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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Juniper Research: B2B Cross Border Payments to Boom on Blockchain
Juniper Research predicts that B2B cross-border payments on Blockchain will boom over the next five years. The report suggests that these payments will boom from $171 billion this year to $4.4 trillion by 2024.
David Rubenstein: ESG Will Have a Big Role in Private Markets
David Rubenstein said Tuesday that ESG factors now play a big role in how investors allocate capital in the private markets. The Carlyle Group co-executive chairman discussed environmental, social, and governance issues at the Greenwich Economic Forum.
McKinsey: North American AUM Hit $43 Trillion Last Year
A new McKinsey report puts total North American AUM at $43 trillion. The market hit that figure saw a 7% jump from the previous year. That said, industry profits (not-including alternative investments) declined by 3.7% to just $42.6 billion.
MBK Partners Eyes $6 Billion Buyout Fund
MBK Partners aims to raise up to $6 billion for a new buyout fund. The firm – operated by ex-Carlyle Group executives – could reach its first close by the end of the month, according to Reuters.
Ray Dalio Thinks the World Has Gone Mad
Bridgewater Associates chief Ray Dalio issued a lengthy warning to the global markets. In a LinkedIn post date November 5, Dalio said that the “World has gone mad and the system is broken” in his title.
UK Regulator: Fire Fund Managers Who Ignore Climate Change
Guy Opperman says we have settled science. Guy Opperman had some tough words for money managers who “ignore” climate change. The U.K. minister for pensions and financial inclusion said pension operators should fire money managers who do not support climate change resolutions. Opperman spoke on the subject at the Association of Member Nominated Trustees’ (AMNT)…
Will Walgreens Shatter the Private Equity LBO Record?
KKR and other PE Firms are Eyeing the Pharmacy Benefits Giant Walgreen Boots Alliance is talking to private equity firms about going private. CNBC reports that KKR is one of several shops thinking about buying the $55 billion company. Such a deal would be a massive purchase for one private equity shop. It could also…
Masayoshi Son “Humbled” After $8.9 Billion Loss for Vision Fund
Masayoshi Son is reportedly “humbled” after SoftBank reported its first quarterly loss in over a decade. The CEO took hits from all directions after the fund reported an $8.9 billion hit to its Vision Fund. Simply put: WeWork is to blame for the loss.
AstraZeneca Launches $1 Billion Fund with CICC (with an AI Twist)
AstraZeneca, the British pharma giant, will launch a $1 billion fund with China International Capital Corporation (CICC).
NBER: Beware Bond Mutual Funds and Their Reported Holdings
The National Bureau of Economic Research issued a stark warning about bond mutual funds and risk. In a new report, NBER says that at least 30% of bond mutual funds hold riskier assets than what Morningstar reports. The agency released this warning in a report titled “Don’t Take Their Word For It: The Misclassification of Bond Mutual Funds.”
Inmarsat Rejects Oaktree’s Push to Delay Court Hearing
Oaktree Capital had requested a delay to a takeover court hearing around the takeover of Inmarsat. The British satellite company, however, rejected the delay for the November 12 meeting. Oaktree wants greater insight into the status of Inmarsat’s U.S. spectrum holdings.
HCM Capital to Launch Second, Larger Venture Fund
HCM Capital is reportedly exploring a new fund to invest in early tech startups. HCM Capital receives funding and support from Foxconn Technology Group. A report in Reuters notes that the group is looking to invest in Silicon Valley and other tech hubs around the globe.
An Ares Management Earnings Recap
Ares Management shows strong revenue gains. Ares Management earnings arrived last week. Revenue grew by 94% to $466.5 million year-over-year while the reported earnings of $.23 a share represented a 153% increase over last year. Assets under management rose 15% to $144.3 billion. The Ares Management earnings report also showed a 14% increase in the…
CEM Benchmarking: How REITs Match Up Against Other Investments
In October, CEM Benchmarketing compiled a study for the National Association of Real Estate Investment Trusts (NAREIT).
The study is called “Asset Allocation and Fund Performance of Defined Benefit Pension Funds in the United States, 1998-2017.”
Ardevora Asset Management to Shut Its Trading Desk
Ardevora Asset Management will shutter its desk and outsource its trading and execution to Northern Trust. The TRADE first reported the development on Friday.
Brown Advisory Launches Global Leaders Sustainable Fund
Brown Advisory has announced the launch of the Global Leaders Sustainable Fund under its Irish domiciled UCITS umbrella. The $76 billion company said that the new UCITS Fund adds environmental, social and governance (ESG) screens to its top quartile performing Global Leaders Strategy. According to a press release, the addition of the ESG screens came in response to client demand.
CPPIB to Buy Pattern Energy Group for $2.63 Billion
The Canada Pension Plan Investment Board (CPPIB) announced plans to buy Pattern Energy Group for $2.63 billion. CPPIB announced details of the deal for the renewable energy giant on Monday. Shareholders will receive $26.75 for the stock. That figure is actually lower than the price the stock traded for earlier in the day. In the final hour of trading on Monday, PEGI stock was off 2.5% at $27.03 per share.
Leon Cooperman: Stop Vilifying Billionaires
Hedge fund manager tears up while discussing the political divide Hedge fund manager Leon Cooperman teared up on CNBC Monday while discussing his spat with Elizabeth Warren. The U.S. Senator and Democratic candidate called Cooperman out recently as part of her broader vilification of billionaires. Cooperman recently sent a letter to Warren discussing his career…
Berkshire Hathaway Beats Earnings Despite Global Economic Woes
Berkshire Hathaway reported earnings on Saturday (more on why in a moment). Warren Buffett’s firm announced that profits topped Wall Street expectations thanks to resilient consumer spending. The firm’s success came despite ongoing trade disputes between the U.S. and China and threats of new tariffs.
Simplifya Exec John Vardaman: Cannabis and Banking Bring Transparency
Simplifya executive John Vardaman says that the Federal status of cannabis laws make it one of the most transparent industries for banking.
Jeremy Corbyn Takes Shot at Crispin Odey
Jeremy Corbyn has launched his campaign for Prime Minister ahead of a December 12 snap election. The British Labour leader used his campaign launch to take shots at Crispin Odey. Corbyn accused the head of Odey Asset Management of being one of many “representatives of a rigged system.”
ABI Research: U.S. Represents 52.3% of All Artificial Intelligence Investment
ABI Research said this week that the United States is the top market for investment in artificial intelligence. According to the study, the U.S. represented 52.3% of all AI investment in 2018. That figure signaled that the U.S. has replaced China as the global leader.
Breaking Down Ares Management and Its Earnings Report
Ares Management Corporation reported earning this week. Revenue grew by 94% to $466.5 million year-over-year. Earnings per share came in at $0.23. That figure represented a 153% increase over last year. Assets under management rose 15% to $144.3 billion. Ares also announced a 14% increase in the quarterly dividend. The shares now yield more than 4%.
Key Takeaways from Investor Day at Brookfield Asset Management
Brookfield Asset Management held its Investor Day recently. Management made a few things very clear.
First, if interest rates remain low, investors will have no alternative except alternative investments.