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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Brazilian Digital Bank Neon Raises $94 Million To Triple Its Customer Base
November 21, 2019

Neon, a Brazilian digital bank, has raised US$94 million from top investors. The challenger bank has ambitious plans in a high-growth market. It will use the funds to triple the…

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Bill Gates-backed Startup Announces Clean Energy Breakthrough
November 21, 2019

Heliogen, a startup backed by Bill Gates, announced a breakthrough solar energy technology that could be a boon for heavy industry. Heliogen uses artificial intelligence and mirrors to reflect and…

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Activist Carl Icahn Is Shorting Mall Owners – Should You?
November 20, 2019

Activist Carl Icahn has taken another big bet against a sector. This time, the hedge fund manager is targeting mall operators. Icahn could earn $400 million or more if mall…

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Here’s What’s in the Apollo Management 13-F
November 20, 2019

The Apollo Management 13-F reveals what the private equity and alternative investment firm bought and sold in the third quarter. While we cannot see or benefit from their private holdings,…

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Fidelity Digital Assets Secures New York State License
November 20, 2019

Fidelity Digital Assets received a license from the New York State Department of Financial Services. The state regulator provided permission for the crypto-arm of Fidelity Investments to offer new services….

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Prison For the Man Who Tried to Scam The Mooch
November 20, 2019

Premium Point Investments trader receives 40 months in prison for a mismarking scheme. Anthony Scaramucci has received justice from the firm that caused Skybridge Capital about a $79 million loss….

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HarbourVest Closes Fifth Fund at $3 Billion
November 20, 2019

HarbourVest Partners announced it has closed its latest fund at $3 billion. The private equity shop announced the HarbourVest Partners Co-Investment Fund V at oversubscribed. its original target was $2.5…

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BB&T and Suntrust Receive Approval for Truist Merger
November 20, 2019

BB&T and Suntrust received approval for their merger of equals by the Federal Reserve System and the Federal Deposit Insurance Corporation.

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The Blackstone Group 13-F Recap for the Third Quarter
November 20, 2019

The Blackstone Group 13-F for the third quarter emerged this week. While we cannot see the private company holding of Blackstone in these filings, we can see what publicly traded…

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H.I.G. Capital Raises $3 Billion for New Fund in Less Than Four Months
November 20, 2019

H.I.G. Capital, the Miami buyout shop, has raised more than $3 billion for its new LBO fund. In less than four months, the firm completed a raise for its H.I.G. Middle…

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