Not Just ‘Bottom-Feeders’: Aimco Sees Boom in Private Equity Secondary Deals

Aug 27, 2024 | Markets, Private Markets

‘Discounts are starting to stabilize,’ CIO Puffer says PJT forecasts secondaries may hit record $145 billion in 2024 Smaller investors are beginning to test the secondary market for private equity holdings, providing greater stability to pricing, according to...

PDD’s $55 Billion Stock Crash Sends Warning on China Economy

Aug 27, 2024 | Markets

PDD’s stock plunges 29% after a disappointing sales outlook Beijing has been struggling with slowing economic growth One of the last remaining bright spots for Chinese consumption is rapidly fading, as the nation’s economic malaise takes a toll on demand for even the...

Hedge Fund Arbitrage Tactic Sees Payoff in PDD’s Record Plunge

Aug 27, 2024 | Markets

Strategy involves buying convertibles and selling shares short Gains on short position more than offset drop in bond price PDD Holdings Inc.’s record stock slide delivered gains to a popular hedge-fund strategy that seizes on the disconnect between the stock and...

BYD Says Fate of Lithium Project Is in Hands of Chile Government

Aug 26, 2024 | Markets

BYD should get preferential prices for SQM lithium carbonate Terms yet to be settled, BYD Executive Vice President Li says BYD Co. said the timing of its lithium project in Chile remains up in the air as the Chinese electric vehicle juggernaut continues to negotiate...

Fed Cuts May Send $1 Trillion FX ‘Avalanche’ to China, Jen Says

Aug 26, 2024 | Markets

Firms may convert foreign-exchange into yuan as Fed cuts Such a move may lead to a 10% advance in the yuan: Stephen Jen Chinese companies may be enticed to sell a $1 trillion pile of dollar-denominated assets as the US cuts interest rates, a move which could...

Texas Pension With $40 Billion to Hire Private Markets Investors

Aug 26, 2024 | Markets, Private Markets

Texas Municipal Retirement System is hiring three investment staff as it looks to expand direct investment capabilities in private markets, according to Yup Kim, chief investment officer of the $40 billion pension fund. Philip Hunter O’Brien will join as a managing...