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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Najarian Brothers Welcome New Advisors to Cannabis ETF
Jon and Pete Najarian on Board Biotech Entrepreneur and Cannabis Investment Specialist The Najarian brothers of CNBC fame have welcomed two new members to the strategic advisory team of Innovation Shares’ Cannabis ETF (THCX). The ETF, which launched in July, will add Stable Road Capital CIO, Brian Kabot, and healthcare and biotechnology entrepreneur, Neal Patel,…
Venture capital funding in healthcare AI pops in Q2
Venture capital funding continues to rise in the healthcare artificial intelligence space A new report from CB Insight shows that venture capital investment surged in startups for healthcare artificial and mental health and wellness. Funding for both sectors hit new records in the second quarter. During the first half of the year, investment in healthcare companies…
Jeff Tarrant Passes Away at 63
The hedge fund pioneer made a legendary bet against Warren Buffett on activist traders Jeffrey Tarrant, the co-founder of Protégé Partners, has passed away at 63 after a battle with brain cancer. According to a statement from Protégé Partners, Tarrant died at his Bridgehampton home on August 5. Tarrant was a legendary seed investor, money…
BlueMountain Capital Sold to Assured Guaranty
Affiliated Managers Group sells its state to the Bermuda-based municipal bond and infrastructure insurer, for $91 million. BlueMountain Capital has struggled in 2019. At the end of June, its flagship Credit Alternatives fund ‘s performance showed a 4% loss. Affiliated Managers Group said it was working to bring the fund back to profitability. The fund…
Scaramucci: Trade War Holds Back Capital Expenditures
Anthony Scaramucci thanked President Trump Thursday for helping to bolster the alternative investment industry after the 2017 Jobs and Tax Cuts Act. However, he then warned the White House that CEOs are holding back capital investment due to Trump’s erratic stance on global trade. As a guest host on Squawk Box Thursday, the former White…
“Venture Capital” Investor Tanmaya Kabra Busted for Alleged Ponzi Scheme
Prosecutors say a 25-year-old he used investors’ money to buy a boat and pay off credit cards. Tanmaya Kabra told clients he was a Venture Capital investor and serial entrepreneur. He ran a company called Launchbyte.IO that – on the surface – invested in tech startups as venture capital funds do. Kabra allegedly told investors…
Hoplite Capital to Shut Its Doors After 16 Years
The announcement came in a letter to shareholders after lackluster returns. John Lykouretzos will shutter Hoplite Capital and return capital to investors. The hedge fund manager addressed his decision in a letter to shareholders this week. “I have decided to close the Hoplite managed funds and return third-party capital as soon as possible,” he wrote….
Don Steinbrugge: Hedge funds to Buy More Bitcoin
The long-term Bitcoin bull is the latest manager to spot a growing trend in cryptocurrencies Don Steinbrugge, Agecroft Partners Founder and CEO, expects hedge fund managers to start gobbling up Bitcoin. The consultancy chief made his comments in a CNBC interview on Tuesday. During his conversation, the crypto bull called Bitcoin a “fantastic technology” and…
Thoma Bravo Sells iPipeline to Roper Technologies
The $1.625 billion deal is another win for the private equity shop Private equity firm Thoma Bravo has announced it will sell cloud-software firm iPipeline for $1.625 billion. Roper Technologies will make the purchase for a software firm dedicated to life insurance and financial services clients. As a result, the deal ends a four-year partnership…
Did BlackRock Lose $90 Billion of Client Money on Fossil Fuels
It depends on how one defines opportunity costs and if you cherry pick data… But “Big Oil” might be to blame The Institute for Energy Economics and Financial Analysis (IEFFA) has called out the world’s top money manager by assets. According to an IEFFA report, BlackRock reportedly lost clients an estimated $90 billion in over a…
Managed Futures Funds: These Mega Bulls Could Trigger the Next Big Sell-Off
Here’s a toxic mix of factors that could trigger a self-sustaining downturn in already top-heavy markets. Trade war machinations, a bull run in stocks that is long in the tooth and a dithering Fed.
Add to this a group of hedge funds, known as managed futures funds, that have loaded to the gills with bullish bets on the market.
And these guys, $300 billion in size, are computer-driven.
Fintech 2020: Reflections from Fortune’s Brainstorm Finance conference
A summary of the fintech soundbites from the event on the foggy shores of Montauk
Key trends: Facebook’s Libra, bank fortunes, Amazon, and millennials’ wallets.
Blackstone Buys Stake in BC Partners
Raymond Svider’s shop gets a boost of confidence. The Blackstone – BC Partners deal is official. Following a big run up, the U.S. private equity giant plans to invest $560 million into its European rival. Blackstone’s Alternative Asset Management (BAAM)’s Strategic Capital Group will own up to a 15% stake in BC Partners. BC Partners…
Barclays Predicts Big Gains Ahead for Private Equity Stocks
Alternative asset demand, corporate conversions, and even a recession are positive catalysts for PE shops Barclays is bullish for private equity stocks heading into the backend of 2019. Barclays analyst Jeremy Campbell initiated coverage on several private equity firms on Monday Three companies received a Buy rating. Here’s a quick recap of the ratings and…
IBM Unveils “Trust Your Provider” Blockchain Project
The new project aims to reduce time-consuming manual processes The new IBM blockchain project “Trust Your Supplier” (TYS) debuted this week. In a press release, IBM said TYS is “designed to eliminate manual time-consuming processes and help reduce the risk of fraud and errors, ultimately creating frictionless connectivity across supply chains.” The project is part…
Ray Dalio: Bet Both Sides of the Sino-U.S. Trade War
The Bridgewater founder told investors in an interview to bet on “both horses in the race” as global tensions heighten. Ray Dalio, the outspoken founder of Bridgewater Associates, told investors on Tuesday to invest in China as the country liberalizes its economy. Encouraging investors to bet on “both horses in the raise,” Dalio raised eyebrows…
Bill Ackman Ditches Stakes in United Technologies, ADP
Activist manager Bill Ackman walks away from two positions. Pershing Square Capital Management chief Bill Ackman is out of United Technologies (NYSE: UTX). The outspoken activist manager chose to drop his stake in the defense company instead of fighting the firm’s planned takeover of rival Raytheon Corp. (NYSE; RTN). The deal – expected to exceed…
Barings Taps Hedge Fund Manager to Lead Institutional Division
Stewart Russell makes the jump from Moore Capital management. Barings, an asset manager owned by MassMutual, announced it has hired hedge fund manager Stewart Russell to the role of Head of Institutional Solutions. Stewart, who departs Moore Capital management, will lead the company’s new unit that centers on institutional investment services. In a statement released Tuesday,…
Alleged Hedge Fund Fraud Links Lewitt, Biden’s Brother
Two healthcare companies are suing a hedge fund manager and James Biden Accusations of hedge fund fraud are back in the headlines. A hedge fund manager and the brother of a Presidential candidate are accused of defrauding two medical companies in Tennesee. Last month, Azzam Medical Services and Diverse Medical Management filed a complaint with…
CipherTrace Cryptocurrency AML Report: $4.26 billion siphoned during the first half of 2019
Its a big, evil world out there in cryptoverse. Scams and hacks abound, and the amounts are getting bigger
The CipherTrace Cryptocurrency AML Report for Q2 2019 makes for some alarming reading. Digital currencies and exchanges appear to have become the happy hunting grounds of criminals who can steal billions of dollars with ease and impunity.
LSE snaps up Refinitiv for $27 billion
LSE shares surge higher on news of the deal; erstwhile Refinitiv owners will own 37% of LSE
The three-hundred-year-old London Stock Exchange Group made a massive bid to extend its reach into data by agreeing to buy Refinitiv, the global provider of data and tradi
Moody’s Acquires RiskFirst, a Fintech that Analyzes Risk
Moody’s is looking to enhance the product portfolio of its Moody Analytics unit by acquiring risk analysis fintech RiskFirst.
RiskFirst’s offerings are geared towards institutional investors such as asset managers, pension funds and endowments.
Private Equity Firm KKR Snaps Up Campbell’s International Business for $2.2 billion
According to reports, private equity giant KKR has pipped Australian rival Pacific Equity Partners to the post in the race to acquire Campbell Soup’s international business including Arnott’s biscuits.
The deal is said to be have been struck at $2.2 billion, which is about 13.5 times 2019 EBITDA.
Gatwick Airport: An infrastructure investment that paid off handsomely for CalPERS
When the California Public Employees’ Retirement System (CalPERS) invested $155 million in Gatwick Airport nine years ago, they envisaged 32 million passengers annually.
Gatwick is already catering to 46 million passengers a year. And it can only get better from here – because Heathrow, the other London airport, is at full flight capacity.
Unsurprisingly, CalPERS’ original investment of $155 million is now worth over $1.24 billion.