Garrett Baldwin

Granite Real Estate Investment Trust (GRP-UN) announced it will acquire eight income-producing properties in the United States. The deal comprises approximately 4.0 million square feet at a combined purchase price…

Bill Ackman is doing well in 2020.  In the wake of the COVID-19 pandemic, Pershing Square Capital Management has returned 22% to 27% this year. That easily tops the S&P…

Friday morning, I was out for dental surgery and now I have another surgery in two weeks. Three days ago, I would have told you that the biggest threat to…

Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will testify before the Senate Banking Committee. This is the first time that both men will update Congress on the…

THE DAILYALTS PLAYBOOK May 18, 2020 DailyAlts Playbook: Vaccine Hopes, Bitcoin Jolts, Softbank’s Woes, and Community Banking 101 PRIME OVERVIEW Good morning, With the Dow up 700 points on speculation…

The Dow shed 200 points this morning, and while I’m usually not overcommitted to what the Dow is doing, I am looking at geopolitical tensions. We’re back into a barking…

The COVID-19 crisis has hammered yet another company. This time, Commonwealth Bank of Australia said it had to book about $970 million in provisions to cover expected losses in the…

I’m back in the saddle today after a two-day break that was sorely needed. The combination of an arthritic flare and stomach issue has put me back at around 50%…

Last week, Tim Melvin talked with Jeffrey Chang of CBOE Vest. His firm offers investment strategies called “defined outcome portfolios.” These strategies help investors structure their portfolios to provide defined…

This morning, Johns Hopkins University announced that more than 3.65 million official cases of COVID-19 around the globe. States across the country will reopen their economies this week. Florida has…

As part of the conversion and reorganization, the Bank would become a wholly-owned subsidiary of a new holding company.  Shares of common stock of the Company held by persons other…

The U.S. Treasury Department isn’t concerned about the Federal debt. Reports indicate that Steven Mnuchin and friends are looking to borrow a staggering $3 trillion during the second quarter. The…

Mayinar Capital Advisers has started trading with more than $1 billion under management. The fund, which spun out of Tudor Investment Corporation, launched Friday. It has already become a shining…

This morning CNBC is covering the Berkshire Hathaway meeting the same way that ESPN covers the day after “The Last Dance” on ESPN. The big focus is on Buffett’s message…

The board of directors at ICANN rejected the sale of the .org registry to private equity firm Ethos Capital. The possible $1.135 billion deal effectively died today after months of…

Activist fund Teleios Capital Partners is pressing for changes on the board of Maisons du Monde.  The fund said it plans to push to appoint two independent board directors to the…

The coronavirus has now officially affected more than 3.27 million people, with nearly 234,000 deaths, according to Johns Hopkins University. Last night, China announced that the Hubei province – where…

Tinker Federal Credit announced Thursday that it will purchase “substantially all of the assets and operations” of Prime Bank in Edmond, Oklahoma. The target has roughly $285 million in assets, according…

This morning, all eyes are on the U.S. Department of Labor as it reports the latest figure on unemployment benefits across the United States. More than 30 million people are…

Pershing Square Capital founder Bill Ackman encouraged the U.S. government to approach bailouts the same way that Warren Buffett would. On a podcast, Ackman said that emulating the Oracle of…

Two prominent Democrats are moving to pass the Pandemic Anti-Monopoly Act, legislation to stop mergers while the U.S. deals with COVID-19. Senator Elizabeth Warren (D-Mass.) and Representative Alexandria Ocasio Cortez are pushing…

The Federal Reserve will kick off its two-day meeting to discuss monetary policy in the wake of the history coronavirus outbreak. The Fed has taken extraordinary steps to stimulate the…

CNBC examined a number of records tied to lobbying efforts. Reporters suggested that the firms were not attempting to obtain capital for the private equity industry. Instead, the firms aimed…

We start this morning with Scott Minerd’s take on the V-shaped recovery, unintended consequences of fiscal and monetary policy, and the moral hazard facing our economy. The CIO of Guggenheim…

Starbucks Corporation (NASDAQ: SBUX) has launched a partnership with venture capital firm Sequoia. The two companies will co-invest in China and look to launch “commercial partnerships with next-generation food and…

Morningstar, (Nasdaq: MORN) announced an agreement to acquire Sustainalytics, a globally recognized leader in environmental, social, and governance (ESG) ratings and research. Morningstar currently owns an approximate 40% ownership stake in…

The Federal Reserve will drive gold prices to $3,000. That’s a prediction by Bank of America this week. In a report titled, “The Fed Can’t Print Gold,” the bank sees…

BlackRock will place greater emphasis on climate issues moving forward. The alternative assets manager worries that firms will stop prioritizing climate and sustainability issues in the face of COVID-19. A…

Victoria’s Secret had a new majority owner in Sycamore Partners. However, the private equity firm is trying to walk away. As a result, shares of L Brands (NYSE:LB) – the…

The USO Fund LP has halted trading. Yesterday, the fund was largely responsible for pushing WTI May crude prices into negative territory. Crude prices effectively collapsed by 300%.  The United…

On Monday, oil futures fell into negative territory for the first time in market history. With expiration taking place today, producers were forced to pay traders to take crude off…

Activist hedge fund Quintessential Capital Management is shorting music streaming company Akazoo (NASDAQ: SONG). The news sent shares of SONG down more than 22% on Monday. 

A new report by MSCI said that bonds with higher ESG ratings outperformed the full bond market in Q1. The report suggests that highly rated ESG bonds can weather difficult…

McVey outlines his thoughts in his latest report titled Keep Calm and Carry On. He expects the economy to see a sharp downturn during the second quarter. McVey also expects…

THE DAILYALTS PLAYBOOK April 20, 2020 The DailyAlts Playbook Talks $0 Oil, How to Play Recreational Cannabis, and Why Macy’s Is Selling RE-backed Bonds… PRIME OVERVIEW Good morning, Please forgive…

Last week, more than 6.6 million new workers filed for unemployment benefits. This week, the figure topped 5.2 million, bringing the total number of Americans unemployed to 22 million. We…

Forbes magazine has published its annual Midas List of the top 100 people in the venture capital business. The list is put together by Forbes and TrueBridge Capital Partners ranks…

This morning, the Dow Futures projected a 400-point decline as investors continue to digest the ongoing status of the coronavirus. On Tuesday, President Donald Trump announced that the U.S. will…

This morning, financial companies started earnings season with a flurry of reports. Wells Fargo (NYSE: WFC) kicked off the day with news that it has set aside a large amount…

Aby Rosen, the co-founder and principal of RFR Realty, is dropping out of two previously announced deals in Manhattan. RFR is backing out on a deal to buy 900 Third…

THE DAILYALTS PLAYBOOK April 13, 2020 The DailyAlts Playbook Talks About Academic Suppression, Cuban 2020, Loan Standards, and Daft Punk to DJ Shadow PRIME OVERVIEW Good morning, We return from…

Arcadia Investment Partners faces criticism for an investment pitch that sought to generate returns from government coronavirus programs. A pitch reportedly suggested that wealthy investors could generate 22% to 175%…

Private equity-backed Envision Healthcare is struggling to deal with the dramatic loss of revenues. Patients have turned to telehealth resources and canceled ambulatory surgeries. Envision provides medical staff to hospitals…

Customer messaging platform provider Podium announced that it had closed on a $125 million Series C round of funding led by YC Continuity. Notable investors in the financing round included…

Tom Barrack, the head of Colony Capital (NYSE: CLNY), has hired several lobbyists to help assist the commercial mortgage industry. Barrack has been warning for weeks about the challenges the industry…

deVere Group released a report last week that found that the use of fintech apps in Europe grew by 72% in just a week. The Swiss-based consulting firm said large…

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…

A number of funds saw massive gains during the breakdown in the market between February 20 and March 20. The latest manager to generate headlines is Kevin Smith at Crescat…

Blackstone Group (NYSE: BX) is pulling out of a deal to buy an office property in Oakland, California, for $400 million. Blackstone had planned to use funds from its non-traded…

KKR & Co (NYSE: KKR) has shelved a plan to sell Singapore-based Goodpack, a Singapore based shipping containers, and logistics services.  They had bids for the company that was said…

The Dow Futures rallied more than 340 points after a dismal start to the second quarter. This morning, investors are paying very close attention to the weekly jobless claims from the…

Prices of Real Estate Investment Trusts and real estate operating companies plunged in March. Officers and directors of many REITs have stepped up to buy the shares the public has…

Steven A. Cohen, the founder of Point72 Asset Management, warned investors to be cautious about the current market environment. The fund manager suggested that the markets haven’t fully recovered from…

This morning, investors are starting to speculate on the March jobs report set for this Friday from the U.S. Labor Department.

Here is the latest update on insider buying and activist actions by alternative asset firms. As stock prices were falling once again on Tuesday, we saw more reports of activist…

Yesterday, the Federal Reserve dropped a bombshell on the markets. According to the central bank, up to 47 million Americans could lose their jobs, bringing the U.S. unemployment rate up…

THE DAILYALTS PLAYBOOK March 30, 2020 Today, the DailyAlts Playbook talks about Commercial Real Estate Woes, Crude Collapse, 2002 Music Reviews, and Ackman’s “Hell is Coming” Defense. PRIME OVERVIEW Good…

Taubman Centers (NYSE: TCO) sent a letter to tenants last week saying that they must honor their leases and pay rent despite the spread of coronavirus. In a letter dated…

Private credit has been one of the fastest-growing areas of the credit market since the great credit crisis ended a decade ago. As banks stepped back from small and mid-market…

The Dow Jones projected a 680-point decline in premarket hours as the markets selloff from a massive three-day rally. The mainstream press is back in cheerleader mode, proclaiming that the…

Paul Tudor Jones said Wednesday that he expects that the market will push higher by June. However, he expects there to be a very volatile market come April.  In an…

Bodenholm Capital, a large Swedish hedge fund with $511.2 million in AUM, is shutting its doors and returning money to its investors. A report indicates that the multi-strategy fund has…

The Norway sovereign wealth fund has tapped a new manager at the height of the coronavirus panic. The world’s fifth-largest sovereign fund has hired Norwegian-born Nicolai Tange to take control…

This morning, markets are preparing for a record jump in the number of weekly jobless claims. We’ve seen projections ranging between 1 million and 3.4 million, well above the 281,000…

Hedge fund manager Bill Ackman says Pershing Square Capital earned $2.6 billion by betting that the coronavirus outbreak would pummel markets. The news comes a week after Ackman appeared on…

Private equity managers will likely deploy more than $2 trillion in cash that has sat on the sidelines during the recent carnage and volatility in the financial market.

Global coronavirus cases surpassed 382,000, according to Johns Hopkins University. The ongoing surge in cases has fueled an “unprecedented” collapse in economic activity in Europe during March.

McKinsey and Company just published guidance for the private equity industry. In the paper titled “Private Equity and the New Reality of Coronavirus.” They suggest that “private equity (PE) firms…

THE DAILYALTS PLAYBOOK March 23, 2020 Today, the DailyAlts Playbook talks about Helicopter Money, Amazon’s New Mission, and the Crash that “No One Called” PRIME OVERVIEW Good morning: I wrote…

Value investor Seth Klarman has emerged from his bearish slumber. The head of Baupost Group announced he had spent $1.5 billion on new investments in recent weeks. Bloomberg reports that…

We start in Washington… but not on the stimulus plan. We’ll get into those details in a moment because the United States people have a new public enemy. This is…

In the largest deal since the coronavirus began crashing markets and economies, KKR (NYSE: KKR) is buying UK recycling company Viridor. It will acquire the firm from Pennon Group for…

Today, the DailyAlts Playbook talks the Surge in Corona Cases, Warnings from 2012, Universa’s Massive Win, and Party Bros.

Cohen and Steers issued a report this week detailing the firm’s outlook for real assets in light of the coronavirus and its impact on the economy. The virus is likely…

STOR Capital CEO Christopher H. Volk sent a letter to shareholders this week to address concerns over the potential impact of the coronavirus on the REITs’ property portfolio. STOR has…

DailyAlts market strategy Tim Melvin says that the game is changing for private equity. “We will see a pullback in deal multiples, and leverage levels are going to decline,” he…

Hedge fund manager Ray Dalio wrote this week that he is very concerned about the state of the economy. The combination of coronavirus and zero interest rates “really worries” him,…

The dramatic decline in equity markets due to the coronavirus could solve one of the private equity industry’s biggest problems. Last year, the industry raised over $300 billion in commitments…

ESG investment funds with long track records are beating new competitors as the markets continue to unravel. Roughly 400 of the 2,800 ESG funds were in positive territory for the…

SoftBank has announced a $4.8 billion buyback plan, news that brings joy to Elliott Management.  According to a report, SoftBank can purchase additional shares at the completion of the merger…

Billionaire investor Carl Icahn told CNBC on Friday that he has been shorting the commercial bond market. The activist investor said that his short was his “biggest position by far”…

Standard Life ESG investment will be a major trend in the year ahead. Standard Life Aberdeen has announced plans for 25 new funds centered around sustainability. According to Citywire, the…

Coronavirus has paralyzed the global markets, with Europe experiencing its worst one-day downturn in history. The FTSE shed 10.8%, the DAX was off 12.2%, and the CAC shed 12.5%. Here…

Hestia Capital Partners is part of a group of investors pushing for a board seat at embattled gaming retailer GameStop (NYSE: GME).  A report indicates that Hestia joins Permit Capital…

Today, the DailyAlts Playbook talks about Bond Downgrades, the ETF bomb, Bitcoin’s Bust, Blackstone’s Credit Lines, and Oil Slumps.

Today, the DailyAlts Playbook talks about Coronavirus Stimulus, Biblical Warnings, Vertical Hedge Fund Neighborhoods, and Why Kyle Bass is Sitting on the Sidelines Right Now.

Call it the great bust of passive investing? The IMF warned Wednesday that regulators and authorities need to start watching asset managers and ETFs over the threat that they could…

A new report from Opimas states that the value of ESG data could top $1 billion by next year. The firm’s newest report  ESG Data Market: No Stopping Its Rise…

Coronavirus has hit one of Wall Street’s top financial shops. Multiple media outlets report that an employee at Point72’s Hudson Yard’s office has contracted Covid-19. The Wall Street Journal was…

Goldman Sachs had a call on Monday that features health and economic experts on the state of the Coronavirus outbreak. The call indicated that China is no longer the driving…

U.S. prosecutors said Wednesday that they oppose the release of Bernie Madoff from prison even if he is dealing with kidney disease. In a statement, prosecutors said that Madoff has…

Sequoia Capital issued a huge alarm this week in a memo to founders and the CEOs of its portfolio companies. “Coronavirus: The Black Swan of 2020” discusses the impact of…

THE DAILYALTS PLAYBOOK March 5, 2020 Today, the DailyAlts Playbook talks about why it’s Time to Ditch T-Mobile, Berkshire’s Delta Buy, a Bearish Bill Ackman, and the Global Response to…

S&P Global Market Intelligence surveyed private equity dealmakers from around the world. The study found that less than half of them thought 2020 would see as much deal activity as…

Essentia Analytics has added Martin Fincham to its Board of Directors. The company is a provider of behavioral data analytics and consulting for professional investors. Fincham comes to the firm with three decades…

Brown University has divested 90% of its holdings in companies that extract fossil fuels. In a letter to the campus Wednesday, President Christina Paxson announced the decision. The school’s endowment…

Blackstone CEO Stephen Schwarzman said it “remained unclear” if the Fed can restore economic confidence following the coronavirus outbreak. The Federal Reserve slashed interest rates by 50 basis points on…

Blackstone (NYSE:BX) announced today that funds managed by Blackstone Energy Partners have completed the acquisition of NRStor C&I L.P. (“NRStor”). NRStor is a Toronto-based developer of battery storage solutions, targeting…

Pershing Square Capital founder Bill Ackman sent a letter to investors about the threat of coronavirus on Tuesday. His statement came shortly after the Federal Reserve slashed interest rates by…

Quadria Capital, a Singapore-based private equity firm, announced it has closed its second fund. According to reports, the fund reached its maximum of $595 million. The firm plans to invest…

Edward Bramson and his fund Sherborn Investors Management is waging a campaign to oust Jes Staley from the helm of Barclays (NYSE: BCS). According to reports, Sherborne is seeking his…

This morning, markets continue their rebound from last week’s brutal selloff. However, this appears to be a “technical” bounce back driven heavily by futures trading. It’s clear from the data…

Sarah Riopelle is a senior portfolio manager at RBC Global Management and oversees a $107 billion portfolio. She’s effectively responsible for the asset-management division at the Royal Bank of Canada,…

CVC Capital Partners is reportedly seeking to raise up to 20 billion euros for a new flagship fund. That fund, in U.S. terms, is worth roughly $22 billion.  Reuters reports…

Hedge fund billionaire Chris Hohn has launched a platform aimed at reducing financing for coal-fired power plants. The ESG crusader wants central banks to effectively stop the financing of coal…

The DailyAlts Playbook talks about Tom Steyer’s Suspension, the ECB’s Self-Plagiarism, and Tough Times for Masayoshi Son.

The DailyAlts Playbook talks about ESG Bubbles, Sharp CEF Discounts, Brexit Demands, and Bill Ackman’s Bullish Views on Burritos. The Dow Jones projects another triple-digit loss as the worst selloff…

Former hedge fund manager Whitney Tilson has called Berkshire Hathaway (NYSE: BRK.A) the to retirement stock. Tilson, who now writes for Empire Financial Research, issued a note this week praising…

RWC Partners fund manager Graham Clapp warned that sustainable investing trends are poised to form a possible bubble in the markets. He compared it to the tech boom of the 1990s….

We start today with the first U.S. coronavirus case of an unknown origin. The CDC is not aware of how a person in Northern California obtained the virus. However, they…

Hedge fund assets under management (AUM) reached an all-time high for the industry by the end of 2019. A new report by Preqin shows that assets reached $3.66 trillion thanks…

The Democratic candidate is pushing for the BlackRock chief to do more in his firm’s pledge to address climate change. In a letter released today, Warren asked Fink to support…

We start on Wall Street, where the stock futures aren’t pointing toward any significant recovery. We just experienced the worst two-day performance in four years as investors sound the alarm…

The Financial Writers Society has named its 2020 Board of Directors. FWS is a tax-exempt trade association open to those with an interest in financial writing. Its members include reporters, editors,…

A new Pitchbook report shows that private equity shops are snapping up an interesting alternative investment. Flush with dry powder, PE shops have been snapping up VC-backed startups, according to…

Activist hedge fund Third Point has taken aim at the 172-year-old insurance giant Prudential (LON: PRU). According to a new filing, Dan Loeb’s shop wants to split the firm into…

A new Preqin report shows that the alternative assets industry has reached “14 figures.” Total AUM surpassed $10 trillion for the first time in 2019. The industry added at least…

We start today in Asia, where the road to recovery from Monday’s massive selloff begins. Although the Nikkei lost 3.3% in overnight trading, Chinese markets were largely flat. The Dow…

Arbor Realty Trust (NYSE: ABR) has released a report that examines the state of the single-family rental (SFR) industry. Arbor believes that 2019 will be looked back on as the…

Santander Asset Management announced it has launched a new hedge fund called Santander Patrimonio Diversificado. Its portfolio will invest in fixed income, equities, and absolute return funds. It will also…

Today, the DailyAlts Playbook talks Commodity Swings, Public V. Private Gains, Cannabis Expectations, and Why You Shouldn’t Hide Important Financial Documents in Your Fishing Gear.

Intuit (NASDAQ: INTU) – the firm behind Turbo Tax and QuickBooks – is buying tech portal Credit Karma. The Wall Street Journal reported Sunday that the two companies could announce…

Pierre Andurand and his hedge fund had a tough start to the year. Andurand Capital Management shed 8% last month due to the slump in oil-and-gas commodities, according to a report…

We start today with the coronavirus. U.S. markets followed Europe lower on news that China reported 800 new cases of the disease overnight. The new total brings us to more…

Coldwell Bankers, part of Realogy Holdings Corp (NYSE: RLGY), has released its annual Global Luxury Real Estate report. Titled simply “The Report 2020,” it analyzes the latest trends and data provided by leading…

Elliott Investment Management has built a 3.04% stake in Dutch insurer NN Group (OTCMKTS: NNGRY), according to a filing with AFM this week. Paul Singer’s hedge fund said that the investment…

IQHQ has come off a recent successful $770-million capital raise and acquired 109 Brookline in the Fenway section of Boston for $270 million. The building was acquired form Commonwealth Equity…

A new PwC report notes that artificial intelligence will play a massive role in boosting the global economy. The report states that AI will bolster the world to the tune…

The DailyAlts Playbook talks about Bloomberg’s Debate, “Summer” as a Verb, Victoria’s Secret Sale, and Goldman’s Warning.

A new report from Preqin shows that private debt activity slowed down over 2019. Dealmaking also lagged from 2018. The report shows that more than 200 private debt funds closed…

We begin in Nevada, where a man who supported communism in his 30s has taken a double-digit lead over his Democratic rivals. A new NBC News/Wall Street Journal poll shows…

We start the day with the U.S. markets in the red after Walmart Inc. (NYSE: WMT) missed earnings and Apple (NASDAQ: AAPL) warned about the impact of the coronavirus.

Activist hedge fund Kerrisdale Capital has taken a short stake in Match Group (NASDAQ: MTCH). The online dating operator owns Tinder and Match.com. The activist fund expects that shares will…

BlackRock ESG ETFs have emerged as a popular draw among institutional investors. This week, the alternative investment manager announced a $600 million investment from Finland’s largest pension insurance firm. Ilmarinen…

Rishi Sunak has become the new U.K. Chancellor after the sudden resignation of Saji Javid. The news comes amid a shakeup in Prime Minister Boris Johnson’s cabinet. It was a…

SoftBank investors are refusing to take part in the Vision Fund 2 unless the Japanese conglomerate turns performance around. The first $100 billion fund has struggled with performance due to…

Pitchers and catchers report to camp Wednesday, which offers some reminder that warmer weather will eventually find itself returning to the Northeast. That said, the Baltimore Orioles’ roster looks like…

The National Association of Real Estate Investment Trusts (NAREIT) commissioned advisory and consulting firm EY to examine the economic impact that REITs have on the US economy.

Fund managers had been dumping oil over the last few weeks, but resistance wouldn’t break down below $49 per barrel. Short sellers appear to have taken some profits off the…

Brookfield Asset Management announced the closing of its fourth flagship infrastructure fund. The Brookfield Infrastructure Fund IV has total commitments of $20 billion. That figure surpassed its target goal of $17 billion…

Kyle Bass refuses to apologize for a deleted tweet that said the U.S. should allow coronavirus to “rampage through the ranks” of the Communist Party. Bass, the founder and CIO…

Sycamore Partners is considering a deal to purchase Victoria’s Secret from L Brands (NYSE: LB). CNBC reported a possible deal Sunday while citing sources close to the matter. Sycamore manages…

Today, the DailyAlts Playbook talks about China’s Repo Dealings, Sycamore’s “Secret” Buy, Dalio’s Latest Warning, and the $100 Billion “Book of Mormon.”

West Street Capital Partners – the private equity arm of Goldman Sachs – will start fundraising next week. The PE shop is part of Goldman’s ambitious effort to raise $8…

DailyAlts Playbook talks about Trump’s Latest Fed Pick, the Credit Suisse Shakeup, ESG Battles and Bubbles, and the Arrest of “Michael Jordan.”

Vanguard, the world’s largest investment firm, has entered the private equity business. The firm will provide PE in a suite of new funds and target pensions, endowments, and other institutions….

Institutional investors are pushing hedge funds to adopt ESG in their investment decisions. These investors see ESG investing as a way to serve their own long-term interests and wider society. This…

Pershing Square Capital has exited its stake in Starbucks Corporation (NASDAQ: SBUX). According to reports, Bill Ackman’s hedge fund announced the divestiture during an investor presentation today. 

This morning, we start with Tesla Inc. (NASDAQ: TSLA). The parabolic rise of Elon Musk’s electric vehicle company has seen its stock jump by 100% to start the year.  Short sellers…

Steven Cohen and his pursuit of the New York Mets might be coming to a close. According to MarketWatch, the hedge fund manager is walking away from the Wilpons. Cohen…

Humana (NYSE: HUM), the U.S. insurance giant, has launched a joint venture with a private equity firm. The agreement will see Humana launch new primary-care centers for Medicare Advantage enrollees….

Starboard Value is pushing for eBay (NASDAQ: EBAY) to sell or spin off its Classifieds Group. The hedge fund took a stake in the company one year ago beside fellow…

The morning, we start in Iowa. For years, political analysts have asked why Iowa should be the first voice in the primary season. Last night, Iowa proved it shouldn’t play…

Blackstone Tactical Opportunities funds completed the recapitalization of Phoenix Tower International. The deal will allow the wireless communications infrastructure provider to execute on its global infrastructure business plan.. Tac Opps has…

Chinese mutual funds are facing new regulatory scrutiny in the face of a sharp selloff Monday. During the first day since the Lunar New Year holiday, the Shanghai Index fell…

The morning, we start in China, where a massive selloff hit the Shanghai Index during the market’s first day back from the Lunar New Year celebration. The Index fell by…

We start today with the arrival of a new Europe. The United Kingdom will depart the European Union tonight after a long, drawn-out process dating back to a stunning 2016…

Unigestion, a Swiss-based PE firm, has launched a new Luxembourg-domiciled fund. Its Unigestion Secondary V will focus on secondary opportunities and deals below 50 million euros. “Unigestion follows a rigorous…

Catalyst Opportunity Funds, an investment firm focused on Opportunity Zone investments, has completed investments for its first three projects. Catalyst’s initial developments will convert underutilized real estate into high-impact office,…

Biodiversity is now in the same league as climate change from an ESG perspective. AXA Investment Managers, BNP Paribas Asset Management, and Sycomore Asset Management want investors to focus on…

Today, the DailyAlts Playbook talks Fed Futures, Woodford Haircuts, a Terrible HBO Spinoff Idea, Joe Biden’s Awful Voter Pitch, and the Best Acquisition Case for Apple.

Steve Pagliuca, the co-chairman of Bain Capital, refuted claims made by Democratic frontrunners about the role of private equity. During the World Economic Forum in Davos, Switzerland, Pagliuca touted the…

State Street Global Advisors will vote against companies that lag behind on ESG standards. The company stands as one of the largest shareholders in public companies due to its stance…

Martin Shkreli now faces new charges over the alleged price inflation of the drug Daraprim. The infamous “Pharma Bro” and his hedge fund bought the rights to the drug that…

U.S. equity markets are pushing higher Tuesday after their worst day since October. Health experts are calling for calm and insist that coronavirus has been contained for the moment. Chinese…

Act Analytics announced the launch of a new Environmental, Social and Governance (ESG) portfolio analytics platform. The new platform allows RIAs to compare, contrast, and construct customized ESG portfolios. The…

Tim Melvin is attending the conference in Phoenix this week. At the top of the list is competition form fintech firms and big tech companies. Millennials are more focused on…

Today, the DailyAlts Playbook talks Kobe Bryant’s legacy, the Monday meltdown, insider trading, and impeachment.

This morning, the Dow Jones was pushing higher despite ongoing concerns about China’s coronavirus outbreak. Today is also the conclusion of the World Economic Forum, an event swarming with anti-capitalist…

The Global X FinTech Thematic ETF (FINX) has rallied more than 32% over the last 12 months. Shares have climbed from a 52-week low of $24.49 per share to $32.40…

CITIC Capital, the Chinese private equity firm, is bidding for a 22% stake in the Chinese and Hong Kong businesses of McDonald’s Corp. The firm is looking to put some…

This morning, the Dow Jones is in reverse as President Donald Trump returns from Davos, Switzerland to Washington D.C. Once he arrives home, he will face the ongoing media circus…

The KKR Next Generation Technology Growth Fund II has closed. KKR announced a $2.2 billion fund dedicated to growth equity investment opportunities in the technology space in North America, Europe,…

Blackstone CEO Steve Schwarzman confirmed our concerns about dry powder and higher valuations during an interview at the World Economic Forum. Schwarzman discussed the lack of opportunities with CNBC. The…

Kayne Anderson Real Estate has secured a prestigious investor. Goldman Sachs Asset Management has taken a passive minority investment in the firm through its AIM Petershill program. Kayne Real Estate…

Today, the DailyAlts Playbook talks the World Economic Forum, Citadel’s return to China, Elon Musk’s latest distraction, and Guggenheim Partners’ warning.

Hedge fund performance was strong at the end of 2019. The Preqin All-Strategies Hedge Fund benchmark returned +2.00% in December, bringing the 2019 return to +11.58%. Funds of hedge funds gained…

NYMEX and ICE WTI data show that hedge funders were net sellers of crude oil for the week ending January 14. Funds sold roughly 99 million barrels in the six…

Kirkoswald Asset Management will stop accepting new investors when the fund hits nearly $2 billion. Reuters reports that the two-year-old fund will close itself to new investors at the end…

The Global Alternatives Outlook was released by JPMorgan Asset Management this week. The report provides a 12-18-month outlook across key alternative asset classes. The report also the views of the CEOs, CIOs,…

WeWork leasing numbers plunged in the wake of its failed IPO. A new report from CBRE reveals that the company saw a 93% decline in leasing activity in the fourth…

FTSE Russell has launched a new fixed income offering in Europe that weighs factors in each country’s efforts to mitigate climate change. The FTSE Climate Risk-Adjusted European Monetary Union Government…

ValueAct founder Jeffrey Ubben expressed his excitement this week that BlackRock chief Larry Fink had sounded an alarm around climate change. The founder of the $17 billion hedge fund has…

This morning, U.S. markets are ticking higher as markets largely ignore Impeachment drama in Washington and cheer the Phase One trade deal between the U.S. and China. The dollar is…

The Investment Company Institute cited the largest outflows of capital from mutual funds and ETFs since September. During the first full week of 2020, fund investors pulled $13.1 billion out…

Bridgewater Co-CIO Greg Jensen believes that gold prices could hit $2,000 or more. Jensen told the Financial Times this week that geopolitical uncertainty and inflationary policies could press gold at least 30%…

Today, the DailyAlts Playbook talks a Ponzi Scheme that bilked Berkshire Hathaway, infrastructure expectations, Larry Fink’s climate change letter, and Bridgewater’s take on gold.

Marty Chavez walked away from Goldman Sachs in late 2019. Now, he’s sitting on the board of artificial intelligence startup Paige. The New York-based firm uses AI to detect, diagnose,…

Voya Financial may become a possible takeover target in the coming months, according to the Financial Times. The report indicates that the former ING Group insurance unit and retirement plan…

New York advisory Aksia will purchase private equity consultancy TorreyCove Capital Partners. The deal will see the two firms marry under the name Aksia. Aksia has specialized in private credit…

Lazard Asset Management has made yet another splash in thematic investing. The firm has launched a new fund employing a high-conviction global equity strategy. The company announced the strategy behind…

Online bank Marcus from Goldman Sachs Group has finally come to mobile devices. The Wall Street financial giant launched its long-awaited app for customers last week. The lack of an…

Westbeck Capital Management is turning its attention to beaten-down Canadian energy companies. The energy hedge fund believes that these firms will have stronger cash flows in the year ahead compared…

Tribune Publishing buyouts are coming. And it didn’t take long for newsroom jitters to become a reality. Just two months after Alden purchased a 32% stake in the publisher, it…

The Reserve Bank of Australia is the latest central bank to suggest that the Libra cryptocurrency project will not work. It also questioned the viability of central bank digital currencies…

Hedge fund Citadel issued a statement last week that distanced itself from a former trader who profited from non-public information. Michael Mindlin worked for Citadel between June 2016 and June…

Garry Kasparov, the great chess grandmaster, said that AI won’t destroy, let alone replace, mankind. His comments came over the weekend in an interview with Gerry Baker of Fox Business.

The State of California could soon overhaul the regulatory oversight of financial technology companies. Governor Gavin Newsom released details of his 2020-2021 budget. Inside, the proposal includes a provision to…

PointState Capital has moved to stop investors from pulling all of their capital in full. According to an investor letter seen by Bloomberg, the company will only allow recent redemption…

Casper Sleep, the online mattress retailer, has filed for its initial public offering. According to an SEC filing, the company has planned an offering at $100 million. Morgan Stanley, Jeffries…

Today, the DailyAlts Playbook talks PointState’s redemption woes, Crypto Whale dominance, a sleepy IPO, and a contest to go around the moon with a love-starved Japanese billionaire.

The browser extension Honey just lost a huge source of opportunity. Just weeks after PayPal purchased the browser extension for $4 billion, Amazon has told customers to uninstall it. The…

WisdomTree is pushing to launch a regulated cryptocurrency in the U.S. markets. The firm’s stablecoin would be pegged against a basket of assets – which could include government debt, the…

Pitchbook data reveals that private equity firms shattered fundraising records last year as investors seek alternatives to traditional markets. A new report shows that PE shops raised more than $300…

Climate Action 100+, an investor network that is pushing for disclosures into carbon emissions, has inked BlackRock to its roster. The three-year-old investor group is pushing for commitments to reduce…

TPG has announced plans to launch a new strategic fund that emphasizes stakes in public companies. The activist bend operates on a different approach. Rather than taking the hostile approach…

Today, the DailyAlts Playbook talks “Clown Airplanes”, Russian and Chinese-focused funds, AQR staff cuts, Brexit Beginnings, and an offer for our new readers.

Mercom Capital Group reported that corporate funding for solar development topped $11.7 billion in 2019. That figure represented a sharp increase of more than 20% from the previous year. The…

CrunchBase says that between 2010 and 2019, roughly $1.5 trillion spilled into VC deals. The bulk of that figure came from an acceleration of deal-making over the last few years, the…

Insight Partners announced plans to purchase Swiss data management firm Veeam Software. The private equity shop plans to purchase the company for $5 billion. Insight will make the purchase about…

Social media firm Facebook announced that it has banned “deepfake” videos from their platform. These altered videos – typically incorporating AI – appear that people are doing or saying something…

AQR Capital has $186 billion under management. Its $2.1 billion Style Premia Alternative Fund lost 8.2% in 2019. And now, the company is cutting its staff for the second straight…

Today, the DailyAlts Playbook talks the largest debt swell since the 70s, Black Swan babble, more hedge fund returns, insider trading codes, and AI’s shift into stock-picking.

Citigroup wants to bring hedge-fund-like credit investments to accredited investors. The firm is teaming up with online platform YieldStreet to bring $2 billion in assets to mass affluent investors, according…

JPMorgan manages $2.2 trillion for wealthy clients across the country. Its institutional alternative investment arm (JPMAAM) continues to grow and specialize for high-net-worth individuals. So, it’s always intriguing to hear…

The DailyAlts Playbook talks Elon Musk’s dance moves, a pension battle over the XFL, the latest round of hedge fund performance numbers, U.K. financial crimes, and new AI guidelines. 

Neil Woodford and his CEO Craig Newman earned 9 million and 4.8 million pounds in dividends in the year leading up to the collapse of Woodford Investment Management.

Don Steinbrugge of Agecroft Partners released his annual list of hedge fund trends and predictions for 2020. He covers a few common bases: Hedge fund assets will set a new…

Today, the DailyAlts Playbook talks pension allocations in 2020, the cost of Carlos’ freedom, Blackstone Group’s 2020 Surprises, and a ridiculous valuation for TopGolf.

M&G – the British insurer and asset manager – plans to continue the suspension of its 2.5 billion-pound property funds. The company made the announcement after it sold 70.4 million…

Pershing Square 2019 performance came in at 58.1%. The huge windfall comes after four straight years of losses. That return was also double the return of the S&P 500. In…

Byron Wien, Vice Chairman of Blackstone Group, and Joe Zidle, Chief Investment Strategist in the Private Wealth Solutions group, released a list of “Ten Surprises for 2020.”

Marshall Wace has taken a short position against Danske Bank. The Danish FSA said that the firm has a short position that reaches the threshold of 0.5% of issued shares. 

Broadcast M&A picked up last quarter. According to media research firm Kagan, broadcast station M&A hit $900.0 million in Q4 2019.

Artificial intelligence supremacy has become a hot topic in recent weeks in the medical community. This week, the journal Science Translational Medicine published research on the advancements of AI in…

Vanguard ETF commissions and stock commissions don’t exist anymore. The firm has expanded its commission-free online trading for stocks and options to all Vanguard Brokerage clients.

Today, the DailyAlts Playbook talks zero-fee hedge funds, where REITs go from here, our chat with Daniel Rasmussen, and the CFTC manhunt for a crypto manager and his client’s $147…

Green Street Advisors analyst David Guarino says that data consumption trends will accelerate in the future. This provides support to his thesis that data center demand will increase. It also…

MIG Capital is pushing Groupon to push its CEO Richard Merage on the shopping-deal provider’s board of directors. The activist fund with $1 billion in AUM owns 5% of Groupon…

Today, the DailyAlts Playbook talks about tensions in the Middle East, the fall of hedge fund fees, capitalists without capitalism, and the rise of Boise, Idaho.

Willow Oak and Focused Compounding will launch a new private investment partnership. They have called it the Focused Compounding Fund. The fund will invest in what Portfolio Managers Geoff Gannon…

ALPS Advisors announced the investment strategy for the new Exchange Traded Fund called the ALPS REIT Dividend Dogs ETF (RDOG). The strategy applies the “Dogs of the Dow Theory” to…

The Horseman Global Fund saw a 35% decline in 2019 as aggressive bets against the market failed to deliver. The fund hiked its net short position to a record 111%…

The Motion Code Card has hit Spain. Deutsche Bank launched the innovative credit card this week in a partnership with industry leaders. The card contains an advanced CVC code that alters…

Hedge fund Greenlight Capital finished 2019 up 13.8% after a small dip in December. The iconic value-oriented fund saw a 0.3% decline last month to finish off the year, according…

Bernhard Capital Partners will invest in Ascension Wastewater Treatment, the largest private sewer utility operator in Louisiana. The private equity firm specializes in services and infrastructure.

Alternative investment manager Blackrock (BLK) has issued the Blackrock 2020 forecast. The firm believes that growth will pick up next year with little risk of inflation. They also warn that…

Alan Patricof, the founder of Apax Partners, sits among a very powerful list of bundlers for potential Democratic nominee Joe Biden. Over the weekend, Biden released the list of bundlers,…

Millennial investors trust Bitcoin more than Berkshire Hathaway, according to a new report from Charles Schwab. The investment bank examined self-directed portfolios of millennial investors. It found that the majority…

Tom Steyer used to run a hedge fund. Now, he wants to be the President of the United States. His campaign strategy, however, is quite unprecedented. Both Steyer and Michael…

Private equity investment in Germany topped out at about 32 billion euros, according to EY. That figure represents a year-over-year increase of about 80%, the firm said this week. Private…

James Altucher is best known for his hedge fund, his Choose Yourself messaging, his iconic hair, and an ultra-bullish stance on Bitcoin. The former hedge fund manager’s crypto-newsletter advertisements also…

Crypto hedge funds shuttered at a rather alarming click in 2019. According to Crypto Fund Research, 70 such funds had closed by early December. That means there was still time…

Octopus Ventures, a VC firm based in London, has sold its stake in virtualization tech firm Zynstra. Reports state that the deal was worth £100 million and the buyer is…

The WeWork golden parachutes emerged from company documents over the weekend. Earlier this fall, the real estate firm received a bailout from SoftBank. The Financial Times recently gained access to…

Josh Samuelson is departing PointState Capital, the firm he co-founded. According to a letter from co-founder Zach Schrieber, Samuelson “has decided to retire from investment management.” The manager plans to…

2020 IPOs will generate a lot of buzz in the coming months. With the S&P 500 ripping to record highs after a more than 26% return, how will venture-backed firms…

Baidu Artificial Intelligence has overtaken two of the world’s leaders in the industry. The Chinese tech giant topped Microsoft and Google in a recent artificial intelligence competition.

Hedge fund returns in 2019 averaged 8.5% but fell well short of the broader market rally. Heading into Monday, the S&P 500 has gained 29.1%. HFR says that the firm…

Switzerland president Ueli Maurer took a swipe at the Facebook Libra project as he prepares to walk out the door. The nation’s finance minister and the outgoing president called for…

Kennedy Wilson has locked up $775 million for a new fund. The Beverly Hills-based firm closed fundraising of the Kennedy Wilson Real Estate Fund. The real estate investment firm’s new…

ClassPass could hit a $1 billion valuation, according to Reuters. A new report reveals that the fitness subscription app aims to raise another $285 million.

First Eagle Investment Management with acquire THL Credit, an alternative credit manager with approximately $17 billion in assets under management. The deal will likely close in the first quarter, according…

Alberta Investment Management is linking up with private equity giant KKR to purchase a big stake in TC Energy’s Coastal GasLink Pipeline. The Canadian pipeline project is part of a…

Negative interest rates have added another casualty. According to Pensions and Investments, 50.7% of European government bonds and 28.3% of euro-denominated investment-grade corporate bonds have negative yields.

Morgan Stanley Infrastructure Partners (MSIP) announced it has raised $5.5 billion for North Haven Infrastructure Partners III. The private infrastructure investment team within Morgan Stanley Investment Management (MSIM) raised that…

New hedge fund launches declined in the third quarter. This news reverses the trend of the first half of the year. The number of launches fell to its lowest level since…

Advent International can purchase the defense company Cobham Plc for $5 billion. The U.S. private equity firm received permission from the British government after it made several concessions to address…

Adams Street Partners announce the final closing of the Adams Street 2019 Partnership Fund Program. The firm locked up roughly $740 million in capital commitments. The global fund program received…

Marcato Capital Partners will showdown after two years of lackluster returns. Multiple media outlets reported the developments on Sunday. According to such reports, Marcato founder and PM Richard McGuire started…

Lone Star, the Dallas-based PE shop, has purchased the Construction Chemicals business of BASF. The $3.51 billion deal will likely close in Q3 2020. The deal comes as BASF attempts…

BlueCrest Capital has earned 50% gains since the start of the year. This is a remarkably solid return after the company returned outside investor capital four years ago. The Financial…

Standard Life Investments will now manage the LF Woodford Income Focus fund, according to Link Fund Solutions. The arm of Aberdeen Standard Investments will replace Neil Woodford, whose flagship fund…

Cambridge Financial Group is acquiring Melrose Bancorp (MELR) for $25 a share in cash. The mutual holding company for Cambridge Savings Bank will receive quite a boost after this deal. Cambridge…

According to a report released Tuesday, financial services companies have pumped $8 billion across 329 Fintech deals during 2019. Roughly 50% of those capital injections have come from banks, while…

Jeffrey Perlman of Warburg Pincus is bullish on Vietnam and worried about companies with a high cash-burn rate. In an interview with DealStreetAsia, the Warburg managing director outlined his views…

Private equity fundraising is set to decline next year, according to Pitchbook. In a report, the research firm projected that PE capital raising would slow down in the European and…

Sapphire Ventures has raised $1.4 billion for growth investments, an outlet that will also provide $150 million to boost larger deals. The group, which spun out of SAP, has traditionally…

The Duquesne Family Office finally hit double-digit returns last week, according to Stanley Druckenmiller. In an interview with Bloomberg Television, the former hedge fund manager said he “couldn’t have been…