Music rights investor Concord increased its takeover bid for Hipgnosis Songs Fund Ltd. to $1.51 billion, trumping a rival proposal from Blackstone Inc. Concord has agreed to acquire London-listed Hipgnosis for $1.25 a share, it said in a regulatory filing Wednesday, confirming an earlier Bloomberg News report. That’s up from its previously agreed bid of $1.16 per share. Hipgnosis said its board continues to unanimously recommend shareholders vote in favor of the Concord deal. The revised bid from Nashville-backed Concord, which is backed by Apollo Global Management Inc., is just above Blacksto ..read more

Future Proof, the business-to-business events organizer that broke the mold with its monster gatherings over the past two years, has unveiled plans for its largest and most expansive conference yet. Set to take place in Miami Beach from March 16 to 19 next year, the Future Proof Citywide event is poised to blow up the investment management conference scene in the US, expanding across more than 25 hotels and the iconic South Beach area. The conference will be hosted directly on the beachfront next to Lummus Park, extending from 6th to 10th streets, thanks to special permission from the City of ..read more

For all the debate about Bitcoin being untested and unproven, the jury is not out on the asset class. In fact, the verdict has been returned for over a long, long time, according to Brian Dixon, CEO of Off the Chain Capital. Dixon oversees around $360 million in assets in his SEC-registered RIA/hedge fund, including a sizable position in Bitcoin, which at last check traded at just under $67K a coin, up 51 percent year-to-date, 142 percent in the past year, 1,057 percent in the past 5 years and over 20,300 percent since 2015. Just to remind folks, most financial advisors assess mutual fund ..read more

Alt investment platform and wealth tech provider CAIS has extended its reach across the wealth industry with another significant addition to its network. The leading platform in alternative investments for independent financial advisors has been chosen by Captrust to centralize and enhance the management of their alternative investment offerings. The independent financial advisory firm, managing over $800 billion in client assets, has struck the partnership as it seeks to streamline operations and improve the alternative investing process for their advisors. “We are thrilled to work with CAIS ..read more

A new survey conducted by Linqto, a financial technology investment platform, has highlighted significant gender disparities in investment preferences, particularly in emerging technologies. The survey included more than 2,500 accredited investors from diverse demographic backgrounds, providing a comprehensive snapshot of trends in both traditional and alternative investment sectors. The findings indicate a notable divergence in how male and female investors approach the market, especially in areas like blockchain, cryptocurrency, and alternative investments. Approximately 52.24 percent of mal ..read more

The world continues to wait for the commercial real estate shoe to drop. So what, if anything, should financial advisors be doing as it dangles? Rich Byrne, president of real estate credit giant Benefit Street Partners, says the situation in commercial real estate is going to get a lot worse before it gets better. He continues to see less demand for office space as employees who had been coming in five days a week are now coming in only four days, or maybe even three. “We are way oversupplied in office,” he said. “Of course, the better properties will fare better, with the good quality, c ..read more

Gold surged close to a new record high, then retreated, as concerns over a wider regional conflict in the Middle East roiled global markets. Spot bullion initially rose as much as 1.6% after US officials said Israel had struck targets in Iran, while base metals also jumped before paring gains. Bullion has smashed records in a powerful rally since mid-February, driven by the prospect of US interest rate cuts, continued purchasing by central banks and strong consumer demand, especially in China. Simmering international tensions have also boosted the precious metal, which broke through $2,400 an ..read more

Bitcoin rebounded as a bout of acute geopolitical tension eased after earlier sparking steep drops in cryptocurrencies. The digital asset at one point Friday sank more than 6% to $59,643 but later steadied to change hands at $64,450 as of 8:53 a.m. in London. Tokens such as ether, solana and meme-crowd favorite dogecoin also stabilized. Israel launched a retaliatory strike on Iran less than a week after Tehran’s rocket and drone barrage, sending tremors through global markets. A report that nuclear facilities in the Iranian city of Isfahan were safe helped to salve some angst. Tradit ..read more

A recent survey conducted by Crystal Capital Partners, a wealth tech provider and alts platform, found that registered independent advisors are increasing their allocation to private credit funds. A majority of the advisors surveyed are looking to reallocate some portion of their existing public fixed-income exposure to private credit, in particular direct lending, to take advantage of better risk-adjusted return expectations, diversification benefits, and the potential for higher yields. In an interview with InvestmentNews, Alan Strauss, senior partner at Crystal Capital, said advisors are st ..read more

An arbitrator overseeing a Finra Dispute Resolution Services arbitration claim last week awarded close to $100,000 to a customer who in 2018 and again in 2020 purchased GWG L bonds, calling the bonds “not a suitable investment for the [client,] or perhaps anyone,” in an award that pointed to a broker-dealer and financial advisor ignoring the fiduciary duty owed to a client. Detailed or reasoned arbitration awards related to securities industry disputes historically have been rare but are becoming more common with time, industry sources observed. In this claim, the sole arbitrator, Richard Kent ..read more