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High Times: Former BlackRock Exec Launching Massive Marijuana Fund
Asset Management
A former BlackRock executive is co-chairman of a new private equity fund that is looking to raise $250 million to invest in marijuana businesses springing up in major U.S. markets, Bloomberg reports. If the MedMen Opportunity Fund II (a play on Mad Men?) does raise a quarter-billion dollars, it would make it one of the largest funds to invest in the
Fund Managers' Equity Allocation Hits Six Month High
Asset Management
For the first time in six years, fund managers believe that the outlook for the global economy is looking up, and fund managers are upping their equity allocation as a result. According to Bank of America’s monthly Global Fund Manager Survey, 48% of respondents (up 5%) believe that over the next 12 months the global economy is heading into a
8 Takeaways From Allianz Global Investors’ New York Investment Forum
Asset Management
1. Investors still must take some risk for the potential to earn some return For some time, we have been advising our clients to take measured risk in their portfolios – and that advice has not changed. With interest rates set to remain lower for longer, investors simply have no choice – even with the markets near record highs. Yet
Bain Capital Approaches $10 Billion for Latest Fund
Asset Management
Bain Capital has raised $9.4 billion for its 12th flagship buyout vehicle, according to Bloomberg, surpassing both a $7 billion target and an $8 billion hard cap. The additional $1.4 billion will reportedly come from the firm itself, representing a bigger contribution than is typical for the Boston-based buyout shop. The news is yet another example of the current red-hot
BlackRock Automation Expert Says Factors Must Be About More Than Backtesting
Asset Management
When BlockRock’s Andrew Ang looks at factor investing and market cycles, he thinks there is nothing new under the sun. Factors and market cycles have always existed, he told an audience at the Morningstar ETF Conference. It’s just a matter of how to recognize them in an active manager’s performance stats and extract them into an investment vehicle. Source: BlackRock
Botox and Bikinis: KKR Buys Laser Clinics Australia for $650M
Asset Management
An Australian company that specializes in perfecting bikini lines has completed a deal with a private equity giant. By Kohlberg Kravis Roberts (http://www.kkr.com/KKR_Logo.svg) [Public domain], via Wikimedia CommonsKKR has reportedly paid $650 million for Laser Clinics Australia, a provider of laser hair removal, cosmetic injections and other services, from the company's founders and The Growth Fund, which had backed the
Radioactive II: Could the Tide Finally Be Turning for Active vs. Passive?
Asset Management
Key Points Both active and passive management styles have a home in investors' portfolios. Passive continues to outperform active, but we may have seen the inflection point. Plunging correlations and wider sector dispersion both bode well for active styles. I'm often asked how I invest my own money and often imbedded in the question is whether I prefer active or
Cramer Finds a Way to Explain Stock Diversification With Fantasy Football
Asset Management
What does fantasy football have to do with stock picking? Quite a lot actually, CNBC's Jim Cramer explained during his daily "Mad Money" show. A strong fantasy football team should be built in the same fashion of a stock portfolio. The Perfect Lineup Key to any fantasy football team would be to include three top-notch wide receivers — or in stock
Investor Spotlight: The Rapid Rise of Thoma Bravo
Asset Management
It’s possible that the two firms most responsible for the rise of the LBO in the 1980s were KKR and Golder Thoma. While KKR famously pioneered the hostile mega-buyout, assuming the role of barbarian at the gate, Golder Thoma developed a different tactic: the buy-and-build strategy, using one company as a platform for add-ons as a way to drive growth.
On Value in the Emerging Markets
Asset Management
“Value” is an over-utilized term within the investment management industry. A wide range of fund managers employing disparate strategies claim to utilize “value disciplines” or to follow a “value approach.” In truth, there is no standardized definition for the notion of “value investing.” The progenitors of the value discipline, Benjamin Graham and David Dodd, never themselves used the term to