New Mountain Capital racks up $15.4bn for the sixth buyout fund... [more]Laxman Pai, Opalesque Asia: New York-headquartered growth-oriented alternative investment firm New Mountain Capital closed its seventh fund at $15.4 billion, exceeding hard cap with help from the largest-ever GP commitment.
The fund hit its $14 billion hard cap and includes a $1.4 billion gene
Ardian raises $3.2 billion for sixth-generation co-investment platform... [more]Bailey McCann, Opalesque New York: Ardian has raised $3.2 billion for the sixth generation of its co-investment platform Ardian Co-Investment Fund VI, including fund commitments and mandates from Ardian Customized Solutions.
The firm says fund VI is 23% larger than its predecessor fund which
Schonfeld's flagship hedge fund ends H1 up 10.3%... [more]From Reuters: Hedge fund Schonfeld Strategic Advisors' flagship fund Strategic Partners ended the first half of the year up 10.3%, driven by positive performance across different strategies and after posting a gain of 1.9% last month, a source familiar with the matter said.
Quantitative equities
Bobby Jain's hedge fund starts trading... [more]From Financial News: Former Millennium Management co-chief investment officer Bobby Jain's hedge fund has started trading with star portfolio managers, four global offices and billions of dollars in capital.
Jain Global's $5bn launch is the biggest debut in the global hedge fund industry since E
Brazilian hedge funds are moving markets across Latin America... [more]From Bloomberg: Early in the morning of June 7, interest-rate futures spiked wildly in Mexico. All week long, they had held steady even as the peso plunged in the wake of the ruling leftist party's landslide election victory. But now, the selloff was suddenly spilling into the rates market.
As y
Investing: Hedge funds betting against staples going into Q3... [more]From Seeking Alpha: Hedge funds are betting against staples going into the third quarter, a possible sign they expect solid enough economic growth to avoid a rotation into defensives.
Even as they continue to take profits in tech, hedge funds are shorting Consumer Staples (NYSEARCA:XLP) names,
People: AllianceBernstein appoints its first chief AI officer... [more]AllianceBernstein, a global investment firm with $757 billion in assets under management, today announced Andrew Chin has been named the firm's first-ever Chief Artificial Intelligence Officer.
As an AB operating committee member with a 27-year career at the firm, Mr. Chin was previously AB's He
Commodity: Hedge funds are hoarding cobalt amid battery metal slump... [more]From Bloomberg: Hedge funds including Anchorage Capital Advisors and Squarepoint Capital LLP have been building positions in cobalt by buying up physical material, as tumbling spot prices and a more liquid futures market create new trading opportunities in the battery metal.
Cobalt is a relativ
Tech: Citadel's Ken Griffin says he's not convinced that AI will replace human jobs in the near future... [more]From CNBC: Ken Griffin, founder and CEO of Citadel, said he remains skeptical that artificial intelligence could soon make human jobs obsolete as he sees flaws in machine learning models applied in certain scenarios.
"We are at what is widely viewed as a real inflection point in the evolution of
U.S.: Top asset managers rack up $95bn in deal profits, but shareholders focus more on fees... [more]From WSJ: A recent study estimated that five U.S. publicly traded private-equity firms earned nearly $100 billion between them in carried interest, or shares of deal profits, over more than two decades, even as their shareholders pay more attention to the billions of dollars those firms also generat
MENA: Abu Dhabi's original hedge fund island is running out of office space... [more]From Bloomberg: Abu Dhabi's quest to attract top hedge funds to its financial center is creating a shortage of office space in the oil-rich emirate.
After struggling to attract tenants for years, the four sleek towers in Abu Dhabi Global Market, which has long sat on Al Maryah Island, are nearly
PE/VC: VC-backed IPOs had a tepid first half, squeezing venture capital more... [more]From WSJ: Hopes for a resurgence of venture-backed initial public offerings at the start of the year are petering out, prolonging a drought in exits for venture-capital firms.
One reason is the cool reaction in public markets to debut stocks, which is making other aspirants less interested in
Activists: Global activism increases 7% to 147 campaigns in first half... [more]From Bloomberg: New campaigns by shareholder activists reached record levels globally in the first six months of the year, data from Lazard Inc. show.
The number of new activists campaigns totaled 147, up 7% from 138 in the same period in 2023 and 29% above the five-year average, Lazard said in
And, finally: That didn't work... [more]From KTVO: Kelsey Lynn Schnetzler, 34, of Salisbury, Missouri, was charged with stealing thousands of dollars' worth of lottery tickets from her employer, Casey's General Store, KTVO-TV reported.
Schnetzler's home-court MO may have been what got her nicked: Every evening during her shift, she t
Criminals continue to fleece high net-worth individuals and family offices through sophisticated scams that involve elaborate presentations, fake companies and websites, and fraudulent documents that appear credible.
We've documented three cases that describe the highly sophisticated, complex structures and cunningly designed processes which ultimately lead to straightforward investment fraud. This has
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