Dan Loeb Wins Vote to Turn UK Investment Trust Into Reinsurer
A majority of investors backed a plan for London-listed Third Point Investors to acquire Cayman Islands-based Malibu Life Reinsurance, according to a statement Thursday. The British trust's previous purpose was to invest in Loeb's hedge fund Third Point LLC.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
6 minutes ago
- Bloomberg
BlackRock Readies Venture Secondaries Fund as Market Heats Up
BlackRock Inc. is preparing to roll out a new fund that will buy discounted venture capital stakes from other investors, expanding its push into a hot market. The world's largest money manager disclosed plans for the fund this month in regulatory filings. BlackRock executives Jarid Colucci, Derek Krouner and Lisa Sun will oversee the vehicle, the firm's first focusing on secondhand venture stakes.
Bloomberg
6 minutes ago
- Bloomberg
Muni High-Yield ETF's $1.5 Billion Inflow Was Industry's Biggest
A high-yield municipal-bond fund run by Capital Group saw the biggest inflow of any US-based exchange-traded funds on Friday, with an infusion of $1.54 billion. The Capital Group Municipal High-Income ETF had $241 million of assets on Thursday. One day later, that had jumped to $1.78 billion, a 639% gain, after the massive influx of cash, the data shows.
Bloomberg
6 minutes ago
- Bloomberg
What Are Private Equity's Continuation Funds? How Do They Work?
Private equity, the business of buying companies, fixing them up and selling them for a profit, is in a bind. The industry boomed during the era of low interest rates, when private equity firms could raise ever-bigger piles of cash from pension funds and endowments to purchase large, expensive companies, with the help of inexpensive debt. But the Federal Reserve 's move in 2022 to increase borrowing costs cut off that flow of cheap money, setting off a slowdown in the buying and selling of companies. More than three years on, private equity firms collectively own thousands of companies that they can't sell for a profit. Investors in private equity are getting impatient to see a return on their investments. Private equity's solution: the continuation fund.
