Private Equity

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Drugmaker Parabilis Raises $745 Million in US IPO, Placement

Parabilis Medicines Inc., a clinical-stage cancer drug developer, raised nearly $745 million in an upsized US initial public offering that priced above its marketed range, and a private placement.

By Avalon Pernell

Billionaires Flee to Tax Haven Just Across the California Border

Massive IPOs and a potential wealth tax are sending a cascade of Silicon Valley money into Nevada’s Incline Village, reshaping the quiet enclave.

Citi CFO Sees Trading Revenue Jump as Fraser Drives Turnaround

Citigroup Inc. is preparing for a windfall from trading across asset classes, with momentum appearing more sustained than it did early last year, according to Chief Financial Officer Gonzalo Luchetti.

Citadel Wins Access to Marshall Wace Records on Credit Head Hire

UK hedge fund Marshall Wace must turn over to Citadel documents related to its recruitment of a former portfolio manager at Ken Griffin’s firm, a New York judge ruled.

PE Boss Constantino Ran Firm in ‘Drunken Haze,’ Ex-COO Says

On a Dominican Republic vacation five years ago, private equity boss Matthew Constantino almost died.

Index Funds Gobbling 30% of SpaceX Float Risk Driving Price Up

The prospect of billions of dollars of oncoming demand for SpaceX stock from index-tracking funds risks creating a feedback loop that drives the shares of Elon Musk’s company even higher, academics and market observers have warned.

Matt Levine’s Money Stuff: You Can Just Not Buy SpaceX

Matt Levine discusses just not buying SpaceX, the Alpha capture gig economy, AI lawyers, the Meta trade school for building data centers, and soccer results risk management.

Blackstone’s Gray Calls Firm’s Wealth Franchise ‘Underestimated’

Blackstone Inc. President Jon Gray said people underestimate the firm’s $310 billion wealth franchise amid retail investors’ concerns over private credit and other alternative assets.

World’s Hottest Space Stock Posts Rally That Dwarfs All Rivals

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Anthropic Releases Mythos-Like Model Without Cyber Capabilities

Anthropic PBC is widely releasing a version of Mythos that will be blocked from carrying out cybersecurity tasks, months after warning that the powerful artificial intelligence model could spot and exploit vulnerabilities in critical software.