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iCapital leverages KKR to lure investors into private equity
The rebranded PE fund targets the country's 13 million accredited households with an offer of access to KKR's investment expertise.
GPB broker-dealer shuts down amid fraud charges
Ascendant Alternative Strategies changed its official status with Finra to termination requested. Founders of GPB, David Gentile and Jeff Schneider were arrested and charged with fraud last month by the FBI.
Nick Schorsch is back — and heading up a SPAC
The former nontraded REIT czar is looking for a next act in the securities industry, and this time it's a family affair.
$1.8 billion mutual fund halts redemptions over alleged fraud
The manager of the Infinity Q liquid alt fund was fired after being accused of fudging asset values. The fund could not value its assets for purposes of calculating its net asset value.
Wells Fargo Asset Management sold to private equity for $2.1 billion
Nico Marais will stay on as CEO of the $603 billion business after the sale to GTCR and Reverence Capital Partners, while there will be fresh faces on the board.
Ariel Investments launches firm to build minority businesses
The private asset management firm, Ariel Alternatives, aims to build certified minority enterprises that can supply Fortune 500 companies.
Brokers sold GPB private placements using the worst tactics in Wall Street’s playbook
Client appreciation dinners are all well and good, but private suites at Madison Square Garden are clearly beyond the pale.
iCapital Foundation, CAIA Association launch education program
AltsEdge will provide 10 modules to help advisers understand and use alternative investments.
Bitcoin exceeds $51,000 for first time
The largest cryptocurrency rose almost 6% Wednesday, following a fivefold surge in the past year, after MicroStrategy said Tuesday it would sell $600 million of bonds to buy more Bitcoin.
Canadian Bitcoin ETF turns up heat on U.S. fund managers, regulators
Being behind Canada on Bitcoin funds could put U.S. ETF providers at a disadvantage when it comes to gaining market share.
SEC wants independent monitor to run GPB amid fraud charges
The regulator wants to install an industry veteran to run GPB to monitor its assets in auto dealerships and make sure investor interests are protected.
GameStop lawsuits allege ‘conspiracy’ bigger than Robinhood
Legal experts say the cases will have a monumental challenge overcoming motions to dismiss. The lawsuits allege online brokerages entered into an agreement and conspiracy to prevent the market from operating normally.
As markets get frothier, advisers migrate toward alternatives
Survey shows 98% of advisers plan to increase or maintain client allocations to alts in the year ahead; the strategies most likely to see an increase in allocation are real estate, private equity and private credit.
SEC, Feds charge senior GPB executives with fraud
GPB raised $1.8 billion from investors starting in 2013 through sales of private partnerships, but it has not paid investors steady returns, called distributions, since 2018.
BDC sales tank in 2020 after product performs poorly
Broker-dealers sold just $362.3 million in nontraded BDCs last year, the least since 2010, which was the year after the first product was launched, according to Robert A. Stanger & Co. Inc.
Buckle up! The GameStop saga isn’t going away
The real fun is just getting started, now that everybody and their mother knows what a short squeeze is.
Ray Dalio considers cryptocurrencies for new funds
The Bridgewater Associates founder calls Bitcoin ‘one hell of an invention.’ But he says that he finds it challenging to put a value on digital assets and that cryptocurrencies are probably vulnerable to being hacked.
It’s not just GameStop – trading frenzy spreads to many other shorted stocks
Since the GameStop stock options frenzy that quietly began early this month and exploded over the past week, some traders have followed by investing in other shorted stocks, with prices surging far past the returns seen in the indexes that include them.
Bitcoin’s worst week since March rattles faith in crypto
Prices for the digital asset have tumbled 14% this week, marking the steepest decline since March, with Bitcoin near $31,000 Friday. Commentators have cautioned that a sustained drop below $30,000 could presage further losses.
BlackRock allows crypto exposure in two funds
The fund manager added Bitcoin futures as an eligible investment for two of its funds, according to SEC filings.
