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A group of prominent US firms, including Blackstone, KKR, and Apollo, has settled with the SEC, admitting to breaches of documentation rules and incurring fines exceeding $63 million. The violations involved unauthorized communication methods, raising concerns about market transparency. Additionally, Robinhood faces a $45 million fine for failing to report suspicious transactions and inadequate customer protections.
Scott Bessent, nominated by President-elect Donald Trump as Treasury Secretary, disclosed a stake of up to $500,000 in Bitcoin ETFs, specifically BlackRock’s iShares Bitcoin Trust ETF. Following his Senate confirmation, he plans to resign from Key Square Group and divest his investments, although there are conflicting reports about whether he will liquidate his Bitcoin holdings. Bessent's total disclosed assets are estimated at around $521 million, including various investments and properties.
Hg has partnered with UBS to enhance the distribution of its semi-liquid strategy, raising €750 million. The UK-based firm, in collaboration with technology platform S64, launched Hg Fusion, allowing clients in Europe and Asia access to its funds and co-investments. Initially, Hg secured around €500 million from a network of entrepreneurs seeking streamlined access to private equity investments.
Alts managers are increasingly seeking local partners after securing UBS for evergreen fund distribution, which was once dominated by global banks. Veronique Fournier from Apollo Global Management noted that demand for private markets, especially evergreen funds, has shifted significantly in recent years.
Workday has established a new buy point at 294 after a yearlong decline, coinciding with its integration of artificial intelligence across its platform. The company, which serves over 10,500 organizations globally, including 60% of the Fortune 500, recently introduced enhancements to its AI-powered employee feedback tool, Illuminate. With a strong 98 Composite Rating and significant fund interest, Workday's stock is positioned for potential growth as it resets its base count.
Dow Jones futures, along with S&P 500 and Nasdaq 100 futures, dipped ahead of Tuesday's market open, influenced by Oracle's over 6% drop after missing earnings estimates. AppLovin fell nearly 15% after not being added to the S&P 500, while Cava and MicroStrategy also saw significant declines. Key inflation reports are anticipated this week, alongside earnings from Adobe and Costco.
Mara Holdings faced a decline but found support at its 21-day line, while Hut 8 dropped after reaching a high not seen since April 2022. In contrast, China stocks surged on government fiscal policy news, with Alibaba and Trip.com hitting new highs. Interpublic Group soared on an acquisition announcement, while Agios Pharmaceuticals plummeted due to adverse treatment effects.
The DAX index has surpassed the 20,000-point mark for the first time, despite ongoing economic challenges in Germany. Meanwhile, consumer prices fell slightly in November, and the Eurozone unemployment rate remains at a record low of 6.3%. In Switzerland, the unemployment rate rose slightly to 2.6% due to seasonal factors.
Two ETFs targeting private credit have launched, marking a significant step in opening the $30 trillion sector to a broader range of investors. BondBloxx's fund focuses on middle-market collateralized loan obligations, while Virtus targets AAA-rated private credit CLOs. Despite growing interest, challenges remain regarding asset valuation and liquidity in this untested market.
Apollo Global Management Inc. identifies a $50 trillion investment opportunity in the energy transition, signaling an impending "industrial renaissance." Leslie Mapondera, co-head of European credit, highlighted that Europe alone is expected to allocate approximately $1.8 trillion from 2025 to 2030.
Apollo Global Management, Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
financial firms settle with sec over documentation breaches and misconduct
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11:36 14.01.2025
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08:01 13.01.2025
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16:31 09.12.2024
Global Economic Update: DAX Surpasses 20000 Bitcoin Hits 100000
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12:48 05.12.2024
Private Credit ETFs Launch to Broaden Access for Investors Beyond Institutions
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23:27 03.12.2024
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