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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The Blackstone Group 13-F Recap for the Third Quarter
The Blackstone Group 13-F for the third quarter emerged this week. While we cannot see the private company holding of Blackstone in these filings, we can see what publicly traded securities they own.
H.I.G. Capital Raises $3 Billion for New Fund in Less Than Four Months
H.I.G. Capital, the Miami buyout shop, has raised more than $3 billion for its new LBO fund. In less than four months, the firm completed a raise for its H.I.G. Middle Market LBO Fund III.
Alden Global Capital Buys Stake in Tribune Publishing
Alden Global Capital has purchased Michael Ferro’s 25.2% stake in Tribune Publishing. Ferro was the largest shareholder of the newspaper company. The deal priced the stake at 9 million shares at $13 each. That brings the value of Ferro’s stake to $117 million.
Commissioner Lee Focuses the SEC on a revamp of ESG
SEC Commissioner Allison Herren Lee wants the SEC to clarify its role and update disclosure requirements on ESG.
In prepared remarks addressed to the Investment Advisory Committee (IAC), SEC Commissioner Lee drew attention to investors’ growing interest in ESG. The IAC was meeting to consider the topic “Whether Investors Use Environmental, Social, and Governance (ESG) Data in Investment/Capital Allocation Decisions.”
Here’s The Third Quarter KKR 13-F
The KKR 13-F emerged last week. Managers must submit 13-Fs every quarter. These forms list all the securities they own for themselves and their investors.
Dennis Davitt Joins Hedge Fund Malachite Capital (And Other People on the Move)
Malachite Capital has hired David Davitt as a Portfolio Manager and Head of Malachite Equity Strategies.
There’s Hope Still for a Bitcoin ETF; SEC Reviewing Bitwise Rejection
The SEC is revisiting its rejection last month of the proposal from Bitwise Asset Management for a Bitcoin ETF.
In a document published on November 18, 2019, the United States SEC said it would review the ETF application filed by Bitwise Asset Management and NYSE Arca.
Blurring Lines of Distinction Between Banks and Fintechs
Fintechs and techs are trying more and more to masquerade as banks. Should banks take the battle into the fintech camp?
Here’s an interesting viewpoint: Incumbent and traditional banks are “no less” fintech than the technology startups.
Spotify’s First Backer Northzone Closes $500 Million Venture Capital Fund
Northzone, the Swedish venture capital firm that backed Spotify out of the gate, announced its largest fund to date.
Mitsubishi Prepares to Launch U.S-Based REIT
Japanese trading giant Mitsubishi Corp. will launch its first U.S.-based real estate investment trust.
Buyout Shop Warburg Pincus Sells Accelya to Vista Equity Partners
Warburg Pincus has sold European airline services giant Accelya to private equity giant Vista Equity Partners. Multiple reports valed the deal at €1.5 billion.
Recap of the Brookfield Asset Management Earnings Report
The Brookfield Asset Management earnings report emerged last week. The company had another solid quarter. Fee-related earnings before performance fees increased 35% over the prior-year quarter.
Workers Trust Artificial Intelligence More Than Their Bosses
Industrial automation is a major risk to jobs, according to thought leaders like Elon Musk. Even though robots could replace up to 800 million jobs by 2030, employees are happy to see their bosses go.
Your ‘Feel-good’ ESG Fund is on a Tear: But Do You Know Why?
Investors should examine the underlying holdings of their ESG-focused funds to determine hidden portfolio risk.
CNBC’s Mitch Goldberg warns that a lot of the outperformance in many ESG funds has nothing to do with ESG factors. Instead, the credit for the ESG outperformance should go to the sizable component of technology stocks in these funds’ portfolios.
Technology stocks have significantly outperformed the broad market and maybe the hidden booster to your ESG fund’s performance.
AI Can Now Predict Lightning Strikes
An inexpensive tool combines machine learning and AI to forewarn of lightning bolts.
A team of researchers from École Polytechnique Fédérale de Lausanne, Switzerland, has found a way to use artificial intelligence (AI) to predict lightning strikes within 10 to 30 minutes.
The area covered at a single time is a 30-kilometer radius (approximately 18.6 miles).
Private Equity Shop Ethos Capital Buys the .Org Domain Registry
Ethos Capital has purchased the Public Internet Registry, the group that maintains the .org registry. The private equity firm purchased the registry from the Internet society, according to a statement this week. The deal marks the end of nearly two decades of control by the Internet Society.
Casino “Whale” Caesars in Eldorado’s Net: Shareholders Green Light Their Merger
Thanks to Carl Icahn’s activism, and an $8.58 billion acquisition kitty, Eldorado is in the driver’s seat in US casino operations. It will soon have Caesars in its fold. After completion of the transaction in 2020, Eldorado will be the biggest casino operator in the U.S.
Taylor Swift Draws Private Equity Giant Carlyle into Her Music Spat
Tay Swift’s appeal for help has put Carlyle in the cross-hairs of both her fan following and Sen. Elizabeth Warren.
In emotionally charged posts on Tumblr, pop star Taylor Swift laid bare her grouses against her former music label Big Machine Label Group.
Celebrity media manager Scooter Braun’s holding company Ithaca owns Big Machine. Private Equity giant Carlyle helped finance Ithaca’s acquisition of Big Machine.
WeWork Layoffs to Total 4,000 to 6,000 Over Five Years
WeWork layoffs are coming, and the number could range between 4,000 and 6,000 employees. The WeWork layoffs are set to start this week. According to International Business Times, the company will make an announcement on Tuesday. The New York Times says that the firm will lay off about one-third of its workforce by June 2020.
Non-transparent ETFs Will Soon Get Active Managers Into the Act
Active fund managers will soon get to join the passive party via “stealth” ETFs.
The SEC has granted asset managers T. Rowe Price, Natixis, Fidelity, and Blue Tractor preliminary regulatory approval to launch non-transparent ETFs. These new ETFs require their holdings to be declared quarterly, instead of daily.
Are Climate Change Disclosure Lawsuits Coming for Asset Managers
Mark McVeigh is an environmental scientist from Australia. Although he will not have access to his retirement funds until 2055, he is suing his pension fund.
Icahn Capital, Berkshire Hathaway and the Battle Over Occidental
Icahn Capital and Berkshire Hathaway were among the asset managers to release 13Fs last week. While Warren Buffett boosted his stake over Occidental Petroleum, Carl Icahn faced a setback in his legal battle against the company.
ExodusPoint Will Reopen and Raise Another $2 Billion
ExodusPoint Capital Management will reopen its arms in 2020 to add a few billion to its AUM. The hedge fund was the industry’s largest in 2018 at $8 billion.
Fundstrat’s Lee: Bitcoin ETF Workable Only at $150,000
Fundstrat’s Tom Lee, a Bitcoin perma-bull, says the crypto would have to rise to $150,000 to support ETF-like volumes.
ETF-wishers should, therefore, pray for Bitcoin to rise nearly 18 times from its current price of $8490, if Tom Lee’s prediction is to come true.
That’s a tall order, even for the medium-term.