Deutsche Bank AG's asset management arm has agreed to buy a minority stake in Aldus Equity, a Dallas asset manager specializing in private equity investments.
Aldus and Deutsche Bank's RREEF Alternative Investments said Thursday that they plan to develop fund of funds private equity products for high-net-worth and institutional investors.
Aldus had $3 billion of assets under management as of Jan. 15. The deal is expected to close in the first half of this year.
In evaluating Enova's proposed acquisition of Grasshopper Bancorp, regulators must decide whether to allow lending products with annual percentage rates of nearly 100% into the national banking system.
The cryptocurrency company has collaborated with payment tech firm Nium to enable conversions to traditional currency, a play to boost use of the digital assets for payments and diversify Coinbase's revenue sources.
Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.
The Consumer Financial Protection Bureau is poised to finalize a contentious rule mandating the collection of demographic data on small-business borrowers, with the aim of ensuring equal access to credit for women and minority owners.
Bankruptcy filings rose 11.9% during the past 12 months, according to statistics from the Administrative Office of the U.S. Courts; JPMorganChase named Jerry Lee and Nick Richitt as global co-heads of health care investment banking; Goldman Sachs appointed Akila Raman as global head of its private and alternatives capital markets business; and more in this week's banking news roundup.
