Monday, December 23

Tag: Investment Trusts

PGA Tour, Saudi Deadline Passes With No Deal—but Talks Will Continue
1Jan By adminNo Comments
World

PGA Tour, Saudi Deadline Passes With No Deal—but Talks Will Continue

The stunning agreement last June between the PGA Tour and LIV Golf’s Saudi backers came with a deadline to hammer out a deal: the end of 2023. As New Year’s Eve came and went without a pact, the sides now say they are poised to continue negotiations into 2024. In a memo to players Sunday, PGA Tour commissioner Jay Monahan wrote that the goal remains to strike a finalized agreement—but it hasn’t happened yet. Instead, he said, there are “active and productive conversations” with Saudi Arabia’s Public Investment Fund and they are “working to extend our negotiations into next year based on the progress we have made to date.”Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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A Real-Estate Juggernaut Ran Off the Rails in 2023
1Jan By adminNo Comments
World

A Real-Estate Juggernaut Ran Off the Rails in 2023

From 2019 to 2022, a new type of real-estate fund became one of the hottest fundraising juggernauts on Wall Street by giving individual investors the chance to participate in soaring values of apartment buildings, warehouses and other types of commercial property.Last year, those funds, known as nontraded real-estate investment trusts, ran off the rails. As concerns increased about the troubled commercial-property market, fundraising plummeted by the funds’ sponsors, many of them giant investment firms such as Blackstone and Starwood Capital Group.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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More Americans Than Ever Own Stocks
18Dec By adminNo Comments
World

More Americans Than Ever Own Stocks

Listen to article(2 minutes)The share of Americans who own stocks has never been so high.About 58% of U.S. households owned stocks in 2022, according to the Federal Reserve’s survey of consumer finances released this fall. That is up from 53% in 2019 and marks the highest household stock-ownership rate recorded in the triennial survey. The cohort includes families holding individual shares directly and those owning stocks indirectly through funds, retirement accounts or other managed accounts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Property Crash Draws Short-Sellers. Better Late Than Never.
14Dec By adminNo Comments
Money

Property Crash Draws Short-Sellers. Better Late Than Never.

With interest rate cuts looking more likely, now isn’t an obvious time to make bearish bets on real estate. Luckily for short sellers, the Fed probably won’t move fast enough to wreck their favorite new trade.Mortgage real-estate investment trusts, which offer bridging loans to commercial property owners, have caught the eye of short sellers. Carson Block’s Muddy Waters hedge fund announced a stake in blue chip Blackstone Mortgage Trust last week. Viceroy Research, the fund that previously bet against troubled real-estate stocks SBB and Adler Group, went public with a position in Arbor Realty Trust in mid-November.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Blackstone, Digital Realty Team Up to Develop $7 Billion in Data Centers
7Dec By adminNo Comments
World

Blackstone, Digital Realty Team Up to Develop $7 Billion in Data Centers

Investment giant Blackstone and Digital Realty, one of the world’s largest data-center companies, are creating a new venture to develop $7 billion in data centers that will target the largest providers of online content, cloud services and artificial intelligence.The venture plans to develop 10 data centers on four campuses in Frankfurt, Paris and northern Virginia over the next five or six years, the companies said. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Startup Ajax Health Extends Medtech Innovation Model to Hologic
30Nov By adminNo Comments
World

Startup Ajax Health Extends Medtech Innovation Model to Hologic

Nov. 30, 2023 6:01 am ET|WSJ ProStartup Ajax Health’s model for spurring corporate innovation is gaining traction with investors and large medical-technology companies.Menlo Park, Calif.-based Ajax creates turnkey innovation platforms for commercial-stage medtech players, and it has teamed with investment firm KKR and medtech company Hologic to launch Maverix Medical, a startup formed to advance diagnostics and medical devices to treat lung cancer.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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KKR to Buy Remaining Stake in Global Atlantic for $2.7B
29Nov By adminNo Comments
World

KKR to Buy Remaining Stake in Global Atlantic for $2.7B

KKR has moved to buy the outstanding stake in doesn’t already own in insurance company Global Atlantic for about $2.7 billion in cash.The private-equity firm said it will pick up the 37% interest in Global Atlantic as it looks to develop a closer collaboration with a company that has been a key element in KKR’s growing real-estate credit and asset-based financing businesses.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Ferrovial to Sell Stake in London’s Heathrow Airport
29Nov By adminNo Comments
World

Ferrovial to Sell Stake in London’s Heathrow Airport

Ferrovial is to sell its stake in London’s Heathrow Airport after striking a deal with a French private-equity group and Saudi Arabia’s sovereign wealth fund.The Spanish construction company said late on Tuesday that Ardian and Saudi Arabia’s Public Investment Fund would pay 2.37 billion pounds ($3.01 billion) to acquire its 25% stake in FGP Topco, the parent company of Heathrow Airport Holdings.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Elliott Renews Push for Change at Big Wireless-Tower Owner
27Nov By adminNo Comments
World

Elliott Renews Push for Change at Big Wireless-Tower Owner

Elliott Investment Management plans to push for changes at Crown Castle International after the activist failed to gain traction when it first took a stake in the big owner of wireless towers.Elliott has amassed a stake of more than $2 billion in Crown Castle, which has a market value of nearly $45 billion, and plans to engage with the company about ways to boost its shares, according to people familiar with the matter.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Walmart Earnings, Low Fuel Prices Drag on Stocks
18Nov By adminNo Comments
Money

Walmart Earnings, Low Fuel Prices Drag on Stocks

Earnings selloffs in Cisco Systems and Walmart pulled down the Dow. But the broader market narrowly overcame those drags as well as tumbling energy shares to keep the November rally going.The S&P 500 added 0.1%. The tech-oriented Nasdaq Composite eked out a smaller gain than that and is now up 9.8% this month. The Dow Jones Industrial Average shed about 0.1%, or 46 points.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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