TPG-Angelo Gordon’s Combined AUM Is $208 Billion Private equity asset manager TPG Inc. is acquiring Angelo Gordon, a $73 billion credit and real estate investment firm via a cash and equity transaction valued at approximately $2.7 billion, officials say. Acquiring Angelo Gordon “marks a significant expansion into credit investing for TPG, establishing additional levers to… Read More >>
SWIFT Tests API for CBDCs & Other News
SWIFT’s CBDC Connector Shows ‘Potential’ Officials at SWIFT, the global financial messaging services and systems cooperative, say that 18 central and commercial banks foresee “clear potential and value” in a connector for Central Bank Digital Currencies (CBDCs) based upon an application programming interface (API) that is SWIFT’s experimental solution for interlinking CBDCs. SWIFT reports that… Read More >>
Insurance Investment Managers Can Optimize PE Returns: Q&A
(FTF News recently got time with Stan Szczepanik, managing director and head of insurance solutions at SS&C Technologies, and Scott Kurland, managing director at SS&C, who took questions about key trends facing insurance company investment portfolios — complex portfolios, a growing convergence between private equity (PE) and insurance entities, and the ways that artificial intelligence… Read More >>
Form PF Gets an Overhaul via the SEC & CFTC
Form PF is experiencing growing pains after its first decade. Those firms that are required to use Form PF to report confidential information on private funds will be providing many more details if key amendments are ultimately adopted by both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) The new… Read More >>
SEC Moves to Revamp Form PF & Other Briefs
SEC Lowers the PE Threshold for Form PF The SEC is proposing changes to Form PF, which is the reporting form “for certain SEC-registered investment advisers to private funds,” including lowering the threshold for firms that come into scope for the reporting requirement. The SEC proposal “would decrease the reporting threshold for large private equity… Read More >>
State Street Embraces A.I. for Private Markets Clients
State Street Corp. is hoping to provide private markets clients with faster access to their data, to digitize more of their reporting capabilities, and to enhance operations and document management via a combination of cloud computing and machine learning with the help of vendor Canoe Intelligence. By definition, machine learning “is the concept that a… Read More >>
Roley Leaves SS&C Advent for Post at TPG
Robert Roley has left systems and services vendor SS&C Technologies to take a position at private equity firm TPG, and SS&C has named two co-heads to replace him at the SS&C Advent division. “After 18+ years as a technology operator with Advent Software and SS&C, I joined TPG Capital’s software and enterprise technology team to… Read More >>
SEC Probe Spurs Firm to Revamp MNPI Policies
Private equity firm Ares Management is settling with the SEC over charges that it lacked proper policies and procedures to oversee the handling of “material nonpublic information [MNPI],” a.k.a. insider information, according to the regulator’s order. The case revolves around the firm’s representation on a board of directors “of a listed issuer” in the Ares investment… Read More >>
Should Hedge Funds Skip the Paycheck Protection Program?
In yet another sign of these pandemic times, the U.S. Congress has passed an act launching a $349 billion emergency loan program — the Paycheck Protection Program (PPP) — that operates through the Small Business Administration. Under the federal program, “most businesses with 500 employees or fewer are eligible for two-year loans with a 1%… Read More >>
Investors Question U.S. Government’s COVID-19 Response: Survey
Limited partner (LP) investors are having some major reservations about the federal government’s handling of the COVID-19 pandemic, which is also affecting their investment activity, according to a new survey from global capital placement agent Eaton Partners. Among the results from the “Eaton Partners LP Pulse Survey” is that “an overwhelming majority of institutional investors… Read More >>
