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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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Go master Lee Se-dol Retires; Concedes AI is Better at the Game
December 3, 2019

South Korean Go master Lee Se-dol was the only human ever to defeat artificial intelligence (AI) Go player AlphaGo. In 2016, Go master Lee Se-dol managed to win one game…

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World Bank Re-Enters The Danish Green Bond Market; Six Nordic Funds Invest
December 3, 2019

World Bank issued its debut green bonds in Denmark in 1997, the first and longest maturity green bond issued in that market. After a hiatus of 22 years, the World…

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Dyal Raises Largest Fund Ever For Buying Stakes in PE Companies
December 3, 2019

Dyal Capital received a record commitment of over $9 billion for its Fund IV, with heavy oversubscription reached during the final hours. Dyal is a division of Neuberger Berman and…

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Melvin: FDIC Quarterly Banking Profile for the Third Quarter
December 3, 2019

The FDIC Quarterly Banking Profile arrived last week. For the first time in several years net income fell. Net Income is the nation’s banks totaled $57.4 billion during the three…

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Greenlight Capital’s Recent Struggles Continue in November
December 3, 2019

Greenlight Capital saw its fourth-quarter woes continue last month. According to Institutional Investor, the value hedge fund dropped 1.8% in November. That decline follows a 6% drop for the fund…

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PwC: Takeaways from the Real Estate 2020 Outlook
December 3, 2019

Real Estate 2020 Building the Future (a report from PwC) looks at the key trends in the commercial real estate market for 2020 and beyond.

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JP Morgan’s BBUS ETF: At 2 bps, the Lowest Fee ETF in the US
December 3, 2019

When it launched in March 2019, the JPMorgan BetaBuilders U.S. Equity ETF (BBUS) under-cut the then cheapest ETFs from BlackRock’s iShares and Charles Schwab, which had been the lowest-fee offerings…

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Christopher Hohn: Activist Manager, Climate Warrior
December 3, 2019

Sir Christopher Hohn, the head of activist fund TCI, has demanded the companies improve their pollution disclosures. Those boards that fail to meet his demands will not receive his vote….

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Huawei to Deploy Its Kunpeng 920 Chipset in World-Beating AI Platform
December 3, 2019

Huawei and the Pengcheng Laboratory released Cloud Brain II, a new AI computing platform, on Friday. The platform will use Huawei’s Atlas 900, claimed to be the world’s fastest AI…

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KKR Expects Lower Returns and Economic Growth
December 2, 2019

The KKR economic outlook arrived in late October. Following a holiday week, let’s take a look at the report. Henry McVey, the Head of Global Macro and Asset Allocation, has…

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