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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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Fintech: M&A In the Fintech Space Will Heat Up

One of the clear winners, if there is such a thing of the current economic situation, will be fintech companies. And we can expect to see a wave of fintech M&A as a result. There was already a trend towards digital platforms in the financial services industry. Now it’s just accelerating. Even those who prefer a hands-on face-to-face meeting on financial matters are turning to online platforms. They have to do so. Many banks are only offering drive-through services. This means more complex transactions are moving online. Why Fintech M&A Will Heat Up The shift to increased digital use in financial services will also accelerate the fight between incumbent banks, brokerages, and insurance companies to capture market share in a new digital marketplace. Underfunded startups will struggle. They lack the ability to spend billions of dollars a year like their larger financial counterparts. The smaller firms will also need to find funding sources to survive until economic activity begins to normalize. Fintech companies also have to be very careful about execution risk right now. Consider Robinhood, the online brokerage firm. Their system failed as markets became disrupted by the spread of the coronavirus virus in the United States. The future…

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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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