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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Occidental Petroleum and Carl Icahn

Carl Icahn is Relocating his Office to Miami (and More People on the Move)

September 13, 2019

Carl Icahn relocates, Aberdeen Standard Has New Reseach Head, and Blackstone Adds a New Director Carl Icahn is moving his hedge fund to Miami to capture better tax benefits. The hedge fund manager is relocating from New York. Icahn will move half of his employees and himself in early 2020, according to Reuters. Carl Icahn…

Dubai residential property is much cheaper than Hong Kong, London, and New York

September 13, 2019

On a global basis, Dubai real estate is relatively quite affordable
In an analysis of the city’s real estate market, Knight Frank has drawn an interesting comparison: in Dubai, $1 million will buy 143 sq m of residential space compared to 16 sq m in Monaco, 22 sq m in Hong Kong, and 31 sq m in both London and New York.
That’s quite a difference when you consider its strategic location and quality of life and safety rankings.

Regtech

RegTech Revenues Climb in Step with Startup Activity, Says CCAF Benchmarking Report

September 12, 2019

RegTech revenues in 2018 top $5 billion following a sharp pickup in startup activity
The above statistic is a finding of the “Global RegTech Benchmarking Report,” published by The Cambridge Centre for Alternative Finance (CCAF) and sponsored by EY Japan.

Hedge fund Autonomy Capital Drops $1 Billion on Argentinian Wagers

September 12, 2019

Autonomy Capital lost that much in one month following political turmoil in Argentina
Last month we reported on the losses suffered by Brazilian hedge fund Newfoundland Capital Management in Argentinian stocks.
Turns out Autonomy Capital, the prominent macro fund founded by Robert Gibbins, was also singed.

ECB announces massive stimulus; Trump cries foul

September 12, 2019

The European Central Bank launched a new bond buying package and cut deposit rates to stimulate the Eurozone economy

The central bank said it will purchase assets worth € 20 billion ($ 21.9 billion) every month until such time as necessary.

AT&T Gets Heat from Billionaire Activist

September 12, 2019

Hedge Fund Elliott Management writes to ATT on how to “realize a historic increase in value” for its shareholders
Billionaire Paul Singer owns Elliott Management. It revealed in its letter yesterday to telecom conglomerate AT&T that it owned $3.2 billion of the latter’s stock. Elliott’s open letter claimed that AT&T could boost its share price to $60+ by 2021 through “readily achievable initiatives.”

BlackRock Hires

Mizuho Americas Hires Bob Wright to Key Sales and Trading Role

September 11, 2019

The new hire will operate out of New York office Mizuho Americas has hired Bob Wright as its head of execution services sales and trading in the United States. According to a statement released by the company last week, Wright will report to Head of the Equity Division in the Americas Darlene Pasquill. The addition will…

Protos Hedge Fund

Now trade the world’s 1st tokenized hedge fund – 24/7

September 9, 2019

Protos, the world’s first tokenized hedge fund, opened to public investors this month
Crypto investors can now trade the Protos hedge fund tokens on the OpenFinance Network (OFN). OFN is an SEC-registered Alternative Trading System (ATS).

IGIS

‘The One,’ an 85-story Toronto skyscraper, funded by Korean institutions

September 9, 2019

outh Korean institutions lend C$560 million ($423 million) to IGIS Asset Management
IGIS will onward lend the funds to Mizrahi Developments, which is developing the skyscraper in Toronto, Canada.
Dubbed ‘The One,’ the mixed-use building will cost an estimated $1 billion. Once completed, it will be the tallest building in Canada.

The DailyAlts Weekend Reading List – September 7, 2019

September 7, 2019

Each week, DailyAlts Weekend Reading list recaps our favorite outside stories on the markets this week. FDIC Quarterly Banking Profile Day Trading Failure Is Now the Time to Buy Greece? Overcrowded Quality Counting on Bank M&A Net Current Returns The Top Real Estate Opportunities for the Coming Years Rise of the Sunbelt Fintech Inclusion Investors…

Office Properties Income Trust

Vista Equity Partners Raises Largest Tech-Focused PE Fund in History.

September 6, 2019

Tech funds still generate massive demand from investors Vista Equity Partners has raised the largest technology-focused PE fund in history. The shop raised $16 billion in outside capital for its new fund, Vista Equity Partners Fund VII LP. That figure exceeds the $15 billion raised by Silver Lake. It also surpasses the $12.6 billion raised…

UBS Taps Simona Maellare and Matt Eiler to Co-Chair Alts Capital Group

September 6, 2019

UBS Promotes Simona Maellare, Goldman Makes a Surprise Senior Trading Hire, Partners Capital Appoints Advisor Simona Maellare will co-head the alternative capital group of UBS, according to a report Friday. The Swiss bank has also appointed  US-based Matt Eilers as a co-head of the group. Maellare is very influential in London, where she served as…

SEC Charges Herbert Hafen With Financial Fraud

September 5, 2019

Hafen was previously barred by FINRA in early 2019 Herbert Hafen is having a tougher day than you are. The Securities and Exchange Commission has charged Herbert Hafen with defrauding multiple retail clients. From 2011 to 2018, Hafen allegedly misappropriated about $1.6 million of client assets. The U.S. Attorney’s Office for the Southern District of…

Alternative Investment Fund Launches and Updates – September 5, 2019

September 5, 2019

Investment fund launches and updates for September 5, 2019. Atlantic Street Capital said announced it closed its latest fund with a hard cap of $500 million. That figure tops its previous fund — Atlantic Street Capital IV LP — at $450 million. Private equity firm Innova Capital announced it had closed its Innova VI fund…

BlackRock Hires

People on the Move: AG & Co., TigerRisk Partners, Bookend Capital, and Clarion Capital

September 5, 2019

TigerRisk Partners Appoints New CEO People on the Move for September 5, 2019 TigerRisk Partners appointed James Few to the role of CEO at its London office. Few now reports to company President and COO Rob Bredahl. He comes over from MS Amlin where he modernized the firm’s global reinsurance business. Few leads a busy…

Office Properties Income Trust Announces Sales of Four Properties

September 4, 2019

The multistate deal allows the firm to pay off unsecured loans Office Properties Income Trust announced the sale of four buildings this week. The buildings are in San Antonio and Arlington Texas, as well as one in Hanover, PA. Gross proceeds for the sale reached $223.2 million before closing costs. The firm will use the…

Revisiting the End of an Era at Blackstone Group

September 4, 2019

The departure of Bennett Goodman will reverberate across the company for years. The Bennett Goodman era comes to a close as the co-founder of GSO Capital Partners is stepping down. Along with J. Albert Smith III and Douglas Ostrover, Goodman founded GSO in 2005 and sold the operations to Blackstone in 2010. During that time,…

Brookfield Business Partners Buys Big Stake in Genworth Canada

September 4, 2019

The deal will see Brookfield take the majority of shares in the mortgage giant Brookfield Business Partners reached an agreement to buy a controlling stake in Canada’s largest private mortgage insurer. Brookfield said it would pay $1.8 billion for a 57% stake in Genworth Canada, according to the press release. The sale further increases the…

BlackRock Hires

People on the Move: Goldman Sachs, JPMorgan, Close Brothers, and KKR

September 3, 2019

Marty Chavez Will Depart Goldman Sachs after 19 Years at the Wall Street Titan People on the Move for September 4, 2019 The big news today is the announcement that co-head of Goldman Sachs’ securities division Marty Chavez is departing the company. Chavez served briefly as CFO last year and was considered a candidate to…

Alternative Investment Fund Launches and Updates – September 4, 2019

September 3, 2019

Investment fund launches and updates for September 4, 2019. U.K.-based infrastructure and small-cap PE manager Foresight is launching its fifth regional private equity fund. The £100 million funds will focus on companies in the SME sector in the East of England. Hence the name: The East of England Fund. Next up, the Asian hedge fund…

Alternative Investments: Warning Alarms are Sounding

September 3, 2019

Could the mountain of ‘dry powder’ be too much of a good thing?
Warning notes are sounding that fund managers, weighed under by mounting investible funds with few good enough ideas to invest, may be forced to accept lower returns.

ESMA Hikes Frequency of Liquidity Stress Tests on European funds

September 3, 2019

European funds such as UCITs, AIFs, and ETFs must conduct quarterly liquidity stress tests, according to the European Securities and Markets Authority (ESMA)
The funds must implement these tests from September 2020.

BlackRock Hires

People on the Move – Rivendell Partners, Revolut,iCapital Network, and Gide Loyrette Nouel

September 2, 2019

Rivendell Partners, Revolut, Alpha FMC, iCapital Network, and Gide Loyrette Nouel People on the Move – September 3, 2019 Revolut has faced pressure in recent months due to its customer service and compliance limitations. The banking startup continues to expand at a breakneck pace (more than 6 million users since its 2015 launch). Now, after…

Alternative Investment Fund Launches and Updates – September 3, 2019

September 2, 2019

Investment fund launches for September 3, 2019. First up, venture capital firm Golden Gate Ventures has filed to launch a $200 million fund in partnership with South Korea’s Hanwha Asset Management. The Singapore-based VC fund also said it will focus on Series B startups in the Southeast Asian region. Next, Hosen Capital is seeking $750…