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August 14, 2018

Nationwide Exploring 'New Ventures To Compete In The Future' | Christopher Graham, Chief Investment Officer | Q&A

Christopher Graham is the chief investment officer at Nationwide Insurance, where he oversees the $67 billion mutual fund complex. In this interview, he discusses why his goal is to get the best institutional asset managers interested in the '40 Act space; why insurance firms should be thought of early on when deploying assets; and how Nationwide is exploring venture capital and technology investments through its new platform.
Read by 52% of LPs 6 hours, 2 minutes ago

Rising Interest Rates Impact Sovereign Wealth Strategies | Swfi - Sovereign Wealth Fund Institute

Sovereign wealth funds are paying closer attention to the U.S. Federal Reserve as it enters fresh territory under Jay Powell. Powell's decisions are impacting foreign exchange holdings globally, as central bankers adjust to a newer environment of policy normalization. The United States is not the only country raising interest rates. The Philippines, Argentina, Indonesia, India, [...]
Read by 42% of LPs 8 hours, 2 minutes ago

Sec Is Formally Investigating Musk's Tweet About Taking Tesla Private

The tweet may have become a meme, but the U.S. Securities and Exchange Commission isn't laughing at Elon Musk's tweet about taking Tesla private. The electric car company CEO blurted out on Twitter last week that he plans to buy back Tesla from shareholders. He said he had "funding secured." Now the feds are worried about market manipulation and other violations from that seemingly innocuous tweet. SEE ALSO: Elon Musk is serious about taking Tesla private The company followed up with a lengthy blog post from Musk about what it would take to make Tesla private instead of publicly traded.
Read by 30% of LPs 8 hours, 27 minutes ago

Colombia's Ecopetrol Cuts Planned 2018 Spending To $3-3.5b | Rigzone

Ecopetrol says it will invest $3 billion to $3.5 billion during 2018.: BOGOTA, Aug 15 (Reuters) - Colombia's state-run oil company Ecopetrol said on Wednesday it will invest $3 billion to $3.5 billion during 2018, less than previously estimated, because of spending delays and protests which closed three fields during the first quarter. Ecopetrol originally planned to invest $3.5 billion to $4 billion this year, mostly in exploration and production. The company spent $1 billion during the first half, it said in an earnings report on Tuesday.
Read by 67% of LPs 8 hours, 41 minutes ago

What Sygnia's Hedge Fund Decision Means For Investors

When Sygnia's CEO Magda Wierzycka announced on Wednesday that the company is closing all of its fund-of-hedge-fund products, she was adamant that this was fully in the best interests of investors. "This has cost us millions in fees," she acknowledged. "We have closed down very profitable products." Wierzycka said that Sygnia made a decision that it could not continue paying the high fees charged by hedge fund managers when their performance did not appear to warrant it. What this means is that all investors who have been in these funds have to move to other products.
Read by 80% of LPs 8 hours, 42 minutes ago

Hedge Funds Pile Into Camping World And Other Rv Stocks

Hedge fund moguls may be more likely to own a jet than a motorhome but that isn't stopping them from piling into recreational vehicle stocks. Camping World Holdings Inc. was one of the biggest beneficiaries of this trend in the second quarter with new stakes from funds including Dan Loeb's Third Point and David Rosen's Rubric Capital. Third Point bought a 7.6 percent stake valued at $70.6 million as of June 30, according to a filing Friday. Rubric disclosed a new 7.3 percent stake in a filing Tuesday.
Read by 58% of LPs 9 hours, 2 minutes ago

Alpinvest Becomes First Outside Investor In Ex-clinton Adviser's Firm | Mercury Capital

AlpInvest Partners led a $260 million capital infusion in Stagwell Group, the investment firm launched by ex-Bill Clinton adviser Mark...
Read by 78% of LPs 9 hours, 2 minutes ago

Tesla Directors Do Damage Control After Elon Musk Tweets

Members of Tesla's board are scrambling to control a chief executive who some directors think is out of control. Elon Musk, the Palo Alto company's co-founder and CEO, stirred up a public storm by announcing on Twitter last week that he wanted to turn Tesla into a private company. In recent days, according to people familiar with the matter, some of his fellow board members delivered a stern message: Stop tweeting. Musk hasn't heeded that advice. He has continued to post messages on Twitter, publicly plotting the company's strategy and in some cases making assertions of dubious accuracy.
Read by 73% of LPs 9 hours, 12 minutes ago

Activist Investor Litt Boosts Stake In Mack-cali - Costar Group

101 Hudson St., where Mack-Cali lost AIG as a tenant.Jonathan Litt made his name on Wall Street, and with the financial press, as a feisty activist investor who targets real estate investment trust funds, known as REITs. Now his hedge fund has boosted its stake in Mack-Cali Realty Corp., prompting speculation about what changes it may demand at New Jersey's largest REIT and biggest office-building landlord. Litt is the founder of Land & Buildings...
Read by 47% of LPs 9 hours, 32 minutes ago

China State Fund Shouldn't Bite Into Fried Chicken, Pizza, Companies & Markets News & Top Stories - The Straits Times

August 16, 2018 5:00 AMPeteHONG KONG * Beijing's sovereign wealth fund could do without the fried chicken. : China Investment Corporation (CIC) may join a bid to take private Yum China Holdings, the US$14 billion (S$19.3 billion) operator of KFC, Pizza Hut and Taco Bell outlets in China, Bloomberg has reported. According to the report on Tuesday, CIC and DCP Capital, the investment firm run by former KKR & Co senior executives, are part of a consortium considering a buyout of New York-listed Yum China.
Read by 31% of LPs 9 hours, 32 minutes ago

Why Education May Be The Issue That Breaks Republicans' Decade-long Grip On Wisconsin | The New Yorker

Dan Kaufman writes about Tony Evers's win in the Wisconsin gubernatorial primary, and his challenge to Scott Walker in November.
Read by 44% of LPs