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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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FinTech: The LendingClub-Radius Bank Deal Could be the Precursor to Many More
February 20, 2020

The tables have turned. There was a time when banks sought to acquire fintechs for their technology and customer reach. But the acquisition of Radius Bancorp by LendingClub (NYSE: LC)…

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Digital Assets: Perpetrator of $147M Gemcoin Fraud Faces 10 Years in Prison
February 20, 2020

Over 70,000 victims lost $147 million in Gemcoins – the cryptocurrency that never was. There may be hope yet that the victims of the elaborate fraud committed by Steve Chen…

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Preqin: Private Debt Fundraising Lagged in 2019
February 19, 2020

A new report from Preqin shows that private debt activity slowed down over 2019. Dealmaking also lagged from 2018. The report shows that more than 200 private debt funds closed…

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Liquid Alternatives: Franklin Templeton Buys Legg Mason in $6.5B Deal
February 19, 2020

Franklin Templeton will become a $1.5 trillion behemoth after its acquisition, announced Tuesday, of rival Legg Mason for $6.5 billion including debt. It will pay $50 per share of Legg…

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Digital Assets: BitGo Goes The Whole Nine Yards; Buys Harbor, Subsidiaries and All
February 19, 2020

BitGo, the leader in crypto custody services, acquires Harbor, the top name in digital securities. It’s a diversification move aimed at a role in the entire transaction chain of digital…

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FinTech: LendingClub Is The First Fintech To Acquire a Bank
February 19, 2020

Personal lending platform LendingClub has agreed to acquire FDIC-regulated, Boston-based online bank Radius Bancorp in a cash (75%)-cum-stock (25%) deal worth $185 million. This is the first time that a…

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The DailyAlts PlayBook: Bill Barr’s Big Plans, The “Democratic Bachelor”, Milken’s Pardon, and Parabolic Space Companies
February 19, 2020

We begin in Nevada, where a man who supported communism in his 30s has taken a double-digit lead over his Democratic rivals. A new NBC News/Wall Street Journal poll shows…

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Venture Capital: Polychain Capital to Raise $200M To Back Crypto Startups
February 19, 2020

Polychain Capital’s second venture fund, which targets a war chest of $200 million, opened at the beginning of 2020. The crypto venture fund is accepting minimum investments of $1 million…

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Artificial Intelligence: Margrethe Vestager to Announce the EU’s New Regulations For AI Today
February 18, 2020

The EU’s rules set to be announced today will thrust on enhancing the region’s competitiveness but will do so with an emphasis on transparency, oversight, and protection of privacy.

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Liquid Alternatives: American Century May Unveil the Very First Non-Transparent ETFs
February 18, 2020

Two American Century funds may be the first to test waters as “actively managed” ETFs. Having received the SEC’s approval for its final key filing, Cboe BZX Exchange, Inc. is…

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