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☆ Constitution Capital Banks $1.1 Billion to Back Midmarket Funds, Co-Investments
▼ + stars: | 2023-06-09 | by ( Laura Kreutzer | ) www.wsj.com time to read: 1 min

Constitution Capital Partners has raised around $1.1 billion across two midmarket investment strategies, one that backs private-equity funds and the other that invests in companies alongside other fund managers, people familiar with the matter said. The Andover, Mass., firm continues to seek some $300 million for a third vehicle, Ironsides Opportunities Fund II, which is focused on opportunistic credit deals, the people said. The strategy targets corporate debt as well as equity instruments, including senior and other loans,...

Organizations: Capital Partners Locations: Andover, Mass

☆ 3 reasons why regional US banks are in good shape after several failures, and why the stocks could be real bargains, according to a 30-year analyst and portfolio manager who's betting on 5 now
▼ + stars: | 2023-05-17 | by ( Marley Jay | ) www.businessinsider.com time to read: +2 min

Susan Curry is a former analyst and a portfolio manager covering financial firms for Manulife. Bank stocks have been crushed as investors saw several US financial firms fail. Curry says that most banks are in solid financial condition and their stocks look attractive. A 30-year Wall Street veteran, Curry is a former analyst who runs the firm's Capital Appreciation team, is the lead portfolio manager of its Financial Industries strategy, and a portfolio manager of the Bank Opportunities strategy. The leading regional bank positions in the Bank Opportunities Fund that Curry co-manages were M&T Bank, Regions Financial, Citizens Financial, US Bancorp, and KeyCorp.

☆ Asia is aging rapidly. Strategists reveal stocks to cash in — including tech
▼ + stars: | 2023-04-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

He recommended the Global X Aging Population ETF , which includes not just health-care companies and pharmaceutical firms, but also wearables and medical device companies such as Cochlear, GN Store Nord and Teleflex. China's 'very promising bets' Investors can look to focus on China's aging population by market reach or income segment, according to Leverage Shares' Rao. As for investors looking to get exposure to China's wealthier income segment, he named Raffles Medical, Asian Healthcare Specialists and IHH Healthcare — stocks that will also give similar exposure in other Asian countries. Dividend payers and financial services High-dividend-paying stocks as well as financial services are set to benefit from the aging population, according to analysts. Another potential beneficiary of aging populations is financial services, according to Rob Clarry, investment strategist at wealth manager Evelyn Partners.

☆ James Davolos' stock fund has been one of the world's best for two decades. He told us how he has consistently beaten the market, and why he's comfortable betting half his money on a single company.
▼ + stars: | 2023-03-24 | by ( Marley Jay | ) www.businessinsider.com time to read: +6 min

Co-manager James Davolos told Insider about the fund's approach to identifying market mistakes. Half the fund's money is in one stock, and Davolos explained why he's not hurrying to change that. Davolos and his team then investigate those areas and try to identify any mistakes the market has made about the quality of an investment. "Nobody at the firm follows a sector per se, or a geography, or a capitalization," Davolos told Insider in a recent interview. Texas Pacific doesn't have to pay for equipment or fund that work; it simply makes money from the drillers.

LONDON, March 20 (Reuters) - Lawyers from Switzerland, the United States and UK are talking to a number of Credit Suisse (CSGN.S) Additional Tier 1 (AT1) bond holders about possible legal action after the state-backed rescue of Credit Suisse by UBS (UBSG.S) wiped out AT1 bonds, law firm Quinn Emanuel Urquhart & Sullivan said on Monday. Quinn Emanuel said it was in discussions with Credit Suisse AT1 bondholders representing a "significant percentage" of the total notional value the instruments. PIMCO had 3.49% of its 5.66 billion euro ($6.06 billion) GIS Capital Securities Fund in Credit Suisse AT1 bonds, the Morningstar data showed. Lazard Asset Management had 7.4% of its 1.45 billion euro Lazard Capital Fi SRI fund allocated to Credit Suisse AT1 debt. GAM's 1.15 billion euro Star Credit Opportunities fund's exposure to Credit Suisse AT1 debt was 4.81% at the end of last month, based on the Morningstar data.

The SFDR defines sustainable investment as contributing to "an environmental or social objective", assessed by indicators such as use of raw materials or production of waste. The people Reuters spoke to said discrepancies among fund portfolios reflected a lack of clarity from the Commission over what constitutes a sustainable investment. Reuters GraphicsReuters GraphicsTEMPERATURE GAUGEMSCI, the finance industry data provider, has developed a way of checking on investment funds' green credentials with its ESG Implied Temperature Rise tool. Among them, for example, are BlackRock's Sustainable Energy Fund, Nordea's Global Climate and Environment Fund and Pictet's Global Environmental Opportunities Fund. "The characterisation of what constitutes a sustainable investment under the SFDR is also a concept that needs further clarifications at European level."

☆ Exclusive: Blackstone set to raise as much as $10 billion for tactical opportunities
▼ + stars: | 2023-02-23 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 23 (Reuters) - Blackstone Inc (BX.N), the world's largest private equity firm, is set to raise as much as $10 billion for its tactical opportunities strategy, which gives it versatility to invest in a range of assets, people familiar with the matter told Reuters. Blackstone has amassed about $5 billion for the Blackstone Tactical Opportunities Fund IV, which was initially aiming to raise only $4 billion, Reuters previously reported. Blackstone has raised three previous tactical opportunities funds that cumulatively collected about $16.4 billion from investors since the first of them was first launched in 2012. The $6.7 billion Blackstone Tactical Opportunities Fund II and the Tactical Opportunities Fund III, which raised $4.09 billion, had generated a net internal rate of return of 14.1% and 11.7%, respectively, as of June last year, according to the California Public Employees' Retirement System. Blackstone's tactical opportunities division has about $34 billion in assets under management.

☆ Blackstone's Ike leaves to start new investment firm
▼ + stars: | 2023-02-22 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 22 (Reuters) - Melvin Ike, a managing director in Blackstone Inc's (BX.N) tactical opportunities group, has resigned to start his own investment firm, the private equity firm told Reuters. Ike's resignation was announced during a meeting of Blackstone's tactical opportunities fund investors held last week in New York, the firm said in a statement on Tuesday. Ike's transactions for Blackstone's tactical opportunities unit include the sale of a majority stake in Wisconsin-based home improvement lender Aqua Finance for $1 billion to Apollo Global Management (APO.N) in 2021. He also led Blackstone's acquisition of a majority stake in collectibles authentication firm Certified Collectibles Group as well as the minority investments in digital marketing firm Recurrent Ventures and Cybersecurity firm Geocomply. Blackstone's tactical opportunities unit, which is run by David Blitzer, invests in assets that typically fall outside the scope of the firm's other funds, from timber and mines to oil tankers and satellites.

☆ Global investors losing appetite for Chinese government bonds
▼ + stars: | 2023-02-10 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Signs of a peak in developed market rates are another reason why China's bonds, yielding roughly 3% on 10-year investments, are less appealing, given the potential greater capital gains elsewhere. "If investors are saying that I want to trade the China recovery, the answer is not Chinese government bonds (CGBs). "China bonds served as a very good type of diversifier, in particular over the past 3 years," said Pang. But as global rates hit a peak, it made sense to plough limited cash into better yielding markets, he said. ($1 = 6.7969 Chinese yuan renminbi)Reporting by Summer Zhen Additional reporting by Rae Wee in Singapore Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ A top fund that returned over 19% last year is betting global bond markets are about to get blindsided again
▼ + stars: | 2023-01-31 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

A fund that bet correctly last year on surprise reversals in British and Japanese bonds has a new contrarian stance. BlueBay Asset Management believes bond markets have underestimated hawkishness from global central banks. The fund has a new contrarian bet as BlueBay believes bond markets have underestimated hawkishness from global central banks. More monetary tightening is also anticipated from the Bank of England and European Central Bank on Thursday. So far, central bank officials have committed themselves to remaining data-dependent to inform future rate hikes.

☆ Favorite income ideas of top performing funds cluster around similar stocks
▼ + stars: | 2023-01-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

CNBC Pro found four income funds that have performed well over the past three years, which could be opportunities for investors searching for reliable income as the year progresses: The BNY Mellon Income Stock Fund , Neuberger Berman Dividend Growth Fund , Invesco Value Opportunities Fund and Invesco Comstock Fund . Here are the funds: Three stocks stand out as being among the most heavily weighted across three of the funds: JPMorgan , Goldman Sachs and Caterpillar . Financial services names make up a large part of both the BNY Mellon and Invesco Comstock funds, with roughly 30% and 22% of the funds' investments in the sector. Both of them, as well as the Neuberger fund, include JPMorgan, which is the single biggest weighting in the BNY Mellon fund. Goldman Sachs is another favorite financial stocks, being heavily weighted in the BNY Mellon and both Invesco funds.

☆ The top-performing stock-picker of 2022 shares 6 of his favorite companies to buy now to protect against high inflation, low profits, and an energy shortage that will last for years to come
▼ + stars: | 2023-01-22 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Here are six energy companies that Davolos believes are strong long-term investments. Expect high inflation to hurt earnings in 2023 and beyondOf all the trends Davolos spotted, one stands out most: inflation will be higher for longer. Most investors assumed that the high inflation of the 1970s and '80s was gone forever after the internet and other technology kept prices down during the previous two decades. Stocks broadly will likely suffer if inflation stays stubbornly high, Davolos said, given that higher prices weigh on firms' profit margins. Energy royalty companies' efficient, asset-light business model gives them lofty operating margins that are the envy of their peers.

Just weeks before crypto lender Genesis filed for bankruptcy, three former employees of the company had secured millions of dollars for a new crypto hedge fund, according to correspondence viewed by CNBC. Gemini, a crypto exchange and major Genesis client, accused Ballensweig of falsely reassuring Gemini in July that Genesis was financially stable. The ex-Genesis employees teamed up with Adam Guren from hedge fund Hunting Hill, Ballensweig said. Hunting Hill is a $718 million hedge fund, which launched in 2010 and moved into digital asset investing in 2020 with a crypto opportunities fund. Neither Hunting Hill nor Bessemer immediately responded to a request for comment.

☆ This top-performing manager boasts mutual funds that are up 40% this year. Here's how he crushes the market
▼ + stars: | 2022-12-16 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Horizon Kinetics stood out in a brutal year for stocks — boasting several mutual funds that have returned more than 40%. On the list of best-performing equity mutual funds of 2022, four out of five are from this under-the-radar, New York City-based shop, according to Morningstar. Royalty companies Kinetics focuses on hard assets, but that doesn't mean each candidate appears in a Kinetics' portfolio. The Paradigm fund's biggest position is in Texas Pacific Land , one of the largest owners of land in Texas. The company, which Kinetics has owned since 1995, has exposure to two types of hard assets — land as well as oil and gas royalties.

☆ Mubadala, KKR to invest about $1 bln in Asia
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

Oct 24 (Reuters) - KKR & Co (KKR.N) and Abu Dhabi state fund Mubadala Investment Co (MUDEV.UL) said they had entered into an agreement to invest about $1 billion in Asia. The agreement, announced on Sunday, will see the two firms investing across performing private credit opportunities in the Asia Pacific region. Mubadala, which manages $243 billion in assets, said in a joint statement it would deploy its capital alongside KKR’s existing pools of capital, including capital from the KKR Asia Credit Opportunities Fund, a $1.1 billion credit investment vehicle KKR closed in May. In APAC, KKR has deployed nearly $3 billion in credit capital since 2019. The credit business in the region is part of KKR’s about $178 billion global credit platform.

☆ CNBC Pro Talks: Asset manager Neil Veitch on his top picks and stocks to avoid amid volatility
▼ + stars: | 2022-09-22 | by ( ) www.cnbc.com time to read: +1 min

Investment director Neil Veitch of SVM Asset Management revealed on Pro Talks how he's trading as central banks around the world aggressively hike interest rates. Speaking to CNBC's Karen Tso Thursday, Veitch said he'd stay away from "expensive" stocks until inflation fell under 4%. That's when he thinks the U.S. Federal Reserve might pivot and loosen financial conditions in the market. "But I do have a strong preference for U.S. tech versus European technology," he admitted, and revealed his favorite among the FAANG stocks. Elsewhere in tech, Veitch was bearish on Tesla, saying the "risk-reward is unattractive" at current levels.

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