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Elon Musk’s artificial intelligence startup, xAI, aims to secure $1 billion in equity financing to compete with industry leaders such as OpenAI, Microsoft, and Google. The company, co-founded by Musk, has already garnered $135 million from investors, as revealed in a filing with the US Securities and Exchange Commission.
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Private Equity: Private Equity Company Buys St. Petersburg Company Compulink
Private Equity: Private Equity Company Buys St. Petersburg Company Compulink St. Petersburg company Compulink Cable Assemblies is now under new ownership. The company manufactures cables and harnesses for both military and commercial purposes. kSARIA Corp. is the company that bought Compilink. kSARIA specializes in providing mission-critical connectivity solutions for defense and aerospace markets. The company…
Private Equity: Southeast Asian Private Equity Has $8.7 Billion to Spend
Private Equity: Southeast Asian Private Equity Has $8.7 Billion to Spend Despite the Coronavirus pandemic, private equity companies in Southeast Asia are sitting on a lot of cash. In fact, the pandemic has created more opportunities for these companies. One company is Ascent Capital Partners — a Singapore company planning to invest in tech, education,…
Private Equity: Private Equity to Invest More in Women’s Healthcare
Private Equity: Private Equity to Invest More in Women’s Healthcare Private equity has already heavily invested in the healthcare industry, but women’s healthcare has been overlooked. However, there has been a “substantial increase” in women’s health providers connected to private equity companies. According to researchers, 17 of the 24 women’s health companies that gained private…
Hedge Funds: Hedge Funds Hesitant on Gold
Hedge Funds: Hedge Funds Hesitant on Gold Hedge funds have reduced their focus on gold as the market for gold has become more turbulent. The CFTC illustrated that money managers decreased their gross long positions. Comex gold futures shrunk by 4,402 contracts to a total of 151,016. Short bets fell by 2,148. Gold’s net length…
Private Equity: Vista Private Equity Founder Under Investigation
Private Equity: Vista Private Equity Founder Under Investigation Private equity investor Robert Smith is currently under investigation regarding his taxes. Smith gained recognition when he donated to Morehouse College’s graduating class. Federal investigators are trying to figure out whether Robert Smith paid his taxes on assets worth millions of dollars. Smith is currently innocent and…
Hedge Funds: Investors Gain Interest in Hedge Funds Amid Pandemic
Hedge Funds: Investors Gain Interest in Hedge Funds Amid Pandemic Investors now plan to put more cash into hedge funds rather than less. This has not occurred in years. For instance, a survey by Preqin showed that 44 percent of hedge fund investors plan to invest in hedge funds in the next year. This is…
Private Equity: HSBC Closes Second Private Equity Fund
Private Equity: HSBC Closes Second Private Equity Fund HSBC has raised $260 million for its second Vision Private Equity fund. Last year, HSBC’s private equity fund closed at $250 million. The strategy for this fund is to make primary and secondary co-investments. These investments will be made globally and across various sectors and strategies. This…
Hedge Funds: Citi Wins Battle Against Hedge Fund and Creditors
Hedge Funds: Citi Wins Battle Against Hedge Fund and Creditors Citigroup won its battle to regain $900 million that it sent to cosmetic company Revlon creditors. Citi accidentally sent this money and intended to recover the funds as soon as possible. In addition, a U.S. judge blocked hedge fund Brigade Capital from doing anything…
Private Equity: Onex Corporation Promotes Le Blanc to President
Private Equity: Onex Corporation Promotes Le Blanc to President Private equity firm Onex has promoted Bobby Le Blanc to president. He will now oversee all business ventures and will serve as head of Onex Partners. Le Blanc will also be in charge of reporting to Chairman and CEO Gerry Schwartz. According to Schwartz, “Having joined…
Private Equity: Carlyle Group Orders Quarantine Requirement
Private Equity Giant Navigates Pandemic. Private equity firm Carlyle Group ordered all employees who have used public transportation such as trains and buses to a 14 day quarantine. The fund manager expects all of its employees at all offices to avoid public transportation. If they happen to use public transportation at all, they must work…
Hedge Funds Short on Dollar for First Time Since 2018
Hedge Funds: Hedge Funds Short on Dollar for First Time Since 2018 Hedge funds have decreased in share prices for the first time since May 2018. A decrease in price for the world’s reserve currency will continue as the market remains unpredictable. Net futures held by funds against eight currencies dropped to minus 7,881 contracts. …
Private Equity: Private Equity Takes Away from Texas Retirement System
Private Equity Takes Away from Texas Retirement System The Employees’ Retirement System of Texas’s private equity portfolio has lost 2.14 percent as of June 30. The private equity portfolio is worth $4.4 billion, but it was the biggest detractor at a 1.9 percent loss. Before the Coronavirus pandemic, the private equity portfolio was strong at…
Digital Assets: Coinbase to Allow Loans Against Bitcoin Holdings
This should be another shot in the arm for bitcoin adoption. Liquidity of holding is a much-desired feature of any asset, and U.S. digital assets exchange Coinbase is pulling out the stops on that one. In a Thursday blog post, the exchange invited US customers to sign up to a waitlist for the option to borrow up to 30% of their bitcoin (BTC) holdings.
FinTech/ESG: Solar Financier Loanpal Ties Up With Blackstone for $300M of Solar Loans
Loanpal, the fintech that is a market leader in financing of residential solar installations, announced Thursday that Blackstone (NYSE: BX) had committed to invest $300 million in solar loans originating on its platform. The amount committed will enable 10,000 homeowners to finance their solar systems, thereby reducing their homes’ carbon footprint.
Blackstone Invests in South Florida Real Estate
Real Estate Boon Amid Pandemic. Blackstone Group announced its completion of a real estate transaction with Elion Partners, which includes industrial properties in Broward County. The deal encompasses warehouses located in Weston, Coral Springs, and Pompano Beach. Elion Partners initially paid $35 million for these properties in 2018 and 2019. Medical devices company Venus Concept…
ESG Investments to Gain Popularity in Real Estate
ESG Investments to Gain Popularity in Real Estate As the environment becomes more of a priority among the public, environmental responsibility has become a priority for businesses and organizations as well. The looming effects of climate change are pressuring businesses and corporations to take action. Oil and gas companies in particular are facing increasing pressure…
Private Equity: Advent Invests in Hermes UK
Private Equity: Advent Invests in Hermes UK Courier services company Hermes will soon benefit from a hefty investment from private equity firm Advent International. Otto Group has previously announced that it will partner with Advent to grow Hermes Group in Germany and the UK. Advent International and Otto Group will partner their management teams to…
Liquid Alternatives: Prime Capital to Launch Liquid Alts Credit Fund
Liquid Alts Proliferate as Their Attributes Shine. Independent asset manager Prime Capital is one of the lastest firms to roll out a liquid credit fund. The fund offers a range of alternative credit strategies, including trade finance and real estate bridge financing. This fund will invest between 15 and 20 funds globally. They will be…
Real Estate: Foreign Buying of U.S. Properties Has Glim 2020 Outlook
COVID-19 is sparking a critical decline of overseas buyer interest. Foreign buyers have historically been a large part of the United States real estate market. Lately, however, the size and scope of foreign buyers has been declining. Even worse, the Coronavirus pandemic could exacerbate this trend as international buyers step away from the market. In…
Private Equity: Ares Raises $5 Billion En Route To $30 Billion 2020 Haul
Ares Leapfrogs Competitors Through Pandemic. Investment firm giant Ares has raised $5 billion for its private equity fund in the second quarter. The firm’s goal is to raise up to $30 billion across all practices, including real-estate and credit. So far in the quarter, Ares raised $400 million for its real-estate fund and $3.9 billion…
Sender’s Hedge Fund Sees Sharp Gains Amid Unprecedented Robinhood Stock Trading
Sender Company & Partners Up 30% YTD. Hedge fund Sender Company & Partners has seen a 30 percent net gain in 2020 following a series of bets on stocks that are popular on the Robinhood trading platform. Hertz, Tesla and Nio were among those driving skyrocketing returns. Sender is among a group of institutional investors…
Private Equity Powers Global Sustainability Initiative
A “New Normal” and Driving Force From Private Equity. The global private equity community is buzzing over news that several private equity powerhouses have come together in a bold move to reduce carbon emissions and increase sustainability in a game-changing manner. The firms aim to advocate for green investments and carbon-free portfolios in order to…
Digital Assets: Electric Capital Raises $110M For Its Second Crypto Fund
Venture capital firm Electric Capital invests in cryptocurrencies, blockchain-based businesses, fintech companies, and marketplaces. It announced Monday the close of its second fund, a $110M Seed and Series A fund, focused on crypto networks and blockchain-enabled businesses.
Illinois Municipal Fund Earmarks $125 millions for Alternative Investments
Alternative Investments: Illinois Municipal Fund Earmarks $125 millions for Alternative Investments Oak Brook — an Illinois-based Municipal Retirement Fund — has designated $125 million for alternative investments. The $125 million will be split — $75 million will be invested in Clearlake Flagship Plus Partners. $25 million will be invested in EnCap Energy Transition Fund I,…