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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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The Illinois Pension Crisis Goes from Bad to Worse
December 6, 2019

The Illinois pension crisis just got much worse. According to reports, the state’s unfunded pension liabilities jumped $3.8 billion to $137.3 billion at the end of the fiscal year 2019….

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Pershing Square Capital Boosts Stake In Howard Hughes
December 6, 2019

Pershing Square Capital Management has increased its stake in Howard Hughes Corp., according to an S-4 filing with the SEC. Activist hedge fund manager Bill Ackman and his firm announced…

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Prescott Group Closes Strategies Fund I at $63.4 Million
December 6, 2019

Prescott Group announced the closing of its first real estate private equity fund. The Prescott Strategies Fund I closed with a total commitment of $63.4 million. The Fund will invest in…

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Canadian Listed ETF Assets Race Past the $200B Mark
December 5, 2019

Canadian ETFs have put on a powerhouse performance this year, crossing the $200 billion mark by end November.

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Black Tuesday: Banks on Both Sides of the Atlantic Announce Major Job Cuts
December 5, 2019

Black Tuesday: Banks on Both Sides of the Atlantic Announce Major Job Cuts. On Tuesday, December 3, Unicredit, Italy’s largest lender, said it planned to cut 8,000 bank jobs as…

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Mark Wiseman Out at BlackRock
December 5, 2019

Mark Wiseman found himself in the running to replace BlackRock Chief Larry Fink. Now he finds himself out of a job. Multiple media outlets report that Wiseman allegedly violated BlackRock’s…

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CBRE Talks U.S. Net-Lease Investment for the Third Quarter
December 5, 2019

CBRE, the global real estate investment and advisory firm, released the third quarter U.S. Net-Lease Investment Report.

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Liability Mismatch Strikes Again: £2.5 Billion M&G Property Fund in the U.K. Suspended
December 5, 2019

Is the Woodford Income Fund saga in replay? Property or unlisted shares – both are hard to sell. M&G Investments suspended dealings in its £2.5 billion M&G Property Portfolio with…

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CalPERS Fires External Equity Managers For Long-Term Underperformance
December 5, 2019

CalPERS, the largest pension system in the US, just took a scalpel to funds allocated to external equity managers. In a major restructuring of its investment process, CalPERS slashed allocations…

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Natixis Investment Managers Survey Shows Shift To Private Investments
December 5, 2019

Natixis Investment Managers has released the results of its survey of investment managers this week. Natixis surveyed 500 institutional investors, who collectively manage more than $15 trillion in assets. These…

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