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Fidelity Investments has closed Fidelity Venture Growth Fund II with nearly $760 million in commitments, topping its $750 million target. The fund closed Nov. 2 after raising about 96% of its target in just two months. Investors included high-net-worth individuals, family offices, registered investment advisers and broker-dealers. Fund II will make mostly direct minority investments …

Strategic Value Partners and NewEdge Power have announced a partnership to develop utility-scale power projects, launching with a seed portfolio targeting up to 1.2 gigawatts of capacity in the PJM electricity market. Funds managed by SVP will make an initial capital commitment to establish the joint venture and support NewEdge’s expansion. NewEdge will lead development, …

Vestmark has partnered with asset management firm Allspring Global Investments to enable registered investment advisors to develop tax-based model portfolios.  Vestmark will combine Allspring’s actively managed investment solutions with the platform’s technology, trading and tax capabilities to help advisors manage open-architecture portfolios, including asset allocation and portfolio construction.  Additionally, the tax-aware solution, which was built …

Victory Park Capital has launched a tokenized feeder fund providing access to its private asset-backed credit strategy, adding blockchain-based distribution and payment capabilities. The AltsABF Tokenized Feeder Fund, known as VALTS, invests in Privacore VPC Asset Backed Credit Fund, or AltsABF, a continuously offered, non-listed interval fund launched in January. VPC, a private credit and …

CW Advisors, a subsidiary of Osaic Wealth, has acquired three registered investment advisory firms, with a combined total of $1.6 billion in assets under management.  CW Advisors has added Newport Beach, CA-based Yosemite Capital Management, The Woodlands, TX-based Threadgill Financial, and Braintree, MA-based Peddock Capital Advisors.  Yosemite Capital Management, which was established in 2001, manages about $369 …

Carson Group has added a Georgia-based wealth management firm, which manages $1.6 billion in total client assets, to its integrated employee channel.  Marietta, GA-based Marietta Wealth Management, which was founded in 2015, is led by managing partners and wealth advisors Scott Keller, Charlie Holloway, Ben Crowe, and Wes Hackney.  The firm provides comprehensive financial planning, …

Executive Summary Skeptics of the AI-fueled stock rally have long warned of a bubble, and last Thursday gave them their strongest evidence yet. Whether AI is a bubble or a richly valued growth story is still an open question. What’s clear is that the technology is already reshaping industries, and the hard part is deciding …

U.S. consumer prices rose 0.4% in October on a seasonally adjusted basis, slowing from a 0.6% increase in September as energy prices climbed at a much slower pace, the Bureau of Labor Statistics reported. Food prices picked up, while shelter accounted for more than 30% of the overall monthly increase. Core consumer prices, which exclude …

CW Advisors, a subsidiary of Osaic Wealth, has acquired three registered investment advisory firms, with a combined total of $1.6 billion in assets under management.  CW Advisors has added Newport Beach, CA-based Yosemite Capital Management, The Woodlands, TX-based Threadgill Financial, and Braintree, MA-based Peddock Capital Advisors.  Yosemite Capital Management, which was established in 2001, manages about $369 …

Carson Group has added a Georgia-based wealth management firm, which manages $1.6 billion in total client assets, to its integrated employee channel.  Marietta, GA-based Marietta Wealth Management, which was founded in 2015, is led by managing partners and wealth advisors Scott Keller, Charlie Holloway, Ben Crowe, and Wes Hackney.  The firm provides comprehensive financial planning, …

Strategic Value Partners and NewEdge Power have announced a partnership to develop utility-scale power projects, launching with a seed portfolio targeting up to 1.2 gigawatts of capacity in the PJM electricity market. Funds managed by SVP will make an initial capital commitment to establish the joint venture and support NewEdge’s expansion. NewEdge will lead development, …

Institutional investors are sticking with private markets despite a long list of risks, but they are becoming more careful about where they put money and with which managers, according to Goldman Sachs Asset Management’s 2026 Global Alternatives Survey. The survey of 225 limited partners and other institutional investors worldwide, conducted from June through August, found …

U.S. banks head into 2027 on solid footing, but the payoff from their heavy spending on artificial intelligence is coming under closer scrutiny. Deloitte’s 2027 Banking and Capital Markets Outlook says AI and digital assets are reshaping how banks operate and where they find growth, even as interest rates stay high and consumers feel the …

Jensen Huang resigned Thursday as Nvidia’s president, CEO and a member of its board, effective immediately, ending more than three decades at the helm of the chipmaker he co-founded. Chief Financial Officer Colette Kress will serve as interim CEO while the board considers internal and external candidates for a permanent successor. The leadership change follows …

Wealth management firms are continuing to explore how their clients can leverage initial public offerings and how artificial intelligence-related technology will change the advisor-client relationship.   Scott Victoria, President of TradePMR, discusses opportunities ahead for RIAs and how AI plays a role in the evolving wealth space.  Robinhood acquired TradePMR last year.  The following responses have …

Tether and London-based Fasanara Capital have launched StableFund, an evergreen private credit vehicle backed by $400 million in sponsor co-investment and designed to raise as much as $3 billion from outside institutional investors. The fund will invest in short-duration, asset-backed credit opportunities sourced through Fasanara’s global fintech lending network. Its strategy will focus on financing …

U.S. banks head into 2027 on solid footing, but the payoff from their heavy spending on artificial intelligence is coming under closer scrutiny. Deloitte’s 2027 Banking and Capital Markets Outlook says AI and digital assets are reshaping how banks operate and where they find growth, even as interest rates stay high and consumers feel the …

Hedge funds lost 1.4% in October as technology and growth strategies led a second straight monthly decline for equity hedge managers, according to HFR. About 60% of funds in the HFRI Fund Weighted Composite Index posted losses, and the gap between the strongest and weakest performers widened from September. The composite’s decline followed a 0.7% …