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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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Alden Global Capital Buys Stake in Tribune Publishing
November 20, 2019

Alden Global Capital has purchased Michael Ferro’s 25.2% stake in Tribune Publishing. Ferro was the largest shareholder of the newspaper company. The deal priced the stake at 9 million shares…

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Commissioner Lee Focuses the SEC on a revamp of ESG
November 20, 2019

SEC Commissioner Allison Herren Lee wants the SEC to clarify its role and update disclosure requirements on ESG. In prepared remarks addressed to the Investment Advisory Committee (IAC), SEC Commissioner…

Here’s The Third Quarter KKR 13-F
November 20, 2019

The KKR 13-F emerged last week. Managers must submit 13-Fs every quarter. These forms list all the securities they own for themselves and their investors.

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Dennis Davitt Joins Hedge Fund Malachite Capital (And Other People on the Move)
November 19, 2019

Malachite Capital has hired David Davitt as a Portfolio Manager and Head of Malachite Equity Strategies.

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There’s Hope Still for a Bitcoin ETF; SEC Reviewing Bitwise Rejection
November 19, 2019

The SEC is revisiting its rejection last month of the proposal from Bitwise Asset Management for a Bitcoin ETF. In a document published on November 18, 2019, the United States…

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Blurring Lines of Distinction Between Banks and Fintechs
November 19, 2019

Fintechs and techs are trying more and more to masquerade as banks. Should banks take the battle into the fintech camp? Here’s an interesting viewpoint: Incumbent and traditional banks are…

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Spotify’s First Backer Northzone Closes $500 Million Venture Capital Fund
November 19, 2019

Northzone, the Swedish venture capital firm that backed Spotify out of the gate, announced its largest fund to date.

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Mitsubishi Prepares to Launch U.S-Based REIT
November 19, 2019

Japanese trading giant Mitsubishi Corp. will launch its first U.S.-based real estate investment trust.

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Buyout Shop Warburg Pincus Sells Accelya to Vista Equity Partners
November 19, 2019

Warburg Pincus has sold European airline services giant Accelya to private equity giant Vista Equity Partners. Multiple reports valed the deal at €1.5 billion.

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Recap of the Brookfield Asset Management Earnings Report
November 19, 2019

The Brookfield Asset Management earnings report emerged last week. The company had another solid quarter. Fee-related earnings before performance fees increased 35% over the prior-year quarter.

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