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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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Alternative Investments: Brookfield Asset Management Closes $20 Billion Global Infrastructure Fund
February 10, 2020

Brookfield Asset Management announced the closing of its fourth flagship infrastructure fund. The Brookfield Infrastructure Fund IV has total commitments of $20 billion. That figure surpassed its target goal of $17 billion…

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Hedge Funds: Kyle Bass Won’t Apologize for Twitter Feud on Coronavirus
February 10, 2020

Kyle Bass refuses to apologize for a deleted tweet that said the U.S. should allow coronavirus to “rampage through the ranks” of the Communist Party. Bass, the founder and CIO…

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Hedge Funds: Elliott’s Offensive on Evergy Unnerves Chamber of Commerce
February 10, 2020

Curtis Sneden, president of the Greater Topeka Chamber of Commerce is concerned about repercussions from activist hedge fund Elliott Management’s broadside against regional utility Evergy, Inc. (NYSE: EVRG). Feared activist…

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Private Equity: Sycamore Partners Eyes Deal to Purchase Victoria’s Secret
February 10, 2020

Sycamore Partners is considering a deal to purchase Victoria’s Secret from L Brands (NYSE: LB). CNBC reported a possible deal Sunday while citing sources close to the matter. Sycamore manages…

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Venture Capital: Snowflake’s Latest Funding Triples Its Valuation to $12.4B
February 10, 2020

Snowflake, the cloud data warehousing company, raised new funding of $479 million at a valuation of $12.4 billion. Dragoneer Investment Group and Salesforce led the round.

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The DailyAlts Playbook: China’s Repo Dealings, Sycamore’s “Secret” Buy, Dalio’s Latest Warning, and the $100 Billion “Book of Mormon.”
February 10, 2020

Today, the DailyAlts Playbook talks about China’s Repo Dealings, Sycamore’s “Secret” Buy, Dalio’s Latest Warning, and the $100 Billion “Book of Mormon.”

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Artificial Intelligence: Legal AI Draws Blood; Nabs Very Senior, Fraudulent Divorce Lawyers in Silicon Valley
February 10, 2020

Justine Falcon, a legal AI, is credited with busting a ring of divorce lawyers indulging in real-estate fraud in connivance with an inside contact in the District Attorney’s office in…

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Private Equity: Goldman Sachs to Launch $8 Billion Buyout Fund
February 10, 2020

West Street Capital Partners – the private equity arm of Goldman Sachs – will start fundraising next week. The PE shop is part of Goldman’s ambitious effort to raise $8…

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Digital Assets: Bakkt’s Bridge2 Acquisition Eyes Revolutionary Rewards-to-Crypto Conversion
February 7, 2020

The Intercontinental Exchange (ICE) announced Wednesday its agreement to acquire Bridge2 Solutions, a leading provider of loyalty solutions for merchants and consumers. ICE did not disclose the terms of the…

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Venture Capital: Cloud Security Company Netskope Raises $340 Million In A Series G
February 7, 2020

Cloud Security Company Netskope Raises $340 Million In A Series G led by Sequoia Capital Global Equities. The funding propels Netskope’s valuation to nearly $3 billion.

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