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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Melvin: Observations From the Bank Director Magazine Acquire or Be Acquired Conference
Tim Melvin is attending the Bank Director Magazine Acquire or Be Acquired Conference in Phoenix, AZ this week. Over 1,000 bankers have gathered to talk about M&A and growth strategies in the current low growth economy.
Venture Capital: SoftBank Leads a $125 Million Series in Mexican Fintech AlphaCredit
SoftBank Leads a $125 Million Series in Mexican Fintech AlphaCredit. The fintech provides loans and financial solutions to individuals and SMEs in Mexico and Colombia.
Unfazed by problems in the US and India, Softbank is not afraid to plow in big money into Latin American markets such as Mexico and Colombia, as evidenced by its investment in AlphaCredit.
The fundraising included investments from unspecified but leading international venture capital funds and existing investors.
Digital Assets: Ray Dalio – Cash is trash; BTC is Untouchable; Libra Maybe; Stocks are Good; Gold is Best
Ray Dalio, a long time bitcoin sceptic, again panned the cryptocurrency at Davos. Cash is trash; BTC is Untouchable; Libra Maybe; Stocks are good; Gold is Best, he said.
Private Equity: BGH Capital Makes Better Offer For Village Roadshow
Private equity firm BGH Capital has thrown its hat into the ring to acquire Village Roadshow.
On Friday, BGH made an unsolicited counter-offer of $4 per share for Village. A month ago, Pacific Equity Partners (PEP) had offered to take over Village Roadshow, a cinema owner and Gold Coast theme parks operator, for $3.90 a share.
Digital Assets: Square Granted US Patent For New Currency Exchange Network Including Cryptos
Payments processor Square won the US patent number 10,540,639 titled “cryptocurrency payment network” for a new network that could seamlessly process crypto-to-fiat transactions and the reverse. The transactions would occur automatically, in real-time, and instantly.
Hedge Funds: With a 120% Gain, Bill Miller’s Value Partners 1 Fund Absolutely Crushed It in 2019
With a 120% Gain, Bill Miller’s Value Partners 1 Fund Absolutely Crushed It in 2019. Best of all, legendary investor Bill Miller scored that humongous return doing absolutely nothing in the last quarter.
That’s right, Miller neither sold or bought anything in the dying months of 2019. That takes some doing for an actively managed fund, but Miller kept his hands off a portfolio that held names such as Amazon (+23% in 2019), and small-cap biopharma Flexion Therapeutics (+83% in 2019).
ESG: Mining Becomes More Responsible, But Needs To Do A Lot More: EgonZehnder
Miners have accepted that Environmental-Social-Governance (ESG) criteria will measure their commitment to sustainability and the impact of their operations on society.
Going a step further, mining companies have also come to realize that ESG compliance leads to the creation of shareholder value and attendant social benefits such as better working conditions. Further, they recognize that investors, employees and host governments will welcome those miners that have a record of credible ESG performance.
That ESG is causing a sea change in miners’ approach to societal obligations is apparent. But, says EgonZehnder, they should be doing more.
FinTech ETF Hits 52-Week High
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 this week. The fund aims to replicate the performance of the Indxx Global FinTech Thematic Index.
Hedge Fund: Elliott Management Ditches Stake in Hyundai Motors
Hyundai Motor Group has shaken off activist hedge fund Elliott Management. According to South Korean media, Elliott Management ditched its stake in the auto giant at the end of 2019. The activist fund had previously attempted to secure board seats and pushed for large dividend payments.
Private Equity: CITIC Capital Targets Huge Stake in McDonald’s Business in China
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 of the $2.8 billion that it raised for its fourth Chinese buyout fund in August 2019.
Venture Capital: Three VC Exits To Look Out For In 2020
Will 2020 shake off the IPO blues induced by 2019’s triumvirate of Uber-Lyft-WeWork? Despite the occasional snafu, the IPO market is doing quite well, judging from the Renaissance IPO ETF, currently perched at an all-time high. “The strong 2020 performance of recent IPOs bodes well for the 2020 crop,” said Kathleen Smith of Renaissance Capital.
We, therefore, look forward to 2020’s crop of promising VC exits via IPOs (or sales).
Here are three.
ESG: MSCI Chief Fernandez Warns ESG is a “Permanent Change in the Way Capitalism Works”
“We’re sounding the alarm bells, “ said MSCI chairman and CEO Henry Fernandez on CNBC’s Squawk on the Street. If you are an investment institution and you’re not embracing this and taking it into account, it’s going to be at your own peril,” said Fernandez. He warned ESG is a “Permanent Change in the Way Capitalism Works.”
ESG: ESG Investing at Inflection Point in 2020, says Nasdaq Head
It’s the 50th annual World Economic Forum at Davos. Nasdaq President and CEO Adena Friedman wrote in LinkedIn on Monday: “As we look ahead to a new year and a new decade, it’s far from clear that our world can be described right now as either cohesive or sustainable.” However, Friedman is enthused by the progress on ESG during 2019 and the prospects for it in 2020. Therefore, “2020 is increasingly looking like it may be the tipping point year for ESG investing,” said Friedman.
Private Equity: Chicago-based Private Equity Fund Wynnchurh Closes Fifth Tranche at $2.3 Billion
Chicago-based Private Equity Fund Wynnchurh Closes Fifth Tranche at $2.3 Billion. The fund was launched in September with a target of $1.6 billion, and received a solid oversubscription. It specializes in investing in middle-market companies.
Hedge Funds: After a Banner Year, ValueAct Rejigs For the Next Twenty
After a Banner Year, ValueAct Rejigs For the Next Twenty. Founder Jeff Ubben steps down as CEO; will remain as chairman. His position as CEO will now be filled by ValueAct’s president, Mason Morfit.
Venture Capital: Fintech Accelerator Catalyst Fund Receives $15 Million From JPMorgan and UK Aid
Catalyst’s main agenda is to drive financial inclusion in emerging markets.
Boston-based fintech accelerator, Catalyst Fund, which specializes in emerging and frontier markets, is now armed with an additional $15 million, according to TechCrunch.
Artificial Intelligence: Google CEO Sundar Pichai Calls for “Sensible Regulation”
Google CEO calls for regulation of artificial intelligence
FinTech: Fintechs That Could be in Play After the Visa-Plaid Deal
There are too many fintechs out there, but many can’t survive on their own.
A Barron’s analysis of likely deal-making in the fintech sector after the landmark Visa-Plaid deal shows a mixed picture.
Hedge Funds: The Top Ranking Hedge Funds since Inception-How They Fared in 2019
TCI and Lone Pine led the list of top-performing hedge funds for last year.
Chris Hohn’s TCI and Stephen Mandel’s Lone Pine Capital logged gains of $8.4 billion and $7.3 billion respectively in 2019. However, Ray Dalio’s Bridgewater ($58.5 billion) and Soros Fund Management ($43.9 billion) topped the list based on gains from the start date of the hedge funds.
Hedge Funds: Shades of LTCM Lurk, Only This Time It Could Be Much Bigger
Regulations hobbled banks’ risk-taking abilities after the last global financial crisis. But risk never really went away, it just switched masks. And hedge funds are the new face of unbridled financial adventurism, according to the IMF and the European Central Bank (ECB).
Private Equity: Lexington Partners Raises $14 Billion for Ninth Fund
Lexington Partners announced the closing of Lexington Capital Partners IX which raised $14 billion of commitments. Lexington Capital is one of the largest funds that invest in private equity and alternative assets. It focuses on sectors globally through a full range of negotiated secondary market transactions.
ESG: Citigroup Social Impact Fund Hits $150 Million
The details around the Citigroup social impact fund emerged this week. The bank announced it funded a $150 million social impact fund. The fund will invest in private companies that make a positive impact on society. Internally funded, the new fund will invest in companies looking to develop innovative solutions for four significant challenges the world faces today.
Next Generation Technology Growth Fund II Closes at $2.2 Billion
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, and Israel. The fund seeks investments outside the major technology centers such as Silicon Valley and Boston.
Blackstone CEO Steve Schwarzman: Fewer Things to Buy Today for Private Equity
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 alternative assets executive cited higher asset prices, expectations for global growth, and lower interest rates for there being “much fewer things” to buy.