Monthly Archives: May 2020
Distressed credit could exert a gravitational pull as US managers launch opportunistic vehicles
(Hedgeweek) The hedge fund industry recorded USD33 billion of redemptions in Q1 according to HFR, making it the highest figure since the second quarter of 2009, as investors de-risked their portfolios. But this redemption figure could arguably be even higher […]
COVID-19 negatively impacts private capital fundraising but there are also some bright spots
(Opalesque) COVID-19 is disrupting private capital fundraising as more than half of GPs surveyed by Preqin says that fundraising activity has slowed down. Well over two-thirds (69%) of GPs Preqin surveyed say that fundraising from potential investors has been negatively […]
April employment report is expected to show more than 20 million lost jobs and depth of pain as US economy shut down
(CNBC) April’s jobs report will be horrific, and with the worst job losses ever, it should provide a critical look into the depths of the crater the economy has fallen into. Economists expect a record 21.5 million jobs were lost […]
The head of world’s largest asset manager warns of grim outlook
(Marketwatch) BlackRock’s Chief Executive Larry Fink forecast a dour near-term outlook for the economy as states and businesses grapple with reopening from COVID-19 lockdowns that have likely driven the U.S., and the rest of the world, into a deep recession, […]
Stock futures rise as Wall Street awaits latest jobless claims figures
(CNBC) Futures contracts tied to the major U.S. stock indexes ticked higher early Thursday, suggesting Wall Street may be set for modest gains on Thursday after the government’s next jobless claims report. Dow Jones Industrial Average futures rose 110 points, […]
Wall Street is too optimistic as global economies start reopening, Stephen Roach warns
(CNBC) Stephen Roach warns the market is misjudging the coronavirus’ impact on economyOne of the world’s leading authorities on Asia is worried Wall Street is miscalculating China’s efforts to reopen its economy. While it’s going relatively smoothly on the supply […]
Pragmatism in the face of uncertainty
(Hedgeweek) In his latest monthly blog, Joel Press, formerly a senior partner and Head of the Global Hedge Fund Practice at Ernst & Young, and a leading voice on hedge fund operations and co-ordination services, looks at how social distancing […]
Morgan Stanley announces $110m fund focused on climate solutions
(Opalesque) Morgan Stanley Investment Management (MSIM)’s private markets arm, Alternative Investment Partners Private Markets, has closed a new fund at $110m focused on addressing critical climate issues. The fund, which seeks to address critical climate issues including global warming and […]
China ups the ante to acquire or invest in distressed foreign assets amid COVID-19
(Opalesque) While US President Donald Trump stands by China lab origin theory for the virus, Chinese companies have upped the ante to acquire or invest in distressed foreign assets in strategic locations. Against this backdrop, governments across several nations are […]
This is the jobs number that will show how fast the labor market can heal
(CNBC)Private sector payroll data shows more than 20 million jobs were lost in April, and Friday’s government report is expected to be a million more, but the most important numbers will show up in Thursday’s report on how many Americans […]
SEC Charges Husband and Wife in Insider Trading Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged husband and wife Zhuobin (“Ben”) Hong and Caixia Jiang in a multi-million dollar insider trading scheme involving the securities of Sagent Pharmaceuticals, Inc. According to the SEC’s complaint, filed in federal district […]
Citadel Waiving Redemption Fees for Fund Clients Seeking Cash
(Bloomberg) Ken Griffin’s Citadel will allow investors to pull a total of $1 billion from its main hedge funds without incurring fees or penalties, a sign that clients are grappling with the economic fallout from the coronavirus pandemic. To read […]
