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1 week ago | 
institutionalinvestor.com | Jonathan Kandell |John Crabb |Michelle Celarier
In their more than six decades, real estate investment trusts have reached far beyond traditional deals and come up with innovative angles on such unlikely businesses as roulette tables and marijuana. In the mid-2010s, Las Vegas casinos like MGM Resorts International sold their real estate to REITs while retaining operation of the casinos themselves. That allowed them to focus on gambling as the REITs enjoyed stable rental income.
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1 month ago | 
institutionalinvestor.com | Jonathan Kandell |James Comtois
Nowadays, the likeliest path to the top job at the biggest alternative asset managers is to demonstrate prescience about a new business sector and turn it into the firm’s most promising activity. Think of Marc Rowan reorienting Apollo Global Management toward insurance, Michael Arougheti building Ares Management into a private credit giant, and Blackstone heir apparent Jonathan Gray raking in record-breaking profits from innovative strategies in real estate.
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2 months ago | 
nytimes.com | Jonathan Kandell
Paul Plishka, an American singer acclaimed for his sonorous, liquid bass tones and near-perfect diction during a career at the Metropolitan Opera that spanned a half-century, died on Monday in Wilmington, N.C. He was 83. His death was confirmed by his wife, Sharon Thomas, who did not cite a cause or specify where in Wilmington he died.
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Oct 21, 2024 | 
institutionalinvestor.com | James Comtois |Michael Thrasher |Jonathan Kandell
Global investors continue to pour the majority of their capital into North American assets, according to new research from WTW’s Thinking Ahead Institute. Results of the institute’s annual survey showed that, of the $128 trillion in assets managed by the world’s 500 largest managers as of Dec. 31, 2023, 60.8 percent of that total AUM ($77.8 trillion) was in North America—an uptick of 15 percent from the year before.
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Oct 16, 2024 | 
institutionalinvestor.com | Michael Thrasher |Jonathan Kandell |Julie Segal
The takeaway from new Morningstar research is unsurprising: In asset management, the biggest firms keep getting bigger. But the research also has insights into some notable differences between the behemoth investment companies, as well as what’s happening at more than 100 smaller firms. “The shape of the asset-management industry is ever morphing. Things happen — perhaps a market event, regulatory development, or new investor preference — and asset managers respond.
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Oct 15, 2024 | 
institutionalinvestor.com | Jonathan Kandell
Blackstone’s Stephen Schwarzman and Brookfield’s Bruce Flatt, chief executives of the two largest alternative asset managers, rarely show up at the same social events. But here they were, halfway across the world, in India’s oil refinery port of Jamnagar to spend a weekend in March attending the prenuptial celebrations of the youngest son and future daughter-in-law of Mukesh Ambani, Asia’s wealthiest magnate. Rihanna belted out a blend of pop, R&B and reggae.
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Oct 9, 2024 | 
nytimes.com | Jonathan Kandell
Ratan Tata, one of India's most powerful and admired magnates, who transformed his family's business conglomerate, the Tata Group, into a multinational corporation with globally recognizable brands, died on Wednesday in Mumbai. He was 86. The Tata Group announced his death in a statement, which did not specify a cause. He had been treated in a critical care unit of a hospital, Reuters reported.
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Sep 28, 2024 | 
nytimes.com | Jonathan Kandell
Antônio Delfim Netto, the Brazilian finance minister who was credited for the high-growth economy known as the "Brazilian miracle" during the early years of the country's 21-year military dictatorship, but then excoriated for the hyperinflation and recession that followed, died on Aug. 12 in São Paulo. He was 96. His death, in a hospital, was announced by his office.
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May 20, 2024 | 
institutionalinvestor.com | Alicia McElhaney |Michelle Celarier |Jonathan Kandell
Tough markets have sparked tension between investment managers and the allocators who supply them capital. With liquidity tough to access on both the buy and sell sides of the market, the delicate relationship between limited and general partners may be more balanced than it used to be — but that doesn’t mean things are easy. “This is a gnarly market,” said NEPC managing director Sarah Samuels. “It’s not one we’ve seen in a long time...
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May 16, 2024 | 
institutionalinvestor.com | Michelle Celarier |Jonathan Kandell |Julie Segal
A single post on X by Roaring Kitty sent GameStop shares soaring this week, and before the mania began to subside, short sellers were down more than $2 billion in the name — a move that fueled short squeezes in meme stocks and likely boosted a handful of hedge funds that were long both GameStop and AMC Entertainment.
