Latest news with #privateMarkets
Finextra
9 hours ago
- Business
- Finextra
Asic shares industry feedback on tthe future of Australia's public and private markets
ASIC today released more than 50 public submissions received in response to its discussion paper on the evolving dynamics between public and private markets, released in February 2025. 0 The paper examined the health and future of Australia's markets, including the growth in private markets, the decline in public listings, and the growing significance of superannuation funds. ASIC continues to meet with domestic and international stakeholders and has received almost 90 submissions. The responses have been overwhelmingly positive and reflect the views of industry bodies, market operators, superannuation trustees, fund managers and other stakeholders across the finance sector. ASIC Chair Joe Longo said the agency was closely considering the submissions to inform its next steps. 'ASIC has a mandate to drive financial system performance and improve investor confidence. 'ASIC wants both public and private markets to thrive and flourish - together, they drive more investment, more opportunities for companies to grow, and more jobs for Australians. 'I was encouraged by the breadth and richness of the responses we received, which recognised this is a timely discussion that will shape the future of Australia's capital markets. We heard our markets are strong but changing, and that public and private markets must complement, not cannibalise each other.' ASIC has distilled the feedback into themes, which are shaping further work and thinking, including learning from international experience. These include: Structural and cyclical factors are shaping both public and private markets Public market adjustments would improve and enhance their attractiveness Private markets are here to stay and grow, there is an acknowledgement of the need for any regulatory guidance to be measured, working closely with industry and aligning to international standards Private credit is good for the economy and investors, if done well. There may be work to do to ensure it is sustainably done well Superannuation is a mature investment force in Australia and a significant and structural influence in markets and investment More to do on data collection and transparency of private markets including in dimensioning the market itself and learning from international practices. 'I thank everyone for their feedback; ASIC is listening. We have noted a range of insights and actionable ideas, including streamlining IPOs and disclosure requirements. We will carefully consider the requests for urgency to improve the attractiveness of Australia's public markets, as well as the caution expressed in submissions to move carefully in adjusting any settings in private markets. 'We look forward to announcing the adoption of some of the proposed actionable ideas and will share our roadmaps for public and private markets in Q3 and Q4, respectively, this year. This work will be supported by further feedback from stakeholders, our ongoing surveillances, and views from market experts in the coming months,' Mr Longo said. Background On 26 February 2025, ASIC released a discussion paper which explored the changing dynamics in capital markets in Australia and abroad, including declining listings on public markets, the rapid growth in investment capital allocated to private markets and the growing significance of superannuation funds in markets. To further support its markets work, ASIC has commissioned the following expert insight papers on: the future state of Australia's capital markets; the private credit environment; and international approaches to data and transparency in private markets. ASIC's work will also be informed by current surveillance activity of retail and wholesale providers of private credit and private market managed investment schemes. The discussion paper followed ASIC's report, Equity market cleanliness snapshot report (REP 786), released in July 2024. The market cleanliness report showed Australia's listed equity markets have continued to operate with a high level of integrity and remain consistently among the cleanest in the world. The report provided a broader context for the findings in Report 787 Review of Australian equity market cleanliness: 1 November 2018 to 30 April 2024 (REP 787). ASIC's Moneysmart website has information for consumers about how to choose the right investments to reach their financial goals.
Bloomberg
10 hours ago
- Business
- Bloomberg
Apollo Sees Opportunities in Investment-Grade Credit
Apollo Global Management President Jim Zelter discusses private markets and why he sees opportunities in investment-grade credit. He talks with Bloomberg's Kriti Gupta at the SuperReturn Conference in Berlin. (Source: Bloomberg)
Bloomberg
2 days ago
- Business
- Bloomberg
BlackRock Plans Private Market Hires to Win Over Rich Europeans
By Benjamin Stupples and Save BlackRock Inc. is ramping up plans to offer more of its private-market products to individuals outside the US as the Wall Street giant increasingly tries to muscle in on one of the hottest areas in global finance. The world's largest asset manager is targeting a hiring drive and tie-ups with digital investment platforms in the Europe, Middle East and Africa region to boost individual investors' access to its private-markets products, BlackRock executive Fabio Osta said in an interview.
Bloomberg
27-05-2025
- Business
- Bloomberg
Top Indian Exchange's Valuation Jumps 60% With IPO Looming
Growing hopes for a listing of the world's biggest equity-derivatives bourse have pushed the valuation of the National Stock Exchange of India Ltd. to $58 billion in private markets, according to people involved in recent transactions. Wealthy investors and institutions anticipating an initial public offering as early this year have been buying the unlisted shares aggressively, two of the people said, asking not to be identified as the deals are private. With demand far outstripping supply, the stock has changed hands for as much as 2,000 rupees ($23) recently. Its valuation had already doubled in just four months to as much as $36 billion in September.
National Post
12-05-2025
- Business
- National Post
iAltA Holdings Launches with Initial Funding of $20M to Modernize Private Markets, Led by Proven Industry Builders and Backed by WestCap
Article content Acquisitions of Verivend and Betterfront will form the foundation of iAltA's first platform solution, iAltA Private Markets, to help GPs manage their fund lifecycle and effectively serve their LPs with better technology and transparency Article content NEW YORK — iAltA Holdings ('iAltA'), a private markets infrastructure company, announces its launch with an initial funding of $20 million led by WestCap, a strategic operating and investing firm with over $6 billion in assets under management. Incubated at WestCap, iAltA's mission is to build an innovative digital infrastructure that unifies private market systems. As part of this announcement, iAltA is also launching its first platform solution, iAltA Private Markets, to empower General Partners (GPs) to seamlessly execute transactions and cash movements, efficiently engage with investors, streamline fund operations and make data-driven decisions. Article content The explosive growth and complexity of alternative assets – expected to reach $24.5T in 2028 across private equity, real estate, private credit and beyond – has outpaced the technology systems needed to support investment managers and their investors. As a result, the market has become cluttered with point solutions and hindered by fragmented processes and limited transparency. With the launch of iAltA, the founding team is addressing the industry's need for comprehensive solutions that target the market's most pressing inefficiencies. The company plans to establish multiple subsidiaries by acquiring technology companies, retooling and integrating products, and accelerating innovation through strategic partnerships. Article content 'The alternative asset class is facing the growing pains we've seen before: inefficiencies and missed opportunities due to outdated infrastructure,' said Scott Ganeles, CEO at iAltA. 'We have developed a distinctive model, combining operational expertise, entrepreneurial agility and investment acumen, in a pursuit of transformational change that moves the entire industry forward.' Article content The founding team members each bring over three decades of hands-on experience building and scaling transformational companies in private markets that set industry standards. Laurence A. Tosi will serve as a board member, Scott Ganeles as CEO and Bill Sherman as President at iAltA. In 2001, Tosi spearheaded the launch of Ipreo, which was incubated out of Merrill Lynch after recognizing the need for a digital-first way to interact and transact with the public markets. He was joined by Ganeles as CEO and Sherman as EVP and Head of Data Strategy to grow Ipreo into a $1.9B business that was acquired by IHS Markit. In 2010, Tosi followed suit with the launch of iLEVEL, incubated out of Blackstone, transforming how fund managers view and manage their portfolios and risk in real time. Article content After reuniting at WestCap in 2018, Ganeles and Tosi saw that the alternative asset class is facing the same growing pains they've seen before. Together, with Sherman, they created iAltA, which carries forward the legacy of modernizing markets through thoughtful innovation — this time, with the bold ambition of reshaping the entire private market ecosystem. Article content 'Our formation and investment in iAltA follows in the footsteps of Ipreo and iLEVEL with the same proven formula for disruption and innovation: deep industry expertise, technology-driven solutions, and a vision to unify fragmented systems into one seamless digital ecosystem,' said Laurence A. Tosi, Managing Partner and Founder at WestCap. 'We're practitioners building for practitioners — collaborating with the industry to solve its challenges holistically and drive positive, lasting change to benefit all market stakeholders.' Article content As the foundation for its first platform, iAltA acquired two companies, Verivend and Betterfront. Verivend is a transaction ready investor portal, empowering GPs to seamlessly, raise, deploy and manage capital through its purpose-built payments technology, while providing LPs with a best in class, seamless investing experience. Betterfront is a fundraising platform dedicated to helping PE and VC fund managers attract and retain LPs using sophisticated track record analytics and technology solutions. The acquisitions combine each company's expertise with iAltA's broader mission, robust resources, and extensive team experience in the industry. Article content 'By joining forces with iAltA, we have the opportunity to scale our impact and bring even greater value to existing and new clients,' said Rodney Reisdorf, Co-Founder at Verivend who will now serve as iAltA's Executive Vice President. 'Together, we will address industry pain points more effectively while capitalizing on the increasing demand for unified fund management solutions.' Article content WestCap is actively leveraging the iAltA platform to digitally transact and market its funds – aiming to unlock a new level of transparency for LPs through real time financials, detailed position tracking, and portfolio company data and analytics. Beyond its role as an investor and client, WestCap has been a key product design and development partner, helping shape the platform's technology and identifying strategic synergies across its broader portfolio through its extensive network. WestCap Partner, Jaime Hildreth, will serve on the board. Prior to joining WestCap, she was Head of Strategy for Private Capital Markets at Ipreo, where she played a key role in the acquisition of iLEVEL, which she founded and developed with Tosi during their time at Blackstone. Article content As iAltA expands, the company aims to foster meaningful collaboration between its subsidiaries, enabling shared learning and resource optimization that will unlock the next generation of private market potential. Article content iAltA Holdings is a private markets infrastructure company. Founded by Laurence A. Tosi, Scott Ganeles and Bill Sherman, for comprehensive platform solutions that streamline workflows and empower market participants with actionable insights to manage their investments. The company is uniquely positioned to collaborate with industry leaders to drive meaningful solutions to private markets, including their first platform solution, iAltA Private Markets, for GPs to manage their fund lifecycle and effectively serve their LPs. 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