RISKS

BlackRock Announces Board Approval of Municipal Closed-End Fund Mergers

Retrieved on: 
Friday, September 8, 2023
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BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE: MIY), BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA), BlackRock Virginia Municipal Bond Trust (NYSE: BHV), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN) and BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI) (each, a “Fund” and collectively, the “Funds”) have approved the mergers of each of MIY, MPA, BHV and BKN with and into MYI, with MYI continuing as the surviving Fund (collectively, the “Mergers”).

Key Points: 
  • BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE: MIY), BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA), BlackRock Virginia Municipal Bond Trust (NYSE: BHV), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN) and BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI) (each, a “Fund” and collectively, the “Funds”) have approved the mergers of each of MIY, MPA, BHV and BKN with and into MYI, with MYI continuing as the surviving Fund (collectively, the “Mergers”).
  • The solicitation of the purchase or sale of securities or of proxies to effect the Mergers will only be made by either a definitive Proxy Statement or a definitive Proxy Statement/Prospectus.
  • This press release references a Proxy Statement and a Proxy Statement/Prospectus, to be filed by the Funds.
  • The Proxy Statement and the Proxy Statement/Prospectus have yet to be filed with the U.S. Securities and Exchange Commission (the “SEC”).

Jefferies Finance Launches Direct Lending BDC with Anchor Commitment from ADIA

Retrieved on: 
Wednesday, July 19, 2023
Asset Management, Professional Services, Finance, Jefferies Financial Group, RISKS, Partnership, MassMutual, Investment, Private, Prospectus (finance), BDC, JEF, MEMORANDUM, Investment Company Act of 1940, Register, EBITDA, ADIA, Form 10-K, Registration statement, Abu Dhabi Investment Council, Abu Dhabi Investment Authority, NYSE, Financial services, Security (finance)

Jefferies Finance is a joint venture of Jefferies Financial Group Inc. (NYSE: JEF) and Massachusetts Mutual Life Insurance Company (“MassMutual”).

Key Points: 
  • Jefferies Finance is a joint venture of Jefferies Financial Group Inc. (NYSE: JEF) and Massachusetts Mutual Life Insurance Company (“MassMutual”).
  • The newly formed BDC will focus on first lien senior secured loans to private equity sponsored U.S. companies.
  • A wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) has committed to invest $625 million of equity in the BDC in order to anchor the BDC launch.
  • Thomas Brady, President of Jefferies Finance, said, "This agreement with ADIA to seed our first BDC comes as the tailwinds in the private credit market have never been stronger.

ONEOK Announces Retirement of Stephen B. Allen, Senior Vice President, General Counsel and Assistant Secretary

Retrieved on: 
Monday, May 22, 2023
Permian, Communication, RISKS, Baptist University, WHEN, Allen, Norton, AND, NGL, Vanderbilt University, Sale, NYSE, Register, Prospectus, Magellan Midstream Partners, Trust, Acquisition, Rocky Mountains, Annual report, Registration statement, Form, Oklahoma Baptist University, Security (finance), JOINT, Transport, TIME, Guidestones, News, EACH, Insurance, Petroleum, Management, Advertising, ONEOK, Ferdinand Magellan

TULSA, Okla., May 22, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced that Stephen B. Allen, senior vice president, general counsel and assistant secretary will retire in mid-August 2023 after more than 17 years with the company.

Key Points: 
  • TULSA, Okla., May 22, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced that Stephen B. Allen, senior vice president, general counsel and assistant secretary will retire in mid-August 2023 after more than 17 years with the company.
  • Allen is leaving ONEOK to join Dallas-based GuideStone, a leading faith-based financial services organization.
  • Norton added, "Having known Stephen for almost 20 years, his decision to retire and dedicate himself to work for a ministry organization does not surprise me.
  • "It was an honor and privilege to work for ONEOK for all these years.

Center Coast Brookfield MLP & Energy Infrastructure Fund Announces Planned Reorganization

Retrieved on: 
Thursday, March 30, 2023
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NEW YORK, March 30, 2023 (GLOBE NEWSWIRE) -- Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE: CEN) announced today that its Board of Trustees approved a proposal by Brookfield Public Securities Group LLC (“PSG”), the investment adviser of CEN, to reorganize CEN into Center Coast Brookfield Midstream Focus Fund (the “Focus Fund”) (the reorganization of CEN into the Focus Fund is the “Reorganization”).

Key Points: 
  • NEW YORK, March 30, 2023 (GLOBE NEWSWIRE) -- Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE: CEN) announced today that its Board of Trustees approved a proposal by Brookfield Public Securities Group LLC (“PSG”), the investment adviser of CEN, to reorganize CEN into Center Coast Brookfield Midstream Focus Fund (the “Focus Fund”) (the reorganization of CEN into the Focus Fund is the “Reorganization”).
  • The Focus Fund is an open-end fund that is a series of Brookfield Investment Funds, which is also managed by PSG using a similar investment strategy.
  • The proposal to reorganize CEN into the Focus Fund will require the approval of CEN shareholders.
  • Please see the About Center Coast Brookfield MLP & Energy Infrastructure Fund section below for the URL to CEN’s website.

Phillips 66 Reaches Agreement to Acquire Publicly Held Common Units of DCP Midstream, LP

Retrieved on: 
Friday, January 6, 2023
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Phillips 66 (NYSE: PSX) and DCP Midstream, LP (“DCP Midstream”) (NYSE: DCP) announced today that they have entered into a definitive agreement pursuant to which Phillips 66 will acquire all of the publicly held common units representing limited partner interests in DCP Midstream for cash consideration of $41.75 per common unit, increasing its economic interest in DCP Midstream to 86.8%.

Key Points: 
  • Phillips 66 (NYSE: PSX) and DCP Midstream, LP (“DCP Midstream”) (NYSE: DCP) announced today that they have entered into a definitive agreement pursuant to which Phillips 66 will acquire all of the publicly held common units representing limited partner interests in DCP Midstream for cash consideration of $41.75 per common unit, increasing its economic interest in DCP Midstream to 86.8%.
  • Affiliates of Phillips 66, as the holders of a majority of the outstanding DCP Midstream common units, have delivered their consent to approve the transaction.
  • As a result, DCP Midstream has not solicited and is not soliciting approval of the transaction by any other holders of DCP Midstream common units.
  • Barclays acted as exclusive financial advisor to Phillips 66, Bracewell LLP acted as legal counsel to Phillips 66, and Morris, Nichols, Arsht & Tunnell LLP acted as special Delaware counsel to Phillips 66.

Liberty Street Advisors Names Bramshill Investments New Subadvisor for Multi-Strategy Income Fund

Retrieved on: 
Thursday, December 1, 2022
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Liberty Street Advisors Inc. (Liberty Street), an experienced investment advisor committed to providing advisors and investors access to differentiated strategies through its selective multi-manager family of funds, today announced Bramshill Investments, LLC (Bramshill) will assume the role of subadvisor on the Braddock Multi-Strategy Income Fund (BDKAX, BDKCX, BDKNX).

Key Points: 
  • Liberty Street Advisors Inc. (Liberty Street), an experienced investment advisor committed to providing advisors and investors access to differentiated strategies through its selective multi-manager family of funds, today announced Bramshill Investments, LLC (Bramshill) will assume the role of subadvisor on the Braddock Multi-Strategy Income Fund (BDKAX, BDKCX, BDKNX).
  • Im thrilled to officially announce this new partnership as I know it will only enhance the strategic trajectory of the Bramshill Multi-Strategy Income Fund, said Tim Reick, CEO of Liberty Street.
  • Liberty Street Advisors, Inc. ("Liberty Street") is an SEC registered investment advisor.
  • The Fund is part of the Liberty Street family of funds within the series of Investment Managers Series Trust.

Harbor Capital Advisors Launches Latest ETF: Health Care Strategy

Retrieved on: 
Thursday, November 17, 2022
Professional Services, Health, Finance, Asset Management, General Health, Consulting, Personal Finance, Specialization, Canyon Capital Advisors, NAV, Biotechnology, Partnership, Trustee, CIO, Ageing, CITS-DT, Health care, ETF, AND, Research, RISKS, MEDI, Alpha, Harbor, Growth, Risk, Fund, Financial adviser, Security (finance)

Harbor Capital Advisors, Inc. (Harbor), a premier multi-manager investment firm offering access to innovative and specialized expertise across a range of investment strategies and vehicles, launched its latest exchange-traded fund (ETF), the Harbor Health Care ETF (MEDI).

Key Points: 
  • Harbor Capital Advisors, Inc. (Harbor), a premier multi-manager investment firm offering access to innovative and specialized expertise across a range of investment strategies and vehicles, launched its latest exchange-traded fund (ETF), the Harbor Health Care ETF (MEDI).
  • The health care team at Westfield has deep domain expertise and specialization across the health care sector.
  • Will Muggia, President, CEO and CIO, has covered the health care sector for over 30 years and Matt Renna, Partner, has over 18 years of health care investing experience.
  • Harbor Funds Distributors, Inc. is the Distributor of the Harbor Small Cap Growth Fund and Harbor Disruptive Innovation Fund.

T. ROWE PRICE EXPERTS SHARE 2023 GLOBAL MARKET OUTLOOK

Retrieved on: 
Tuesday, November 15, 2022
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BALTIMORE, Nov. 15, 2022 /PRNewswire/ -- 

Key Points: 
  • Historically, after stock market sell-offs of this year's magnitude, equity returns have been quite robust looking ahead a year or more
    T. Rowe Price held its 40thannual global market outlook press briefing today, with the firm's experts addressing the outlook for the global economy, equities, fixed income, and asset allocation.
  • T. Rowe Price group of companies including T. Rowe Price Associates, Inc. and/or its affiliates receive revenue from T. Rowe Price investment products and services.
  • Under no circumstances should the material, in whole or in part, be copied or redistributed without consent from T. Rowe Price.
  • T. ROWE PRICE, INVEST WITH CONFIDENCE, and the Bighorn Sheep design are, collectively and/or apart, trademarks of T. Rowe Price Group, Inc.

Harbor Capital Advisors to Expand ETF Suite with International Compounders ETF

Retrieved on: 
Thursday, September 8, 2022
Professional Services, Other Professional Services, Finance, Asset Management, Consulting, Personal Finance, CEO, ETF, Philosophy, Harbor, RISKS, Solution, Canyon Capital Advisors, Fund, AND, CIO, Investment, Â, History, LLC, Alpha, Risk, Growth, NAV, Financial adviser, Renewable energy, Security (finance), Bank

Harbor Capital Advisors, Inc. (Harbor), a premier multi-manager investment firm offering access to innovative and specialized expertise across a range of investment strategies and vehicles, today announced the launch of the Harbor International Compounders ETF (OSEA).

Key Points: 
  • Harbor Capital Advisors, Inc. (Harbor), a premier multi-manager investment firm offering access to innovative and specialized expertise across a range of investment strategies and vehicles, today announced the launch of the Harbor International Compounders ETF (OSEA).
  • The launch of the Harbor International Compounders ETF is another exciting addition to our suite of ETFs.
  • Were excited to add expertise in overseas investing to Harbor Capitals strategic investment solutions, said Bo Knudsen, CEO at C WorldWide.
  • Harbor International Compounders ETF (OSEA) will pursue an actively managed strategy that seeks long-term growth of capital and invests primarily in equity securities of non-U.S. companies, including those located in emerging market countries.

OUTCOME GROUP ANNOUNCES COMMITMENT FROM VARIANT IMPACT FUND TO DRIVE PORTFOLIO EXPANSION

Retrieved on: 
Thursday, August 25, 2022
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NEW YORK, Aug. 25, 2022 /PRNewswire/ -- Outcome Group Inc (Outcome), an outcome-based education financing company, today announced it has secured a new debt facility from Variant Investments, LLC (Variant) and its Variant Impact Fund (IMPCX) which will allow Outcome to accelerate the growth of its education lending programs.

Key Points: 
  • NEW YORK, Aug. 25, 2022 /PRNewswire/ -- Outcome Group Inc (Outcome), an outcome-based education financing company, today announced it has secured a new debt facility from Variant Investments, LLC (Variant) and its Variant Impact Fund (IMPCX) which will allow Outcome to accelerate the growth of its education lending programs.
  • The Variant Impact Fund takes that a step further, providing investors with a diversified portfolio of unconventional cash-flowing assets that are aligned with the United Nations Sustainable Development Goals.
  • The Variant Impact Fund (the "Fund") offers investors efficient access to a diversified portfolio of unconventional income-generating assets aligned with the United Nations Sustainable Development Goals ("UN SDGs").
  • To learn more about Outcome Group, please visit www.outcomegroup.org
    To learn more about Variant Investments, LLC, please visit www.variantinvestments.com
    An investment in the Variant Impact Fund is speculative, involves substantial risks.