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Today’s Riddle: I'm a type of investing with a fixed end date. You'll buy at a discount; it's a strategy that's great. What am I? (Scroll all the way down for the answer).

Alright, small talk done, let’s dive in!

TODAY’S MENU

• Investment Banking: Santander Is Hiring 150 Bankers, How To Get A Job In M&A, Biggest Tech M&A Deals, Kim K’s $4Bn Valuation, And More

• Asset Management: PE Firms Acquiring Asset Managers, GSAM Loses Top Exec, And BlackRock To Launch AM In India

• Sales & Trading: Bank Of Japan Tweaks Bond Yield Control Policy, Stronger Than Expected US Growth, And More

• Private Equity: Goldman To Take Kahoot Private In €1.5Bn Deal, PE Jobs Increase At Boutiques, And KKR’s Current View On Deals

• Venture Capital: This Week’s 10 Biggest Funding Rounds, Sequoia Downsizes It’s Crypto Fund, AngelList Expands Into PE, And More

• Hedge Funds: Equity Funds Lead The Way For 2023 Returns, Barclays’ Most Wanted List, And Why Hedge Funds Have Been Buying More China Stock

• Other: 100k Students Suing Universities Over COVID, NatWest Vs Farage, Women’s World Cup, And More

INVESTMENT BANKING (GET THE 100-PAGE GUIDE HERE)

Santander Is Hiring 150 Bankers, How To Get A Job In M&A, Biggest Tech M&A Deals, Kim K’s $4Bn Valuation, And More

Spain's Santander is planning to hire around 150 bankers primarily in the United States as part of its plans to accelerate growth in its investment banking business. The plans for making these hires is set to be completed over the coming year.

Meanwhile, Kim Kardashian’s Skims brand is in the midst of a funding round set to value the fast-growing inner-wear company at close to $4 billion dollars.

• Santander Is Planning On Hiring 150 Investment Bankers (RT)

• How To Get A Job In M&A (EFC)

• Kim K’s Skims Chases $4Bn Valuation Pre-IPO (WWD)

• 10 Biggest Tech M&A Deals Of 2023 So Far (CRN)

• How To Get A Research Job At An Investment Bank (EFC)

ASSET MANAGEMENT (GET THE 71-PAGE GUIDE HERE)

PE Firms Acquiring Asset Managers, GSAM Loses Top Exec, And BlackRock To Launch AM In India

Private equity firms are stepping up their buying binge of asset managers.

In the first half of this year alone, the industry invested more capital than in any year of the past 10 years on deals to acquire asset management companies.

Many acquisitions aim to tap into more lucrative segments of the market, such as the middle market, in which deals require less leverage than mega-deals.

That segment outperformed deals made by mega-funds for three consecutive quarters through Q1, according to PitchBook's Q1 2023 US PE Middle Market Report.

• PE Firms Are Acquiring Asset Managers In Droves (PB)

• Goldman Sachs Asset Management Loses Top Executive (RT)

• Indian Jio & BlackRock To Launch Asset Management Firm (M)

DID YOU KNOW?

We Write High Finance Articles Too

SALES & TRADING (GET THE 107-PAGE GUIDE HERE)

Bank Of Japan Tweaks Bond Yield Control Policy, Stronger Than Expected US Growth, And More

The Bank of Japan (BOJ) has tweaked its bond yield control policy and will allow interest rates to rise more freely, action that market participants have interpreted as the start of a slow shift away from decades of massive monetary stimulus.

Since 2016, the BOJ has guided short-term interest rates at minus 0.1% and the 10-year government bond yield at around 0% in action known as yield curve control (YCC).

It has also set an allowance band of 0.5% above and below the 10-year yield target.

• Bank Of Japan Tweaks Bond Yield Control Policy (RT)

• US Growth Accelerating On Back Of Strong Consumers (RT)

• Earnings Calendar (NASDAQ)

PRIVATE EQUITY (GET THE 127-PAGE GUIDE HERE)

Goldman To Take Kahoot Private In €1.5Bn Deal, PE Jobs Increase At Boutiques, And KKR’s Current View On Deals

Remember during the peak of the pandemic when we were all going through a phase of playing online quizzes on a platform called Kahoot?

Well, Goldman Sachs and General Atlantic are set to acquire the Norwegian educational technology group through an all-cash private-equity transaction valued at nearly $2 billion.

Why go private? Well, it comes with benefits such as less regulatory requirements, less quarterly reporting and public shareholder earning expectations to keep up with, more resources to invest in things the company actually cares about like R&D or funding it’s pension, etc.

• Goldman To Take Kahoot Private In €1.5Bn Deal (SC)

• Boutiques Are Offering More And More PE Jobs (RT)

• KKR Says It’s A Great Time To Do Deals (CNBC)

WEEKLY RECOMMENDATION

When Genius Failed

VENTURE CAPITAL

This Week’s 10 Biggest Funding Rounds, Sequoia Downsizes It’s Crypto Fund, AngelList Expands Into PE, And More

A trio of big rounds led the way this week, including a huge $400 million raise. The week didn’t provide any specific trends, but did see a unicorn raise a down round and investors writing big checks to two companies using AI in health care.

In other news, Sequoia Capital has slashed its crypto fund by 65.8% to $200 million, down from $585 million, on the back of depressed prices across the crypto market where many traditional investors are shying away from the sector as they seek safer alternatives for their capital.

• This Week’s 10 Biggest Funding Rounds (CN)

• Sequoia Is Downsizing It’s Crypto Fund (TC)

• AngelList Expands Into PE With Acquisition Of FinTech (TC)

• Decoding Europe’s Startup Investment Scene (TE)

HEDGE FUNDS

Equity Funds Lead The Way For 2023 Returns, Barclays’ Most Wanted List, And Why Hedge Funds Have Been Buying More China Stock

Hedge funds are having a much better year in 2023 than many did last year with equity funds leading the way so far.

Over 70% of the funds administered by Citco have generated positive returns year to date, while 67% of the funds tracked by PivotalPath are in the green year to date.

• Equity Funds Lead The Way For 2023 Returns (Forbes)

• Barclays: European Equity Funds Top Most-Wanted List (RT)

• China Stock Purchases Increase As Government Lays Out Growth Plans (HW)

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ANYTHING AND EVERYTHING ELSE

100k Students Suing Universities Over COVID, NatWest Vs Farage, Women’s World Cup, And More

UK students pay £9,250 per year for undergraduate courses and more for graduate courses; while international students pay up to £40,000 per year.

Therefore, it’s fair to say if you end up ‘attending’ all of your lectures over Zoom video calls, and miss out on the whole ‘university experience’, you’d probably be quite annoyed.

As such, thousands of students are trying to sue their universities as they believe they received substantially less value from the services they received than those for which they paid.

• Around 100,000 Students Are Trying To Sue Their Universities Over COVID Disruption (ITV)

• Amazon Is Infusing Alexa With Generative AI (CW)

• Everything You Need To Know About NatWest Vs Farage (TG)

• Rishi Sunak To Approve New Oil And Gas Drilling Licenses (TG)

• Keep Up To Date With The FIFA Women’s World Cup (FIFA)

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