Vista loses $100 million pension-fund investment — UBS ramps up middle-market deals — Knotel plans for big cuts to portfolio
Just a few days removed from Pfizer's announcement on progress made with its vaccine, state governments are beginning to reenact restrictions as COVID-19 cases continue to rise. As a result, the market rally that started the week is now fairly muted, save for tech.
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Some more great reporting out of Dakin Campbell and Casey Sullivan on Vista Equity Partners.
Dakin and Casey uncovered that a pension fund decided against a $100 million investment it planned to make with Vista following Bloomberg's report of Vista founder Robert Smith evading taxes for years.
In October, Smith paid $139 million to settle a federal investigation into his taxes. However, the question remained how Vista's investors would react. Dakin and Casey with a first look at some additional fallout.
Click here to read the entire story.
UBS is deploying investment bankers to wealth hubs around the country to connect with rich clients and drum up deals
UBS is looking to leverage the uber-rich clients in its wealth management division to lead to deals with its investment bank. Reed Alexander and Rebecca Ungarino with a nice look at a strategy that includes the Swiss firm's financial advisors and investment bankers working together. Read more here.
Knotel plans to scale back its global portfolio by 60% over the next 6 months
Big cuts coming to Knotel's real-estate portfolio, according to an internal presentation viewed by Business Insider. Daniel Geiger and Meghan Morris with the scoop on how the flexible workspace firm is looking to tighten its belt in a push towards profitability. Read more here.
Here's the presentation digital closing startup Endpoint used to nab $40 million from its parent company, title giant First American
Here's a presentation from startup Endpoint that was used to raise $40 million from its parent company, First American. Alex Nicoll had Endpoint CEO Scott Martino walk him through the deck. Check it out here.
Ken Griffin's Citadel Securities Fights to Block Rival From Using Leaked Algorithm (Bloomberg)
The Husband-and-Wife Team Behind the Leading Vaccine to Solve Covid-19 (NYT)
Learn more about the financial services industry.
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