Finance Knuggets

Jan 17, 2025

I heard some interesting updates on the financial markets and investment activities today. Bill Nygren’s Oakmark Fund has been making some value-focused investments in companies like Airbnb, Carlyle Group, Elevance Health, GE HealthCare Technologies, and Keurig Dr Pepper, based on their potential for growth and undervaluation. There have also been slight increases in S&P; 500 and Nasdaq futures, as well as movements in Treasury yields, the dollar, gold, and oil.

The Axios Pro Rata newsletter highlighted a record haul for secondaries in private equity, with Ardian raising $30 billion for its ninth private equity secondaries fund, indicating continued activity and growth in the private equity market. Additionally, there are updates on various venture capital deals, private equity deals, public offerings, liquidity events, fundraising, and M&A; activity in various industries, including technology, healthcare, energy, and retail.

Sagard Holdings of Montreal is launching a PE fund for retail investors, and there have been some key personnel changes at firms like Advent International, Bessemer Venture Partners, Dextra Partners, TPG, Goldman Sachs, Greycroft, a16z, and BDT & MSD Partners. In addition, Morgan Stanley has promoted Lily Mahdavi and Ben Teasdale as co-heads of Americas M&A;, while Southfield Capital has elevated Chris Grambling to partner. Finally, StandardAero, a key player in the aerospace aftermarket, is now publicly traded, serving commercial, military, and business aviation sectors.

There’s also been a shift in the way Goldman Sachs is making money, as they are now seeing opportunities in keeping companies private. Short-only hedge funds are facing challenges, and Eurodollars have been the subject of a recent podcast series that sheds light on their significance in the global financial system. In other news, Morgan Stanley’s profit has doubled with a big stock-trading beat, while BofA’s investment bankers have boosted earnings as loan income rises. Additionally, private equity is facing distress for long-held assets, and pension funds are starting to dabble in crypto following a massive bitcoin rally. Even Harvard M.B.A.s are struggling to land jobs in the current market.

Stay Well!

summy
summy