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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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Workers Trust Artificial Intelligence More Than Their Bosses
November 19, 2019

Industrial automation is a major risk to jobs, according to thought leaders like Elon Musk. Even though robots could replace up to 800 million jobs by 2030, employees are happy…

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Your ‘Feel-good’ ESG Fund is on a Tear: But Do You Know Why?
November 19, 2019

Investors should examine the underlying holdings of their ESG-focused funds to determine hidden portfolio risk. CNBC’s Mitch Goldberg warns that a lot of the outperformance in many ESG funds has…

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AI Can Now Predict Lightning Strikes
November 19, 2019

An inexpensive tool combines machine learning and AI to forewarn of lightning bolts. A team of researchers from École Polytechnique Fédérale de Lausanne, Switzerland, has found a way to use…

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Private Equity Shop Ethos Capital Buys the .Org Domain Registry
November 19, 2019

Ethos Capital has purchased the Public Internet Registry, the group that maintains the .org registry. The private equity firm purchased the registry from the Internet society, according to a statement…

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Casino “Whale” Caesars in Eldorado’s Net: Shareholders Green Light Their Merger
November 18, 2019

Thanks to Carl Icahn’s activism, and an $8.58 billion acquisition kitty, Eldorado is in the driver’s seat in US casino operations. It will soon have Caesars in its fold. After…

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Taylor Swift Draws Private Equity Giant Carlyle into Her Music Spat
November 18, 2019

Tay Swift’s appeal for help has put Carlyle in the cross-hairs of both her fan following and Sen. Elizabeth Warren. In emotionally charged posts on Tumblr, pop star Taylor Swift…

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WeWork Layoffs to Total 4,000 to 6,000 Over Five Years
November 18, 2019

WeWork layoffs are coming, and the number could range between 4,000 and 6,000 employees. The WeWork layoffs are set to start this week. According to International Business Times, the company…

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Non-transparent ETFs Will Soon Get Active Managers Into the Act
November 18, 2019

Active fund managers will soon get to join the passive party via “stealth” ETFs. The SEC has granted asset managers T. Rowe Price, Natixis, Fidelity, and Blue Tractor preliminary regulatory…

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Are Climate Change Disclosure Lawsuits Coming for Asset Managers
November 18, 2019

Mark McVeigh is an environmental scientist from Australia. Although he will not have access to his retirement funds until 2055, he is suing his pension fund. 

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Icahn Capital, Berkshire Hathaway and the Battle Over Occidental  
November 18, 2019

Icahn Capital and Berkshire Hathaway were among the asset managers to release 13Fs last week. While Warren Buffett boosted his stake over Occidental Petroleum, Carl Icahn faced a setback in…

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