Chris Witkowsky
Virtus Investment Partners, Inc. and Cliffwater LLC have established an investment advisory firm that will sub-advise a series of multi-strategy, multi-manager alternative mutual funds for retail investors. The first set of funds -- Virtus Alternative Total Solution Fund, Virtus Alternative Income Solution Fund, and Virtus Alternative Real Assets Solution Fund -- will offer investors allocations to multiple hedge fund and other alternative investment managers.
On this Tuesday morning, First Read has a dearth of deal-making, a record immigration fine for InfoSys and the one year anniversary of Hurricane Sandy.
To end your Monday, Second Opinion has news that President Obama's Twitter links were hacked, a Skype executive has left the company to join Silver Lake and Apple's shrinking profits.
The Russian Direct Investment Fund has gathered a consortium of investors from North America, Middle East, Western and Northern Europe and Southeast Asia to invest in the initial public offering of ALROSA, a Russian diamond company. ALROSA's IPO valued the company at 257.7 billion ($8.135 billion).
Odyssey Investment Partners has agreed to sell workers' compensation service provider One Call Care Management to Apax Partners. Financial details of the transaction were not disclosed.
To fire up your week, here's news about China's Lehman Brothers moment, an online market place for people who need auto repairs and the death of the king of the New York underground.
To close out your week, Second Opinion has news that Germany and France are proposing talks over U.S. spying, another big earthquake struck the coast of Japan, prompting tsunami warnings and Snapchat is mulling another huge funding round.
The Jordan Company has held a first close on $1.1 billion for The Resolute Fund III, which launched earlier this year targeting $3 billion, according to a person with knowledge of the firm.
Golub Capital has provided $153 million in financing to support the acquisition of ad tracking firm Competitrack by data provider Market Track, a portfolio company of Aurora Capital Group.
Energy Investors Funds has sold an indirect stake in the Astoria Energy II power plant, a 550 megawatt gas fired combined cycle generation facility in Queens, New York, to Gulf Pacific Power. In 2008, the power plant was awarded a 20 year tolling agreement by the New York Power Authority for the energy and capacity of the plant.