(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Blackstone Group Inc. chief executive officer Steve Schwarzman said Donald Trump was seeking to defend his economic record in Davos as the U.S. president faces the start of his impeachment trial."Here's somebody who is having the impeachment process start with a trial today," Schwarzman said in an interview with Bloomberg Television on Tuesday at the Swiss resort. "This was a speech to basically say 'I think we need some perspective and let's look at what's happened under this administration.
The U.S. Securities and Exchange Commission (SEC) earlier initiated a probe due to the accounting of the TCA Global Credit Master Fund, a fund managed by Florida-based TCA Fund Management Group Corporation. The fund manager is closing its main credit hedge fund after the SEC probed its accounting. According to a customer letter by TCA, [...]
Eight years ago, Two Sigma Investments began an experiment in early-stage investing. The hedge fund, focused on data-driven quantitative investing, was well on its way to amassing the $60 billion in assets under management that it currently holds, but wanted more exposure to early-stage technology companies, so it created a venture capital arm, Two Sigma [...]
Opportunity to invest in the leading Urban Logistic warehousing company in Russia, focused on servicing the e-commerce, last-mile industry. MOSCOW, Jan. 22, 2020 /CNW/ -- Michael Lange, Jean Francois Ott and Michel Pascalis, who respectively previously founded JLL Russia, Orco Property Group and MLP (Multinational Logistic Partnership), have teamed up to create L.O.P. Urban Logistic, a Russian REIT with the objective of building ...Full story available on Benzinga.com.
With the sixth successive record year of M&A activity in the RIA space, hitting yet another new record has essentially "become the expectation," according to David DeVoe, founder of San Francisco-based investment bank and consulting firm DeVoe & Company, in the company's fourth quarter 2019 Deal Book, released Wednesday. With 132 transactions last year, a 31% increase over the 101 deals signed in 2018, mergers and acquisitions are not "more of the same," DeVoe said. 2019 deal velocity accelerated to nearly three times the historic annual increases of 10 to 15%.
Alternative data quickly went from a quirky subset used by only the most sophisticated hedge funds to a multi-billion-dollar behemoth that has investors and companies like Vista Equity Partners, Nasdaq, and Bloomberg diving in. Last year was an inflection point for the industry, which is adding new vendors every day and putting more and more pressure on long-time players. Once rock-solid business models have been upended, as hedge fund clients have grown more sophisticated and changed their preferences. As Business Insider has reported, the rapidly changing space has rocked veteran players like Thasos, 7Park Data, and Jefferies' MScience.
Rhode Island General Treasurer Seth Magaziner today announced that the State Investment Commission has voted to approve his proposal to pull pension fund investments in companies that manufacture assault-style weapons for civilian use or operate private for-profit prisons. "Assault weapons and...
Ascential Alternative Data Division was started by Jeremy Baksht, who used to be Bloomberg's global head of alternative data. The London-based company helps consumer companies, like clothing lines, understand everything from their brand to their customers to their price points. The new division will focus on selling the datasets already created for the firm's primary clients to hedge funds and private-equity managers, while also building up a data-science and analysis team to create new data products. "Most hedge funds and financial services clients are not trying to do a bottoms-up, fundamental prediction of revenue from alternative data.
Investment firm Capital Dynamics added another of the largest U.S. solar projects underway to its growing portfolio, announcing Wednesday the purchase of the 400-megawatt Eland project in Kern County, California from 8minute Solar Energy. The groundbreaking Eland project is due to reach full commercial operation in 2023 some 70 miles outside of Los Angeles and will feature a 300-megawatt/1,200-megawatt-hour energy storage facility, making it one of the country's largest solar-plus-storage projects announced to date. Financial terms of the deal were not disclosed.