Asset Management

Portal DeFi Announces Plans to Integrate Stacks into Portal DEX and Enable Cross-Chain sBTC Trading

Retrieved on: 
Tuesday, April 9, 2024
Finance, Cryptocurrency, Professional Services, Asset Management, Fintech, Wrapped Bitcoin, DEX, EVM, Risk, Human, WBTC, Architecture, ETH, Decentralized finance, BTC, Traction, USDT, SDK

The integration will bring sBTC, a 1:1 Bitcon-backed asset on the Stacks layer that enables smooth movement of BTC from Layer 1 to Layer 2 and back while remaining decentralized, to the Portal DEX Network .

Key Points: 
  • The integration will bring sBTC, a 1:1 Bitcon-backed asset on the Stacks layer that enables smooth movement of BTC from Layer 1 to Layer 2 and back while remaining decentralized, to the Portal DEX Network .
  • The release of sBTC and its subsequent support in the Portal DEX Network will take place in the months following the Nakamoto rollout this year.
  • “Our integration with Portal will provide exciting cross-chain interoperability for builders,” said Andre Serrano, sBTC go-to-market resident at the Stacks Foundation.
  • “With sBTC set to join the Portal DEX Network, users will experience seamless, trust-minimized swaps between Bitcoin layers and beyond.

GeoVera Announces Combination of Its Insurance Carriers with SafePort Insurance Company to Create GeoVera Nova Holdings; Will Simultaneously Sell MGA to SageSure

Retrieved on: 
Tuesday, April 9, 2024
Professional Services, Residential Building & Real Estate, Insurance, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, AXA, Growth, CFO, Partnership, LLP, Nasrin, Kirkland & Ellis, MGA, Reinsurance

GeoVera Insurance Holdings, Ltd. (“GeoVera”), a leading provider of specialty property insurance, today announced that it has entered into a definitive agreement to sell its insurance carriers and managing general agent (“MGA”) businesses.

Key Points: 
  • GeoVera Insurance Holdings, Ltd. (“GeoVera”), a leading provider of specialty property insurance, today announced that it has entered into a definitive agreement to sell its insurance carriers and managing general agent (“MGA”) businesses.
  • Upon completion of the transactions, a newly formed entity, GeoVera Nova Holdings, Inc. (“GeoVera Nova”), will control four insurance operating subsidiaries: GeoVera Insurance Company, GeoVera Specialty Insurance Company, Coastal Select Insurance Company, and SafePort Insurance Company (“SafePort”), a property-focused insurance carrier.
  • Additionally, the MGA operations of GeoVera will be acquired by SageSure, one of the largest independent MGAs focused on catastrophe-exposed markets, and GeoVera Nova will become a carrier partner of SageSure.
  • John Forney and Brian Sheekey, currently CEO and CFO, respectively, of GeoVera, will continue in the same roles at GeoVera Nova.

Victory Capital Reports March 2024 Total Client Assets

Retrieved on: 
Tuesday, April 9, 2024
Asset Management, Professional Services, Finance, Management, VIP, Form, Webcast, Asset, Conference, AUM, ETF, Table, Security (finance)

2Total AUM includes both discretionary assets under management and non-discretionary assets under advisement and excludes Other Assets.

Key Points: 
  • 2Total AUM includes both discretionary assets under management and non-discretionary assets under advisement and excludes Other Assets.
  • 5Represents only ETF assets held by third parties and excludes ETF assets held by other Victory Capital products.
  • These assets are included as part of Victory’s Regulatory Assets Under Management reported in Form ADV Part 1.
  • Victory Capital will report first-quarter 2024 financial results after the market closes on Thursday, May 9, 2024.

IG North America Doubles Down on Commitment to Chicago with New tastytrade Office Space, New tastylive Studios, and $600,000 Partnership with Greenwood Project

Retrieved on: 
Tuesday, April 9, 2024
Technology, Finance, Fintech, Professional Services, Software, DEI (Diversity, Equity and Inclusion), Socially Responsible Investing, Cryptocurrency, Asset Management, University, Learning, IG Group, Partnership, Thinkorswim, Knowledge, Fulton Fish Market, Management

IG US Holdings, Inc. (“IG North America”) proudly announces its new headquarters in the Fulton Market district in downtown Chicago.

Key Points: 
  • IG US Holdings, Inc. (“IG North America”) proudly announces its new headquarters in the Fulton Market district in downtown Chicago.
  • To mark the brokerage firm’s commitment to Chicago, tastytrade will make a $600,000 investment in Greenwood Project, a non-profit organization dedicated to propelling Black and Latino college students into high-trajectory careers in financial services.
  • Tastylive and tastytrade, subsidiaries of IG North America, were created in Chicago by the co-founders of thinkorswim, Tom Sosnoff and Scott Sheridan, and acquired by UK-headquartered IG Group for $1 billion in 2021.
  • This strategic partnership between tastytrade and Greenwood Project signifies a shared commitment to driving positive change and creating pathways to success for underrepresented communities in the financial services industry.

Littlejohn & Co. Adds Transportation and Logistics Expert Farrukh Bezar as Operating Advisor

Retrieved on: 
Tuesday, April 9, 2024
Asset Management, Professional Services, Finance, CSX Corporation, Growth, Transport, STG, Senior, MBA, Northwestern University, CSX, Littlejohn & Co., Marketing, Chase Bank, Management

Littlejohn & Co., LLC (“Littlejohn”), a private investment firm based in Greenwich, CT, today announced that Farrukh Bezar has joined the firm as an Operating Advisor.

Key Points: 
  • Littlejohn & Co., LLC (“Littlejohn”), a private investment firm based in Greenwich, CT, today announced that Farrukh Bezar has joined the firm as an Operating Advisor.
  • In this role, Mr. Bezar will work closely with Littlejohn’s transportation and logistics team to identify attractive investment opportunities and support our logistics portfolio companies as they refine their go-to-market strategies, drive growth, and improve profitability.
  • His previous experience includes senior leadership roles within the transportation and logistics functions at Clarendon, Booz Allen Hamilton, and A.T. Kearney.
  • He currently serves on the boards of Littlejohn portfolio company, Magnate Worldwide, as well as STG and the Northwestern Transportation Advisory Board.

OpenGate Capital Partners With Ownership Works

Retrieved on: 
Tuesday, April 9, 2024
Other Philanthropy, Human Resources, Finance, Asset Management, Consulting, Small Business, Professional Services, Philanthropy, Partnership, Culture, Organization, Investment, Andrew Nikou, Partner (business rank), Security (finance)

OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has partnered with Ownership Works , a nonprofit organization that works with companies and investors to provide all employees with the opportunity to build wealth at work.

Key Points: 
  • OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has partnered with Ownership Works , a nonprofit organization that works with companies and investors to provide all employees with the opportunity to build wealth at work.
  • Founded in 2021, Ownership Works helps organizations implement broad-based employee ownership programs that can unlock new levels of success for businesses and create meaningful wealth-building opportunities for employees.
  • Armed with tools, practical models, and hands-on guidance, Ownership Works assists companies in structuring shared ownership programs to boost culture, enhance company performance, and improve employees' financial wellbeing.
  • OpenGate is proud to be part of Ownership Works' consortium of foundations, corporations, labor advocates, investors, pension funds, and other leading private equity organizations.

Brighthouse Financial Appoints Michael J. Inserra and Lizabeth H. Zlatkus to Board of Directors

Retrieved on: 
Tuesday, April 9, 2024
Professional Services, Other Professional Services, Insurance, Finance, Asset Management, Personal Finance, Brighthouse Financial, Indivior, Inserra Supermarkets, Risk management, Ernst & Young, The Hartford, EY, Audit committee, Lisabeth, Moore Capital Management, Retirement, Management

Brighthouse Financial, Inc. (“Brighthouse Financial” or the “Company”) (Nasdaq: BHF) announced that today its Board of Directors (the “Board”) appointed Michael J.

Key Points: 
  • Brighthouse Financial, Inc. (“Brighthouse Financial” or the “Company”) (Nasdaq: BHF) announced that today its Board of Directors (the “Board”) appointed Michael J.
  • (“Mike”) Inserra and Lizabeth H. Zlatkus as independent members of the Board.
  • Mr. Inserra and Ms. Zlatkus were also each designated by the Board as an “audit committee financial expert” under applicable U.S. Securities and Exchange Commission rules and appointed to serve on the Audit Committee.
  • “Mike and Lizabeth each bring valuable experience in the insurance and financial services industries, along with strong leadership skills, financial expertise and deep knowledge of operations and risk management,” said C. Edward (“Chuck”) Chaplin, chairman of the Board, Brighthouse Financial.

Tony Florence and Mohamad Makhzoumi Named Co-CEOs of NEA; Scott Sandell Assumes Role of Executive Chairman & CIO

Retrieved on: 
Tuesday, April 9, 2024
Finance, Consulting, Banking, Professional Services, Asset Management, CIO, Growth, Executive, VGE, NEA, Sandell, Multimedia, Management

In conjunction with their appointments, Scott Sandell will assume the full-time role of Executive Chairman and Chief Investing Officer.

Key Points: 
  • In conjunction with their appointments, Scott Sandell will assume the full-time role of Executive Chairman and Chief Investing Officer.
  • All three will continue to actively invest, with Sandell’s new role also signifying an enhanced day-to-day focus on company building and team mentorship.
  • View the full release here: https://www.businesswire.com/news/home/20240409483634/en/
    Tony Florence and Mohamad Makhzoumi Named Co-CEOs of NEA; Scott Sandell Assumes Role of Executive Chairman & CIO.
  • (Photo: Business Wire)
    “Tony and Mohamad are exceptional leaders who have been shaping key aspects of NEA’s strategy and operations for many years.

Virtus Investment Partners Reports Preliminary March 31, 2024 Assets Under Management

Retrieved on: 
Tuesday, April 9, 2024
Asset Management, Professional Services, Finance, Virtus Investment Partners

Virtus Investment Partners, Inc. (NYSE: VRTS) today reported preliminary assets under management of $179.3 billion as of March 31, 2024.

Key Points: 
  • Virtus Investment Partners, Inc. (NYSE: VRTS) today reported preliminary assets under management of $179.3 billion as of March 31, 2024.
  • The increase from December 31, 2023 primarily reflects market performance and net inflows in retail separate accounts, partially offset by net outflows in institutional accounts and open-end funds.
  • In addition, the company provided services to $2.7 billion of other fee-earning assets, which are not included in assets under management.