Fighting Zombies: Valuation Scrutiny Upends Private Equity
Zombies— a cultural obsession du jour—found yet more relevance earlier this year from an unexpected source: the asset management unit of the Securities and Exchange Commission (SEC).
In a speech in January, the division's head of enforcement, Bruce Karpati, noted that among the regulator's new concerns is asset valuation in private equity (PE), one particular aspect of which is the snuffing out of "zombie managers" in PE, who, when faced with low liquidity, will extend the life of dormant funds
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Waters Wavelength Ep. 323: MarketAxess’s Chowdhury and Burke (plus some Cusip updates)
This week, Riad Chowdhury, head of Asia-Pacific, and Dan Burke, global head of emerging markets at MarketAxess, join to discuss block trading in fixed income. Plus Reb discusses her recent article about Cusip and updates on the class action lawsuit moving through the courts.
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WatersTechnology latest edition
Check out our latest edition, plus more than 13 years of our best content.
Deutsche Bank casts a cautious eye towards agentic AI
“An AI worker is something that is really buildable,” says innovation and AI head
LLMs are making alternative datasets ‘fuzzy’
Waters Wrap: While large language models and generative/agentic AI offer an endless amount of opportunity, they are also exposing unforeseen risks and challenges.
Trading venues seen as easiest targets for Esma supervision
Platforms do not pose systemic risks for member states and are already subject to consistent rules.
Agentic AI takes center stage, bank tech projects, new funding rounds and more
The Waters Cooler: SEC hack investigation, FCA–Nvidia partnership, LTX BondGPT upgrade, and CDO problems are also in this week’s news round-up.
