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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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Private Equity Giant Apollo Global Management-Backed Airline to Fuel Amazon Shipping
December 19, 2019

Sun Country Airlines is steaming up with Amazon.com to boost its package-delivery business. The low-cost airline – based in Minneapolis – will fly 10 Boeing 737s during the second quarter…

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Digital Assets: The ESCB has Proof-of-Concept of Anonymous Digital Currency
December 19, 2019

An ECB-coordinated project, conducted by the European System of Central Banks (ESCB), has established a proof of concept (PoC) for anonymity in digital cash, reports COINTELEGRAPH. The experiment does not…

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The Saudi Arabia Sovereign Wealth Fund Launches Fund of Funds Company
December 18, 2019

The Saudi Arabia Sovereign Wealth Fund has launched its own fund of funds firm. The Public Investment Fund will put 4 billion riyal – or $1.07 billion – forward to…

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Sun Life Financial Takes Big Stake in Real Estate Manager
December 18, 2019

Sun Life Financial and its alternative asset management arm just received a boost. Sun Life announced it plans to purchase an 80% stake in the infrastructure and real estate investment…

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Digital Assets: Fidelity Digital Assets Floats UK Arm to Sell Crypto Services
December 18, 2019

Fidelity Digital Assets has branched out across the Atlantic and incorporated its UK arm on December 16. The UK office will offer crypto services to European businesses, hedge funds, and…

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Venture Capital: Despite Negative Publicity, VC is Alive and Well
December 18, 2019

Despite the negative publicity surrounding it in recent months, venture capital is quite well, thank you. There was doom-and-gloom all around in the venture capital industry after the failed WeWork…

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Alternative Investments: Japanese Corporations Unlocking Value; ETFs to Buy
December 18, 2019

A Nikkei Quick survey showed that the percentage of Japanese companies that thought their shares were undervalued hit a high of 67% in 2019. This was the highest level since…

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Activist Update: Carl Icahn Sued by Xerox Investor Over Alleged Insider Trading
December 18, 2019

Shareholder activist Carl Icahn is in the dock for alleged insider trading when he bought a chunk of HP stock worth $ 1.2 billion. According to the Miami Firefighter Relief…

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Intel Scoops Up Israeli Artificial Intelligence Firm for $2 Billion
December 18, 2019

Intel Corporation has acquired Habana Labs for $2 billion. Habana Labs is an Israel-based developer of programmable deep learning accelerators for data centers. The deal will deepen Intel’s artificial intelligence…

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Alternative Investments: Bank of England Weighing Redemption Rejig for Open-Ended Funds
December 18, 2019

The Bank of England considers the liquidity mismatch in open-ended funds a potential “systemic risk.” After the recent debacles in the Woodford Equity Income Fund and M&G Investments property fund,…

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