Pisces Dismissed
Pisces Dismissed
Venture capital and private equity leaders have dismissed the UK government’s idea for creating growth in private company shares are useless. The Private Intermittent Securities and Capital Exchange System (Pisces) is intended to create a mechanism that allows the trading of shares in private companies. The idea is dismissed on the basis that owners of these shares will not want to lose control of the valuation drivers and control of their companies.
JP Morgan Converts Mutuals to ETF’s
JP Morgan has announced that it will convert $7.2 billion in mutual funds to exchange traded funds. This move reflects that ever-growing market for ETF’s and the US banks desire to cash in.
JP Morgan Targets Private Lending
JP Morgan has announced that it is setting aside $50 billion to lend to risky private companies in partnership with private equity groups. The bank will also use $15 billion provided by investors for this purpose.