Vikas Shah

Great roundtable from Citywire on evergreen funds, alternatives and discretionary portfolio, even the topic on the word "democratization" summed up so well by Vai Rajan, CFA Rajan. Although the move into private markets in the wealth market has so far been mostly in advisory mandates, there is growing interest to include them in discretionary portfolios. In a roundtable hosted by Citywire, the heads of wealth from alternative asset managers discussed how getting evergreen funds into discretionary portfolios will be increasingly important as alternatives turn into a mainstream asset class. Fantastic to listen to all of these minds in one place.

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Compliance tech is powerful. This one seems to me to be even more powerful. The notion of creating compliance agents (and more generally, supporting agents) is one that will become more and more familiar to everybody. Edoardo Ginevra Aurelio Maccario Fabio De Ferrari Luciana Rovelli

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Thanks to Sri and Mandy of CNBC for an opportunity to talk about Asia's export outlook amid apparent weakening in DM's goods demand and rising uncertainties around trade policies in DMs. While we remain positive about global demand, recent trade data in the region seem to signal risks of a potential downturn and highlight need to put trade data on the radar screen. https://lnkd.in/e6qmvQZd

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About 15 years ago, Jim Simons was driving to Boston to give a speech at his alma mater, MIT. He had retired a year before. He was 72 years old. He was, at the time, the most successful hedge fund manager of all time. His wife asked if he was going to mention any guiding principles that made him successful. At first, he thought, “I don’t know that I have any.” Upon reflection, he wrote down five that are both pithy and profound. -Don’t Run with The Pack -Hire the Smartest People -Don’t Give Up Easily -Be Guided by Beauty -Hope For Good Luck! Simons arrived at his list organically after building his business. It doesn’t feel artificial. It’s not derived from some acronym. It reflects what worked for him over the course of a remarkable life. Simons died yesterday at the age of 86. His career consisted of following one passion to the next, ten-year building blocks stacked one on the other. After Simons graduated with his PhD, he worked as a code breaker for the government during the Cold War. He was fired for opposing the Vietnam War. Next, he spent a decade running the math department at Stony Brook University. At about 40, his life took a serious turn. Simmons became so interested in markets and convinced he could build a better system that he quit his prestigious job to trade stocks in an office over a strip mall. DON’T RUN WITH THE PACK Having never worked in the financial industry, he proceeded to hire a group of physicists and astronomers to build something new, a quant trading firm. HIRE THE SMARTEST PEOPLE He spent 10 years building a platform based on data that didn’t work until all of a sudden it did. It became a flywheel that minted money. DON’T GIVE UP EASILY He built the most successful financial firm in history without hiring anyone from Wall Street. He regarded doing something well as a form of art.  BE GUIDED BY BEAUTY The Medallion Fund, launched in 1988, went on to return 66% a year and generate more than $100 billion in trading profits. HOPE FOR GOOD LUCK He was never celebrity famous like Warren Buffet. He didn’t tweet principles like Ray Dalio. He didn’t buy a sports team like Steve Cohen. He was well known for his habit of not wearing socks and chain-smoking cigarettes. Simons’ success lay in combining his mathematical prowess and insights with a passion to build and inspire teams of people. In the MIT speech, he lays out his recipe: “Great people. Great infrastructure. Open environment. Get everyone compensated roughly based on the overall performance… That made a lot of money.” Gregory Zuckerman wrote the definitive book on Simons called The Man Who Solved the Market. Simons didn’t want it written. Later, he said it is “pretty good.” Ironically, it probably did more than anything to cement his reputation as the world’s best performing hedge fund manager.

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Unlocking the Secrets Behind Asit C. Mehta's Remarkable Rally: Insights from Prasanna Pathak! In the world of investment, every surge carries a story, and Asit C. Mehta's recent rally is no exception. With a staggering rise of over 100% in their PMS scheme, it's time to delve into the factors driving this unprecedented growth. Director Prasanna Pathak sheds light on the strategies and insights fueling this remarkable ascent. Join me as we explore the market dynamics, strategic maneuvers, and visionary foresight that have propelled Asit C. Mehta's PMS scheme to new heights. In a landscape defined by volatility and uncertainty, understanding success stories like this is paramount. Let's unravel the intricacies together and glean valuable lessons for navigating the ever-evolving financial markets. Read more about the journey here in the article. Pantomath Financial Services Group Pantomath Capital Advisors Private Limited Asit Mehta Madhu Lunawat Mahavir Lunawat Deena Mehta Asit Mehta Prasanna Pathak #InvestmentInsights #FinancialMarkets #SuccessStory #AsitCMehta #PMS #Rally #Equity #StockMarket

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I recently had the opportunity to chat with the The Wall Street Journal’s Mark Maurer to discuss the current level of goodwill impairments and how interest rate increases since March 2022 are still having after-effects on company earnings. I also shared some of the Kroll data from our upcoming U.S. Goodwill Impairment Study. The prospect of higher-for-longer interest rates means more impairments could be on the horizon. Interesting to see what the next inflation reports will tell us about the Federal Reserve Board's outlook on interest rate cuts. Thank you Mark for another great discussion! #Valuations #Goodwill #Impairment #CostOfCapital #Fed #inflation

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Great listen.. I look forward to the class in December. E S.L. ego, speed & leverage will kill you Structure Structure Structure The takeaways are Gold 🥇 Thanks again Ted Seides and Rahul Moodgal for doing what you do ... DM to join a group of global LPs for insights. Fund Managers, explore www.clearglasscap.com for more. #investmentbanking #alternativeinvestments #raisingcapital #innovation #venturecapital #privateequity

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Fast Data , the newly rebranded powerhouse in consumer finance, is thrilled to announce a transformative leap forward following our successful acquisition! Formerly known as Fast Debt, we are now poised to revolutionize the industry with our enhanced offerings of precise consumer finance insights, advanced data analysis, prequalification tools, and an integrated marketplace, all delivered with our signature speed. This exciting evolution, nearly 1.5 years in the making, significantly amplifies our capability to empower clients across the consumer finance landscape, optimizing their results and elevating consumer experiences like never before. While Fast Data gives us the ability to expand our service offerings, Fast Debt will be returning to its roots as a direct to consumer solution provider. "We are incredibly proud and honored to unveil Fast Data," said Cyrus, CEO. "This rebranding and acquisition represent a monumental shift in our ability to help our partners grow and achieve their goals with unprecedented speed and accuracy." Fast Data’s mission remains consumer-first, ensuring that applicants receive the most accurate and immediate decisions for their needs. We want to thank our existing integrated partners Phonexa , Retreaver , and TrackDrive to ensure that consumers are paired with the right products from the start. Kyle Hendershot Chief Product Officer of Fast Data, emphasized, "With this acquisition, we’re delivering innovative tools that will completely redefine how our clients approach consumer finance. It’s all about empowering them with real-time data-driven insights. The age of guessing is quickly coming to a close." Jeremy Uziel Chief Technology Officer, added, "The infrastructure we’ve built is secure, fast, and scalable. I’m excited to see how this new platform will set the standard for marketing technology." As Fast Data continues to build on its reputation as a leader in the consumer finance space, the company invites businesses to explore its expanded capabilities and see the new platform in action. To learn more about how Fast Data is transforming consumer finance, or to schedule a personalized demo, visit http://www.fastdata.com.

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Moelis proudly acts as Financial Advisor to Aster DM Healthcare, one of India’s largest and fastest-growing integrated healthcare providers, on its ~$5 billion merger with Quality Care India, a hospitals platform owned by Blackstone and TPG. #DealAdvisory Press release: https://bit.ly/4fTyyP9

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$AAPL held prior highs and has pulled back in a 3-wave corrective move ahead of earnings. This pattern does not look like the start of a larger decline for AAPL & makes this attractive at/near 221-223. While the breadth and momentum of the broader tape warrants short-term concern for November, this won't be as easy as many Bears believe with a few key Tech earnings to finish out the week. My short-term cycle suggests a turn 10/31-11/1 which very well could be a low Regardless, this stock remains one (if not the) most important stocks within $SPX to keep a close eye on given its concentration within SPX, QQQ and Tech. The Equal-weighted SPX decline does not likely lead to SPX breaking down just yet. @IBDinvestors @marketsurge

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The work of our coalition, Founders for Kamala, is crucial in this election cycle, and I’m grateful that Jon Chesto at Boston Globe Media has recognized our efforts in today's article, highlighting the power of grassroots movements and the need for diverse voices in shaping our political landscape. While the piece focuses on my role in launching the initiative, this is truly a collective effort—our incredible co-chairs and co-founders stepped up immediately to lead the group, and we have nearly 900 signatories and 270 volunteers from across the U.S. and abroad, showcasing the national affiliation with our message.   As a woman in business, I’ve navigated different expectations and rules compared to my male counterparts throughout my career. We see this dynamic playing out in our presidential race to an extreme degree. As The Economist noted, "If Trump were to win election, Americans would be gambling with the economy, the rule of law, and international peace... Harris's shortcomings, by contrast, are ordinary. And none of them are disqualifying." This disparity highlights that they aren't undergoing the same interview process. Van Jones said it best: "He gets to be lawless; she has to be flawless."   Our voices as entrepreneurs are often stifled by fear—fear of being targeted, fear of losing revenue, and fear of jeopardizing our businesses. The stakes are incredibly high, particularly for the women, minority, and immigrant founders in our group, whose lives could be irrevocably altered depending on the election's outcome. Despite the challenges we face, including personal attacks and backlash against our businesses, our group has steadily grown, collaborating with more than 30 other coalitions for compounded impact. We have volunteered more than 7,000 hours and engaged in over 60 events and activations along with social campaigns, creating a robust platform for dialogue and action. Many of us met through this initiative, and our collective activism has turned strangers from all political ideologies into neighbors. Each day, we rise to advocate for Kamala Harris, knowing that our fundamental rights and our livelihoods hang in the balance.   As we approach the election, I urge everyone to make your voice heard—get out and vote! Your participation is vital for the future we want to create.   👉 Read the article here: https://lnkd.in/eSEDEhG4   #Vote #CivicEngagement #WomenInBusiness #Entrepreneurship #PutAWomanOnIt #SmallBusiness #Founders #GetOutTheVote #Democracy

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Blue Owl Capital is acquiring Atalaya Capital Management, an alternative credit manager, for $450 million. This strategic move will enhance Blue Owl's credit and asset-based finance capabilities, adding over $10 billion in assets under management. Atalaya focuses on asset-based credit investments across various sectors and manages over $10 billion in assets. Post-acquisition, most of Atalaya’s 115 employees, including founder Ivan Zinn, will join Blue Owl. Zinn will lead the alternative credit segment under Craig Packer. The deal includes $350 million in Blue Owl equity and $100 million in cash, with an additional potential earnout of up to $350 million in equity, contingent on future revenue targets. This acquisition reflects a growing trend of consolidation in the alternative credit space. Blue Owl's expansion into asset-based finance signifies increasing demand for versatile and specialised credit offerings.

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Investors lose $221 million in U.S. bank failure.    Yesterday, Friday April 25th, 2024, shares of Republic First Bancorp fell 60%.  The market capitalization was less than $1 million. It had started the year with a market-cap of $221 million. It was already a “problem institution” at that time. Yesterday, U.S. regulators seized Republic First Bancorp.   Insured Depositors will not lose any money thanks to the FDIC insurance of $250’000 per depositor.   They estimated the failure will cost the Federal Deposit Insurance Corporation (FDIC) around $667 million. The bank and its depositors will be taken over by another bank, called Fulton Bank. The total assets of Republic were around $6 billion so it’s costing the FDIC around 10% of the bank’s assets.   How safe is your FDIC insured Deposit? The Federal Deposit Insurance Corporation (FDIC) was created in 1933 to assure Americans that insured deposits in insured banks are safe.  Since FDIC insurance began in 1934, no depositor has lost a single penny of insured funds due to bank failure.   To meet its guarantees to investors the FDIC holds a Deposit Insurance Fund (DIF).  As of December 31st, 2023, the DIF held $121.8 billion. Republic’s failure will make but a small dent in the DIF.   The total amount of insured deposits across all banks amounted to $10.62 trillion on December 31st 2023. The DIF is thus big enough to cover 1.15% of these deposits.   How many more banks are at risk?     On December 31st, 2023, there were 52 Institutions described by the FDIC as “Problem Institutions”. Collectively they held assets of $66 billion.    In conclusion, with total assets of $121.8 billion, that’s not a problem for the FDIC unless things get a lot worse.

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🚀 How do serial acquirers realize synergies post-acquisition?  In my recent interview with Alex Prokofjev, CFA, founder of RollUpEurope, we explored the strategies that serial acquirers use not just to buy companies, but to effectively manage them post-acquisition to unlock value and synergies. What happens after the acquisition? Do you integrate these businesses or keep them within a group? How do you make sure the synergies are realized? Alex shared that while buying smaller companies at a discount is attractive, the real challenge lies in what comes next. For many of these businesses, which are often in the $1 to $5 million revenue range, integration isn't always the immediate goal. Instead, maintaining a flexible approach allows for experimentation with new ideas and strategies that wouldn't be possible in a single, standalone business. When these businesses are part of a larger group, it's easier to test new initiatives without the risk of sinking the entire ship. Investing in innovative ideas becomes more feasible, as the impact of any single failure is minimized in the broader portfolio. For HoldCos, success in scaling comes down to having a clear industry thesis and a smart approach to centralization. Key functions like capital allocation, flawless execution of add-ons, and building a strong culture and hiring standards are essential. The approach to integration can vary; for example, Visma keeps its acquisitions decentralized, while Constellation Software sets centralized standards for things like working capital. Check out the video below to hear Alex's insights on how to balance integration and independence post-acquisition and achieve long-term success in a portfolio strategy. For more insights on serial acquisitions and building growth strategies, be sure to visit RollUpEurope and follow their blog. 📖 Read the full interview here: https://lnkd.in/dQEGv6_J #SerialAcquirers #RollUpEurope #PrivateEquity #MergersAndAcquisitions #TechGrowth #BusinessStrategy #ScaleUp 

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OCIO and solutions fee transparency came up in almost every session at our Chestnut Solutions Institute Member Forum yesterday. Stay tuned for news on new tools we're helping develop to address this issue, and read the FundFire article below for a great snapshot of the current state of play. #OCIO #investmentsolutions #assetmanagement #investmentmanagement #institutionalinvestors #nonprofitinvestors

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Join us on October 15th from 11:00 AM to 12:00 PM ET for an insightful discussion on the evolving relationship between private equity (PE) firms and executive search firms, hosted by Ezekia and supported by Hunt Scanlon Media. In this session, our esteemed panel will share how PE firms are forming strategic partnerships with search firms to create long-term value. Hear from industry experts: -Daniel Hyde, CEO at Erevena -Travis Hann, partner & co-founder at Pender & Howe Executive Search -Evan Sequeira, CFA, executive director at TorQuest Partners -Nick Kingma, portfolio talent at Hg Moderated by Anthony Harling, founding partner at Harlschon, the conversation will explore: how PE firms and search firms collaborate for agility in hiring, why PE firms treat search firms as an extension of their talent networks, and the critical role of talent in driving value beyond financial metrics. This is a must-attend for professionals in PE, executive search, and talent management. Don’t miss out on these valuable insights into how PE firms are reshaping their talent strategies! Register here: https://lnkd.in/e_d5t-f8 #privateequity #executivesearch #leadership

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Join us on October 15th from 11:00 AM to 12:00 PM ET for an insightful discussion on the evolving relationship between private equity (PE) firms and executive search firms, hosted by Ezekia and supported by Hunt Scanlon Media. In this session, our esteemed panel will share how PE firms are forming strategic partnerships with search firms to create long-term value. Hear from industry experts: -Daniel Hyde, CEO at Erevena -Travis Hann, partner & co-founder at Pender & Howe Executive Search -Evan Sequeira, CFA, executive director at TorQuest Partners -Nick Kingma, portfolio talent at Hg Moderated by Anthony Harling, founding partner at Harlschon, the conversation will explore: how PE firms and search firms collaborate for agility in hiring, why PE firms treat search firms as an extension of their talent networks, and the critical role of talent in driving value beyond financial metrics. This is a must-attend for professionals in PE, executive search, and talent management. Don’t miss out on these valuable insights into how PE firms are reshaping their talent strategies! Register here: https://lnkd.in/e_d5t-f8 #privateequity #executivesearch #leadership

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I am happy to share my recent interview with Deborshi Chaki at moneycontrol.com, where I discussed the implications of falling global interest rates on investments in Indian infrastructure. As we navigate through these changing economic landscapes, it's clear that lower interest rates can open new avenues for global funds to invest in our burgeoning infrastructure sector. This presents a significant opportunity for growth and development in India.   At Rothschild & Co, we see India as central to our future growth strategy. We are expanding our equity capital markets and debt advisory services to capitalize on the booming deal-making environment in India. We are focusing on sectors such as infrastructure, renewable energy and technology, where we see significant M&A activity driven by both local and global players.   #Investment #Infrastructure #India #GlobalEconomy #GlobalAdvisroy   https://lnkd.in/dYTv6tfb

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Last week, we celebrated a major milestone with our 3Q24 financial results, the highest Q3 results in our company’s 20-year history. This achievement reflects our ambitious goals, unwavering dedication to industry-leading innovation, and remarkable teamwork within a firm that consistently challenges the status quo to innovate and excel. The past 18 months have been a period of exceptional growth and evolution for our firm. Throughout this journey, one constant has been the passion and inspiration our team demonstrates daily. Reflecting on 1,000s of engagements with my colleagues across the globe, 10 distinct qualities stand out, contributing to building the foundation for our continued success: 1. Purpose matters - as a global liquidity provider, it's evident in everything we do that driving transparency and efficiency in financial markets is at the heart of what we do. 2. Maintaining a visionary mindset - being exposed to constant change in financial markets, we never stopped adopting a truly visionary industry-defining mindset in everything we built. 3. Continuously focused on creating a lasting impact - we never stop until we have created the best solution for our partners that creates a lasting positive impact. 4. Questioning the status quo - we never get tired of challenging ourselves and questioning the status quo around us, thereby seeking constant improvement in everything we do. 5. Staying entrepreneurial - since our inception, we kept our can-do mindset and constantly excite ourselves in acting as the best entrepreneurs. 6. Seeing the bigger picture and the greater good - we never fail in seeing the bigger picture to know what is best to drive ideas to a greater good for all partners. 7. Preserving our unique technology approach - we never stopped preserving our unique DNA in designing, building, and deploying cutting-edge technology to thrive globally. 8. Insanely focused on details - we know what it takes to make ideas work and we have excelled in being insanely focused on every detail where it matters. 9. Maintaining one of the strongest partnership mindsets - we proudly differentiate ourselves by being dedicated to our partners in delivering industry-defining initiatives with the best collective strengths. 10. Thriving through a second to none teamwork culture - we climb the highest mountains by a truly unique culture that brings the brightest and most dedicated minds together to excel as a team. With these qualities, I have no doubt that we will continue our remarkable journey as a global trading firm committed to driving transparency and efficiency in financial markets. I am excited about the opportunities ahead and grateful to be on this journey with a team that consistently demonstrates commitment and dedication to advancing impactful innovation - from ETP adoption over electronification to digitization, we are at the forefront of transformative change. A thank you to your commitment, dedication, and teamwork!

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