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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Preqin: Hedge Fund Performance Improved Again in October
Hedge fund performance remained strong in October. As investors cheered lower interest rates and progress on trade between the U.S. and China, hedge funds returned 1.06% for the month. That figure comes from the Preqin AllStrategies Hedge Fund benchmark. This figure followed an uptick of 0.4% in September.
Community Banking Recap – November 22, 2019
Earnings season is pretty much behind us now, and the Federal Reserve issued its latest minutes. While Wall Street is celebrating the fact that a historically high number of companies exceed the estimates, they are ignoring the fact that earnings were down quarter year over year.
Hedge Fund Firefly Demands Board Seat at Gulfport Energy
Firefly Value Partners is taking the activist approach with Gulfport Energy. The hedge fund has demanded a seat on the board of directors at the energy firm.
ZecOps Raises $10.2 Million Seed To Exploit Cyber-Attackers’ Mistakes
ZecOps received $10.2 million in seed funding from CEAS Investments, Evolution Equity Partners, KPN Ventures, Plug and Play Ventures, Stormbreaker Venture Group, and some angel investors.
SS&C GlobeOp’s Forward Redemption Indicator was 4.81% for November 2019
The SS&C GlobeOp Hedge Fund Performance Index for November arrived today. Here is a recap from the group’s press release from November 21, 2019.
Investors Concerned About Executive Compensation: Report From Farient Advisors
Engaged investors continue to be concerned about climate change, gender adversity, and pay equality, says a report from Farient Advisors and the Global Governance and Executive Compensation Group. Investors are perturbed about the disconnect between executive performance and ever-escalating compensation.
September Hedge Fund Redemptions Continue into Fourth Straight Month
Hedge fund redemptions continued for the fourth straight month in September. BarclayHedge says that investors’ redemptions hit net $14.7 billion in September. The figure comprised 0.5% of total hedge fund assets.
Ray Dalio Calls Next Economic Downturn the “Great Sag”
Bridgewater Associates founder Ray Dalio has warned about the next economic downturn on more than one occasion.
Louis Bacon to Shutter Hedge Fund Moore Capital
Louis Bacon will close his New York hedge fund Moore Capital and return money to investors. The Financial Times first reported the story on Thursday morning. The decision comes after three decades of tepid performance by the money managers’ hedge funds.
Lawmakers Trash Private Equity Report by Ernst & Young
Sen. Elizabeth Warren, Sen. Bernie Sanders, and other lawmakers call a report by Ernst & Young a result of “sham research.”
In a hard-hitting letter to Ernst & Young, the lawmakers alleged the private equity industry was fighting their Stop Wall Street Looting Act of 2019 “at every turn.”
AWS Killer? Blockchain-Based Cloud Storage in a P2P Architecture
Storj Labs’ beta storage service announced its Beta2 launch and the pricing thereof. The Tardigrade Decentralized Cloud Storage Service claims it costs less than half of legacy cloud storage providers.
Grayscale Bitcoin Trust to Add SEC Legitimacy: Files Form 10 (It’s Not an ETF)
In another first, the Grayscale Bitcoin Trust files a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC). If the SEC accepts the application, Grayscale Bitcoin Trust will be subject to various reporting obligations under the Exchange Act. These include filing annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The current 12 months compulsory holding period for private placement investors will reduce to 6 months.
Prosus is Hunry for Venure Capital Returns in Food Space
Prosus Ventures, the VC arm of Prosus NV, will continue to make investments in the food delivery space. A new report from Reuters suggests that the company is ready to double down on firms like Just Eat.
Two Sigma Enters Private Equity with Sightway Capital Fund
Sightway Capital, the new private equity arm of Two Sigma, announced the final close of a new fund. The Sightway Capital I fund will center around building companies in financial services and real assets.
Broadridge Financial Solutions Buys ClearStructure Financial Technology
Broadridge Financial Solutions announced today that it has purchased ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets.
Charles Schwab Looks to Purchase TD Ameritrade
Charles Schwab and TD Ameritrade could merge, according to CNBC’s Becky Quick. News of a possible deal dropped on Thursday morning.
Brazilian Digital Bank Neon Raises $94 Million To Triple Its Customer Base
Neon, a Brazilian digital bank, has raised US$94 million from top investors. The challenger bank has ambitious plans in a high-growth market. It will use the funds to triple the number of its new customers by 2020. It already has about two million active accounts.
Bill Gates-backed Startup Announces Clean Energy Breakthrough
Heliogen, a startup backed by Bill Gates, announced a breakthrough solar energy technology that could be a boon for heavy industry. Heliogen uses artificial intelligence and mirrors to reflect and concentrate sunlight to generate ultra-high temperatures. Said to be The Holy Grail of clean energy, it generates no emissions and is cheaper than fossil fuels.
Activist Carl Icahn Is Shorting Mall Owners – Should You?
Activist Carl Icahn has taken another big bet against a sector. This time, the hedge fund manager is targeting mall operators. Icahn could earn $400 million or more if mall operators start to face debt problems. According to the Wall Street Journal and its sources, Icahn likely holds the largest short position against these companies.
Here’s What’s in the Apollo Management 13-F
The Apollo Management 13-F reveals what the private equity and alternative investment firm bought and sold in the third quarter.
While we cannot see or benefit from their private holdings, they do have an active public securities portfolio and many of the same valuation techniques they use for private equity purchases are also used to select investments in public securities.
Fidelity Digital Assets Secures New York State License
Fidelity Digital Assets received a license from the New York State Department of Financial Services. The state regulator provided permission for the crypto-arm of Fidelity Investments to offer new services.
Prison For the Man Who Tried to Scam The Mooch
Premium Point Investments trader receives 40 months in prison for a mismarking scheme. Anthony Scaramucci has received justice from the firm that caused Skybridge Capital about a $79 million loss. Scaramucci’s fund of funds had sued Premium Point Investments on claims that the investment firm inflated the value of its hedge fund assets. Skybridge announced…
HarbourVest Closes Fifth Fund at $3 Billion
HarbourVest Partners announced it has closed its latest fund at $3 billion. The private equity shop announced the HarbourVest Partners Co-Investment Fund V at oversubscribed. its original target was $2.5 billion.
BB&T and Suntrust Receive Approval for Truist Merger
BB&T and Suntrust received approval for their merger of equals by the Federal Reserve System and the Federal Deposit Insurance Corporation.