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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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Hedge Funds: Four Portfolio Managers Leave Citadel

Volatility has shaken the markets. The Dow had its worst quarter in history. The U.S. economy could see GDP fall by 30% this quarter. And four portfolio managers at Citadel won’t be around to see what happens next.  Bloomberg reported that the hedge fund fired four portfolio managers last week. Chris Conner, Tio Charbaghi, Steve Bergman, and Chip Fortson are out, according to the report. The four all worked in Citadel’s Global Equities group. The timing coincided with the hiring of Justin Lubell, a Point72 alum, to take over that group.

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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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