Katie Park

Nice contribution by Ronald DeLegge about alternative ETF solutions that diversify large cap equity exposure. Thanks to Dorothy Hinchcliff and Jerilyn Klein https://lnkd.in/eyZHyqJ4 The key advantages of alternatives, again, are their low correlation with traditional asset classes, as well as their potential for capital preservation and income generation. Alts that come in ETF wrappers, meanwhile, offer clients access to sophisticated strategies with typically lower fees, intraday liquidity and a tax-friendly structure. In the end, advisors who incorporate alternatives into portfolios might help clients reduce their stress while increasing their bottom-line results. Shouts Michael Cronan; Darren Schuringa, CFA; Austin Graff, CFA; James Pacetti; Larry Swedroe; Trish Twining; Rajesh Jain; Paul Henneman; 'Geoff Hampson'

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𝗠𝗶𝗮𝗺𝗶 𝗗𝗼𝗹𝗽𝗵𝗶𝗻𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗩𝗲𝗿𝗴𝗲 𝗼𝗳 𝗣𝗶𝗼𝗻𝗲𝗲𝗿𝗶𝗻𝗴 𝗣𝗘 𝗗𝗲𝗮𝗹 𝗶𝗻 𝘁𝗵𝗲 𝗡𝗙𝗟 🏈 The Miami Dolphins could become the first team to benefit from the NFL's recent regulation change on team ownership. Owner Stephen Ross is in talks with private equity giant, Ares Management Corporation, and Joe Tsai, co-founder of Alibaba, to sell a 10% and 3% stake, respectively. This would value the Dolphins and related assets at over US$8.1 billion. Sources familiar with the transaction suggest that Ares’ and Tsai’s investments would include assets such as the Hard Rock Stadium, home of the Dolphins, and F1 Miami Grand Prix. While negotiations are still ongoing, the deal may be approved at the owners' meeting in December. As a lifelong Dolphins fan, it’s exciting to see what this potential deal could mean for the organization. It’s not just about financial growth—it’s about elevating the Dolphins' legacy, enhancing fan experiences, and driving innovation in sports and entertainment. Sources: Bloomberg ; Randall Williams 📷 : Miami Dolphins and Hard Rock Stadium

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Erich Gerth has some advice for the growing list of asset management bosses currently striking M&A deals to bolster their alternatives credentials: don’t lose sight of your culture. “Traditional firms are trying to get into the alternatives space because they see buyer preferences changing, and alternative shops want to move into wealth management,” says the chief executive of RBC BlueBay Asset Management. “Both will have challenges. Culturally, alternative firms have been set up differently to traditional asset managers. It’s one thing to buy a manager, it’s another to integrate it.” Gerth knows a thing or two about completing a landmark M&A deal, after fixed income specialist BlueBay was acquired by Canadian banking group RBC in 2010 for $1.5bn. “For smaller firms, that’s a big cost --increased costs of doing business and the pace of regulatory change -- it gets tougher if you don’t have scale,” he says. “When BlueBay was standalone, as CEO I was looking at all these things and thinking we need scale. If you don’t have scale, you are running faster and faster to stay still and those headwinds are accelerating.” For Gerth, culture is a critical element to maintaining staff loyalty and a sense of belonging. In particular, he is focused on fostering a “growth mindset” across the organisation — or as he puts it “decriminalising mistakes”. This gives employees more confidence to try new things without fear it will jeopardise their careers, he says.

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A great primer on the role of alternative credit in insurance.

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Thrilled to announce a game-changing partnership between Alphathena and ETF.com! 🚀📊 As an Alphathena team member, I'm incredibly excited about the potential this collaboration unlocks for financial advisors and their clients. Here's why this matters: - Democratizing Direct Indexing: Making sophisticated investment strategies accessible to a broader range of investors. - Enhanced Education: ETF.com users can now access Alphathena's expertise on replicating ETFs more tax-efficiently through direct indexing. - Seamless Integration: Advisors can transition smoothly from ETF research to implementing personalized direct indexing strategies. - Empowering Advisors: Combining cutting-edge technology with comprehensive educational resources to deliver superior client outcomes. - Industry Innovation: Leading the shift towards more personalized, tax-efficient investment solutions. Our co-founders, Tushad Driver and Mohan Naidu, envisioned Alphathena as a solution to help advisors leverage personalization strategies like direct indexing. This partnership with ETF.com is a significant step towards realizing that vision. Proud to be part of a team revolutionizing investment management. Here's to making direct indexing more accessible and understood! Read more about this exciting partnership: https://lnkd.in/gxHu3A6U? #DirectIndexing #FinTech #InvestmentManagement #FinancialAdvisors #AlphathenaPartnerships

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I'm excited to share my first in-depth research piece, created in collaboration with Abhishek Gupta, CFA, since joining MSCI's Americas Equity Solutions Research team. In this report, we delve into the importance of understanding how companies generate revenue and allocate capital to make informed investment decisions. Are multi-industry firms more concentrated in certain regions or sectors? How do a firm's fundamental characteristics change with the extent of its revenue diversification across industries? How have multi-industry firms performed relative to single-industry firms? These are some of the questions we explore using the decomposition of company operations through MSCI's Business Segment Data.

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Delighted to be back on Bloomberg this week for another wide-ranging interview with Joumanna Bercetche. This was after JOLTS and before Payrolls (and at 5am! (which might explain the spotty audio)) but the points I made remain valid: *Stop Dreaming of the Quiet Life*: Markets will remain volatile, with large moves in response to individual data points as data has become less reliable, surveys less representative and increased and contradictory revisions. Seasonal adjustments are also less valid post-Covid. Central banks remaining highly data dependent means markets will continue to overreact to individual data points. *Soft Landing Base Case*: We are still (confirmed post Payrolls) in the "soft landing" camp, believing that inflation will return to target and unemployment will not spike. We think (hope?) the Fed has the right approach with a couple more 25 basis point hikes followed by a 50 basis point move in December. *Yen and carry trades*: The large moves in the Yen seen earlier this year are unlikely to be repeated, as real money investors are now long the Yen while leveraged positions have been flattened. The focus has shifted to the Swiss Franc as the new carry trade funding currency. *Currencies and central bank easing*: The direction of currencies, and essentially the USD, will depend not just on the magnitude of rate cuts, but also on other factors like geopolitical risk and the strength of the US economy. The dollar has multiple supports to potentially offset any rate cuts.

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As the world transitions towards a more sustainable and equitable future, thematic bonds are emerging as instruments that provide both financial returns and positive societal impact. In this latest commentary, we share our thinking and ESG integration approach for this market, balancing potential and caution. #ResponsibleInvesting #ThematicBonds #GreenBonds  #ImpactInvesting   🌏💚

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Private credit vs Public credit , what does the volatile market as such entails for the capital market to gauge? Quite an insightful interview highlighting quite a key points wrt to fixed income securities , investment grades and equities.

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Have you ever wondered how Goldman Sachs Investment Banking has managed to remain at the top of the M&A league tables nearly every year for the last quarter century? Wonder no more. Business Insider takes you inside (see what I did there?) our M&A franchise with some of our most senior banking partners. They share how our client centricity, drive to win and culture of teamwork and collaboration manifest into an enduring, battle-tested and world-class M&A practice. https://lnkd.in/e_Mrnxp3

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Exciting news from Verisk Maplecroft! We've just launched AREA (Asset Risk Exposure Analytics), our first dedicated solution for equities and corporate debt, designed for investors and banks. AREA offers a comprehensive view of corporate exposure to global climate, environmental, human rights, and political risks by assessing location-specific risks for over 50,000 publicly traded companies. With AREA, portfolio managers can systematically assess political, human rights, climate, and environmental risks at the asset level—details often missing from traditional sustainability data, making AREA a game-changer for risk analysis, portfolio construction, and strategic investment decisions. Curious to learn more? Click the link below to stay ahead in detecting hidden vulnerabilities, identifying strengths and opportunities, and enhancing resilience.

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Blackstone is taking a controlling stake in Jersey Mike’s Subs, valuing the fast-casual chain at $8 billion. Founder and CEO Peter Cancro will stay on, retaining a significant equity stake and continuing to lead the brand. This move taps into the fast-casual boom, with the market projected to grow by $302.5B by 2028. Blackstone plans to fuel Jersey Mike’s global expansion and invest in technology to enhance operations and customer experience. This deal reflects a growing private equity trend: targeting premium, scalable franchise businesses that align with consumer shifts and offer strong growth potential. Private equity is leaning into franchise growth. It'll be interesting to see what this means for the future of food and beverage investments.

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With Intelligence has announced the strategic acquisition of Sutton Place Strategies, by Bain & Company, an award-winning global deal data and analytics provider for PE and M&A professionals. It is a critical time for M&A data in the private equity industry. Dealmaking remains subdued, in part, due to buyers and sellers not seeing eye-to-eye on valuations. However, with over $1tn of buyout dry powder sitting on the sidelines, and more than $3tn of unrealized value on the balance sheet of private equity firms, an uptick in M&A is in the interest of both buyers & sellers. SPS unifies the fragmented deal-sourcing environment and equips firms with full transparency into the deals most relevant to their investment strategy. Looking forward to working with the SPS team, seeing the company expand into Europe, and watching the continuing evolution of our private markets offering. More info. here:  https://lnkd.in/epkwvyQd #privateequity #withintelligence #dealsourcing #alternativeassets #alternativeinvestments

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Six takeaways from Ethic Nature's latest insight: • Inflation isn’t just economic; it’s environmental. Rising food prices are driven in large part by climate change and ecosystem degradation, not just policy decisions. • U.S. reliance on Latin America for fresh produce is growing. Yet, the region faces severe soil erosion and climate challenges, threatening its agricultural output. • Regenerative agriculture offers some valuable solutions. By restoring soil health, sequestering carbon, and promoting biodiversity, we can create resilient food systems. • Healthier soils = Healthier food. Regenerative practices lead to nutrient-rich produce, helping to stabilize both prices and food security. • We need to broaden the conversation. Recognizing the link between food inflation, climate change, and sustainable farming is crucial for future investment and policy decisions. • The time for action is now. Sustainable practices like regenerative agriculture are key to addressing the intertwined challenges of food inflation and environmental health. 🌍🌱 #FoodInflation #ClimateChange #Sustainability #RegenerativeAgriculture #EnvironmentalHealth #Naturebasedsolutions

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This is the best summary / decision tree for #directindexing, I've ever seen. One use case that's missing though, is the correction for concentrated positions, e.g. in the case of stock options of people working for large corporates. Another one is faith-based investing, since most ESG funds are not sufficiently covering that topic - Taber Johnson and Reid J. Steadman can tell you more!

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I had the opportunity to see this presentation live and would strongly recommend it to anyone wrestling with complex excel-based models in Capital Markets. #AnaplanConnect #ConnectedPlanning #CapitalMarkets

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Hedge funds have tended to perform best in periods of higher security-level dispersion, macro volatility, and interest rates. I'm of the view that we have entered one such period today. This piece from my colleagues Alex King, CFA and Adam Berger does an excellent job laying out which periods are best & worst for the asset class.

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The macro economic outlook appears favorable. However, uncertainty and geopolitical risks are present. Read along as Pilar Gomez-Bravo examines how our outlook on the economy and risks are shaping portfolio positioning and where we're finding opportunities. bit.ly/3ApyYNN.

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