News

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.

Top Story

FinTech: Lloyds To Acquire Stake In Loyalty App Bink

January 4, 2022

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that may run into millions of pounds. It was also not known how much the transaction valued Bink.

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Overlay Shares: The Icing on Your Index ETF Cake (Now for Everybody)

October 15, 2019

Once the preserve of accredited investors and institutions, this suite of Overlay Shares ETFs is now available to the everyday investor. A capital-efficient overlay strategy combines with an underlying core index ETF to generate an additional, incremental, and tax-efficient income stream.

KKR & Co Cuts IPO Price for Latitude Financial

October 15, 2019

KKR & Co and its investment partners will lower the IPO price for their Australian non-bank lender Latitude Financial. A Reuters report indicates that the private equity giant could drop the price by at least 11%. This is likely a disappointment for KKR & Co. and its partners Deutsche Bank and Varde Partners. This is the second attempt to list Latitude, which was set to go public this week.

JP Morgan Asset Management

JP Morgan: Fund Flows May Point to Higher Recession Risk

October 14, 2019

JP Morgan suggests that retail investors and consumers are losing confidence in the U.S. economy. The bank cited the outflows of capital from the equity markets and the rush of capital into bonds as a reason. In 2019, $683 billion has moved into bond funds. Meanwhile, stock funds have seen outflows of $177 billion. These figures come from the Investment Company Institute, EPFR, and Bloomberg.

More Defections from the Libra Cryptocurrency Project

October 14, 2019

The Libra cryptocurrency project has lost another major partner on Monday over regulatory scrutiny around the stablecoin. Today, Booking Holdings – the company behind Priceline, Kayak, and Booking.com – dropped out of the Libra Association.  

Aecom

Two Private Equity Firms Buy Management Services Arm of AECOM

October 14, 2019

Private equity firms Lindsay Goldberg and American Securities are buying assets from construction giant AECOM. The target company issued a report this morning saying it agreed to a deal worth $2.4 billion for its management services division. That arm of the company provides logistics and technical services to the Federal government.

EY Report Talks Dealmaking in the Year Ahead

October 14, 2019

The latest EY report on M&A activity for the year ahead reveals interesting technology trends. EY is a leader in assurance, tax, transaction, and advisory services. The company finds that business leaders have altered their portfolios due to a challenging geopolitical environment. However, the firm notes that 52% of global corporate leaders plan to pursue acquisitions in the next year.

Cerberus Buys Closure Systems International from Reynolds Group

October 14, 2019

Cerberus Capital Management announced that one of its affiliates has entered into a definitive agreement to buy assets from Reynolds Group. The private equity giant will acquire the North American, Costa Rican, and Japanese businesses and related facilities of Closure Systems International.

BlackRock and Climate Issues

Climate Change Protests in London: Activists Glue Themselves to BlackRock’s Doors

October 14, 2019

Climate change activists took on the world’s biggest financial institutions today, specifically BlackRock and the Bank of England, in London. They demanded the cessation of funding of a looming environmental crisis.

Libra Association Dealt A One-Two-Punch: Defections, And Now, The G7

October 14, 2019

Last week, eBay, Visa, Mastercard, and Stripe followed PayPal out of the Libra Association; now, the G7 warns against digital currencies.
Last week, fears of regulatory uncertainty (and repercussions) probably forced eBay, Visa, Mastercard, and Stripe to depart the Libra Association. They followed on the heels of PayPal, which walked out earlier.

Nubank, the Brazilian Fintech, Hits a Purple Patch

October 14, 2019

Brazilian fintech startup Nubank has added three million users since August this year.
Speaking at the Brazil Investment Forum in Sao Paulo, Nubank founder and CEO David Vélez said the fintech now had 15 million users.

Temasek Will Sit Out the Saudi Aramco IPO on Environmental Concerns

October 12, 2019

Singapore’s Temasek Holdings will not invest in Saudi Aramco’s mega-IPO, sources said, according to Bloomberg.
Temasek, which focuses on sustainability and environmental, social and governance principles, will, therefore, be unable to participate in the Saudi Aramco IPO. Moreover, it has a 2030 target to reduce the carbon footprint of its portfolio companies by 50%.

Finmason Clocks Analysis Of 10 Million Portfolios

October 11, 2019

U.S. based fintech FinMason is the world’s largest independent investment analytics engine for financial services platforms. FinMason announced this week that it had analyzed over 10 million portfolios for clients. The investment analytics provider launched its analytics API service in 2017. The firm directs its service towards WealthTech and FinTech firms. The FinMason API puts…

VALT, the ETF for Liquid Fixed Income Returns

October 11, 2019

The Ultra Short ETF has been launched by ETF Managers Group, along with SIT Fixed Income Advisors. It is listed on the NYSE Arca with ticker name VALT.
VALT is ideal for investors seeking the preservation of capital and fixed income returns.

Madison Dearborn Partners Eyes Eighth Fund, Sets $4.5 Billion Goal

October 11, 2019

Madison Dearborn Partners, a Chicago-based private equity giant, is launching its eighth fund. The company wants to raise $4.5 billion. The figure would top the $4.4 billion it raised for its a fund just three years ago. 

Fidelity Investments Eliminates Commissions

October 11, 2019

Fidelity Investments announced Thursday that it is eliminating commissions for stock trading. The elimination of commissions will also include exchange-traded funds (ETFs) and options. The firm is the latest in a long line that has cut fees to zero as the discount broker wars continue.

AGF Leverages Its Quants Team to Offer Three Liquid Alternative Funds in Canada

October 11, 2019

Three new liquid alternative funds from AGF Investments Inc. provide better risk-adjusted returns. AGF has just launched three liquid alt funds in Canada. These are the (AGFiQ) US Market Neutral Anti-Beta CAD-Hedged ETF (QBTL), US Long/Short Dividend Income CAD-Hedged ETF (QUDV) and the US Long/Short Dividend Income CAD-Hedged Fund. “These offerings build on AGF’s long…

Ripple’s Blockchain to Support Finastra’s Cross-Border Payments

October 11, 2019

Enterprise blockchain provider and payment network Ripple has tied-up with giant fintech Finastra.
The latter’s users can utilize Ripple’s blockchain based network and its RippleNet partners for cross-border payments.
RippleNet, a global blockchain payments network, has over 200 financial institutions as its global partners. These entities will also have access to Finastra’s massive global network of banks.

Bitcoin Options to be Highly Popular with Asian Traders, Miners: CME Group

October 10, 2019

CME Group’s forthcoming launch of Bitcoin options will likely be lapped up by Asian crypto players.
Asian crypto traders and miners, along with European speculators and hedgers, already account for nearly half of the trading of CME’s bitcoin futures product. Bitcoin options, used along with futures, would allow these players to fine-tune the management of their exposure and risk to the cryptocurrency.

Facebook CEO Mark Zuckerberg Will Testify Before House Financial Services Committee

October 10, 2019

Facebook CEO Mark Zuckerberg will testify before Congress about his firm’s cryptocurrency project. Zuckerberg will speak before the House financial services committee on the launch of Libra.

Here’s What Negative Interest Rates Would Do to the Community Banking Industry

October 10, 2019

Negative interest rates have generated a lot of noise in Europe and Asia. What would happen if the Federal Reserve adopted negative interest rates? That was the subject of a report released this week by the Kroll Bond Rating Agency.

Wall Street Journal

Blackstone Sells Last Building from Famous 2007 Real Estate Deal

October 10, 2019

The Wall Street Journal says that Blackstone has sold the last office building it purchased in 2007. The building was part of their $39 billion purchase of Equity Office Properties Trust. That purchase was the largest real estate deal in history.

CFTC Chairman Heath Tarbert

CFTC Chairman: Ethereum is a Commodity

October 10, 2019

CFTC Chairman Heath Tarbert has said that Ethereum is a commodity. During a talk at the Yahoo! Finance All Markets Summit, the CFTC chair said he doesn’t think ether is a security.

LGPS Launches Climate Change Strategy

October 10, 2019

LGPS Central has announced the launch of a multi-factor equity fund. The manager of pooled assets from nine British public sector pension funds say that climate change sits at the center of the investment strategy.

Bitwise Unfazed by SEC Rejection; Intends to re-file soonest

October 10, 2019

The SEC rejected the Bitcoin ETF proposed by Bitwise Asset Management and NYSE Arca. But Bitwise welcomed the detailed feedback and additional clarity.
Though the SEC rejected the Bitwise ETF, the negative thrust of its 112-page order centered around NYSE Arca’s proposed rule change to enable the listing of the Bitwise Bitcoin ETF.