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 >>
Elizabeth Warren Focuses on Private Equity’s ‘Loopholes’
U.S. Senator Elizabeth Warren (D-MA) is leading an effort to change how the private equity industry operates via a bill recently presented to the U.S. Congress that intends to close so-called “loopholes” that help private equity firms score major rewards from investments but without risk and little regard for the human cost of such enterprises…. Read More >>
BlackRock to Broaden Aladdin via eFront Acquisition
The world’s largest asset manager BlackRock is acquiring alternative investment management software provider eFront with the intention of combining its offerings with the Aladdin software system, broadening the reach of BlackRock’s investment platform to include capabilities for private equity and other alternative investment funds. If all goes according to plan, BlackRock will acquire via a… Read More >>
Calpers Pursues Plan to Increase Private Equity Investments
The key investment committee of the California Public Employees’ Retirement System (Calpers) pension fund initially approved the concept of having its own two new groups make private equity investments that could grow to a combined $20 billion. In particular, the committee on March 18 acted to include two organizations — Pillars III (Late Stage Venture/Growth)… Read More >>
Northern Trust, FIS Collaborate on Private Equity Tools
Custodian bank Northern Trust has been collaborating with vendor FIS to offer private equity fund administration clients better reporting and analytical tools that will bring more transparency to fund operations, facilitate on-demand data and deliver customized views of portfolio information. The collaboration is built upon FIS’s Data Exchange Reporting and Analytics (DX R&A) solution, officials… Read More >>
Northern Trust Merges Hedge Fund & Private Equity Services
Custodian bank Northern Trust has merged its private equity and hedge fund businesses and relaunched the combined groups as the North America Alternative Fund Services to reflect a convergence underway in the industry. The refocused group is in line with investment managers who are adjusting to new operational challenges “as they move across asset classes… Read More >>
How Harmful is Knee-Jerk Deregulation?
(Editor’s note: David Bailey, group head of marketing and communications, Augentius, spoke to FTF News about the need for transparency among the general partners, limited partners and regulators, particularly as the CHOICE Act bill, a Republican alternative to the Dodd-Frank Act, is proposing cut the SEC registration requirement for private equity investment advisers. The private… Read More >>
