On Wednesday, Goldman Sachs Group Inc (NYSE:GS)’s shares inclined 1.98% to $213.15.
Goldman Sachs Group Inc (GS) has raised more than $1bn from its wealthy individual clients for a fund that will invest in fast-growing private companies, as the global market for unlisted company fundraising gathers pace.
The fund, named Global Private Opportunities Partners II, is three times the size of a similar one Goldman rose in 2011. It will pursue minority investments in global growth companies, across sectors.
The fund is being offered to clients of the US bank’s wealth administration division, which has a minimum account size of $10m and an average account balance of $40m, and partners of the firm.
In 2000, the median tech company was five years old before going public, according to Goldman. By 2014, the median tech company was 11 years old before floating, reflecting how companies were increasingly opting to raise hundreds of millions of dollars privately at high valuations without having to endure the scrutiny that comes with an initial public offering.
Private fundraising rounds were once dominated by venture capitalists, but now hedge funds and mutual funds crop up regularly as participants in these types of deals. Family offices and private investors are also clamoring for access, because they believe much of the rapid price appreciation is occurring while these companies are still private.
The Goldman Sachs Group, Inc. operates as an investment banking, securities, and investment management company worldwide. The company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, such as strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, including public offerings and private placements of a range of securities and other financial instruments, as well as derivative transactions entered into with public and private sector clients.
Jumei International Holding Ltd (ADR) (NYSE:JMEI)’s shares gained 1.92% to $22.81.
Jumei International Holding Ltd (ADR) (JMEI) declared that it has attained a minority stake in It’S SKIN, a Korean beauty brand.
It’S SKIN is a prestige Korean beauty brand that has become very popular amongst Chinese consumers.
Mr. Leo Ou Chen, founder and CEO of Jumei, stated, The popularity of Korean beauty products in China has grown rapidly over the past few years. With an extensive catalogue of prestige products, It’S SKIN is an ideal partner for Jumei to collaborate with as we build Jumei Global into the largest cross border e-commerce platform in China. It’S SKIN will greatly benefit from the growing size and scale of our platform.
Jumei International Holding Limited operates as an online retailer of beauty products in the People’s Republic of China. The company offers beauty products, such as cosmetics, skin care, cosmetic applicators, fragrance, and body care products; and beauty products for men, and baby and children.
At the end of Wednesday’s trade, Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN)‘s shares surged 6.82% to $169.88.
Traders are betting that Alexion Pharmaceuticals, Inc. (ALXN) will rally by the end of next week.
About 2,000 June 165 calls were purchased for $1.42 to $1.94 yesterday, according to optionMONSTER’s Heat Seeker tracking program. This represents fresh buying, as open interest in the strike was only 195 contracts before the session began.
These long calls lock in the price where investors can buy the stock through expiration in seven sessions, letting them position for a rally at limited cost. They carry less risk than owning shares because the most that can be lost is the price of the options no matter how far the stock might fall. (See our Education section)
The drug maker gapped down in early May on news that it would buy Synageva BioPharma. Shares rebounded but then lost those gains and have been trading sideways in an extremely tight range for the last week.
Alexion Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes life-transforming therapeutic products. It offers Soliris (eculizumab), a therapeutic product to treat paroxysmal nocturnal hemoglobinuria (PNH), a genetic blood disorder; and atypical hemolytic uremic syndrome (aHUS), a genetic disease. The company also conducts Phase IV clinical trials on Soliris for the treatment of PNH and aHUS registry; Phase III clinical trials for the treatment of delayed kidney transplant graft function and myasthenia gravis; and Phase II clinical trials for the treatment of antibody mediated rejection in presensitized kidney transplant patients and neuromyelitis optica.
Viacom, Inc. (NASDAQ:VIAB), ended its Wednesday’s trading session with 0.61% gain, and closed at $67.15.
Viacom, Inc. (VIAB) pointed out that the entertainment content company has been at the epicenter of investor debate about the future of the bundle, which has caused noteworthy multiple compression. However, analysts see recovery potential and believe the risks of near-term disruption to the company’s business are modest.
While the core cable networks face some structural challenges, which are now well-known, ratings could stabilize in the second half of 2015, analysts noted.
Additionally, their forecasts comprise successful cost savings realization with limited topline impact from the declared restructuring program.
Viacom Inc. operates as an entertainment content company in the United States and internationally. The company creates television programs, motion pictures, short-form video, applications, games, consumer products, social media, and other entertainment content.
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