Open News

Blackstone Taps New Credit Boss in Bid for $1 Trillion Goal

- Bloomberg

Blackstone Inc. made sweeping changes atop its credit unit as the private equity giant seeks to become a bigger lending powerhouse. The firm is consolidating groups that invest in corporate credit and asset-based finance as well as a business that manages money for insurers under one chain of command. It promoted insurance chief Gilles Dellaert, 44, to lead the combined unit overseeing almost $300 billion of assets — and set a goal to grow total credit assets to $1 trillion within a decade…

D1’s Big Bets on Venture Capital Are Weighing Down Its Returns

- Bloomberg

D1 Capital Partners’s massive exposure to private bets is weighing on returns, making it one of the year’s worst-performing crossover funds. Dan Sundheim’s firm — which has 60% of its roughly $20 billion of assets invested in venture capital and private equity — gained just 3.8% this year through August after barely making money last month, according to people familiar with the matter. Those results are for a share class with as much as 35% invested in private assets…

Fortress-Backed Rail Starts Orlando-to-Miami Service Next Week

- Bloomberg

Orlando transit riders will finally get the chance to zip over to Miami or West Palm Beach on a high-speed train next week. After a delay driven by last year’s turmoil in the bond market, Fortress Investment Group-backed Brightline will kick off its service to Orlando International Airport on Sept. 22. The service will allow connections between Orlando and South Florida destinations, including Miami, Boca Raton and West Palm Beach, the not-yet-profitable rail operator announced Wednesday…

Walleye adds energy traders and staff for new Dubai office

-

Walleye Capital, a US multi-strategy hedge fund firm with $5bn in assets under management, has made several new hires as it looks to boost its energy trading capabilities and support plans for a new office Dubai, according to a report by Bloomberg. The report cites unnamed sources as confirming that the Minnesotas-based firm appointed Raj Sethi earlier this year as head of global macro and fixed income, a role that includes overseeing commodities. Sethi was previously with Cravas Capital…

Verdane Raises €1.1 Billion for Growth Equity Stake Purchases

- Bloomberg

Verdane Capital Advisors has raised €1.1 billion ($1.2 billion) for its latest fund, almost doubling the size of its previous vehicle. The Norway-based growth equity firm closed Verdane Capital XI at its hard cap, with commitments from investors including private and public pension funds, university endowments and family offices, according to a statement seen by Bloomberg News. Investors in the predecessor fund, which closed at €610 million, also participated…

Hedge Funds Are Helping Finance the Government’s Borrowing

- WSJ

Hedge funds helped scoop up 40% of the Treasury issuance in the second quarter, Fed data released Friday shows. Trading firms, comprising much of the category dubbed “households and nonprofit organizations,” increased their holdings to $2.3 trillion, nearly three times the level from a year earlier. Private equity firms and other investors are also included in that category…

Lenders Allege Edtech Startup Byju’s Hid $533 Million With Hedge Fund

- WSJ

The agent for the lenders says the Indian company’s U.S. affiliate transferred money to Florida-based Camshaft Capital Lenders to Indian education-technology company Byju’s have alleged that it covertly transferred $533 million to a Florida-based hedge fund, adding another dimension to their legal feud with one of India’s most highly valued startups…

Scroll to Top