News

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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ICANN Pauses Sale of PIR to Ethos Capital for 30 days
December 18, 2019

ICANN, the internet registration firm, announced it will pause its sale of the .org domain registry to the private equity firm Ethos Capital. The delay will last 30 days as stakeholders…

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Francisco Partners and Evergreen Take LogMeIn Private
December 18, 2019

LogMeIn announced it has sold itself for $4.3 billion. The agreement allows the firm to go private thanks to a deal with Francisco Partners and Evergreen Coast Capital. The all-cash…

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Hong Kong Funds See $5 Billion in Outflows
December 17, 2019

Hong Kong capital flight may have hit as much as $5 billion for investment funds in 2019. The figure comes from the Bank of England, which released its Financial Stability…

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Activist Update: Nuveen Ohio Quality Municipal Income Fund Shareholders Send Saba Packing
December 17, 2019

Saba Capital, the closed-ended fund activist hedge fund, has been targeting the Nuveen Ohio Quality Municipal Income Fund (NUO). The activist holds about 8.7% of the Fund and proposed to…

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FinTech: As Investors Revolt, Fintech Lenders Get Picky on Borrower Quality
December 17, 2019

Easy lending to borrowers with sub-prime credit is winding down. Peer-to-peer lenders, or fintech lender platforms, are back-pedaling on their early promise to provide loans to people with sub-par credit…

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Goldman Sachs Prepares to Go Big on Alternatives
December 17, 2019

A Goldman Sachs alternative capital team will launch soon, according to a memo seen by Reuters. The firm said that it will form an alternatives capital markets and strategy group under…

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Digital Assets: A Bitcoin Video Lands Up On TikTok, Goes Viral
December 17, 2019

The Wolf of Bitcoin posted the bitcoin video on TikTok. The TikTok video zooms in through a door with says, “this is why GPU prices went up,” and then pans…

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Blackstone Infrastructure Partners Snaps Up Tallgrass Energy
December 17, 2019

Blackstone Infrastructure Partners has announced it will purchase the remaining shares of Tallgrass Energy that it doesn’t own. The latest offer of $22.45 per Class A share was a 22.7%…

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Darden Paper Shows Weak Hedge Fund Performance Post Financial Crisis
December 17, 2019

Hedge fund performance hasn’t lived up to the hype over the last ten years. This, according to the Executive Director of the Richard A. Mayo Center for Asset Management, University…

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Digital Assets: Fidelity Digital Assets Could Add Support for Ether in 2020
December 17, 2019

Fidelity’s crypto arm has already done a lot of work on Ethereum. Speaking in an interview with TheBlock, Tom Jessop, who is president of Fidelity Digital Assets, said the firm…

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