Monte dei Paschi di Siena (MPS) has proposed Alessandro Melzi d’Eril, CEO of fund manager Anima Holding, as the new chief of Mediobanca, following MPS’s takeover last month. The €16B ($19B) stock-and-cash deal faced initial investor skepticism due to the banks’ differing sizes and business models. Melzi d’Eril, 50, succeeds Alberto Nagel, who led Mediobanca...
Billionaire investor Cliff Asness’s AQR Capital Management has delivered robust performance across its flagship funds. These returns outperform broader systematic trend-following hedge funds, which are down on average ~2% YTD, according to Societe Generale indices. AQR’s diversified, multi-strategy approach highlights the potential of combining trend-following, long-short equity, and niche market strategies in navigating complex markets.
Goldman Sachs and the Abu Dhabi Investment Authority (ADIA) have invested in Froneri, the owner of Haagen-Dazs, in a transaction that values the ice cream company at approximately €15 billion ($17.6 billion), including debt. Froneri, a 50:50 joint venture between PAI Partners and Nestlé, will see a subsidiary of ADIA become a significant minority co-investor,...
Global equity funds drew $49.2 billion in net inflows in the week through October 1, marking the strongest demand since November 2024. U.S. equity funds led the surge with $36.4 billion, the largest weekly net purchase in nearly 11 months, while European and Asian funds attracted $7.4 billion and $3.9 billion, respectively. Sectoral flows were...
OpenAI, the creator of ChatGPT, has reached a $500 billion valuation, following a secondary share sale of approximately $6.6 billion by current and former employees. This marks a significant increase from its prior $300 billion valuation, reflecting rapid growth in users and revenue. The transaction involved top-tier investors, including SoftBank, Thrive Capital, Dragoneer Investment Group,...
Brazilian cryptocurrency company OranjeBTC is set to begin trading on the B3 stock exchange next week, marking a new step in the country’s growing crypto adoption. The firm aims to expand its bitcoin treasury and educate investors on the digital asset market through its proprietary learning platform. The company is backed by high-profile investors including...