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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Fintech: Indonesian, Agent-Driven Banking Network PAYFAZZ Raises $53 Million

July 6, 2020

PAYFAZZ, an Indonesian fintech start-up, scooped up $ 53 million in a Series B funding round led by B Capital Group and Insignia Ventures Partners. Existing investors Tiger Global Management, Y Combinator, ACE & Company, and Quiet Capital also participated in the funding. New investors included BRI Ventures.

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BlackRock Cuts First Private Equity Deal for Authentic Brands

August 12, 2019

BlackRock becomes the largest stakeholder in a company with a powerful portfolio of global brands. BlackRock announced over the weekend that it scored a 30% stake in Authentic Brands.  The deal means that BlackRock’s portfolio will now include a stake in Sports Illustrated, Nine West, Aeropostale, and Juicy Couture. In addition, Authentic owns more than…

The Death of Sears – We’re Well Past 1,000 Cuts

August 9, 2019

Eddie Lampert’s Transform Holdco will shutter another 26 shops as Sears’ demise accelerates. The death of Sears will continue at a slow, steady pace well into the fall. Next week, Transform Holdco, the company created by Sears Chairman Eddie Lampert to purchase the retailer’s assets out of bankruptcy, will start “liquidation sales” at locations it…

ESG Hedge Fund operated in Sweden

ESG Hedge Fund Falters in Sweden

August 9, 2019

The fund had only $2.46 million in assets one year into its operations Handelsbanken Fonder will shutter its ESG hedge fund Handelsbanken Hållbarhet Hedge on September 5, according to a letter to investors. Despite increasing demand around the globe for ESG strategies, the Swedish asset manager cited low client enthusiasm. Launched in February 2018, the…

Chicago - Najarian Brothers

Najarian Brothers Welcome New Advisors to Cannabis ETF

August 9, 2019

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 Icon

Venture capital funding in healthcare AI pops in Q2

August 9, 2019

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…

Jeffrey Tarrant - In Memorium

Jeff Tarrant Passes Away at 63

August 9, 2019

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

August 9, 2019

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

August 8, 2019

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

August 8, 2019

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…

FINTRAC money laundering warning

Hoplite Capital to Shut Its Doors After 16 Years

August 8, 2019

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….

The Bitcoin ETF Trust

Don Steinbrugge: Hedge funds to Buy More Bitcoin

August 8, 2019

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 iPipeline

Thoma Bravo Sells iPipeline to Roper Technologies 

August 8, 2019

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…

The Institute for Energy Economics

Did BlackRock Lose $90 Billion of Client Money on Fossil Fuels

August 7, 2019

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…

Aecom-Canyon Partners

Managed Futures Funds: These Mega Bulls Could Trigger the Next Big Sell-Off

August 7, 2019

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

August 7, 2019

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

August 7, 2019

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…

Private Equity Stocks

Barclays Predicts Big Gains Ahead for Private Equity Stocks

August 7, 2019

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

August 7, 2019

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

Ray Dalio: Bet Both Sides of the Sino-U.S. Trade War

August 7, 2019

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…

Hedge Funds

Bill Ackman Ditches Stakes in United Technologies, ADP

August 7, 2019

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

August 6, 2019

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,…

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Alleged Hedge Fund Fraud Links Lewitt, Biden’s Brother

August 6, 2019

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

August 1, 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

July 25, 2019

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