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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SEC Fraud Charges: Cambridge Capital Group Advisors, Broad Reach Capital, San Diego-based ANI Development
NFL Fraud, Covering that Amex Tab, and a Scam Involving Booze in California SEC fraud charges are more common than you think. On Thursday, the SEC has charged multiple parties with fraud. The defendants comprise Cambridge Capital Group Advisors, its president Phillip Timothy Howard, and Don Warner Reinhard, a former RIA already barred by the…
SEC Charges Michael Hild for Fraud
Charges spawn from a complex bond pricing scheme Michael Hild, founder and CEO of Live Well Financial, faces charges for running a $140 million bond scheme. The U.S. Attorney’s Office for the Southern District of New York charged him with securities fraud, mail fraud, and bank fraud. The government says that the scheme involved the…
ThoughtSpot, an AI-powered, Data Analytics Startup, Raises $248 Million
The latest funding round takes Thoughtspot’s valuation to $1.95 billion and total funding to $554 million
Thoughtspot, which was founded in 2012 by Indian-origin tech entrepreneurs, is a US-based data analytics provider that uses artificial intelligence in its operations.
Alto Receives Seed Funding from Family Office
Alto wrapped up a $5.4 million seed fund round led by led by Jefferson River Capital, the family office of Tony James, Executive Vice Chairman of Blackstone
Also participating in the lead was Moment Ventures, a Palo Alto-based venture capital firm.
Other seed-round investors were Foundation Capital, Sequoia’s Scout Fund, and Amplify.LA.
Shanghai: 2019 World Artificial Intelligence Conference
The Shanghai expo on artificial intelligence commenced Thursday with plenty on the cards: A debate between Jack Ma and Elon Musk, deal-making and networking
The highlights of the conference so far, on Day 1 of the three-day conference:
Hedge Fund Starboard Value Gets Papa John’s a New CEO
Rob Lynch, the Arby’s executive behind the “We have the meats” campaign is the new CEO of Papa John’s International. Hedge fund Starboard Value invested $250 million earlier this year into Papa John’s International. As the stock slumped thanks to weak same-store sales and PR damage from its founder, Starboard pressed a turnaround plan. Today,…
Preqin Survey: Alternatives investors wary of ‘toppy’ markets
According to the Preqin Investor Update on Alternative Assets H2 2019, a rising number of investors believe that equity markets are at a top and likely to correct
Preqin, the data provider specializing in alternative assets, surveyed 177 institutional investors in July 2019 to gauge investor sentiment across various alternative asset classes.
According to the report, investment enthusiasm for alternative assets remains undiminished, with industry AUM at $9.5 trillion as at end-2018. Though investors’ outlook on the future performance of alternatives remains optimistic, this may not last.
Peter Thiel’s Founders Fund Exits Stake in Facebook.
The Founders Fund, which backed Facebook from its earliest days, has exited its stake in the social media company. The decision was part of a broader plan from the venture capital firm’s trading partner. The announcement came in an SEC filing on Monday, Reuters reports. Thiel now owns 63,550 Class A shares both independently and…
World’s Largest Asset Manager: CEOs Should Not Serve on Other Boards
BlackRock voted against 94 CEOs who wanted to serve on more than one board outside their company The world’s largest asset manager is taking aim at chief executives who sit on the board of directors of different companies. In a 32-page report, the company showed it had voted against 94 different CEOs who ran for…
The 30-Year Bond Yield Falls Below the S&P 500 Dividend Yield
The last time that happened was at the depths of the financial crisis in 2008-2009
Treasury bond yields are plunging because investors are bidding up bond prices in a rush to safety from macroeconomic fears such as trade wars and geopolitical turmoil. When bond prices rise, yields fall.
PNC Investments Creates List of Recommended Liquid Alts Funds
PNC collaborates with Morningstar on new liquid alts project PNC Investments has launched a recommended list of liquid alternative mutual funds. The broker-dealer arm of PNC Financial is creating the PNCI Liquid Alternatives Conviction list consists of 18 open-ended mutual funds. The firm’s five-person diligence team collaborated with Morningstar’s manager selection team to build the…
Sumitomo Mitsui Trust Asset Management to Open NYC Office
The new office will start with 10 employees and follow the blueprint of its London operations Sumitomo Mitsui Trust Asset Management (SMTAM) will open an office in Manhattan as soon as 2020. Japan’s largest asset manager, with $600 billion in AUM, plans to start with a staff of roughly 10 people. The announcement came from…
Eisler Capital Plucks Henry Howell from Goldman Sachs
A Goldman alum heads to a hedge fund… run by a Goldman alum Eisler Capital, a macro hedge fund based in London, has hired Henry Howell for a new role in business development. Howell, who worked at Goldman Sachs for 16 years, took the role in July. The news generated buzz this morning after reporting…
Industrious – a WeWork rival – Raises $80 in Latest Round
The coworking rival just raised money… but the bigger threat to WeWork is profitability in 2020 Industrious, a U.S. coworking firm, announced it has raised another $80 million in a recent Series D round. Since inception, the firm has raised $222 million in capital. Even more important, the company claims it will be profitable during the…
M&A Deal News – August 21, 2019
A new Osram suiter, Avaya finds an alternative to Mitel, an Italian-French merger, and Goldman takes China. Let’s look at Wednesday’s M&A Deal News. M&A Deal News – August 21, 2019: M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the…
Blackstone Hires Ram Jagannath to Head Growth Equity Platform
The new senior managing director has two decades of experience in the healthcare and technology sectors Add another senior name to recent Blackstone hires. The firm has hired Ram Jagannath as a Senior Managing Director for its relatively new Growth Equity investing platform. Jagannath will run healthcare investing at the firm’s growth equity business. Before Blackstone, Jagannath…
CFA Results for 2019 Show Drop in Performance
Roughly 20% of test-takers didn’t even show up in June CFA results are out from June’s annual testing, and the numbers are… The CFA Institute said that the percentage of test-takers who passed fell. It appears that the goal of expanding test access to new markets may have been responsible. The CFA I test is…
Blackrock Aims to Cut Fees and Risk in Private Equity Investing
Blackrock is upending the cozy status quo of high fees and high risk in private equity with its $ 870 million investment in Authentic Brands
Blackrock’s Long-Term Private Capital Fund (LTPC) made waves with its inaugural primary private equity deal when it invested $ 870 million for a majority stake in the marketing business of Authentic Brands.
The private equity industry sat up and took notice. But alarm bells are ringing in the industry: Will Blackrock move its cheese?
M&A Deal News – August 16, 2019
Another community bank deal, Softbank loves hotels abroad, and hospitals for sale in the Philippines. M&A Deal News – August 16, 2019: M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment space. Here’s our recap for…
M&A Deal News – August 20, 2019
More community bank mergers, the Chinese buy British pubs in bulk, and artificial intelligence. Let’s look at M&A Deal News. M&A Deal News – August 20, 2019: M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment…
Dreading the ‘R’ Word? Don’t, Says This Investment Manager
A recession is not imminent says Esty Dwek, Head of Global Market Strategy, Dynamic Solutions, Natixis Investment Managers
Here is an opinion that is a counterpoint to all the recent doom-and-gloom recession prophecies.
Small Business Debt Funding Platform Now Available on Your iPhone
Apple has approved the SMBX app, a crowdfunding debt financing platform for small business
Small businesses now have an alternative to their banks on their iPhones. SMBX, an app recently approved by Apple, has come to the rescue of small businesses that are unable to access financing from banks because of their insufficient credit history.
Ray Dalio: China Could “Weaponize” its US Treasury Holdings
Hedge fund titan Ray Dalio said to CNBC that China might well use its massive US Treasury holdings to gain a strategic advantage over the United States in the ongoing trade war
Will China use the nuclear option? That refers to China’s ability to dump its holdings of US Treasury bonds and thereby cause a massive rise in US interest rates that could potentially derail the US economy.
Ray Dalio: The Fed May Be Running Out of Bullets
The Fed tackled the last crisis through monetary easing. “But the power to do this is limited,” says Dalio. “Think of central banks cutting interest rates and purchasing financial assets (QE) as shooting doses of stimulants into their economies and markets.”