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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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HFR: New Hedge Fund Launches Decline in the Third Quarter
December 23, 2019

New hedge fund launches declined in the third quarter. This news reverses the trend of the first half of the year. The number of launches fell to its lowest level since…

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Adams Street Partners Raises $740 Million for 2019 Global Fund Program
December 23, 2019

Adams Street Partners announce the final closing of the Adams Street 2019 Partnership Fund Program. The firm locked up roughly $740 million in capital commitments. The global fund program received…

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Former Chicago Board Options Exchange Director Gets Seven Years in Prison
December 23, 2019

Alvin Wilkinson once worked as director of the Chicago Board Options Exchange. Today, he’s facing seven years in prison, according to a statement from the U.S. Attorney’s Office for the…

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Hedge Fund Marcato Capital to Shut Down, Return Capital to Investors
December 23, 2019

Marcato Capital Partners will showdown after two years of lackluster returns. Multiple media outlets reported the developments on Sunday. According to such reports, Marcato founder and PM Richard McGuire started…

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Private Equity Firm Lone Star Buys BASF Chemical Business
December 23, 2019

Lone Star, the Dallas-based PE shop, has purchased the Construction Chemicals business of BASF. The $3.51 billion deal will likely close in Q3 2020. The deal comes as BASF attempts…

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Former Hedge Fund BlueCrest Capital Now Sitting on a 50% Gain for 2019
December 23, 2019

BlueCrest Capital has earned 50% gains since the start of the year. This is a remarkably solid return after the company returned outside investor capital four years ago. The Financial…

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Aberdeen Standard to Manage LF Woodford Income Focus Fund
December 23, 2019

Standard Life Investments will now manage the LF Woodford Income Focus fund, according to Link Fund Solutions. The arm of Aberdeen Standard Investments will replace Neil Woodford, whose flagship fund…

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Community Banking: Evans Bancorp to Buy FSB Bancorp
December 20, 2019

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…

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Community Banking: Cambridge Financial Group Will Buy Melrose Bancorp
December 20, 2019

Cambridge Financial Group is acquiring Melrose Bancorp (MELR) for $25 a share in cash. The mutual holding company for Cambridge Savings Bank will receive quite a boost after this deal. Cambridge…

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Community Banking Merger: Kearny Financial Buys MSB Financial
December 20, 2019

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…

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