Stephen M. Brackett

On June 26th, Investment Services Shareholder Jeremy Senderowicz will be presenting at the Digital Assets Connection Conference 2024 in Stamford, Connecticut. Visit our website for more details on Jeremy’s session on the near- and long-term implications of Bitcoin ETFs. #InvestmentServices #ETF #Bitcoin #Cryptocurrency #DigitalAssets

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Did you know? PACE securitization reached nearly $1 billion in 2023 Join us at the 2024 PACENation Summit to explore current PACE securitization market trends and strategies. Hear from experts about completing and structuring 144a and private transactions. Learn how it’s done.   Register now at pacenation.org/summit. June 12-13 in Nashville.   #PACENationSummit #FinancingInnovation

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XAI has continued to see an increase in the number of new interval and tender offer fund filings. So far in 2024, 26 interval/tender offer funds have filed their initial registration statement with the SEC. Data as of 5/31/2024. The research team at XA Investments LLC is pleased to share with you our XAI Interval Fund Daily Observations. To read the Q1 2024 XA Investments LLC Quarterly Market Updates for Non-Listed CEFs and Listed CEFs, please visit the CEF Market Research page (link below) of XAI’s website and click 'Subscribe' for access to XAI’s new online research portal and pricing info. The in-depth reports provide actionable insights and consolidated data, including market statistics, IPOs, recent fund filings, sponsor data, and market overview. #IntervalFunds #XAIConsulting https://lnkd.in/eVxmcaVC

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Monitoring and discussing structured note holdings just got easier for financial advisors. Through the CAIS platform, you can now easily identify and export issuer concentrations, underlier allocations, structure type dispersions, and time-to-maturity of structured note holdings. Log in or sign up for the CAIS platform here: https://lnkd.in/gAynvWEz

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Great discussion on #Fed signals for #ratecuts later this year, by Keel Point's Steven Skancke and  Bloomberg Businessweek's Carol Massar, Tim Stenovec, Steve Matthews, and Molly Smith. May #CPI showed #inflation easing which gives the Fed more room for rate cuts beginning in September. Listen here: https://lnkd.in/eiBMfSU4

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The chart below was featured in our new piece, "Excessive Extrapolation & Stock Based Compensation" ↓ https://loom.ly/no5HtNY It illustrates a concerning trend in 10-Year trailing Stock Based Compensation. This explosion in stock pay is creating hidden risks in personal #finance. Behavioral finance research from the great Shlomo Benartzi revealed that employees tend to hold onto company stock, especially if it has performed well historically. This "excessive extrapolation" can lead to dangerously concentrated portfolios. Essentially, employees "double down" on their company, tying both salary and savings to one firm. This lack of #diversification can be devastating if the company eventually faces difficulties. Click the link below to subscribe to our newsletter ↓ https://loom.ly/loanBbc

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Webinar tomorrow at 11 a.m. CT: Join Origin Investments Co-CEO Michael Episcope and Senior Vice President of Acquisitions Kyle Verhasselt for a webinar to learn about the opportunity to invest alongside Origin QOZ Fund II in RISE Osceola, a 272-unit Class A build-to-rent (BTR) townhome development in St. Augustine, Fla.     Origin QOZ Fund II will contribute $30 million to the project, and approximately $13.25 million will be capitalized by the sidecar investment. Investors who invest capital gains into RISE Osceola are eligible for the potential tax benefits offered by the QOZ program, specifically tax deferral, tax elimination, and tax efficiency and cash flow.    During the webinar, Michael and Kyle will review the sidecar’s key investment metrics, discuss why we like the project and market, and detail the investment terms. Unable to join? Register and we’ll send you a recording of the webinar. > https://bit.ly/45E94Rv     #multifamilyrealestate #realestateinvesting #multifamily #sidecar #qoz

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📢 Going Live TODAY 📢 💻 "VC Best Practices for Transitioning Fund Administrators" 🗓 Wednesday, May 22nd ⏰ 10am PST / 1pm EST Join our Directors of Finance 👉 Lauren McDavid and Matt DiNardo, CPA for a #fractionalfinance discussion on how #VC firms can successfully navigate a fund admin change. Tune in at the link below👇 https://lnkd.in/giMEqZ5D

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Recent surveys indicate that secondary market sellers are less motivated by their liquidity needs and more focused on fine-tuning their portfolios. State Board of Administration of Florida is a prime example of how a proactive approach to the secondary market and portfolio management has significantly boosted their performance metrics. The pension fund has demonstrated remarkable strategic acumen in managing private equity exposure in its broader $251bn portfolio through its engagement with the secondaries market. Over the past decade, Florida SBA generated over $5bn in proceeds with six targeted secondary sales, according to materials shared at a recent investment advisory council meeting. Notably, exits from European and venture capital funds have propelled their returns—its European PE portfolio’s IRR surged from 6.9% in 2013 to 12.4% in 2023, and its venture portfolio’s IRR climbed impressively from 8.4% to 15.3% over the same period. These results underscore the value of thoughtful GP management and strategic portfolio rebalancing, something that has become one of the main reasons for sellers to come to market (https://lnkd.in/gjHmi3X6). John Bradley, senior investment officer for private equity at Florida SBA, said the pension would see an increased GP turnover rate in the near term and would replace managers that continue to rely on financial engineering to generate profits. Additionally, FSBA is an active secondary buyer, seeking to acquire second-hand fund stakes, particularly in sectors like energy, according to information shared by Bradley. This approach allows them to access new opportunities and rekindle pre-existing partnerships with certain GPs within the market. The full piece about FSBA's involvement in the secondary market is available on Private Equity International: https://lnkd.in/gHG66u3x #privateequity #secondaries #PE

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📢 Lumenai is pleased to participate in the Opal Group Opal Family Office & Private Wealth Management Forum in Newport, Rhode Island, from July 22-24, 2024. Lumenai CEO John Bailey will participate in the panel “Artificial Intelligence: What Does the Future Hold for A.I. and Quantum Computing?”  John will bring a unique perspective to this high-calibre panel of tech and financial leaders. Before founding one of the first firms in the US to offer AI-driven investment management, he had a long career as an investor. As such, he has intimate knowledge of the challenges faced by financial professionals and the promise AI holds to solve them. He believes that humans and machines work best together, and that AI will make the investment process more cost-effective, efficient, insightful and scalable. #AIinvestment #wealthmanagement #lumenai #AIinvesting #quantumcomputing #artificialintellegence #Technology #FinTech #InvestTech #InvestmentStrategy #AIinFinance #AIpowered #DigitalTransformation #AIFinTech100 #AIOCIO #AISubadvisor #AIOverlay

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Don't miss CCIM's CI 104 Course coming up September 9-12th: CI 104 encompasses the entire life cycle of an investment, from refinancing to capital improvements to disposition. Within each case study, you will encounter a key investor decision: Should a non-taxable investor acquire an investment with or without debt financing? What if the investor is taxable? During the holding period of an investment, should an investor make a discretionary capital expenditure or not? How does an investor evaluate disposition alternatives? CI 104 uses advanced analyses to build on the core CCIM concepts. Sensitivity analysis allows you to pinpoint exactly how slight changes in market fundamentals affect investment goals. Risk analysis uses past performance to anticipate how an investment is exposed to external and internal threats. Learn how to mitigate those threats through smart planning and negotiations. In addition to CI 101, participants are required to completion of one of the following interest-based negotiations courses: - Preparing to Negotiate (self-paced online) - Commercial Real Estate Negotiations (one-day workshop) https://lnkd.in/gR-PczF9

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Following a difficult 2023, institutions that can provide liquidity or have the flexibility to deploy additional capital will be able to capitalize on some unique and compelling risk-return opportunities over the next several years, according to a panelist discussion at last week’s Connect Money Real Asset Capital Raising event in Chicago. Marc Turner, Origin Investments, Alexis Sofyanos, TruAmerica Multifamily, Corey Nolen, Cove Capital Investments, LLC., Geoffrey D. Flahardy, ExchangeRight Real Estate #alternativeassets #realassets

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#PlanSponsorsAsk - Growing Percentages of Plan Assets in Target Date Fund Offerings The Question: "Over the past year, we’ve seen a growing percentage of our plan assets invested in our target date fund offerings. How does this trend compare with the industry overall?" The Answer: https://hubs.ly/Q02F8cSH0 #RetirementPlans #PlanSponsorsAsk #TheAdvantageIsYours

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This month FINRA updated its guidance around requirements for firms to oversee chatbot messaging for investors and AI-generated content B.4. Supervising Chatbot Communications New B.4.1. Q. If a firm uses AI technology to create chatbot communications that are used with investors, how should the firm supervise that activity? A. Depending on the nature and number of persons receiving the chatbot communications, they may be subject to FINRA communications rules as correspondence, retail communications, or institutional communications. Therefore, the firm must supervise the chatbot communications in accordance with applicable FINRA rules. See FINRA Rules 2210(a), 2210(b), and 3110(b)(4) and 3110.06 through .09.4 Among other things, Rule 3110(b)(4) requires firms to establish, maintain, and enforce written procedures for the review of incoming and outgoing written (including electronic) correspondence relating to the firm’s investment banking or securities business that must be appropriate for the member’s business, size, structure, and customers.5 In addition, the content must be consistent with applicable standards, such as those in FINRA Rule 2210(d). https://lnkd.in/gGc-TZY4

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Christian Munafo and Kevin Moss share their review and outlook on the current market landscape and provide a portfolio update in The Private Shares Fund Q2 2024 Webinar. To view the full webinar replay please visit: https://lnkd.in/e8rCJ4kQ #privatemarkets #alternativeinvestments #webinar

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