Browsing: Equity Types of Private Equity

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Equity Types of Private Equity

Major PE/VC Firms Back New Approaches to Quantum Computing

Apr 23rd, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Technology, Artificial Intelligence, The A.I. Industry, Private Investments, Other Topics in A.I.

In October 2019, Google announced quantum supremacy: the creation of a special-purpose computer using quantum processors that could perform a calculation impossible for a digital computer. A computer Google named Sycamore resolved in just three minutes a computational challenge that would have required a digital computer 10,000 years. Remarkable asRead More


Puzzles or LEGOs? Building a Private Equity Allocation from Scratch

Apr 5th, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, CAIA Alternative Viewpoints, Private Investments

Aaron Filbeck, CAIA, CFA, CIPM, Associate Director, Content Development at CAIA Association I live in the state of Ohio, which has effectively been on lockdown since the beginning of March. Thankfully, most of my daily activities haven’t been disrupted, save for a few. However, my wife, who is always lookingRead More


Funding a Covid ‘Long Shot’

Apr 2nd, 2020 | Filed under: Newly Added, Venture capital, CAIA Alternative Viewpoints, Other Issues in Private Investments, Structured Credit Products, Private Investments, Structured Products

Every venture exists to solve a problem. Since the dawn of the Covid-19 pandemic, pharmaceutical companies and investors have been scrambling to solve what has quickly become one of the biggest problems in modern history. But as the Financial Times observed earlier this month: “For most biotechs, success will beRead More


The Future is in the Hands of Private Debt Funds

Mar 23rd, 2020 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private Investments

A new analyst report looks at what is in store for the private markets given Covid-19, an impending economic slowdown, and energy price volatility. It argues that we are entering a bear different from other bears. This bear market may be part of a transition that will increase the roleRead More


Be Direct with Me, Please!

Mar 19th, 2020 | Filed under: Private Equity, Newly Added, Institutional Investing, Venture capital, Equity Types of Private Equity, CAIA Alternative Viewpoints, High-net-worth investors, Endowments & Foundations, Family Offices, Private Investments

By Aaron Filbeck, CAIA, CFA, CIPM Associate Director, Content Development at CAIA Association Original Article: “Direct Investments” by Paul Kenny, AIAR Volume 8, Issue 3 Viewpoint Author: Aaron Filbeck, CFA, CAIA, CIPM Excerpted from the Alternative Investment Analyst Review, Volume 8, Issue 3 The Alternative Investment Analyst Review is theRead More


Diversification Strikes Back!

Mar 13th, 2020 | Filed under: Real Estate, Private Equity, Hedge Fund Strategies, Newly Added, Asset allocation, CAIA Alternative Viewpoints, Asset Allocation Models, Institutional Asset Management, Real Estate Equity Investments, Risk Management Strategies & Processes, Hedge Funds, Private Investments, Real Assets, Allocating to A.I.

By Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development at CAIA Association, and Keith Black, PhD, CFA, CAIA, FDP, Managing Director, Content Strategy at CAIA Association “Diversification is back” – now that’s not a phrase we’ve heard in a long time…long time. Considering recent market performance, we thought thatRead More


Are there any ‘real’ ESG unicorns?

Mar 10th, 2020 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, ESG, The A.I. Industry, Private Investments, Other Topics in A.I.

Unicorns (privately owned start-ups with a valuation of at least $1 billion) have long been the great sought-after beasts of the VC and PE worlds. But are they good for the planet? The unicorn boom was driven by the combination of easy credit and old-fashioned hype, combined with the wayRead More


Tech M&A Market: Demanding Sellers, Fewer Buyers

Mar 3rd, 2020 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private Investments

Corum Group, a merger and acquisitions advisor, which works with privately held technology companies, has put out its annual report, which tells us a good deal about where the action is in the tech world outside of the public markets: focusing on strategic acquirers on the one hand and privateRead More


If You Don’t Want ‘Bragging Rights’ You Can Get Alpha Done

Feb 22nd, 2020 | Filed under: Industry Size & Managers, Venture capital, The A.I. Industry, Private Investments

The quarterly investor report of VCapital Management Company looks at the opportunities for attractive returns for investors regardless of the cloudy economic conditions of 2020. It argues that alpha is to be found in the Midwest, in early-stage investing, and in two industries: healthcare/biomedical and intellectual property. Though the reportRead More


The Perils of Late-Cycle Investing

Feb 11th, 2020 | Filed under: Hedge Fund Industry Trends, Private Equity, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, Credit Derivatives, Other Issues in Private Investments, Alternative Investments in Context, The A.I. Industry, Structured Credit Products, Hedge Funds, Private Investments, Structured Products

It is widely believed that much of the world is now experiencing the late stages of a bull market. There will be a downturn because no tree grows to the sky. Forecasting the nature and severity of the coming downturn is tricky, but perhaps that is not the right question.Read More


Lessons from CAIS 2020

Feb 11th, 2020 | Filed under: Debt Types of Private Equity, Newly Added, Institutional Investing, Socially responsible investing, Equity Types of Private Equity, Artificial Intelligence, CAIA Alternative Viewpoints, Alternative Investments in Context, ESG, Economics, Climate change, Institutional Asset Management, Hedge Funds, Macroeconomics, Private Investments, Personalities in AI, SRI and Clean Energy, Allocating to A.I., Other Topics in A.I.

John Bowman, CFA, Senior Managing Director at CAIA Association “You’re a kite dancing in a hurricane, Mr. Bond.” (Mr. White to 007, Spectre) Despite the crystal blue island water, softly rolling Caribbean tide, and perfect skies outside the hotel all week, I opened my conference wrap-up panel reminding delegates forRead More


Beyond the Meat; Beyond the Traditional

Feb 6th, 2020 | Filed under: Private Equity, Newly Added, Equity Types of Private Equity, CAIA Alternative Viewpoints, ESG, Hedge Funds, Private Investments, Allocating to A.I., Other Topics in A.I.

By Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development at CAIA Association Building the Burger I love when our industry uses analogies to describe investment concepts, so I must applaud one of the introductory pieces to JPMorgan’s 2020 Global Alternatives Outlook. In their introduction to the report, the authorsRead More


Alternative Data: A Road to Alpha

Feb 2nd, 2020 | Filed under: Hedge Fund Industry Trends, Real Estate, Private Equity, Newly Added, Fintech, Technology, Artificial Intelligence, The A.I. Industry, Real Estate Equity Investments, Machine Learning, Hedge Funds, Private Investments, Allocating to A.I., Other Topics in A.I.

Investment management firms are increasingly hard-pressed to hedge away risks, increase alpha, and lower costs: a daunting agenda. One way of going about that is by knowing what is going on in the underlying markets more quickly than the competitors and counterparties do.  To that end: alternative data. Investment firms,Read More


Leery Funk’s Open Letter to Sovereign Leaders

Jan 27th, 2020 | Filed under: Consultants, Retail Investing, Private Equity, Newly Added, Institutional Investing, The Global Economy & Currencies, What about beta?, Alternative Investments in Context, Endowments & Foundations, Economics, Climate change, Institutional Asset Management, Macroeconomics, Private Investments, Finance & Economics

By Bill Kelly, CAIA Association CEO In the interest of brevity, I am going to skip the salutation and get right to the heart of the matter. As my name implies, I am Leery of the lofty promises that depend on solving our long-term problems and I do remain inRead More


Fossil Fuel: Divestment By the Numbers

Jan 16th, 2020 | Filed under: Private Equity, Social investing, Debt Types of Private Equity, Newly Added, Venture capital, Socially responsible investing, Equity Types of Private Equity, Alternative energy, Other Issues in Private Investments, The A.I. Industry, Private Investments, SRI and Clean Energy, Allocating to A.I., Finance & Economics, Other Topics in A.I.

Bill Gates, the founder of Microsoft and one of the world’s wealthiest humans, attracted a good deal of attention last fall by saying, “Divestment, to date, probably has reduced about zero tons of emissions.” He thereby put his finger on a key fault line amongst those who regard ESG investmentRead More


Hedge Fund Investors Respond to the Turning of the Business Cycle

Jan 13th, 2020 | Filed under: Hedge Fund Industry Trends, Private Equity, Hedge Fund Strategies, Investing in Commodities, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Hedge Funds, Commodities, Private Investments

It is reasonable to expect that a diversified hedge fund portfolio will make more modest returns in 2020 than it did in 2019, according to Agecroft Partners, which has done its usual January crystal-ball gazing on the new year, looking for the top industry trends and how they may playRead More


Investment Management: Time for New Leaders and Exiting Comfort Zones

Dec 10th, 2019 | Filed under: Hedge Fund Industry Trends, Consultants, Private Equity, Industry Size & Managers, Newly Added, Institutional Investing, Socially responsible investing, Equity Types of Private Equity, Other Issues in Private Investments, Business News, The A.I. Industry, Institutional Asset Management, Hedge Funds, Private Investments, SRI and Clean Energy

Disruption is the trend of the moment in many industries and the investment world is no exception. Deloitte Insights has just posted an article that takes a comprehensive look at the investment world today, traditional and alternative. Its theme is that this world is in search of new leadership andRead More


Have Venture Capital Firms Created a Unicorn Bubble?

Nov 26th, 2019 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Private Investments

A theory is making the rounds, as expressed for example in a Forbes piece last month by David Trainer, that the US economy in particular (perhaps the economy of other nation states as well) is in the throes of a “unicorn bubble,” comparable to the housing derivatives bubble of aRead More


Alternative Investments: Investing By Numbers

Nov 19th, 2019 | Filed under: Real Estate, Private Equity, Debt Types of Private Equity, Liquid and Fixed Income Real Estate, Newly Added, Fintech, Technology, Equity Types of Private Equity, Technology, The A.I. Industry, Real Estate Equity Investments, Hedge Funds, Private Investments, Real Assets, Risk Management & Operations

What’s in the future for alternative investments asset management? A new publication from Ernst & Young, London, contends that allocations to alternative investments and are “robust,” but that there is an important shift underway in favor of private equity and at the expense of hedge funds. In 2018, 40% ofRead More


Democratization Without Education

Nov 18th, 2019 | Filed under: Consultants, Retail Investing, Private Equity, Newly Added, Institutional Investing, Asset allocation, What about beta?, High-net-worth investors, Asset Allocation Models, Other Issues in Private Investments, Alternative Investments in Context, Endowments & Foundations, Institutional Asset Management, Family Offices, Private Investments, Allocating to A.I.

By Bill Kelly, CAIA Association CEO The American history buffs out there will know that we are just a few short weeks away from the 246th anniversary of the Boston Tea Party. Back in 1773, the British government was deep in debt and decided the very best course was toRead More


More ‘Greater Fools’ After WeWork

Nov 14th, 2019 | Filed under: Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, Business News, The A.I. Industry, Private Investments

The term “greater fool theory” refers to the many circumstances in which speculators buy a (potentially) productive asset, basing their buy decision not on the asset’s operational value, but on the notion that there is a “greater fool” out there who will pay even more. The term refers, then, toRead More


Investors Want Liquidity and They Want it Now

Nov 7th, 2019 | Filed under: Private Equity, Hedge Fund Strategies, Debt Types of Private Equity, Newly Added, Institutional Investing, Equity Types of Private Equity, The Global Economy & Currencies, Other Issues in Private Investments, Business News, Economics, The A.I. Industry, Institutional Asset Management, Hedge Funds, Macroeconomics, Private Investments, Allocating to A.I., Finance & Economics, Other Topics in A.I.

A recent publication from Fidelity Institutional Asset Management, while looking at the money markets in the US, emphasizes that investors are looking for liquidity. The report, written by Kerry Pope and Chris Lewis, each an institutional portfolio manager with FIAM, begins with a discussion of the Federal Reserve’s September rateRead More


Mergers and Acquisitions Trending Down in Europe

Nov 5th, 2019 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, Business News, The A.I. Industry, Private Investments

In  a new report, Pitchbook looks at the mergers and acquisitions trends in Europe. In 2019 through September, the value of European M&A is lower than it has been since 2014, and the volume is lower than it has been since 2010. Only two sectors did not see year-on-year declinesRead More


Improve Private Funds, Don’t Do Away with Them

Oct 22nd, 2019 | Filed under: Consultants, Private Equity, Debt Types of Private Equity, Newly Added, Institutional Investing, Equity Types of Private Equity, Other Issues in Private Investments, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Private Investments, Allocating to A.I.

By John L. Bowman, CFA This editorial first appeared on Sept. 18 in Crain’s Pensions & Investments online edition. It’s open season on private equity in the Democratic presidential debates. Senators Elizabeth Warren and Bernie Sanders and others have made attacking “Wall Street” a major plank in their campaign platforms.Read More


Divestitures and Carve-outs in the Top Middle Market Deals

Oct 8th, 2019 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Private Investments

Private equity middle market deal-making did well in the first half of 2019, matching the pace of 2018, which was a record-setting year, according to a new report from Pitchbook. The authors credit the usual suspects with this continued vigor: lots of dry powder; low interest rates; and continued economicRead More


Washington, Don’t Bar the Door

Oct 3rd, 2019 | Filed under: Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Private Investments

PitchBook’s Adam Putz recently tackled the intensifying political scrutiny of Big Tech and the harm the scrutineers may do by trying to fix something that isn’t broken—the merger and acquisitions market for digital startups. The giants in the field (Facebook, Amazon, Apple, Google and its parent, Alphabet) are associated withRead More


Spoti-sly

Sep 30th, 2019 | Filed under: Retail Investing, Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, What about beta?, Business News, Private Investments

By Bill Kelly, CEO, CAIA Association How do you turn a millennial into a capitalist? Sell her SNAP in the post-IPO market. A little hindsight here shows how ridiculous this all looked. The initial sellers of the shares were the founders and their VCs (just under 30% of the offering),Read More


Climate Change and Artificial Intelligence as Investment Mega-Trends

Sep 24th, 2019 | Filed under: Private Equity, Newly Added, Alpha Strategies, Venture capital, The Global Economy & Currencies, Technology, Artificial Intelligence, Other Issues in Private Investments, The A.I. Industry, Frontier markets, Emerging Alternative Investments, Private Investments, SRI and Clean Energy, Other Topics in A.I.

A report from CREATE in collaboration with BNY Mellon looks at two related megatrends in investing—climate change and artificial intelligence. It asks in each case: how is this trend perceived in terms of opportunities and risks? What are the specific investment issues involved or solutions likely to be adopted? AndRead More


Anatomy of an Upset

Sep 16th, 2019 | Filed under: Private Equity, Newly Added, The A.I. Industry, Hedge Funds, Private Investments

By Diane Harrison Everyone loves an underdog. While superheroes have their fans, there’s something about a dark horse or a comeback kid that generates support for a hard-won victory. Take the recent US Open tennis championship match between Serena Williams, the sports media’s proclaimed GOAT (Greatest of All Time) andRead More


European Private Equity Deals a Mixed Bag in Second Quarter

Sep 12th, 2019 | Filed under: Private Equity, Newly Added, Equity Types of Private Equity, The A.I. Industry, Private Investments

The second quarter in the private equity space in Europe this year was less lethargic than the first, with a 12.2% increase on a quarter-to-quarter basis. Pitchbook, in partnership with ACG, has issued its quarterly European PE Breakdown offering everything you might want to know about that space. The numberRead More


Back to the Near Future: 2019 Mergers & Acquisitions

Sep 5th, 2019 | Filed under: Private Equity, Hedge Fund Strategies, Debt Types of Private Equity, Newly Added, Event-Driven Hedge Funds, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Hedge Funds, Private Investments

Intralinks has put out its predictions for mergers and acquisitions activity through the remainder of this year. The Intralinks Deal Flow Predictor tracks early-stage deal activity to predict how many deals have reached public-announcement stage six months on. The latest issue of the SS&C Intralinks Deal Flow Predictor also includesRead More


Corporate Restructuring: United States vs. United Kingdom

Sep 2nd, 2019 | Filed under: Private Equity, Hedge Fund Strategies, Debt Types of Private Equity, Newly Added, Insolvency, Regulatory Environment, Event-Driven Hedge Funds, Other Issues in Private Investments, Business News, The A.I. Industry, Hedge Funds, Private Investments

David Stevenson, a US District Court Judge for the Northern District of Texas, has presented his analysis of the  differences between the law in the United Kingdom and the United States concerning “a debtor’s ability to approve a restructuring arrangement over the objection of creditors that disapprove.” This is moreRead More


Fintech: Not Such a Deal Right Now

Aug 20th, 2019 | Filed under: Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private Investments

Equity rounds of VC-backed investment in the financial technology sector retreated in the second quarter of 2019, according to a new CB Insights report. Second-quarter fintech deals dropped 22% on a quarterly basis and 23% compared to the same quarter in 2018. Early seed deal share fell a five-quarter lowRead More


How Endowments and Foundations Look at Hedge Funds

Aug 8th, 2019 | Filed under: Hedge Fund Industry Trends, Consultants, Private Equity, Hedge Fund Strategies, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, High-net-worth investors, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Fees, Family Offices, Hedge Funds, Private Investments

Cowen’s Capital Introduction Group has compiled information on what the endowment and foundation community is thinking about hedge funds and how best to invest in them. The Cowen paper on the subject begins with the observation, drawn from Preqin, that at present US-based E&Fs with more than $750 million inRead More


Postcards from the Edge

Aug 5th, 2019 | Filed under: Private Equity, Newly Added, Regulatory Environment, What about beta?, Alternative Investments in Context, Hedge Funds, Private Investments

By Bill Kelly, CEO, CAIA Association As the calendar turns to August we are in the waning weeks of summer in the northern hemisphere. Perhaps it is a good time to turn to the mailbag to see who has been doing what in this halcyon season… From Jerome in DC Read More


Ramping Up a PE Allocation Over Time

Jul 21st, 2019 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Risk management, Equity Types of Private Equity, The A.I. Industry, Risk Management Strategies & Processes, Private Investments

Many investors with long horizons are increasing their allocation to private equity funds: to extract the gains from managerial skill in that field, to reap the illiquidity premium, and simply to diversify. TIAA Endowment & Philanthropic Services has put out a paper on the creation and maintenance of a privateRead More


The Audacity of Opacity

Jul 15th, 2019 | Filed under: Consultants, Private Equity, Industry Size & Managers, Newly Added, Asset Managers, Institutional Investing, Media Coverage of Hedge Funds, What about beta?, High-net-worth investors, Alternative Investments in Context, Endowments & Foundations, Institutional Asset Management, Family Offices, Hedge Funds, Private Investments, Allocating to A.I.

By Bill Kelly, CEO, CAIA Association Why are we still talking about this? No, it’s not the central bankers and their insatiable easing tendencies, trade wars with China, or even the Women’s World Cup football match (sorry Netherlands!). These stories all make great headlines, drive news ratings, generate tickertape parades,Read More


Private Equity and the Law in India

Jul 9th, 2019 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Private Investments

A forthcoming article in the University of Pennsylvania Journal of International Law discusses the investor control rights typically negotiated in the private equity context in India. The article, by Arjya B. Majumdar, an associate professor at Jindal Global Law School, begins with the quantity of assets under management by theRead More


Oil & Gas: Where is the Capital Flowing?

Jul 7th, 2019 | Filed under: Private Equity, Commodities, Investing in Commodities, Newly Added, Equity Types of Private Equity, oil, Other Issues in Private Investments, The A.I. Industry, Commodities, Private Investments

The last two years have seen record low levels of mergers and acquisitions activity in the oil and gas sector in the United States. There are other signs of lassitude in the field: a record low volume of PE deals, (more of that in a moment), and only six initialRead More


Crop Protection and Inputs Management: Growing Investments in AgTech

Jun 20th, 2019 | Filed under: Private Equity, Commodities, Agriculture, Investing in Commodities, Debt Types of Private Equity, Newly Added, Venture capital, Farmland, Equity Types of Private Equity, Natural Resources and Land, Angel investing, The A.I. Industry, Commodities, Private Investments

The agricultural sector is under pressure from several directions, including depressed commodity prices, increased regulation, climate change, and changes in consumer tastes. This pressure creates a demand for technological progress, and that in turn creates a market for agtech. Two years ago, Finisterre Ventures and Pitchbook combined their data gatheringRead More


Why Fintech May Not Be Fit for Public Consumption

Jun 11th, 2019 | Filed under: Private Equity, Newly Added, The A.I. Industry, Private Investments

Why are there so few fintech IPOs? That’s the topic of a new Pitchbook study. The year 2019 seems set to be a record-setting one for venture capitalist exit value capture by means of tech IPOs. The successful exits thus far may be charged to the VCs with positions inRead More


Hedge Funds, Agency Capitalism, and Poison Pills

Jun 9th, 2019 | Filed under: Private Equity, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Hedge Funds, Private Investments

A new paper in the Journal of Applied Corporate Finance looks at “agency capitalism” and its development in the United States during the past 15 to 20 years. The term “agency capitalism” refers in general to any system in which institutional investors dominate as shareholders of record for the votingRead More


Public to Private LBOs and Innovation

May 21st, 2019 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Regulatory Environment, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Private Investments

A new study considers the proposition that indebtedness can reduce innovation. It offers support for the view that indebtedness in a particular context reduces patent flow. But whether patent flow should be considered a good surrogate for innovation remains open to question. An argument that has long been aimed atRead More


The ‘Vortex of Volatility’ and the Merger Market  

May 16th, 2019 | Filed under: Private Equity, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Event-Driven Hedge Funds, Equity Types of Private Equity, Other Issues in Private Investments, The A.I. Industry, Hedge Funds, Private Investments

Intralinks, the provider of inter-enterprise collaboration products that is perhaps best known for its Deal Flow Predictor, recently interviewed Paul Aversano, a managing director at the consultancy Alvarez & Marsal. Aversano leads A&M’s private equity services practice, and he is the global practice leader of the transaction advisory group. HeRead More


Canada’s Venture Capitalists: A Gender Gap

May 13th, 2019 | Filed under: Newly Added, Venture capital, Other Issues in Private Investments, The A.I. Industry, Private Investments

Female Funders, a program within the venture capital company Highline BETA, with offices in both Canada and the United States, has produced a new Women in Venture report, which works with data gathered from more than 300 VC firms and corporate venture arms in both countries “to try to paintRead More


‘There You Go Again’

May 6th, 2019 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, What about beta?, Other Issues in Private Investments, Alternative Investments in Context, Hedge Funds, Private Investments

By Bill Kelly, CEO, CAIA Association This now famous line was uttered by then citizen Ronald Reagan almost 40 years ago in a presidential debate with the incumbent Jimmy Carter. It was a simple and clever turn of a phrase acting as a counter-punch to Carter’s excoriation of Reagan’s priorRead More


Who is Investing in Fintech and Why?

May 5th, 2019 | Filed under: Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private Investments

CB Insights, the New York-based machine intelligence platform, has just released its Global Insights Report Q1 2019. The report finds that in the first quarter of 2019, financial technology companies backed by venture capitalists closed 445 deals globally, raising $6.3 billion. The sheer number of deals, then, was up quarter-over-quarterRead More


The Effects of US VC Money for Sweden’s Startups

Apr 24th, 2019 | Filed under: Newly Added, Venture capital, Equity Types of Private Equity, The A.I. Industry, Private Investments

The relationship between US venture capitalists and Swedish startup companies is the subject of a recent working paper from researchers at the University of Oxford’s Said Business School. This is a striking field of research, if only because in pop culture terms the US is often considered the haven ofRead More


McKinsey on Mainstream Private Markets

Apr 22nd, 2019 | Filed under: Private Equity, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, Alternative Investments in Context, The A.I. Industry, Private Investments

The 2019 edition of McKinsey’s annual review of private investment markets is now available. One of the themes of the new edition is that private markets have gone mainstream. Since 2002, private equity’s net asset value has grown twice as fast as global public equities. Looking at that growth fromRead More


The Illiquidity Premium and the Market for Private Assets

Apr 14th, 2019 | Filed under: Real Estate, Private Equity, Debt Types of Private Equity, Liquid and Fixed Income Real Estate, Newly Added, Asset allocation, Equity Types of Private Equity, Asset Allocation Models, Other Issues in Private Investments, Operationally Intensive Real Assets, The A.I. Industry, Real Estate Equity Investments, Private Investments, Real Assets, Finance & Economics

The illiquidity premium is one of the most frequently discussed and hotly disputed subjects in financial economics. Speaking broadly, an investment is not a checking account. One generally cannot just “get the cash back” at a moment’s notice, by visiting some equivalent of an ATM. How long will it takeRead More