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.
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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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Former Hedge Fund Manager Tom Steyer Would Like to Be President
Tom Steyer, the energy-investing billionaire turned environmentalist “anti-billionaire,” hit the debate stage for the first time this week. The 62-year-old hedge fund manager turned activist has called for Donald Trump’s impeachment. He has also pledged $100 million of his own money for the Democratic nomination.
Capco’s Prime Brokerage Consulting To Support Prime Brokers
Capco announced its new Prime Brokerage Consulting offering to support prime brokers.
Capco is a global management and technology consultancy dedicated to financial services and energy industries. Its Prime Brokerage Consulting offering will guide prime brokers through regulatory change and data and digital transformation agendas. It will also assist on other projects such as vendor selection.
E-Trade Not Likely To Be An M&A Play…Yet
Charles Schwab’s acquisition of TD Ameritrade puts paid to E-Trade’s deal-making hopes.
According to the New York Post, which quoted informed sources, E-Trade is unlikely to be in merger play now that the two largest brokerages have joined forces.
CipherTrace Q3 2019 Cryptocurrency Anti-Money Laundering Report Takeaways
CipherTrace has released its Q3 2019 Cryptocurrency Anti-Money Laundering (AML) Report. Here are the key takeaways from this quarter’s report.
‘What’s Your Poison…Er…Whisky?’ Let AI tell you
If you want a single malt, but don’t know which, an artificial intelligence (AI)-based app will guide you.
Diageo has launched an online service that will help consumers choose their whisky based on answers to 11 questions.
Ant Financial Looks to Inject $1 Billion into Asian Tech Startups
Ant Financial has started raising $1 billion for a fund focused on Southeast Asia and India. The fintech arm of Alibaba is looking to expand its presence across the growing region.
Manulife: India’s Mutual Fund Market To Leapfrog To Second Largest in Asia
The size of the Indian mutual fund market is currently about $ 390 billion. According to Manulife’s Dommermuth, India will be the fastest-growing mutual fund market in Asia. Within three years it will surpass $600 billion in size and overtake Japan to become the second-largest mutual fund market in the region.
Private Equity Firm Warburg Pincus to Raise $1.5 Billion India-Focused Fund
An India-focused private equity fund is coming to the markets. PE s Warburg Pincus announced plans to raise $1.5 billion for its first fund centered around India. Reuters reported that the company is bullish about opportunities in the country.
Research from Preqin Shows Funds Lost $34.4 Billion in Q3
Research from Preqin shows that the hedge fund industry lost $34.4 billion in the third quarter. This was the sixth-straight quarter that outflows outpaced inflows. That said, the strong performance across hedge fund strategies have bolstered AUM by 3.5% since the start of the year.
American Hotel Income Properties REIT Buys 12 Hotels
American Hotel Income Properties REIT acquired a portfolio of 12 well-maintained Premium Branded hotels. The deal for the 12 hotels, totaling 1,203 guestrooms, is $191 million.
Could the Charles Schwab-TD Ameritrade Deal Move Big Banks’ Cheese?
After acquiring TD-Ameritrade for $26 billion, Charles Schwab will get its hands on even more cash. TD-Ameritrade currently invests its customer cash through Toronto-Dominion Bank and other banks. All that liquidity could now flow into the Charles Schwab bank, potentially earning much higher interest.
Japanese Government Wooing Hedge Funds Away from Hong Kong
The Hong Kong political crisis has certain hedge funds looking for an exit. A delegation from Tokyo’s financial industry has organized meetings to lure these funds to move to Japan.
Howard Marks: WeWork IPO Failure a Sign of Market Discipline
Oaktree Capital co-chairman Howard Marks said that failing tech IPOs in 2019 is a sign of investor discipline. The billionaire money manager discussed WeWork’s near-collapse and failed IPO with Reuters this week. WeWork had abandoned its planned Q3 IPO after the company released its S-1.
Carbon Credit Generator EcoSecurities Back in Pioneer Moura Costa’s Fold
JP Morgan acquired EcoSecurities in 2009 for $220 million but sold it in 2013 to Mercuria, the global energy, and commodity group.
According to a Reuters report, Mercuria has now sold Ecosecurities back to Pedro Moura Costa and partner Pablo Fernandez for an undisclosed amount.
Real Estate Private Equity Firm Raises $540.8 Million
Green Courte Partners specializes in niche real estate investing.
Think airport parking. Leased land communities. Senior housing. Green Courte Partners is a private equity real estate investment firm that builds top-flight companies operating within special, niche real estate sectors. Green Courte Partners has just closed its fifth investment fund, Green Courte Real Estate Partners V, LLC (“GCREP V”), with total capital commitments of $540.8 million.
Alternative Investments: Money Managers Aren’t Meeting Climate Funding Goal
Asset Managers and Climate Change
Venture Capital Firm MiddleGame Raises $165 Million for Funding Fintechs
MiddleGame Ventures, which focuses on financial services innovation at early-stage fintech startups, closed its $165 million Fund I MGV fund. The fund will invest in startups transforming financial services from “analog to digital, and from centralized to decentralized.” It willl back B2B and B2B2C fintech startups.
Alternative Investments: Alpha Real Capital Launches European Long Income Fund
Long income funds proved very resilient during the financial crisis. They still offer value in a different crisis – that of ultra-low or negative interest rates.
Low rates are a crisis all right for institutional investors such as pensions, endowments, insurance companies, and credit unions. And Europe is now again in negative territory. According to Alpha Real Capital, European long income property offers investors the opportunity for a significant yield differential over government and corporate bonds with comparable credit quality.
Pensions Jack Up Exposure to Alternative Investments
Interest rates have been declining since the financial crisis and the resultant falling investment returns have put pension funds under pressure. Pension funds turn to alternative investments to offset the chronic low rates regime.
Alternative Investments: BlackRock Warns on Global Growth
Global economic growth sits atop a list of concerns from BlackRock. On Tuesday, the alternative asset manager said it has shifted toward defensive Asian stocks. A report indicates that the company has turned to sectors like telecommunications in China. The group released its projections for next year in a 2020 report on the region.
Tom Barrack Faces Activist Challenge at Colony
Tom Barrack is facing new activist pressure from Blackwells Capital after a period of underperformance.
The three-way merger with two NorthStar REITs has, to be kind, not worked well at all for Colony.
The REIT has seen its stock price reduced by two-thirds over this time.
Barings Launches Onshore Private Fund in China
Barings announced the launch of its first onshore Private Fund in China.
The Barings China A-share Private Securities Investment Fund No.1 has registered with the Asset Management Association of China.
Maxine Waters Takes On The Private Equity Industry
Last week, U.S. House Financial Services Committee Chair Maxine Waters held a hearing to discuss private equity firms and their role in society.
Hedge Fund Alden Global Capital Has Bought Another Stake in Tribune Publishing
Alden Global Capital now owns about one-third of Tribune Publishing, according to a new SEC filing. A week after buying a big stake from Michael Ferro, the hedge fund boosted its holdings to 32% of the company.