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Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.

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Private Credit: Coronavirus to Shift Market in Profound Ways

Private credit has been one of the fastest-growing areas of the credit market since the great credit crisis ended a decade ago. As banks stepped back from small and mid-market lending, especially in riskier areas like expansion and takeovers, funds sprang up to fill the void for a price. Institutions pensions placed enormous sums of money in private credit vehicles to capture higher yield as interest rates on other fixed-income investments declined steadily. The private credit markets have grown from just $237 billion in assets in 2008 to an estimated $812 billion today. That’s a growth rate of almost 12%. Some estimates say that 70% of small to midsize businesses are at least partially financed by private credit funds. Private Credit and Coronavirus Coronavirus will challenge and could reverse the rapid growth of private credit. It is going to be a lot harder to raise money in the private credit business until we know the full impact on the economy and financial markets. There is a real chance that pension funds, one of the biggest investors in private credit, will have to add to their equity portfolios. A significant market decline could trigger an asset allocation shift towards stocks. That…

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The DailyAlts Playbook: Jobless Claims, Ackman’s Short Bet, and “Billion-Airs”
March 26, 2020

This morning, markets are preparing for a record jump in the number of weekly jobless claims. We’ve seen projections ranging between 1 million and 3.4 million, well above the 281,000…

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Hedge Funds: Did Bill Ackman Make $2.6 Billion on the Coronavirus Outbreak?
March 25, 2020

Hedge fund manager Bill Ackman says Pershing Square Capital earned $2.6 billion by betting that the coronavirus outbreak would pummel markets. The news comes a week after Ackman appeared on…

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Private Equity Dry Powder is Ready to Deploy
March 25, 2020

Private equity managers will likely deploy more than $2 trillion in cash that has sat on the sidelines during the recent carnage and volatility in the financial market.

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Artificial Intelligence: Mobile AI and ML Platform Fritz Raises $5 Million
March 25, 2020

Mobile AI and machine learning startup Fritz AI will use the $5 million it raised in its recent funding to expand and accelerate its product launch. The round was led…

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Liquid Alternatives: BlackRock Floats ESG Linked Ultra Short ETFs
March 25, 2020

Investors remain undeterred by the market turmoil and sustainability remains an investing priority. Accordingly, BlackRock has launched three ESG-screened, ultra short term ETFs in Europe. The ETFs are denominated in…

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Digital Assets: CFTC Clarifies Definition of “Actual Delivery” in Crypto Trades
March 25, 2020

The U.S. Commodity Futures Trading Commission (CFTC) has finally shed light on a vexed question. What constitutes “actual delivery” of digital assets during their trade? In a unanimous decision, the…

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Venture Capital: Corona Launches Some Asian Businesses on a New Growth Trajectory
March 25, 2020

The coronavirus has delivered unexpected benefits for some businesses. Social distancing norms and country-wide lockdowns have given a boost to remote working. Companies in the health tech sector such as…

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FinTech: Revolut Expands Across the Atlantic; Dismisses Corona Concerns
March 25, 2020

Digital “neobank” Revolut, the London-based fintech unicorn, is rolling out its app-based banking service in the U.S. The upstart bank, which commenced operations in 2015, has already amassed over 10…

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Private Equity: American Investment Council Releases Deal Flow Report for 2019
March 24, 2020

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…

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Alternative Investments: Ares Capital Pens Shareholder Letter on Coronavirus
March 24, 2020

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)…

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