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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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Crypto hedge fund Pantera: Bitcoin $42,000 possible in 2019
Dan Morehead, founder and CEO of crypto-focused hedge fund Pantera Capital, is not afraid to make mind-numbing projections for bitcoin.
But the crypto perma-bull has a basis.
Crypto Hedge Fund Pantera: Bitcoin will Benefit from Libra’s Halo Effect
Pantera CEO Dan Morehead lauds Facebook’s SDR type strategy to collaterize Libra with the biggest currencies
In an investor letter Pantera CEO Dan Morehead said Libra and Bitcoin shared certain core values, that of Money, Justice and Freedom.
These values are likely to provide the substratum for a “movement towards democratized finance,” he said, stressing that financial inclusion via inexpensive and reliable financial services is the “promise of the blockchain.”
BNY Mellon arm Alcentra raises €5.5 billion for private lending in Europe
With bankers reluctant to lend to small and medium-sized businesses in Europe after the financial crisis, direct lenders are willingly stepping into the breach.
Proof of that is the response to Alcentra’s recent European direct lending capital raise. With a minimum target size of €3 billion, the firm received €5.5 billion from institutional investors in Europe, Middle East, US and Asia.
Pension funds welcome Blackrock’s new “long-term private equity” strategy
LTPC is aimed at high quality companies looking for a long term source of capital.
“There’s a large population of strong, stable companies with a reciprocal need for a long-term private ownership model,” says André Bourbonnais, Blackrock managing director and global head of BlackRock Long Term Private Capital. “For these companies, neither a public listing nor a leveraged buyout is an attractive option. LTPC is aligned to meet those needs.”
British Fintech Transferwise Eyes U.S. Customers
British-born Netflix star Tan France will endorse the debit card from Transferwise soon to be launched in the US.
Launched in the UK and Europe in 2018, the card has already made waves with 15 million transactions, and over $10 billion deposited.
Point72 Asset Management Loses 20 Portfolio managers
Point72 Asset Management, once Steve Cohen’s family office, reopened to outside money in 2018. According to available information, Point72 employed about 1,400 people as of 2019.
A Wall Street Journal report said the firm has been having people problems, with about 20 portfolio managers leaving this year. Some of these departing employees had worked with Cohen for more than 10 years.
Robinhood Valuation Hits $7.6 Billion after Recent Funding
Robinhood’s latest valuation of $7.6 billion is up more than a third from its 2018 valuation of $5.6 billion.
Investors participating in the latest E series funding round, that raised $323 million, included Ribbit Capital, New Enterprise Associates, Sequoia Capital and Thrive Capital. The financing was led by DST Global, an existing investor.
Grayscale: Millennials and GenX could pump trillions into Bitcoin
A massive $68 trillion will pass in the coming years to younger generations, and a lot of it will flow to digital assets says Barry Silbert, chief executive of Grayscale, a digital asset manager which manages the Bitcoin Trust Fund.
Gatwick Airport: An infrastructure investment that paid off handsomely for CalPERS
When the California Public Employees’ Retirement System (CalPERS) invested $155 million in Gatwick Airport nine years ago, they envisaged 32 million passengers annually.
Gatwick is already catering to 46 million passengers a year. And it can only get better from here – because Heathrow, the other London airport, is at full flight capacity.
Unsurprisingly, CalPERS’ original investment of $155 million is now worth over $1.24 billion.
Private equity giant Trilantic North America raises $2.75 billion
Trilantic Capital Partners VI (North America) L.P. and its parallel fund named Fund VI North America said they raised $2.75 billion in the latter, closing at the hard cap limit.
Why private markets will expand faster than their public counterparts
In recent years, an interesting trend has appeared. Whereas earlier the public markets shouldered the responsibility for raising capital and liquidity for businesses, in recent times the private markets have taken the lead.
Celeb Chef Gordon Ramsay Inks PE Deal to Expand Across America
“I look at the lines outside the door,” says celebrity chef Gordon Ramsay, referring to his highly successful fish-and-chips restaurants at Las Vegas and Atlantic City.
Between them, the two outlets have sold more than 300,000 fish and chip dishes.
Economic patriot and Presidential candidate Elizabeth Warren: Private equity firms are “vampires”
Democratic presidential candidate Elizabeth Warren, who inaugurated her “economic patriotism” proposal about a month ago, unveiled fresh new strategies Thursday. She proposes to rein in private equity players and roll back Trump’s financial deregulation.
Hedge Fund Titan Ray Dalio Recommends Investing in Gold
The yellow metal will benefit from the looming “paradigm shift” in investing, he says
According to Ray Dalio, chief of Bridgewater Associates, the ongoing party in stocks will soon run its course. Investors are likely to head for the exits amidst lower returns on equities, seeking other assets to invest in.
JPMorgan Chase May Buy Stake in UK FinTech 10x Future Technologies
Former Barclays chief Antony Jenkins, founder of 10X, believes the banking industry’s “Uber moment” is here
According to a report in Financial Times, JPMorgan Chase, the biggest US bank, is in discussions to invest in banking fintech 10x Future Technologies.
Blackstone Group may raise over $100 billion this year
At the end of the second quarter Blackstone had a record $545.5 billion in assets under management
Blackstone Group Inc, the world’s largest manager of alternative assets, raised $45.1 billion during the second quarter, giving it a total of $88 billion raised during the first six months of this year.
Some funds that jumped onto the ESG bandwagon, did so in name only
The gush of incoming money into ESG focused funds has prompted some funds to make cosmetic changes to qualify for the “ESG” tag
Funds focused on ESG (environmental, social and governance) factors received a record $5.5 billion in inflows from investors.
ESG funds see record inflows in H1 2019
Here’s some data for thought: In the first half of 2019, funds focused on environmental, social and governance (ESG) factors hoovered up $8.4 billion in inflows, according to data from Morningstar.
Note that in the whole of 2018, ESG inflows were $5.4 billion, itself a record.
Former professional cyclist Lance Armstrong in new avatar as venture capitalist
Lance Armstrong, along with California-resident Canadian Lionel Conacher, has embarked on a career as a venture capitalist through their firm Next Ventures LP.
Next Ventures is headquartered in Austin, Texas, where Armstrong, presently a resident of Aspen, Colorado, still has business ties.
Next raises $24.5 million
Hedge funds’ surge in long positioning may presage a correction
Macro investing and commodity trading funds went long with a vengeance in March
According to Jason Goepfert, founder of Sundial Capital Research Inc., trend-following hedge funds swung from a 25% short positioning in March 2019 to over 50% long exposure.
Film Maker Luc Besson May Offer EuropaCorp to Vine Alternative Investments
Luc Besson controlled EuropaCorp ran into financial difficulties after the flop of its 2017 mega-budget sci-fi epic Valerian. The company has reportedly been in talks with potential suitors since May 2019.
Besson is not interested in the overtures of Pathe, a film group that distributes his movies in France.
SPAC and fintech to raise $220 million
Netfin Acquisition Corp filed with the SEC to raise $220 million in an initial public offering (IPO).
Based in New York, Netfin is a SPAC and fintech.
Art: The ultimate alternative investment, now more accessible
Art is often called the ultimate alternative investment because it is completely uncorrelated to traditional markets such as stocks
Consider this: If, 18 years ago, you invested in an art portfolio that mimicked the ArtPrice 100, the art index which considers the most significant artists selling on auction, your portfolio would have outperformed the S&P 500 by a solid 250%.
Bitcoin’s leverage-fueled volatility
One look at the bitcoin’s futures price chart shows it is not a trade for the faint-hearted.
The most popular digital coin future plumbed a low of around $3,200 in December 2018. But in a few months, by early June 2019, bitcoin shot up to a high of nearly $14,000.