The “Death of Retail” narrative doesn’t apply to premium outlets. Aware Super, the A$210 billion ($141B) Australian pension giant, has acquired a 31.3% stake in the European Outlet Mall Venture (EOMV) platform from accounts managed by PIMCO. 🏰 THE PORTFOLIO: 🤝 THE POWER PARTNERSHIP: Aware Super isn’t going it alone. They are stepping into a...
One of the largest forced divestments in energy history is coming to a head this week. With the January 17 US sanctions deadline looming, a high-stakes bidding war has erupted for the global assets of Russia’s Lukoil, valued at roughly $22 billion. 🏁 THE FRONTRUNNERS: Sources indicate three distinct capital pools are competing for the...
A populist proposal has sent a chill through the US financial sector just as earnings season kicks off. Financial stocks sold off sharply on Monday after President-elect Trump called for a temporary 10% cap on credit card interest rates (down from the current ~21% average) starting January 20th to combat cost-of-living pressures. 📉 THE MARKET...
The “picks and shovels” of the institutional crypto market are heading to Wall Street. BitGo, the Palo Alto-based digital asset custodian founded in 2013, has set terms for its IPO, targeting a valuation of up to $1.96 billion. 💰 THE DEAL METRICS: 🏦 THE THESIS: Unlike exchanges that rely on trading volatility, BitGo’s core value...
The geopolitical risk premium is fading, leaving the market to face a bearish physical reality. Oil prices drifted lower on Monday (Brent ~$63, WTI ~$59) as traders assessed the cooling of immediate supply threats in Iran and the imminent return of Venezuelan barrels to the US market. 🇻🇪 THE VENEZUELA PIVOT: Following the ouster of...
The biggest IPO of 2025 is getting a resounding vote of confidence from the Street. Following the expiration of the quiet period, major brokerages have initiated coverage on Medline Industries (MDLN) with largely bullish ratings, betting that the company’s vertically integrated supply chain will continue to drive market share gains. 📈 THE ANALYST CONSENSUS: Shares,...