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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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Preqin: Hospitality REITs Looked Strong in 2018
A new Preqin report is out.
Preqin joined asset manager Pro-invest Group to track the performance of the hospitality REIT industry. The result is a new study showing the sharp growth across the sector this decade.
Melvin: Digesting KKR Earnings for Q3
KKR earnings came out this week. If you read the headlines surround the recent earnings report form KKR and Company (KKR), you would think the world had ended for the private equity and alternative investment firm. While earnings did drop 23% year over year, this was implied because the company did not sell many assets to generate incentive fees in the quarter. The media loved the topic, but it didn’t come up n the analyst and investors call in any significant way at all.
Illinois Teachers’ Retirement System Bets Big on Alternatives
Illinois Teachers’ Retirement System is preparing to allocate about $1.4 billion toward alternative investment strategies.
A report from Pension and Investments outlines the commitments from the teachers’ pension program. According to the report, ITRS will allocate big sums to private credit strategies. Hayfin Capital Management will receive $500 million, while Intermediate Capital Group will manage another $500 million.
Bakkt To Roll Out Bitcoin Options Before CME; Launch Date December 9
Bakkt will gain a lead on CME Group in the race to offer the first regulated options contract for bitcoin futures.
Bakkt is the all-new ICE-sponsored Bitcoin exchange. Bakkt’s bitcoin options will launch on December 9, the exchange said in a blog post published Thursday.
Corporates and Banks Rejoice: Bottomline Launches Real Time Payments
Fintech firm Bottomline Technologies enhances its Digital Banking product with the addition of a Real-Time Payments module.
Real-time payments are essential these days to a bank’s competitiveness, particularly in the enterprise arena. Bottomline’s innovation will enable corporate customers to send and receive real-time payments and as well, request payments.
KKR & Co Reports 23% Drop in Quarterly Profits
KKR & Co announced a 23% year-on-year decline in quarterly profits today. The firm’s report showed a dip in revenue as asset sales slow among private equity firms. Overall, post-tax distributable earnings fell from $494.7 million in Q3 2018 to $388.8 million in Q3 2019.
Allworth Financial Buys RAA and Expands U.S. Reach
Allworth Financial is purchasing RAA, one of the country’s largest financial planning firms specializing in the airline industry. Based in Dallas, RAA manages roughly $2.8 billion of client assets. This brings Allworth’s AUM more than $7.5 billion.
Crestline Opportunity Fund III Europe Closes
Crestline Investors has announced the final closing of its first European Opportunity Fund. The credit-focused institutional alternative asset manager has called the fund the Crestline Opportunity Fund III Europe.
Apollo Global Doubles Stake in Athene Holding
Apollo Global Management will buy an 18% stake in Athene Holding (NYSE: ATH). The $1.55 billion deal will see Apollo double its stake to roughly 35%. The purchase comprises about 35.5 million common shares.
Fintechs Across The Asia Pacific Can Go Global Using The Visa-Marqeta Alliance
Visa and Marqeta have partnered to offer fintechs in Australia, Hong Kong, Japan, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand, and Vietnam a new way to themselves internationally accepted.
Fintechs in these countries can turn their user account balances into digital cards that are accepted wherever Visa is and where the Marqeta platform is certified.
Ken Fisher: No Layoffs Coming to Fisher Investments
Ken Fisher – the embattled money manager – has seen outflows of roughly $3 billion. The swell of outflows comes weeks after he made a series of remarks during an investor conference that irked investors due to their sexual nature.
Prologis and Liberty Property Trust Announce REIT Merger
Prologis and Liberty Property Trust announced a merger between the two firms. According to deal terms, Prologis will acquire Liberty $12.6 billion, including the assumption of debt. The board of directors of both REITs have approved the transaction.
UBS’ Walsh on ESG: ETFs Can’t Be Subject to A Standard ESG Definition
Andrew Walsh is head of passive and ETF specialist sales for UK and Ireland at UBS Asset Management. He gave a pertinent example of the difficulty of applying a standardized, “one-size-fits-all” definition of ESG: Can you cubby-hole companies in the oil and gas sector along with the ones in the tech sector? No, that’s because the metrics for ESG for the two industries would be vastly different.
JPMorgan Asset Management Closes $1.06 Billion Special Situations Fund
More than half of investors are first-time investors in a J.P. Morgan Alternatives fund. JP Morgan Asset Management closed its Lynstone Special Situations fund. The fund raised $1.06 billion for the Luxembourg-domiciled strategy that focuses on stressed, distressed and event-driven situations in North America and Europe. The press release below offers a full recap of…
AT&T Defuses Hedge Fund Elliott Management Pressure With Three-Year Plan
Activist hedge fund Elliott Management took aim at AT&T Corporation in September. Elliott had proposed cost cuts, divestment of certain businesses, and a freeze on further acquisitions. Now, the telecom giant has pushed back with a three-year plan to diffuse Elliott’s activist pressures.
Now, Student Loan Refinance, in Minutes, on the Blockchain
Mike Cagney founded Figure Technologies uses the blockchain to process transactions on its lending platform. The use of the blockchain allows Figure to function paperless, and that helps to speed up its loan procedure.
AECOM-Canyon Partners Raise $500 Million for Flagship Fund
AECOM-Canyon Partners has closed a $500 million fund. The fund is a joint venture between the AECOM and California-based hedge fund Canyon Partners.
ESG ETF Inflows Increase in September
ETFGI, a global research firm, says the uptick in ESG assets continues to accelerate due to booming investor interest. Global environmental, social and governance assets in ETFs and ETPs have reached $47.33 billion.
SoftBank Group Pumps $655 Million into Greensill Capital
Greensill Capital has received a large capital injections from SoftBank Group’s Vision Fund. The tech-focused investment fund gave the eight-year-old financing firm an additional $655 million.
Greensill plans to use the money to finance its international expansion.
Melvin: Recapping the Blackstone Earnings Report
The Blackstone earnings report is always an important quarterly event. Over my years in the investment business, I have learned to watch what people are doing with their money instead of what they say they are doing.
Bitcoin Goes Vertical After Chinese President Xi Jinping’s Pro-Blockchain Remarks
Bitcoin rallied 16% after Chinese President Xi Jinping called for his country to “seize the opportunity” afforded by blockchain.
Speaking at a Politburo Committee session on blockchain technology trends Thursday, Xi told committee members: “We must take the blockchain as an important breakthrough for independent innovation of core technologies.”
Square Launches Share Investments on its Cash App (Even as little as $1)
Square’s Cash App, aimed at the young and the hip, will allow investing in share fractions.
The Square Cash App is a mobile payments app that allows people to transfer money between cellphones, pay for retail purchases, and draw cash via credit card, “Cash Card” or ATM.
PwC Fintech Report Reveals Differences Between FS and TMT Firms
PwC has a new report titled: “Crossing the lines: How fintech is propelling FS and TMT firms out of their lanes.”
A Blockchain P2P Lending System at Scale Could Render London Bankers Irrelevant
According to Business 5.0 expert John Straw, the blockchain could well disrupt the City of London. And put paid to the taxes that the City generates.
An end to the stream of taxes from the City would effectively spell the end of the NHS. Blockchain-based financial services, based on technology such as Ethereum’s, could consign banks to the annals of history.