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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Fed Governor Michelle Bowman Talks Community Banking
Fed Governor Michelle Bowman spoke at the opening of the” Community Banking in the 21st Century” 2019 Community Banking Research and Policy Conference sponsored by the Federal Reserve System this week. She discussed takeover activity in the sector.
Private Equity Giant KKR Announces Special Situations Fund III
Private equity giant KKR & Co wants to raise $1.5 billion for its third special situations fund. Reuters reported the June registration of KKR Special Situations Fund III. The private equity firm said during its Q2 conference call that it planned to raise capital for a new special situations fund.
Hedge Fund Manager David Tepper Lays Out Family Office Plan
David Tepper, the billionaire hedge fund manager, will soon return capital to investors as he shifts toward a family office. However, Tepper will continue to manage money for 15 lucky investors.
Federal Reserve’s Harker: The Fed Will Have a Digital Currency (One Day)
Digital currency may come to the Federal Reserve in the future. Philadelphia Federal Reserve President Patrick Harker expects that the U.S. central bank will begin issuing a digital currency.
John McAfee Invents Something on Blockchain
McAfeeDex is poised to launch on Monday. Bitcoin advocate John McAfee announced the launch of his latest crypto project on Friday.
Elizabeth Warren: Everything is Wrong with Private Equity, Everything
The “Elizabeth Warren War on Private Equity” hit a new stride after the Democratic candidate took aim at PE firms that own or back for-profit colleges. Recently, Senator Warren (D-Mass) and Representative Mark Pocan (D-Wisc.) co-signed a 30-page letter to six private equity firms about investment in these colleges. The Democrats asked several questions about the schools’ marketing, tuition costs, federal aid practices, profits, graduation rates, and related legal actions.
Peter Thiel’s VC Firm is Suing “Winnie Cooper’s” Sister
Crystal McKellar played Becky Slater on The Wonder Years. Her older sister is Danica McKellar, who played Winnie Cooper. And today, she faces a breach of contract lawsuit from Peter Thiel’s Mithril Capital Management. Put on your seatbelt…
Mall REITS Reeling after Forever 21 Bankruptcy
Forever 21 is just the latest retailer to file bankruptcy and announce a wave of store closings. The news will impact Real Estate Investment Trusts that own mall properties (Mall REITs).
Waratah Capital Advisors’ New Liquid Alternative Mutual Fund
The Waratah Alternative Equity Income Fund gives investors access to one of the Group’s flagship strategies and star portfolio manager Jeannine LiChong.
The Waratah Alternative Equity Fund is the firm’s first liquid alternative mutual fund. It is a long-biased, actively managed portfolio of North American equities, with a focus on Canada. The fund can use options and short positions for risk protection.
Mutual Fund Giant Vanguard to Test P2P FX Trading with Blockchain
Mutual fund giant Vanguard Group has started testing a peer-to-peer FX trading platform. The experiment is part of a partnership with Symbiont.
PayPal is AWOL at Libra Association Meeting on Digital Assets
Paypal was a prominent absentee at a crucial strategy meeting of the Libra Association held in Washington Thursday.
The 28 member Libra Association backs Facebook’s globe-spanning plan for the Libra digital currency. According to a report in the Financial Times, the agenda for the meeting was the global groundswell of regulatory opposition to Libra.
A person familiar with the event confirmed to the FT that all members showed up for the meeting except PayPal.
Oil Rich Norway’s Government Pension Fund Slashes Exposure to… Oil Production
Norway’s Government Pension Fund Global, Oslo, will cut its exposure to upstream energy production. The pension fund will cut 50 billion Norwegian kroner ($5.5 billion) in equity allocation from its investment portfolio.
IndexIQ And Nasdaq Dorsey Wright Tie Up to Offer A Liquid Alternatives ETF Model
IndexIQ launched the IQ Alternative Allocation Model, the first liquid alternative model on its platform, in collaboration with Nasdaq Dorsey Wright.
The IQ Alternative Allocation Model provides an absolute return strategy built around IndexIQ’s suite of liquid alternative ETFs.
Finablr And Samsung Pay Announce New Fintech Money Transfer Service
For the first time in the US, a Samsung Pay user can transfer money internationally to 47 countries using their mobile.
Finablr, a UK-based and listed fintech, has partnered with Samsung Electronics to offer secure cross-border payments within Samsung Pay, the native mobile wallet. The consumer simply initiates the Money Transfer tool inside the app.
The DailyAlts PlayBook – October 4, 2019
Today, the DailyAlts Playbook talks about the robot apocalypse on Wall Street, the Forbes 400, Zuckerberg’s billionaire statement, and LaVar Ball (sorry about that). The markets are in the red this morning as investors prepare for a fresh round of U.S. economic data.
Automaker Ford Using Artificial Intelligence To Optimize Daily Driving
Ford has developed an Artificial Intelligence-driven database that will accelerate its transition from automaker to a mobility company.
It is accordingly partnering with American cities to solve mobility challenges. City Insights is Ford Mobility’s artificial intelligence-based collection of decision-enabling tools, custom algorithms, and data services.
State Street on Blockchain: The Trickle of Digital Assets Will Soon Turn Into A Flood
State Street, the huge custody bank which holds assets of over $30 trillion, may soon see a flood of blockchain-based digital assets. According to Jay Biancamano, State Street’s head of digital assets and blockchain in capital markets, historically illiquid assets may soon use the blockchain to become more liquid.
FireEye Is Seeking a Private Equity Buyer, Hires Goldman Sachs as Advisor
FireEye (FEYE) is reportedly seeking a private equity buyer. The news comes after the firm failed to locate a strategic buyer. The company reportedly hired Goldman Sachs to guide them through the process. Multiple reports suggest that discussions are in the early stages of development.
Libra Association to Meet in Switzerland to Discuss Digital Assets: Make or Break?
No one thought setting up a globally acceptable cryptocurrency such as Facebook’s Libra would be easy. But the Libra Association’s upcoming meeting in Switzerland may show which of its members are in for the long haul.
Hedge Fund Solel Partners Launches with $600 Million AUM
Solel Partners began trading this week with $600 million AUM. According to Bloomberg, former Highfields Capital Management partners Craig Peskin and Peter Fleiss are leading the fund.
Sports Gambling Meets Venture Capital
The Sports Gambling Investment Fund has announced the formation of its first fund. The group aims to discover, fund, and mentor startups entering the casino and gaming business.
Martin Gilbert is Departing Aberdeen Standard Investments
Martin Gilbert is not seeking re-election as chairman of Aberdeen Standard Investments. Instead, he will also depart his role vice-chairman of parent company Standard Life Aberdeen on Sept. 30, 2020. Gilbert co-founded the company in 1980 and helped steer its merger with Standard Life in 2017.
Schroders Launches A Private Equity Fund On Its GAIA II Liquid Alternatives Platform
Investment manager Schroders has launched a private equity fund on its GAIA II liquid alternatives platform.
The Schroder private equity fund, titled “Schroder GAIA II Specialist Private Equity fund,” will target unlisted companies with an enterprise value of up to $250 million.
Cloud And Saas Banking Startup nCino Raises $80M
nCino, the startup known for its cloud-based, SaaS solution for banking operating systems, raised $80 million.
nCino’s cloud-based, banking operating system runs off the Salesforce platform. Existing investor Salesforce Ventures participated in the funding round, which was led by funds and accounts advised by T. Rowe Price Associates, Inc.