how multifamily markets have fared over the past…

Are community banks alternative investments? That question requires a deeper understanding of liquidity, structure, and broader market correlation. Before we start, it’s worth noting that the Chartered Alternative Investment Analyst…

The latest EY report on M&A activity for the year ahead reveals interesting technology trends. EY is a leader in assurance, tax, transaction, and advisory services. The company finds that business…

The Kroll Bond Rating Agency and New York University’s Stern School of Business joined forces recently to hold their very first credit conference. The conference included keynote talks from several…

Negative interest rates have generated a lot of noise in Europe and Asia. What would happen if the Federal Reserve adopted negative interest rates? That was the subject of a…

The fund outperformed the median results of peers The Stanford University Endowment Fund released its investment results last week. For the 12 months ending June 30, 2019, Stanford Management Company…

Highview Capital announced it has acquired Gold Star Foods, a specialized food distributor to K-12 child nutrition programs. After the deal closes, Gold Star will merge with an existing Highview…

During last week’s Fed-sponsored conference, new data emerged from the Community Banking in the 21st Century survey. In the survey introduction, Bret Afdahl Chairman, Conference of State Bank Supervisors, wrote:…

The EP Energy bankruptcy might have a pair of saviors. Apollo Global Management and Elliott Management have put together a rescue plan for the bankrupt firm. A deal would allow…

Fed Governor Michelle Bowman spoke at the opening of the” Community Banking in the 21st Century” 2019 Community Banking Research and Policy Conference sponsored by the Federal Reserve System this…

FireEye (FEYE) is reportedly seeking a private equity buyer. The news comes after the firm failed to locate a strategic buyer. The company reportedly hired Goldman Sachs to guide them through…

The Real Estate Economic Forecast – authored by Urban Land institute – hit the street today. It’s not as bad as we might have expected. The survey offers a consensus…

RRJ Capital isn’t a household name to most Western investors. But the Asian private equity firm is tapping into an asset class that often goes ignored: Toll roads.

Mapletree Commercial Trust has purchased Google’s Asia Pacific headquarters in Singapore. The acquisition is part of an S$1.55 billion ($1.14 billion) deal for four buildings in Pasir Panjang.

Leeds Equity Partners has acquired VitalSmarts from TwentyEighty. Vital Smarts is a provider of communication, execution, and, leadership development training.

A Conversation with Cheryl Pate, Angel Oak Capital Advisors Angel Oak Capital Advisors is a financial services firm with income funds that primarily deal in bank debt. Today’s DailyAlts interview…

Community Banks Back Cannabis Financial Services Bill The Independent Community Bankers of America sent a letter to the leadership of the House and the Senate urging them to pass the…

“Here’s the Latest on the New Community Bank Leverage Standards New community bank leverage standards will reshape the industry. The FDIC approved a different measure of leverage for community banks…

Trump Trade, Consumer Spending, and a Conversation with Cheryl Pate of Angel Oak Capital Advisors I am reasonably sure that this week marks the first time a sitting President has…

SophisticatedInvestor.com recently took a survey of over 2000 investors between the ages of 35 and 65. Real estate is the top asset class for the long-term, according to a recent…

Optimism for the year ahead, says London Central Portfolio chief Naomi Heaton, chief executive of the property investment firm London Central Portfolio, expressed optimism for London markets despite continuing Brexit…

Each week, DailyAlts Weekend Reading list recaps our favorite outside stories on the markets this week. FDIC Quarterly Banking Profile Day Trading Failure Is Now the Time to Buy Greece?…

Tech funds still generate massive demand from investors Vista Equity Partners has raised the largest technology-focused PE fund in history. The shop raised $16 billion in outside capital for its…

BB&T (BBT) and Suntrust (STI) have received shareholder approvals for their mega-merger. The next hurdle will require action by the regulators. To make the overseers happy with the deal, the new…

It’s the 13th deal this year between a credit union and a small bank Bank M&A is heating up, and credit unions are leading the way. This week, Elevations Credit…

The multistate deal allows the firm to pay off unsecured loans Office Properties Income Trust announced the sale of four buildings this week. The buildings are in San Antonio and…

The departure of Bennett Goodman will reverberate across the company for years. The Bennett Goodman era comes to a close as the co-founder of GSO Capital Partners is stepping down….

The deal will see Brookfield take the majority of shares in the mortgage giant Brookfield Business Partners reached an agreement to buy a controlling stake in Canada’s largest private mortgage…