European Football could be an Own Goal for U.S. funds
U.S. investment firms might end up scoring quite a few goals with their European soccer teams. Few of them are likely to translate into decent profits. On Wednesday, Italy’s AC Milan officially passed from one American owner to another: Gerry Cardinale’s private-equity firm RedBird Capital Partners took over from Elliott Management, completing a purchase announced […]
Florida adopts anti-ESG rule for state’s $186B pension plan
Florida Gov. Ron DeSantis’ administration on Aug. 23 approved a resolution to bar the state’s $186bn pension fund from considering environmental, social or governance factors when making investment decisions. The state’s defined benefit pension plan has lost $20 billion since the beginning of the year, said Lamar Taylor, the fund’s interim chief investment officer and […]
ADDX launches cash management solution, in tie-up with Lion Global Investors
Dubbed “ADDX Earn”, the first two funds launched are managed by OCBC Group’s Lion Global Investors and they comprise high-quality, low-volatility liquid debt instruments SINGAPORE, 29 AUGUST 2022 – Asia’s largest private market exchange ADDX has launched a cash management tool that allows investors with excess funds in their wallets to earn interest, instead of […]
SoftBank-backed Tridge scores $2.7bn valuation in the latest investment round
Softbank-backed Tridge said it has secured funding round at a postmoney valuation of $2.7bn. The latest funding, led by South Korean private equity firm DSAsset, brings Tridge’s total financing to $111.7m since its inception in 2015. The new valuation represents about 440%, or 5.4x, increase over Tridge’s postmoney valuation of $500 million in July 2021 […]
KKR leads Digital Diagnostics $75m series B round
KKR has led a $75 million series B funding round in Digital Diagnostics, a specialist in AI healthcare diagnosis. Investors including Cedar Pine, Kinderhook, 8VC, Optum Ventures, OSF Ventures and the University of Iowa also took part in the round. The latest funding has almost doubled the company’s total outside capital raised to $130 million. […]
Rothschild’s buyout fund tests appetite for $1.5B software firm A2Mac1
Rothschild’s private equity arm is sounding out prospective bidders to launch the sale of a majority stake in French automotive software firm A2Mac1, a deal valued at up to $1.5bn. Five Arrows Principal Investments (FAPI) – which is owned by Rothschild and manages $2.85bn of capital focused on mid-market investments in Western Europe – is […]
Mubadala-Backed UAE firm sets up $10 Billion fund for tech deals
Abu Dhabi-based artificial intelligence firm G42, backed by a key member of the oil-rich emirate’s ruling family, is setting up a $10 billion fund with a focus on technology investments in emerging markets. The move comes as Abu Dhabi — a city that’s among the few globally to manage over $1 trillion in sovereign wealth […]
abrdn confirms plans to merge or close 100 funds
abrdn is merging or shuttering 100 funds in a move to save on costs, the Scottish investment house confirmed to Investment Week, as AUM at its asset management arm declined 17% in the first half of 2022. A spokesperson said: “We have now reviewed around 550 funds and concluded that 20% with an AUM of […]
Liberty Street Advisors’ Private Shares Fund surpasses $1bn in AuM
Liberty Street Advisors’ Private Shares Fund has increased assets under management to more than $1 billion. The Fund seeks capital appreciation by investing in the equity securities of private, operating, late-stage, growth companies. While traditionally, such access to private companies has only been available to institutional and high net worth investors through high minimum, complex […]
AllianceBernstein closes latest real estate debt fund on $1.3B
US investment firm AllianceBernstein has closed Commercial Real Estate Debt Fund IV with $1.3bn of capital commitments. AB launched the US commercial real estate debt platform in 2013. It currently has $9bn of AUM under active management. The team has deployed $8.6bn of capital to over 130 loans since inception. “The expansion in the cost […]
