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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Goldman Sachs

FireEye Is Seeking a Private Equity Buyer, Hires Goldman Sachs as Advisor

October 3, 2019

FireEye (FEYE) is reportedly seeking a private equity buyer. The news comes after the firm failed to locate a strategic buyer. The company reportedly hired Goldman Sachs to guide them through the process. Multiple reports suggest that discussions are in the early stages of development.

Libra Association to Meet in Switzerland to Discuss Digital Assets: Make or Break?

October 3, 2019

No one thought setting up a globally acceptable cryptocurrency such as Facebook’s Libra would be easy. But the Libra Association’s upcoming meeting in Switzerland may show which of its members are in for the long haul.

Jon Jacobson

Hedge Fund Solel Partners Launches with $600 Million AUM

October 3, 2019

Solel Partners began trading this week with $600 million AUM. According to Bloomberg, former Highfields Capital Management partners Craig Peskin and Peter Fleiss are leading the fund.

Sports Gaming Investment Fund

Sports Gambling Meets Venture Capital

October 3, 2019

The Sports Gambling Investment Fund has announced the formation of its first fund. The group aims to discover, fund, and mentor startups entering the casino and gaming business.

Martin Gilbert Revolut

Martin Gilbert is Departing Aberdeen Standard Investments

October 3, 2019

Martin Gilbert is not seeking re-election as chairman of Aberdeen Standard Investments. Instead, he will also depart his role vice-chairman of parent company Standard Life Aberdeen on Sept. 30, 2020. Gilbert co-founded the company in 1980 and helped steer its merger with Standard Life in 2017.

Schroders Launches A Private Equity Fund On Its GAIA II Liquid Alternatives Platform

October 3, 2019

Investment manager Schroders has launched a private equity fund on its GAIA II liquid alternatives platform.
The Schroder private equity fund, titled “Schroder GAIA II Specialist Private Equity fund,” will target unlisted companies with an enterprise value of up to $250 million.

Cloud And Saas Banking Startup nCino Raises $80M

October 3, 2019

nCino, the startup known for its cloud-based, SaaS solution for banking operating systems, raised $80 million.
nCino’s cloud-based, banking operating system runs off the Salesforce platform. Existing investor Salesforce Ventures participated in the funding round, which was led by funds and accounts advised by T. Rowe Price Associates, Inc.

Vanguard Launches Actively Managed International Fund

October 3, 2019

A new Vanguard fund has launched to add to the firm’s list of mutual funds and ETFs launched under CEO Tim Buckley. The company has unveiled the Vanguard International Core Stock Fund (VWICX). It is the fourth actively-managed product to arrive at the company this year. The three other funds launched this year are Vanguard Global ESG Select Stock Fund, Vanguard Commodity Strategy Fund, and Vanguard Global Credit Bond Fund. At this pace, they might run out of managers.

The DailyAlts Playbook – October 3, 2019

October 3, 2019

Today, the DailyAlts Playbook talks Trump tariffs on the things we love, Libra’s woes, the ESG Gold Rush, and a special lunch with Bill Ackman.

The Dow was flat on Thursday and unable to get any footing after a massive downturn yesterday. The markets continue to raise concerns about economic data and growth while monitoring ongoing trade developments. With trade dominating the headlines, let’s dive into the two related stories driving sentiment.

David Marcus Facebook Libra Cryptocurrency

WSJ: Libra May Lose Key Partners over Regulatory Scrutiny

October 3, 2019

The Facebook Libra cryptocurrency project could lose key partners, according to the Wall Street Journal. However, the report did generate a response from David Marcus and Facebook.

Goldman Sachs

Goldman Shakes Up Asia M&A Team after John Kim Leaves (And Other People on the Move)

October 3, 2019

Bank splits M&A leadership role between two rising stars Goldman Sachs has hired two new leaders to operate the company’s M&A group in Asia ex-Japan. The firm has appointed co-heads Raghav Maliah and Jung Min to replace partner John Kim. Maliah joined Goldman in 2000. He recently served as global vice-chairman of investment banking and…

Scared Of Falling Into Student Loan Debt? Try Cleo To Help Yourself Budget

October 3, 2019

Cleo is the fastest-growing fintech app in history. It’s a money management tool with a sense of humor and “zero-tolerance policy for bullsh*t.”
Barnaby Hussey-Yeo, a data scientist, founded AI-powered Cleo out of London. It was intended to be a fun-filled budgeting tool for “Gen-Zennials” – a friend in the pocket that speaks their lingo to help them save money.
It soon turned into a money-management revolution. Hitting the US market in summer 2018, Cleo now has 2 million consumers.

Real Estate Economic Forecast is Rather “Meh” About Real Estate

October 2, 2019

The Real Estate Economic Forecast – authored by Urban Land institute – hit the street today.

It’s not as bad as we might have expected.

The survey offers a consensus forecast of 41 economists and analysts at 32 leading real estate organizations.

Blackstone Real Estate

Blackstone Continues Real Estate Buying Spree

October 2, 2019

The Blackstone real estate buying spree continues. The private equity firm has continued its rapid deployment of funds into real estate with another purchase.

On Tuesday, the firm announced it would purchase a 65% controlling interest in Great Wolf Resorts.

RRJ Capital: There’s Gold In Those Eastern Roads

October 2, 2019

RRJ Capital isn’t a household name to most Western investors. But the Asian private equity firm is tapping into an asset class that often goes ignored: Toll roads.

Why McAfee Expects Bitcoin to Touch $1 Million by 2020

October 2, 2019

John McAfee explains in a Forbes interview why he thinks Bitcoin will climb to $1 million by 2020.
McAfee’s bitcoin prediction, famously made in 2017, is still alive and kicking despite the stomach-wrenching volatility in the value of the cryptocurrency.
John McAfee is a colorful tech personality who founded computer firm McAfee Associates. He is also a 2020 United States presidential campaigner.

Mapletree Commercial Buys Google’s HQ in Singapore

October 2, 2019

Mapletree Commercial Trust has purchased Google’s Asia Pacific headquarters in Singapore. The acquisition is part of an S$1.55 billion ($1.14 billion) deal for four buildings in Pasir Panjang.

Natwest Will Use AI To Predict Financial Market Patterns

October 2, 2019

NatWest will collaborate with Microsoft and DreamQuark to harness the power of artificial intelligence (AI) to simulate financial markets.
NatWest, Microsoft, and DreamQuark will develop a new platform called Next Generation Complex Analytics. The platform will use AI to learn from financial markets, transport networks, and other such structures. After that, it will apply this learning to detect opportunities and risks in real markets.

Can Apollo Get a Win with ADT after Canadian Services Sale

October 2, 2019

ADT announced is selling ADT Security Services Canada to TELUS Corporation. Terms of the deal are CAD 700 million in cash, subject to certain adjustments.

Liquid Alternatives: Schroders’ GAIA Platform Launches Nuveen’s US Equity Strategies

October 2, 2019

Investors outside the US may now access Nuveen’s US equity long-short and equity market neutral strategies through Schroders.
Schroders and Nuveen have tied-up to offer two new funds on the Schroders UCITS GAIA platform.
The funds, Schroder GAIA Nuveen Equity Market Neutral and Schroder GAIA Nuveen Equity Long-Short funds focus on large-cap US equities. Further, they offer the added advantage of daily liquidity without a performance fee.

ESG Principles

Preqin Releases ESG Indicators

October 2, 2019

Preqin ESG scoring is now an offering for companies. Preqin established a methodology and common benchmark for managers to measure performance and reach financial and ESG targets.

AssetMark Financial Holdings Buys OBS Financial

October 2, 2019

AssetMark Financial Holdings announced an agreement with Canandaigua National Corporation to buy OBS Financial. OBS is a turnkey asset management platform.

Credit Suisse To Include ESG Criteria in Fund Assets Worth CHF 100 Billion By 2020

October 1, 2019

Credit Suisse Asset Management is set to introduce an ‘environmental, social, and corporate governance (ESG)’ investing framework across its funds The Credit Suisse ESG initiative will initially include 30 funds carrying assets more than CHF 20 billion. These funds will therefore need to reposition by end-October 2019 under the Credit Suisse Sustainable Investing Framework. Ultimately,…

BlackRock Hires

Credit Suisse COO Out Due to Spying Scandal (and Other People on the Move)

October 1, 2019

The Credit Suisse COO has stepped down after a bizarre spying scandal rattled the firm. An internal probe at the firm found that Pierre-Olivier Bouée ordered the spying on the bank’s former head of wealth management.