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Larry Fink is investing approximately $25 billion to position BlackRock as a leading player in infrastructure and private credit. To retain its new talent, the firm has allocated $1.33 billion for retention packages, averaging about $1 million per new employee, while allowing them to keep a significant portion of the carried interest from existing strategies.
South Africa's rugby governing body, SA Rugby, warned lawmakers of a potential collapse without a revenue boost. President Mark Alexander emphasized the organization's break-even status and the necessity of a deal with Ackerley Sports Group to loosen control over its commercial rights.
Kotak Mahindra Asset Management Company plans to launch its first credit Alternative Investment Fund (AIF) between January and March 2025. Deepak Agrawal, CIO of fixed income at Kotak Mahindra AMC, noted that improved corporate financial health has created attractive opportunities in the credit and structured finance space, making it a compelling option for debt investors seeking optimal post-tax returns.
BlackRock has acquired HPS Investment Partners for approximately $12 billion, enhancing its position in the private credit market. This deal is expected to boost BlackRock's assets under management in private markets by 40% and management fees by 35%. HPS's founders will lead a new business unit focused on private financing solutions, as BlackRock aims to integrate public and private market offerings.
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.
Nat Benjamin from the Bank of England discusses the latest financial stability report, emphasizing the importance of preparing for potential market shocks during peacetime. He highlights that scenarios presented indicate risks greater than previously encountered, particularly for hedge funds, asset managers, and pension providers.
Art Cashin, the director of floor operations at UBS and a prominent figure on Wall Street for over 60 years, has passed away at the age of 83. His contributions to the financial industry and his long-standing presence at the New York Stock Exchange will be remembered.
Jane Street Group LLC reported a remarkable $14.2 billion in net trading revenue for the first nine months of 2024, surpassing its previous annual record. The third quarter alone generated $5.8 billion, more than double the amount from the same period last year, contributing to a total that exceeds the $10.6 billion earned in all of 2023.
Commodity trading advisors (CTAs) faced significant losses in October, with the Tulip Trend Fund down 8.7% for the month and 7.1% year-to-date, primarily due to adverse currency and interest rate trends. The DUNN World Monetary & Agriculture Program reported an 8.92% loss, while the Quantedge Global Fund fell over 11% but remains up 17.88% for the year. Despite a challenging month, the Mulvaney Capital Global Diversified Program leads with a 51.51% annual gain, despite a 12.25% drop in October driven by currency bets.
Ken Griffin’s Citadel is set to stand out in a challenging year for commodities trading, achieving approximately $4 billion in profits, primarily from natural gas trading. This performance positions Citadel to match last year's impressive results, reinforcing its status as a leading player in the asset class.
Hedge Funds & Private Equity
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BlackRock Allocates 1.3 Billion for Retention of New Talent
14:03 04.12.2024
South African Rugby Faces Collapse Without Equity Deal for Revenue Boost
14:03 04.12.2024
Kotak AMC Plans Launch of First Credit AIF in Early 2025
13:29 04.12.2024
blackrock acquires hps investment partners for 12 billion dollars
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HPS Investment Partners LLC
BlackRock, Inc.
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Michael Patterson
Scot French
Scott Kapnick
Larry Fink
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13:06 04.12.2024
Private Credit ETFs Launch to Broaden Access for Investors Beyond Institutions
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23:27 03.12.2024
uk financial stability report highlights risks for hedge funds and pension providers
06:00 03.12.2024
art cashin wall street veteran and nyse director dies at 83
23:37 02.12.2024
jane street reports record 14.2 billion in trading revenue for 2024
23:14 02.12.2024
CTAs Face Significant Losses Amid Rising Equities in October
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Man AHL Diversified (Guernsey) USDTrnhA
Mulvaney Capital Global Diversified Program
DUNN World Monetary & Agriculture Institutional Program
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DUNN World Monetary & Agriculture Program
TULIP Trend UCITS C USD Acc
Quantedge Global Fund
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21:34 02.12.2024
citadel achieves four billion in profits amid commodities market challenges
18:55 02.12.2024
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