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

Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes

December 7, 2023

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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The DailyAlts Playbook – Repo markets, BlackRock’s Climate Reversal, Bubble Warnings, and the Not-so Surprising News from Tribune Newsrooms

January 14, 2020

The DailyAlts Playbook talks repo markets, BlackRock’s climate reversal, bubble warnings, Climate Change funds, and the non-so surprising news out of Tribune newsrooms

Fintech: Goldman Sachs Launches Its Marcus App

January 14, 2020

Online bank Marcus from Goldman Sachs Group has finally come to mobile devices. The Wall Street financial giant launched its long-awaited app for customers last week. The lack of an app has been an ongoing source of frustration for customers who could only see balance transfers, account information and make payments on loans with their phones and other devices.

Hedge Fund Westbeck Capital Management: Time to Bet on Canadian Energy

January 14, 2020

Westbeck Capital Management is turning its attention to beaten-down Canadian energy companies. The energy hedge fund believes that these firms will have stronger cash flows in the year ahead compared to their U.S. shale competition. The fund also says that U.S. producers are facing stronger production drops than the Canadian firms.

Hedge Fund Alden Global Capital Offers Buyouts to Tribune Publishing Employees

January 13, 2020

Tribune Publishing buyouts are coming. And it didn’t take long for newsroom jitters to become a reality. Just two months after Alden purchased a 32% stake in the publisher, it has offered buyouts to Tribune employees. The hedge fund is notorious for reducing employee headcounts and expenses at the publications it purchases.

Fintech: The Reserve Bank of Australia Sees Little Need for Libra Project

January 13, 2020

The Reserve Bank of Australia is the latest central bank to suggest that the Libra cryptocurrency project will not work. It also questioned the viability of central bank digital currencies (CBDCs), which have previously received support from central bankers like Mark Carney and Christine Lagarde.

Hedge Fund Citadel Distances Itself from Ex-Employee over Illegal Trading

January 13, 2020

Hedge fund Citadel issued a statement last week that distanced itself from a former trader who profited from non-public information. Michael Mindlin worked for Citadel between June 2016 and June 2018. However, U.S. regulators just fined him for illegally profiting from tips tied to the Affordable Healthcare Act in 2014. At the time, Mindlin worked for Stelliam Investment Management.

Fintech: California Pushes New Fintech Regulations

January 13, 2020

The State of California could soon overhaul the regulatory oversight of financial technology companies. Governor Gavin Newsom released details of his 2020-2021 budget. Inside, the proposal includes a provision to make the California Department of Business Oversight as the regulator of fintech companies. The agency would also regulate debt collectors, credit reporting agencies, and other firms tied to consumer finance.

Hedge Fund PointState Capital Blocks Investors from Withdrawing Cash in Full

January 13, 2020

PointState Capital has moved to stop investors from pulling all of their capital in full. According to an investor letter seen by Bloomberg, the company will only allow recent redemption requests to obtain 88% back in cash. The remaining 12% will be distributed as portfolio shares for new vehicles that have “somewhat limited liquidity.”

Venture Capital: What the IPO Market Needs Now – To Wake Up

January 13, 2020

Casper Sleep, the online mattress retailer, has filed for its initial public offering. According to an SEC filing, the company has planned an offering at $100 million. Morgan Stanley, Jeffries Financial Group, and Goldman Sachs are leading the share sale.

The DailyAlts Playbook – PointState’s Redemption Woes, Crypto Whale Dominance, a Sleepy IPO, and a Contest to Fly around the Moon with a Love-Starved Japanese Billionaire.

January 13, 2020

Today, the DailyAlts Playbook talks PointState’s redemption woes, Crypto Whale dominance, a sleepy IPO, and a contest to go around the moon with a love-starved Japanese billionaire.

Amazon Tells Users to Uninstall Fintech Browser Honey Over Security Issues

January 13, 2020

The browser extension Honey just lost a huge source of opportunity. Just weeks after PayPal purchased the browser extension for $4 billion, Amazon has told customers to uninstall it. The e-commerce raised questions about consumer privacy and said that the extension represented a “security issue.”

ETF Challenger WisdomTree Wants to Launch a Stablecoin

January 13, 2020

WisdomTree is pushing to launch a regulated cryptocurrency in the U.S. markets. The firm’s stablecoin would be pegged against a basket of assets – which could include government debt, the U.S. dollar or even gold.

Pitchbook: Private Equity Firms Topped $300 Billion in Fundraising Last Year

January 10, 2020

Pitchbook data reveals that private equity firms shattered fundraising records last year as investors seek alternatives to traditional markets. A new report shows that PE shops raised more than $300 million last year. That figure is 52% higher than the $198 billion raised in 2018. It also shatters the previous record of $241 billion from 2016, Pitchbook says.

BlackRock Joins Climate Action 100+

January 10, 2020

Climate Action 100+, an investor network that is pushing for disclosures into carbon emissions, has inked BlackRock to its roster. The three-year-old investor group is pushing for commitments to reduce fossil fuel-related emissions. The world’s largest asset manager joins firms like CalPERS, Allianz, and UBS Asset Management.

Private Equity: TPG to Launch Strategic Capital Fund

January 10, 2020

TPG has announced plans to launch a new strategic fund that emphasizes stakes in public companies. The activist bend operates on a different approach. Rather than taking the hostile approach of corporate raiders, TPG aims to mirror Berkshire Hathaway.

Alternative Investments: Sen. Ron Wyden Dismisses Ethos’ Response to .org Domain Sale

January 10, 2020

The protest over the sudden and non-transparent sale of the .org domain to an obscure private equity firm for $1.35 billion has three Democratic Senators embroiled in it. Last month, U.S. Sens. Ron Wyden, D-Ore., Richard Blumenthal, D-Conn., and Elizabeth Warren, D-Mass., with Rep. Anna Eshoo, D-Calif., questioned whether nonprofit groups, free speech, and internet users would be harmed selling control of .org domains to Ethos Capital, a private equity firm.

Artificial Intelligence: Warner Bros Will Use AI to Decide Which Films to Make

January 10, 2020

Artificial intelligence gets a foothold in Hollywood. Warner Bros has signed on L.A-based startup Cinelytic to use the latter’s AI-based film management system, according to an exclusive from The Hollywood Reporter.
Cinelytic’s system will enable the studio to make quicker and more data-driven decisions on which films to put on the production floors.

Private Equity: Nuveen Combines Two Owned Entities to Form a $21B Private Capital Platform

January 10, 2020

Nuveen has created a unique direct access private capital platform by bringing together its private equity and junior capital group with Churchill Asset Management, its middle-market senior loan and unitranche financing business. for 2018 at the USA M&A Atlas Awards.
The new platform, to be known as Churchill, would manage over 250 portfolio investments and more than 150 limited partner investments in middle market private equity funds. It would be a one stop capital source for private equity firms and institutional investors.

Alternative Investments: CalPERS May Foray Into Private Debt

January 10, 2020

CalPERS, the largest pension fund in the country, may invest in private debt to boost returns. The fund may also change its investment policy on private debt on the initiative of Chief Investment Officer Ben Meng. Meng would certainly be aware that other funds are likely raking in returns as high as 10% on private debt.

The DailyAlts Playbook – “Clown Airplanes”, Russian and Chinese-focused funds, AQR staff cuts, and Brexit Beginnings – January 10, 2020

January 10, 2020

Today, the DailyAlts Playbook talks “Clown Airplanes”, Russian and Chinese-focused funds, AQR staff cuts, Brexit Beginnings, and an offer for our new readers.

Alternative Investments: Venture Capital Joins PE in Solar Development – Mercom Capital Group Report

January 10, 2020

Mercom Capital Group reported that corporate funding for solar development topped $11.7 billion in 2019. That figure represented a sharp increase of more than 20% from the previous year. The consulting firm tracked funding last year from public markets, debt financing, venture capital, and private equity. 

CrunchBase: VC Deal Volume in 2019 Doesn’t Quite Match 2018

January 10, 2020

CrunchBase says that between 2010 and 2019, roughly $1.5 trillion spilled into VC deals. The bulk of that figure came from an acceleration of deal-making over the last few years, the report says. The report states that deals came in at $322 billion in 2018, with a huge uptick in late-stage investment. CrunchBase expects that 2019 VC deal-making will total $294.8 billion, which would be the second-largest figure on record.

Artificial Intelligence: AI Can Detect Brain Cancer In Minutes With Patient Lying on The Operating Table

January 9, 2020

A new optical imaging technique used together with an artificial intelligence (or AI) algorithm accurately diagnoses the presence, or otherwise, of a brain tumor in under two minutes. New research published Monday in Nature Medicine said the AI-based diagnosis was 94.6% accurate compared to the 93.9% accuracy from the standard lab-based procedure.

Private Equity: Manulife Investment Management Closes $1.5 Billion PE Fund

January 9, 2020

Manulife Investment Management has closed $1.5 billion in commitments for a new fund, Manulife Private Equity Partners (MPEP). MPEP is the company’s first fund-of-funds product. It is part of the firm’s shift toward specialized asset management solutions for global investors.