(Bloomberg) — BlackRock Inc . is close to a deal to acquire HPS Investment Partners, an acquisition that would propel the firm into the private credit tier as it seeks to become a major force in alternative assets. A deal could be announced as early as this week and value HPS at $12 billion or…
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World Labs, a unicorn AI startup with a valuation of more than $1 billion, unveiled on Monday a new artificial intelligence that can transform any image into a 3D world. World Labs writes at a thread in X that its new AI system works by taking an image, approximating the 3D geometry and filling in…
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Procyon Partners, a Shelton, Conn.-based registered investment adviser with approximately $7 billion in client assets, has hired Rich Franchella as senior vice president of business development. Franchella previously served as a recruiting consultant at Baird. Procyon, part of the Dynasty Financial Partners network, created the new position as it ramps up its recruitment of top…
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Opinions expressed by Entrepreneur contributors are their own. As 2024 draws to a close, many entrepreneurs are reflecting on their investments and preparing for the opportunities that 2025 will bring. Between emerging markets and economic uncertainties, real estate stands out as a reliable and time-tested wealth building strategy. Offering stability, long-term growth and income-generating potential,…
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Chicago-based Cresset has sold a small stake to Constellation Wealth Capital. private equity firm founded by former Emigrant Partners CEO Karl Heckenberg late last year to invest in the growing RIA channel. Constellation has invested $150 million, representing less than 10% of Cresset's equity. Cresset Asset Management, which has more than $60 billion in assets…
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Opinions expressed by Entrepreneur contributors are their own. The first quarter often brings a natural slowdown, as many consumers tighten their budgets after holiday spending. This downturn can be challenging, especially for malls, beauty brands and service-based businesses that rely on sustained engagement to maintain growth. However, with a good thought PR strategybrands can avoid…
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VI Lenin once said: “There are decades where nothing happens; and there are weeks where decades happen.” The perception of time passing can be subjective, and sometimes life feels uneventful, while other times, it feels like a lot of important events happen within a short period of time. All of this is an apt description…
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Shoppers skipped the lines at in-person stores in favor of virtual carts and one-click checkouts this year, as consumers spent more online during Black Friday than ever before. Adobe Analytics tracked shopping habits of American shoppers and found that they spent $10.8 billion on online purchases on Black Friday. That's up 10% from 2023 and…
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Alternative asset manager Blackstone announced three appointments and the creation of two new positions. Blackstone veteran Farhad Karim will step into the newly created role of global chief operating officer of Blackstone's private wealth solutions business. In addition, Chris Sullivan is becoming head of sponsor coverage, another new job function. The firm also announced that…
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