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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Saudi Arabian Venture Shop Aims for a Second $500 Million Fund
A Saudi Arabian venture capital firm is looking to raise money for a second $500 million fund. STV, which backed Careem Networks, is exploring options for its second fund.
A “Shocking” End to Neil Woodford’s Flagship Fund
Neil Woodford is out as manager of the fund he founded. And now, the fund will shut down. Fund administrators closed the fund and said it was not in the best interest of investors to keep it open. Due to financial regulations, investors will not receive their capital back until mid-January 2020.
Liquid Alternatives: The Waypoint All Weather Liquid Alternative Mutual Fund
Toronto-based Waypoint Investment Partners launch their first liquid alternative mutual fund.
The Waypoint All Weather Alternative Fund is a defensively-oriented mutual fund. It combines a portfolio of capital distributors and capital compounders with a put option overlay to shield from market drawdowns.
Bitcoin ETFs and SEC: ‘Last Man Standing’ Wilshire Phoenix Amends Bitcoin Filing
The Wilshire Phoenix Bitcoin ETF has amended its Bitcoin ETF Filing with the SEC.
The SEC has invited public comments on the bitcoin exchange-traded fund proposal filed by Wilshire Phoenix Bitcoin ETF. This action follows a revised filing by the fund and NYSE Arca on October 4.
Private Equity Giant Thoma Bravo Eyes $15 Billion Fund in 2020
Thoma Bravo, the Chicago-based, software-focused private equity shop, is considering a megafund. Bloomberg reports the PE firm wants to establish a $15 billion megafund in early 2020.
LGT Capital Partners Announces Close of $1 Billion Asian Fund
LGT Capital Partners announced the successful raise of $1 billion. The Swiss alternatives manager will allocate the capital to its fourth private equity fund in the Asia-Pacific region.
Peter Thiel and Others Pony Up $50M for Wind and Solar Powered Crypto Mining in Texas
Layer1 is building a chips-to-substation crypto mining facility in Texas that will run on renewable energy.
Never mind that crypto mining is best undertaken in cool climes – Iceland, for instance. But Layer1 has an ace up its sleeve – a proprietary new technology for cooling the chips that mine cryptocurrencies. So the Layer1 crypto mining facility lies 150 miles west of Midland, Texas.
Is a WeWork Bailout on Tap?
A WeWork bailout could be coming from JPMorgan or Softbank. Two weeks after the office-sharing giant pulled its IPO, its cash position has deteriorated. CNBC reports that the two banks are examining a plan to offer debt and equity to WeWork.
Revolut Swings for the Fences; Plots $1.5B Fundraise
Revolut, the European challenger bank, prized fintech, and uber-hot unicorn, wants $1.5 billion.
Revolut’s fundraise, if successful, would achieve two momentous feats: A company valuation of $5 – $10 billion, and entry into the select club of startups that managed to raise $1 billion or more in a single funding round.
Melvin: Are Community Banks an Alternative Investment?
Are community banks alternative investments? That question requires a deeper understanding of liquidity, structure, and broader market correlation. Before we start, it’s worth noting that the Chartered Alternative Investment Analyst (CAIA) Association has a specific definition for alternative investments.
Auriga Launches WWS AI For Advanced Banking Insights
Bankers can now get an Artificial Intelligence-led insight into their banking operations with the help of Auriga’s new WWS AI module. Auriga’s WWS AI module is a component of its WinWebServer omnichannel banking software suite.
Baker McKenzie: Prepare for a Downturn in M&A
The Chicago-based law firm issues its key projections for 2020 Baker McKenzie released its latest report, Global Transactions Forecast 2020: Powering Through the Downturn. The report addresses topics around M&A trends, IPO growth, and global GDP in 2020. This report examines M&A markets around the world and lays out the firm’s projections for 2020. Baker…
John Lidington Will Co-Manage Man Numeric’s Liquid Private Equity Strategy
Man Numeric have appointed John Lidington as co-portfolio manager of its liquid private equity strategy alongside existing portfolio manager Charles Liu.
Liquid private equity may sound like a contradiction in terms. However, Man Numeric invests in small, listed companies that mimic the profile of a typical private equity portfolio.
Therefore, the strategy seeks to generate returns (and carry risk) similar to that of a buyout fund. However, the investor gains from vastly better liquidity and much lower costs.
Hilton Grand Vacations Might Experience a Bidding War
Hilton Grand Vacations may soon experience a bidding war from two private equity titans. Apollo Management has reportedly made an offer for the Orlando0based timeshare company. Early reports suggest a price of $40 per share. Its competitor Blackstone may also make an offer for Hilton Grand Vacations.
New International E-Registry of Shipping to Reside on The Blockchain
An advanced new blockchain-based ship registration system is under development.
The Singapore Shipping Association (SSA), the International Chamber of Commerce (ICC) and Singapore tech startup Perlin are jointly going to develop the International E-Registry of Ships. The new blockchain-based ship registration system will streamline, standardise and generally improve the current ship registration and renewal procedure.
French Pension Fund Dodges U.S. Treasury Market
ESG Concerns Shun the World’s Most Liquid Market A French pension fund and several other ESG funds are shunning the U.S. Treasury market. The funds found fault this week with the United States government and listed reasons for divestment. According to Bloomberg, ESG funds at Erste Asset Management, Joh. Berenberg Gossler, and Union Investment are…
The DailyAlts Playbook – October 15, 2019
THE DAILYALTS PLAYBOOK October 15, 2019 Today, the DailyAlts Playbook talks defections at the Libra Association, this very weird venture capital story that involves an actress from the Wonder Years, sacked CEOs, and the CEO that one California resident wants out of the board room. PRIME OVERVIEW Good morning, Global markets are ticking higher on…
Overlay Shares: The Icing on Your Index ETF Cake (Now for Everybody)
Once the preserve of accredited investors and institutions, this suite of Overlay Shares ETFs is now available to the everyday investor. A capital-efficient overlay strategy combines with an underlying core index ETF to generate an additional, incremental, and tax-efficient income stream.
KKR & Co Cuts IPO Price for Latitude Financial
KKR & Co and its investment partners will lower the IPO price for their Australian non-bank lender Latitude Financial. A Reuters report indicates that the private equity giant could drop the price by at least 11%. This is likely a disappointment for KKR & Co. and its partners Deutsche Bank and Varde Partners. This is the second attempt to list Latitude, which was set to go public this week.
JP Morgan: Fund Flows May Point to Higher Recession Risk
JP Morgan suggests that retail investors and consumers are losing confidence in the U.S. economy. The bank cited the outflows of capital from the equity markets and the rush of capital into bonds as a reason. In 2019, $683 billion has moved into bond funds. Meanwhile, stock funds have seen outflows of $177 billion. These figures come from the Investment Company Institute, EPFR, and Bloomberg.
More Defections from the Libra Cryptocurrency Project
The Libra cryptocurrency project has lost another major partner on Monday over regulatory scrutiny around the stablecoin. Today, Booking Holdings – the company behind Priceline, Kayak, and Booking.com – dropped out of the Libra Association.
Two Private Equity Firms Buy Management Services Arm of AECOM
Private equity firms Lindsay Goldberg and American Securities are buying assets from construction giant AECOM. The target company issued a report this morning saying it agreed to a deal worth $2.4 billion for its management services division. That arm of the company provides logistics and technical services to the Federal government.
EY Report Talks Dealmaking in the Year Ahead
The latest EY report on M&A activity for the year ahead reveals interesting technology trends. EY is a leader in assurance, tax, transaction, and advisory services. The company finds that business leaders have altered their portfolios due to a challenging geopolitical environment. However, the firm notes that 52% of global corporate leaders plan to pursue acquisitions in the next year.
Cerberus Buys Closure Systems International from Reynolds Group
Cerberus Capital Management announced that one of its affiliates has entered into a definitive agreement to buy assets from Reynolds Group. The private equity giant will acquire the North American, Costa Rican, and Japanese businesses and related facilities of Closure Systems International.