Millennium in Talks With Goldman's Petershill About Stake Sale
Izzy Englander's Millennium Management is in talks with Goldman Sachs Group Inc. 's Petershill unit about helping find buyers to take a minority stake in the hedge fund, according to a person familiar with the matter.
Candidates could include some of Millennium's largest investors, the person said, asking not to be identified because the discussions are confidential. Petershill specializes in buying stakes in alternative-asset managers. Representatives for both firms declined to comment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
an hour ago
- Forbes
More Crypto IPOs Are Coming: 3 Initial Public Offerings To Watch For
INDIA - 2024/04/07: In this photo illustration, a Bitcoin Logo seen displayed on a smartphone with ... More the Wall Street - New York Stock Exchange logo in the background. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images) Circle, the issuing company of the USDC Stablecoin, went public last week under the ticker 'CRCL'. The company's stock surged over 168% during its first day of trading, blowing investor expectations out of the water. Their wildly successful listing will likely trigger a rush of additional crypto companies to list or accelerate their plans to go public. I've put together a list of the top 3 crypto-related public listings that will likely make headlines in the months to come. Before we get to the list, let's quickly review the numbers of Circle's recent listing to grasp just how impressive the outcome was for its investors. Circle first announced its plans to go public on May 27th, 2025, though the company had filed for an S-1 registration with the SEC back in January 2024, which signalled its intention to go public. The company was initially targeting to raise $624 million by offering 24 million shares as part of its listing transaction. During the road show, the price was estimated at $24-$26 per share. Due to strong demand, the company increased the offering to 32 million shares at $27-$28 per share, upping the amount raised to $896 million. Even at the increased valuation, the company received 25 times more demand for the shares than expected, meaning the deal was 25 times oversubscribed. To put this in context, this implies that there was demand for ~850 million shares vs the 34 million that Circle was offering for sale. Part of the excitement came from the fact that ARK Invest and Blackrock had strong demand to invest. Circle finally penned the deal by selling 34 million shares at $31 per share, raising a total of $1.05 Billion and valuing the company at $8.1 Billion on a fully-diluted basis. During the first day of trading, the company's share price rose by 168%, closing the day at $81.69. This valued the company at ~$20 billion. While the excitement around Circle's IPO is partly rooted in the optimism surrounding U.S. dollar pegged stablecoins, the deal also implies strong investor interest to participate in the future of the digital economy that's being built around Bitcoin and digital assets. You can bet that other companies in the space are observing the deal with optimism and will likely work to accelerate their plans to list this year. Here are the top 3 companies that have announced or reported plans to list in the months ahead: Gemini As reported three days ago, the U.S.-based crypto exchange owned by Tyler and Cameron Winklevoss, filed for an Initial Public Offering (IPO) in the U.S.. In terms of projected valuation, the company has not yet reported a price, but its last priced round back in November 2021 valued the company at $7.1 Billion. The estimated listing date is late 2025 or early 2026. Kraken The San Francisco-based exchange has also been reportedly getting ready for an IPO in early 2026, although no formal registration has been filed. The company's last priced round was all the way back in 2019, when it raised $13.5 Million at a $4 Billion valuation. The company has reportedly been working with banks to complete a debt offering to boost growth ahead of the listing. Bitgo Back in February the U.S. based custodian was reported to be eyeing an IPO 'as early as this year', though no formal registration has been filed yet. Bitgo's last priced round was done in August 2023, valuing the company at $1.75 Billion. These are just three companies-- after Circle's warm welcome, you can bet that there will be more announcing plans to list soon. In a market where Bitcoin Treasury company stocks and Bitcoin ETFs are performing so well, equity from companies that provide the infrastructure for the industry seems like a logical next step.
CBS News
an hour ago
- CBS News
For Philadelphia's Strawberry Mansion neighborhood, potential SEPTA cuts would be devastating
In Philadelphia's Strawberry Mansion neighborhood, half the residents don't own cars. For them, public transportation is essential, not a choice. Neighbors like Marcella Bevins rely on SEPTA to get to doctor's appointments several times a month. "I got to my oncologist, that's the 49 bus to go to Civic Center ... I catch the 49 to go to 30th Street Station to catch the El," said Bevins, a Strawberry Mansion resident. But SEPTA's $213 million budget deficit is pushing the agency to shrink the system. It plans to cut 50 bus routes and five Regional Rail lines and reduce service across the board. Strawberry Mansion will be hit especially hard. Nine routes through the neighborhood could be discontinued or reduced by up to 20%. "I don't know what SEPTA is doing; they raised the fare, and then they want to cut routes. That doesn't make sense," Bevins said. "They feel like it's an attack on them and their life. It's a food desert. Not a lot of places to get groceries, and they've got relatives across the city they want to visit," Jalon Alexander, an attorney and community advocate, said. Alexander hosted a meeting on Monday at Garden of Prayer Church, bringing neighbors, SEPTA officials and lawmakers together. "Candidly, SEPTA's the victim here. SEPTA needs funding to thrive," Alexander said. Right now, SEPTA funding depends on lawmakers in Harrisburg, who have until June 30 to include SEPTA in the state budget, just ahead of the transit agency's own deadline. "The money that needs to be spent is nothing compared to the money that will be lost if we do not fund SEPTA," state Sen. Sharif Street said. When service cuts go into effect beginning Aug. 24, SEPTA said affected riders will still be able to use alternate routes to get to their destinations. However, that could include more transfers, and most people's commutes may be longer and more complicated. "If I've got to catch another bus when I've been catching the same bus for 25 years to get to and from work, that's going to cost me more. That affects my budget," Tyrone Williams, of Strawberry Mansion Community Development, said. It also affects their jobs, health, families and daily survival. The Strawberry Mansion community said decisions about service cuts shouldn't be made without their voices at the table. "I think SEPTA attending the meeting today reflects their commitment to work with the community as a team because they're an integral part of our lives," Alexander said.
Washington Post
an hour ago
- Washington Post
Police fire less-lethal rounds, push protesters
RFK Jr. has big plans for your food. Here are the facts. May 2, 2025
