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☆ Why $3 billion Crestline Summit believes it's different from the 'indentured servitude model' of its multimanager rivals
▼ + stars: | 2024-10-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +6 min

For others, such as the $3 billion hedge-fund platform Crestline Summit, it is a part of their expansion plans. One such manager is former Citadel PM Josh White, who started trading at his London-based Regents Gate earlier this year with capital from Crestline. Advertisement"Some of our competitors are kind of an indentured servitude model," said Scott Nelson, who runs the client partnership group. The brand the firm is trying to push externally is that they are "capital partners, not capital providers," Nelson said. AdvertisementA person familiar with the manager's flagship strategy said Crestline was up nearly 12% in 2023, besting funds such as Point72 and Millennium.

Persons: —, Caroline Cooley, Crestline, we're, ExodusPoint, Michael Gelband, Neilson Arbour, multimanagers, Arbour, Cooley, Josh White, Scott Nelson, Nelson Organizations: Service, of, Crestline Summit, Texas, Citadel Locations: Texas, The Texas, of Texas, New York, London, Crestline

☆ Where are China's ultra-rich parking their wealth amid a slowing economy?
▼ + stars: | 2024-07-30 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +5 min

At a time when China's economy is facing headwinds, and growth has been slowing, where are the Chinese ultra-rich, whose numbers are expected to swell to 144,897 by 2028 from 98,551 in 2023, parking their wealth? However, the country's high-end property market remains a favored asset. Luxury real estate"There has been a noticeable increase in transactions within Shanghai's luxury real estate sector," said James Macdonald, head of China research at global real estate firm Savills, attributing it to a recent policy easing by the government. That said, China's luxury real estate market is still primarily concentrated in the core areas of first-tier cities, said Li. Other local investment classes, such as the wider property market and China-listed stocks are not as popular among the ultra rich, experts told CNBC.

Persons: Weiquan Lin, Frank, James Macdonald, Savills, Stephen Pau, Sam Xie, CBRE's, Xie, Arbour, Tian Di, Knight Frank Head of, Pacific Research Christine Li, Li, Nick Xiao, Xiao, Yongyuan Dai, Pau, defensiveness Organizations: CNBC, Pacific Research, Overseas, Domestic Institutional Investors, Domestic Limited, Hywin Locations: China, Shanghai, Lujiazui, Knight Frank Head of Asia, Pacific, Hong Kong, Yongyuan, Pau

☆ Commercial real estate services firm restructures debt after default as industry's problems widen
▼ + stars: | 2024-02-26 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +6 min

The announcement came after S&P Global Ratings lowered Avison's credit on Friday and reported that the company had defaulted on the loan. Weeks earlier, S&P had downgraded the credit rating of Cushman & Wakefield, another major services firm. Higher interest rates have dislocated property values and stifled sales transactions, cutting off a major revenue stream for these firms. Leasing activity across major property types, meanwhile, including office, remains diminished. A push into US real estateAvison sought to rapidly grow in the US over the past decade, including in major commercial real estate markets such as New York City.

Persons: Avison Young, Weeks, Cushman, –, Mark Rose, Avison, Rose, CDPQ, Arbour, MSCI, doesn't, that's Organizations: Cushman & Wakefield, Business, Leasing, Caisse, Federal Reserve Locations: Toronto, Avison, Lane, Stamford , Connecticut, New York City

[1/3] Sales representatives stand outside their kiosks inside a luxury residential project by Indian property developer DLF in Gurugram, India, February 28, 2023. Many people want to upgrade their homes after the COVID-19 pandemic confined them indoors, industry executives say. "I haven't seen such a mad rush in a decade," said Prashant Thakur, head of research at real estate consultant Anarock. Mercedes sold a record number of high-end cars in India last year and luxury goods are in high demand too. So far, around 160 people were invited for a viewing and 17 of 46 flats sold in the eight-storey project.

Canada's military has been under pressure in the face of multiple allegations of sexual misconduct in recent years, including some against high-ranking officers. Previous promises of reform have fallen flat but "this time is different," Defence Minister Anita Anand told reporters. Her report said she expects the Department of National Defence and the Canadian Armed Forces to remove themselves from investigating and prosecuting sexual offences. She gave no time frame but her report said the military "must address potential issues" including cases taking place outside Canada. In the past year the military has referred 57 sexual offence cases to civilian police, military officials told a briefing Monday.

☆ Ankylosaurs used their sledgehammer tails to fight each other
▼ + stars: | 2022-12-09 | by ( Ashley Strickland | ) edition.cnn.com time to read: +4 min

Scientists also believe ankylosaurs could have used their weapon-like tails to assert social dominance, establish their territory or even while battling for mates. Royal Ontario MuseumThese tails measured up to 10 feet (3 meters) long, with rows of sharp spikes along the sides. The tail’s tip was fortified with bony structures, creating a club that could swing with the force of a sledgehammer. Instead, the pattern looks like the result of receiving a forceful slam from another ankylosaur’s tail club. The Zuul fossil is currently kept in the Royal Ontario Museum’s vertebrate fossil collection.

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