Latest News

Franklin Templeton has agreed to acquire a majority stake in European real assets manager Stoneshield Capital through its Clarion Partners subsidiary, significantly expanding the company’s presence in higher-return property and infrastructure strategies across Europe. The transaction will triple Clarion’s European assets under management to approximately $13 billion, or €11 billion. Clarion’s total assets will rise …

PennantPark Investment Advisers has closed a $745 million private credit continuation vehicle led by Pantheon, giving investors in several legacy funds a liquidity option while allowing PennantPark to continue managing a seasoned portfolio of middle-market loans. PennantPark Credit Secondary Fund, or PCS, acquired a diversified portfolio of mature private credit investments across service-oriented industries that …

Asset-tokenized platform Securitize has launched the Neuberger Securitize High Income Tokenized Fund, marking it as the first high-yield bond fund with investment manager Neuberger Berman.  The fund aims to attract risk-adjusted returns by investing primarily in high-yield and fixed-income investments across public blockchain networks such as Avalanche, Ethereum, Solana, and Sui.  The move comes as …

Vestmark has been tapped by Vanguard to provide an expanded source of model portfolios to registered investment advisors, as asset classes and service preferences continue to be growing factors for clients.  Vanguard has launched the Vanguard Custom Model Portfolios, which aims to provide advisors with customized portfolios through the firm. Through its partnership, Vestmark will …

EverBank Financial and WaFd have agreed to a $3.9 billion reverse merger that will combine EverBank’s digital and specialty-banking operations with WaFd Bank’s branch network and deposit base across the western United States. EverBank will merge into WaFd, which will remain the publicly traded holding company but adopt the EverBank Financial Corp. name. The combined …

Franklin Templeton has agreed to acquire a majority stake in European real assets manager Stoneshield Capital through its Clarion Partners subsidiary, significantly expanding the company’s presence in higher-return property and infrastructure strategies across Europe. The transaction will triple Clarion’s European assets under management to approximately $13 billion, or €11 billion. Clarion’s total assets will rise …

U.S. consumer prices rose 0.4% in August, accelerating from a 0.1% gain in July as gasoline and other energy costs lifted household expenses, the Labor Department reported Friday. The Consumer Price Index increased 3.4% over the 12 months through August, matching July’s annual pace. Excluding volatile food and energy components, core CPI rose 0.3% for …

The Producer Price Index for final demand increased 0.4% on a seasonally adjusted basis in August, following a 0.1% uptick in July and a 0.1% decline in June. Over the 12 months ended in August, unadjusted final demand prices advanced 5.4%. Rising goods prices powered the bulk of the monthly increase, advancing 1.1% in August …

IG Wealth Management has selected Goldman Sachs Asset Management to oversee five diversified portfolios holding C$23.2 billion ($16.8 billion), pairing IG’s financial planning network with Goldman’s institutional asset-allocation and risk-management capabilities. Goldman Sachs Asset Management’s Multi-Asset Solutions team will assume portfolio management responsibility for the newly renamed IG Strategic Wealth Portfolios, formerly part of the …

Wealth Enhancement has entered Alaska by acquiring the investment advisory business of Arbor Capital Management, adding more than $345 million in client assets as the Minneapolis-based consolidator continues its national expansion. The transaction, which closed Aug. 31, brings Arbor’s Anchorage and Fairbanks offices into Wealth Enhancement’s network. Financial terms were not disclosed. Arbor’s six-person team …

Franklin Templeton has agreed to acquire a majority stake in European real assets manager Stoneshield Capital through its Clarion Partners subsidiary, significantly expanding the company’s presence in higher-return property and infrastructure strategies across Europe. The transaction will triple Clarion’s European assets under management to approximately $13 billion, or €11 billion. Clarion’s total assets will rise …

MacLean Power Systems has agreed to acquire Delta Star, adding power transformers and mobile substations to its growing portfolio of electric-grid equipment. Delta Star, founded in 1908 and headquartered in Lynchburg, Virginia, manufactures engineered-to-order power transformers, mobile and unitized substations, auxiliary trailers and related equipment. Its customers include electric utilities, data centers, industrial businesses and …

U.S. consumer prices rose 0.4% in August, accelerating from a 0.1% gain in July as gasoline and other energy costs lifted household expenses, the Labor Department reported Friday. The Consumer Price Index increased 3.4% over the 12 months through August, matching July’s annual pace. Excluding volatile food and energy components, core CPI rose 0.3% for …

Headwinds have become “increasingly evident” in business development companies (BDCs), with selective credit issues becoming more prevalent and non-accrual investments increasing, according to ratings agency KBRA. Stress is rising at business development companies, but problems remain concentrated among borrowers and managers rather than signaling a broad private credit downturn, according to KBRA. Median non-accrual investments …

Vestmark has been tapped by Vanguard to provide an expanded source of model portfolios to registered investment advisors, as asset classes and service preferences continue to be growing factors for clients.  Vanguard has launched the Vanguard Custom Model Portfolios, which aims to provide advisors with customized portfolios through the firm. Through its partnership, Vestmark will …

U.S. employers unexpectedly shed 23,000 jobs in July, falling far short of the 88,000 gain projected by economic consensus, according to data released by the U.S. Bureau of Labor Statistics. The drop was compounded by sharp downward revisions to prior months. May payroll additions were revised down by 66,000 to 63,000, while June figures were …

Prime Capital Financial has launched its Endowments and Foundations division, with plans to offer clients outsourced CIO and other fiduciary management services.  The new unit aims to provide family foundations, museums, educational institutions, health-focused foundations, and nonprofit endowments with investment management, impact strategy, and governance.  Prime Capital has tapped Mark Hays to lead the practice …