Portsmouth Financial Services to become a branch office of leading broker-dealer Arete Wealth Management by Released | May 30, 2024 Concluding a multi-year search, Portsmouth Financial Services has entered into an asset purchase agreement that will bring approximately 40 advisers and more than $800 million of assets under management (AUM) to Arete Wealth Management, LLC, a full-service broker-dealer and registered investment advisory firm (RIA), subject to FINRA review.
Storage Units Income Fund II increases additional preferred return by Released | May 30, 2024 Storage Units Capital, a self-storage real estate investment firm, announced today that Storage Units Income Fund II, LLC has increased the additional preferred return to 5 percent for investments made on or after May 1, 2024. Additionally, the fund has lowered the ongoing management, acquisition, disposition and advisory fees by a total of 5 percent.
Pennybacker closes Fund VI with $1.6b of committed capital, exceeding target by Andrea Zander | May 29, 2024 Pennybacker Capital Management has held a final close for its sixth value opportunity series fund, Pennybacker VI, LP (Fund VI), which exceeded its target with $1.6 billion in capital commitments.
CIM Group sells Lennox at West Village, 159-unit apartment community in Dallas by Released | May 29, 2024 CIM Group has sold Lennox at West Village, a 159-unit apartment community set on a 6.49-acre property with 249 parking spaces that was acquired in 2013.
iCapital makes two new partnerships by Andrea Zander | May 29, 2024 Charles Schwab & Co. has made iCapital its exclusive alternatives partner, reported RIABiz. And Pantheon and iCapital have formed a global partnership to distribute Pantheon open-ended products in the wealth management channel.
Bryan Johnson joins Star Mountain Capital by Released | May 29, 2024 Bryan Johnson has joined as a managing director based in Star Mountain’s Los Angeles office.
MassMutual Taps CAIS to Expand Advisor Access to Alternative Investments by Released | May 29, 2024 The CAIS alternative investment platform is now available to financial advisors affiliated with MML Investors Services, an independent broker/dealer and investment adviser subsidiary of MassMutual.
J.P. Morgan Research’s analysis of alternative investment markets in 2024 by Lewis Dayton | May 29, 2024 With alternative investments growing in prevalence among investment portfolios, understanding the various alternative market spaces is becoming more important to investors. J.P. Morgan Research recently picked apart what to expect among alternatives in 2024.
Linden announces minority investment from Blue Owl’s GP Strategic Capital Platform and Lunate by Released | May 28, 2024 Linden Capital Partners, a Chicago-based healthcare private equity firm, has received a minority investment from Blue Owl’s GP Strategic Capital platform and Lunate Capital via their joint venture. Terms of the transaction were not disclosed.
Family offices invest in ECP $6.7b fund by Released | May 28, 2024 Energy Capital Partners (ECP) has held a final close for its fifth flagship equity strategy, ECP V, with total capital commitments of $4.4 billion.
Ares Industrial REIT to begin a perpetual private offering by Lewis Dayton | May 28, 2024 Ares Industrial Real Estate Income Trust will begin a perpetual private offering of multiple classes of common stock, reported theDIWire.
Charles Schwab plans to launch alts investment platform by Lewis Dayton | May 28, 2024 Charles Schwab has plan to launch an alternative investments platform for individual investors later this year, reported Paige Smith for Bloomberg.
Bitwise receives SEC approval for spot Ethereum ETF by Released | May 28, 2024 Bitwise Asset Management, the crypto specialist and the largest crypto index fund manager in America, has announced the historic approval of the New York Stock Exchange’s 19b-4 filing for Bitwise’s first spot Ethereum ETF. Bitwise intends for the fund to begin trading once the SEC declares its S-1 Registration Statement effective.
Data center growth has economic ripple effects by Released | May 28, 2024 Development of new data center facilities is not only accommodating advanced technologies like artificial intelligence but is also contributing to widespread economic growth, according to CBRE.
Savvy Advisors grows team to 20 with four new wealth managers by Released | May 24, 2024 Savvy Advisors, a registered investment advisor affiliated with Savvy Wealth Inc., has announced that four new wealth managers have joined the firm. These advisors now have access to Savvy Wealth’s purpose-built, fully integrated technology platform. Powered by proprietary technology, Savvy’s wealth managers are empowered to increase efficiency, scale revenue faster and spend more time focused on serving their clients.
