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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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Alexion Pharmaceuticals Rejects Elliott Demand for “Proactive Sale”
December 9, 2019

Alexion Pharmaceuticals will not obey Elliott Management’s demand for a “proactive sale.” The company says that the process of seeking a buyer doesn’t suit shareholder interest. The biotech firm has…

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Virtus Capital President: Market Could Fall 50% If This Happens
December 9, 2019

Virtus Capital managing partner Steven Gidumal warned that markets could tank should America elect Bernie Sanders, Elizabeth Warren or Pete Buttigieg.  “If a Socialist is Elected, the Market will sell off…

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Steve Cohen Looks to Boost Stake As MLB Team Owner
December 7, 2019

As uber-rich private equity and hedge fund billionaires are homing in on sports franchises, Steve Cohen is negotiating to up his current 8% stake in the Mets to 80%. Cohen…

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LPL Wades Into Pricing Wars; Axes Platform Fees on ETFs for Advisors
December 6, 2019

LPL Financial launched a no-transaction-fee, ETF network where advisors can trade ETF’s for free in their advisory accounts. LPL Financial partnered with three leading ETF providers – State Street Global…

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Goldman’s Private Equity Clients All Fear a Recession
December 6, 2019

Goldman Sachs clients are hunkering down for a recession, but are still looking for multi-billion dollar investment opportunities. Speaking on a Bloomberg interview, Alison Mass, Goldman Sachs Group Inc.’s chairman…

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SIFMA: US Economy Will Expand in 2020 But at a Moderate Pace
December 6, 2019

SIFMA’s bi-annual survey compiles economic focus from its Roundtable members, the chief US economists of over 20 global and regional financial institutions. SIFMA’s 2019 End-Year US Economic Survey forecasts US…

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Rivulet Capital Opposes Thoma Bravo Purchase of Instructure
December 6, 2019

Rivulet Capital has said it will vote against Thoma Bravo’s purchase of educational software giant Instructure. The firm – which owns 5.23% of Instructure – announced its intention in a…

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Global Blockchain Business Council: Asset Managers Still Don’t Get Blockchain
December 6, 2019

The Global Blockchain Business Council and Janus Henderson Investors have released a new survey this week. The two firms reveal that executives at asset management firms still struggle to understand…

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Apollo Global Management Expands Japan Operations, Appoints Partner
December 6, 2019

Apollo Global Management is expanding its private equity business in Japan. The firm has also appointed Tetsuji Okamoto as a Partner, Head of Japan, to lead its efforts. His role…

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Hedge Funds Are Buying Oil Contracts – Have You Noticed?
December 6, 2019

Hedge funds and oil prices aren’t like water and oil. Just two weeks after hedge funds sold off after an oil rally, they’re buying oil contracts once again. Reuters’ John…

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