Global venture capital funding dip in both deal value and volume in 3Q 2024… [more]Laxman Pai, Opalesque Asia: Global venture capital funding rounds decreased in both deal value and volume in the third quarter of 2024, according to a report.
According to S&P Global Market Intelligence data deal value from July to September amounted to $61.32 billion, down 7.8% from $66.54 bi
Igneo winds down $2.16bn vintage EDIF I at a 2.6x multiple… [more]Laxman Pai, Opalesque Asia: Global infrastructure investment manager Igneo Infrastructure Partners has officially wound down its inaugural European Infrastructure Fund at a value of €2bn ($2.16bn).
“The European Diversified Infrastructure Fund I (EDIF I), a 2009 vintage fund, has now rea
H.I.G. Capital closes latest fund on $2 billion… [more]Bailey McCann, Opalesque New York: H.I.G. Capital has closed H.I.G. Capital Partners VII at $2 billion. The firm said the fund was significantly oversubscribed and hit its hard cap.
The fund will make control equity investments in lower middle market companies. In a statement, the firm said t
Hedge fund industry performance deep dive – Q3 2024… [more]Hedge funds generated positive performance during Q3, up 2.4%, but underperformed both bonds and equities.
Strategies that typically have a higher beta to equities were the top performers during Q3: long biased was up 5.1% in Q3, and up 12.4% YTD, and equity long/short was up 2.9% in Q3 and up 1
Bears bemoan Tesla surge, Hedge fund Vantage Point buys dollar, Japan stocks in Trump bet… [more]Bears bemoan Tesla surge
From Institutional Investor: Investors were giddy after Tesla reported third-quarter earnings late last week. On Thursday, they bid up the stock by 22 percent; it closed at $260.48. They tacked on an additional $8.71, or 3.34 percent, on Friday, when the stock c
Hedge funds are gaining influence in market for Europe dividends… [more]From Bloomberg: Hedge funds are increasingly reshaping the multi-billion dollar market for European dividends.
Futures on Euro Stoxx 50 Index payouts have traditionally been heavily influenced by hedging flows from structured products. But shifts in issuance have allowed multi-strategy hedge fun
New Launches: Franklin Templeton gets CSSF nod for “first” fully tokenised Ucits fund on public blockchain, LGT Capital Partners raises $810m for buyout fund, Vendis Capital surpasses $486m fundraising target with hard cap expectations… [more]Franklin Templeton gets CSSF nod for “first” fully tokenised Ucits fund on public blockchain
From Funds Europe: Franklin Templeton has received regulatory approval from Luxembourg’s financial regulatory authority, Commission de Surveillance du Secteur Financier (CSSF), to launch Europe’
Institutional Investors: Illinois Teachers announces $1.7bn in hires, investments, commitments, Indiana Public Retirement discloses $296m in commitments, New Mexico PERA commits $250m to private markets, New Hampshire Retirement System posts fiscal year 8.8% net return, Tulane University endowment returns 8.8% for fiscal year, VC and a lack of tech stocks took a bite out of Princeton’s returns… [more]Illinois Teachers announces $1.7bn in hires, investments, commitments
From PIonline.com: Illinois Teachers’ Retirement System, Springfield, disclosed manager hires, investments and commitments totaling $1.7 billion.
The $74 billion pension fund’s investment staff disclosed the acti
Investing: Mega-cap tech fuels shifts in systematic investing, Uber a hedge fund fave: Q3 expects 310% increase over 2023, Alphabet may ‘spark relief rally’ as Big Tech results roll in… [more]Mega-cap tech fuels shifts in systematic investing
From Funds Europe: The impressive performance of mega-cap tech stocks has reshaped factor returns, leading systematic investors to rethink their strategies, according to Invesco’s ninth annual Global Systematic Investing Study (IGSIS).
People: Deutsche Bank’s head of metals trading left for a quant hedge fund, Zug-based asset manager Tramondo recruits two highly experienced specialists, Citi’s global family office South Asia head leaves for Goldman Sachs… [more]Deutsche Bank’s head of metals trading left for a quant hedge fund
From eFinancial Careers: 2023 was the year of hedge funds hiring for their commodities teams, and it seems like 2024 has been a continuation of the same. This year, however, has seen a focus on niche areas like metals, w
Commodity: Gold prices have surged in 2024. Here’s how to get in on the gold rush… [more]From CNN: Not all that glitters is gold, but the value of the precious metal has been surging this year. Gold prices have broken record after record, rising more than 30% in 2024 while hitting an all-time high of $2,748.23 this week.
The Federal Reserve’s recent dramatic half-point interest rate
Crypto: Bitcoin traders refocus on $70,000 with cash flowing into ETFs, Sequoia to rake in more than $100m from crypto acquisition, HKEX launches digital asset index as Hong Kong, Crypto exchanges turn to derivatives to lure cautious investors… [more]Bitcoin traders refocus on $70,000 with cash flowing into ETFs
From Bloomberg: Bitcoin traders are targeting the $70,000 price level last reached in June once again after cryptocurrencies briefly dipped across the board late Friday and US exchange-traded funds continued to see steady in
M&A: Beware the tricky business of distressed M&A… [more]From FT: M&A negotiations are never easy. Dealing with distressed debt hedge funds takes the pain to another level. Numerous companies will increasingly be unable to refinance debt that they borrowed in a low rate environment.
As such, their equity values are hovering around zero. But their und
Tech: Invesco: AI in investing remains broadly aspirational… [more]From PIonline.com: Artificial intelligence remains “broadly aspirational” when integrating the technology into investment practices, and is still unable to adequately perform tasks such as portfolio construction, Georg Elsaesser, a senior portfolio manager at Invesco, told Pensions & Investments.
U.S.: Hedge fund Verition nearly doubles its footprint on Manhattan’s Park Avenue, The richest Americans have so far given more to Trump than to Harris in the 2024 presidential election campaign… [more]Hedge fund Verition nearly doubles its footprint on Manhattan’s Park Avenue
From Biz Journals: Verition Group is nearly doubling its office space in Midtown Manhattan. The Greenwich, Connecticut-based hedge fund manager is increasing its New York City office space to more than 72,500 s
Europe: Denmark ramps up Asia, EM climate investment push… [more]From Asian Investor: The Danish government and development fund are redoubling efforts to mobilise private capital for several environmental initiatives, with Asia a key focus. A state official told AsianInvestor about their progress.
Denmark’s government and development fund are making progress
MENA: General Atlantic opens Saudi office to scout Mideast deals… [more]From Bloomberg: General Atlantic, best known for early stage investments in tech companies such as Facebook and Uber Technologies Inc., is opening its first office in the Middle East as it looks to scout for more deals in the region.
The Saudi Arabia office will be lead by Ziyad Baeshen, General
Asia: Singapore’s quiet rise in the global ‘deep tech’ race, Opportunities in APAC: Diverse and dynamic… [more]Singapore’s quiet rise in the global ‘deep tech’ race
From Nikkei: Under a clear blue sky on Oct. 1, a city in China’s northeastern municipality of Tianjin launched its first driverless public bus service. Spanning 20 kilometers, the daily network connects 10 stops across residential ar
Opinion: Robyn Grew, the first woman and openly gay CEO of Man Group, says its diversity is an advantage… [more]From Inc.com: Almost all articles and commentaries about Robyn Grew-including this one-note that she is the first woman and openly gay executive to ascend to the CEO role at Man Group, the largest publicly traded hedge fund company.
Grew, who took the reins in September 2023, embraces her trai
ESG: Green bonds drive GSS bond issuance past $5tn, COP16: Nature Action 100 releases inaugural corporate assessments, Greenwashing under pressure as regulators turn to passive ESG funds, Robeco bets on sustainable ideas with total return fund merger… [more]Green bonds drive GSS bond issuance past $5tn
From Funds Europe: The cumulative issuance of Green, Social, and Sustainability (GSS) bonds has now topped $5 trillion, according to the latest GSS Bonds Market Trends Report from ESG data provider MainStreet Partners.
This surge in GSS bon
Legal: Convicted Ozy Media founder argues US judge conflicted due to hedge fund investments, Wise CEO Kaarmann fined $453,735 by FCA over tax issues… [more]Convicted Ozy Media founder argues US judge conflicted due to hedge fund investments
From Reuters: Ozy Media and its founder Carlos Watson want a federal judge to step aside from their case and throw out their securities fraud convictions, saying the judge had a financial stake in four
Regulatory: FATF adds four jurisdiction to its grey list… [more]From International Adviser: The Financial Action Task Force (FATF) has added Algeria, Angola, Cote d’Ivoire and Lebanon to the list of jurisdictions subject to increased monitoring, in its first plenary under the Presidency of Elisa de Anda Madrazo of Mexico.
The concluding statement on 25 Octob
Activists: Elliott hunts bigger prey, testing limits in barrage of activism… [more]From Bloomberg: John Pike got the message on a brisk Wednesday morning in mid-October. Southwest Airlines was ready to negotiate its surrender.
The budget carrier blinked rather than face a proxy fight with Pike’s employer, Elliott Investment Management, the $70 billion activist hedge fund that
And, finally: Extra Toppings Gone Wrong… [more]From AP: Nope, that wasn’t Parmesan cheese to sprinkle on your pizza. Police in Dusseldorf, Germany, uncovered a drug ring after busting a pizzeria manager who was selling a popular “No. 40” pie, which was delivered with a side of cocaine, the Associated Press reported on Oct. 22.
As officers b