Growing uncertainty surrounding another round of fiscal aid in Washington has reignited concerns about the Main Street Lending Program and whether it can help small and midsize organizations find bridge financing as the COVID-19 crisis continues. The program remains woefully undersubscribed. ... READ MORE >
Financial services
Without adjustments, Main Street Lending Program is unlikely to be mainstream
Unlike the strong demand for the Paycheck Protection Program, which saw $350 billion in aid snatched up in the 13 days following its debut, interest in the Main Street Lending Program has been more muted; less than $100 million in aid was requested in the program’s first month, according to data from the ... READ MORE >
Is cash no longer king?
Living in London for the past three years, I fully embraced the cashless culture. Paying for meals at an outdoor market, for drinks at the pub or to ride the tube was a fast, secure and seamless process using my phone. While working abroad with businesses of all sizes and in various industries, I also got ... READ MORE >
Businesses already strained by COVID-19 should prepare for hurricane season
The Atlantic hurricane season is already off to a busy start, with six named storms having formed as of early July. And it is likely to get worse. The National Oceanic and Atmospheric Administration predicts a 70% chance that this hurricane season will be worse than normal, with just a 10% chance of being ... READ MORE >
Global M&A remains soft, but that could change as elections approach
Global mergers and acquisitions have had a slower start to 2020 compared to other years as companies continue to work through business challenges resulting from the coronavirus. Through June, the total value of announced deals was $327 billion, according to PitchBook. At that pace, the year would ... READ MORE >
Once derided, special purpose acquisition companies go mainstream amid turbulent markets
It wasn’t too long ago that there was an order to the universe when companies wanted to go public, and the traditional initial public offering was at the top of the list. Ranking near the bottom – the province of often-questionable listings – was an investment vehicle called the special purpose ... READ MORE >
The case for active investing has grown stronger recently, but can it last?
For much of the past decade, equity markets enjoyed a bull market that was accompanied by the rise in the popularity and outperformance of passive investment strategies. Investors were attracted to their low fees and were persuaded by the argument that active managers could not consistently beat the ... READ MORE >
401(k) plans can now offer investments in private equity, but should they?
It wasn’t too long ago that investing a 401(k) plan seemed simple enough: Choose a mutual fund – stocks, bonds or maybe a target date fund – and keep working until you retire. Private equity funds seemed a world away, the domain of high net-worth investors with the sophistication to understand the risk ... READ MORE >
What registered investment advisers can expect from the SEC in a changed economy
Even as the coronavirus disrupts many conventions and traditions of the financial services industry, one regulatory ritual has continued, albeit in digital form: the Securities and Exchange Commission’s compliance examinations with registered investment advisers. These examinations, which are now ... READ MORE >
As private equity firms hold onto investments, investors get restless
The coronavirus pandemic hasn’t slowed interest by private equity firms putting their cash to work in distressed firms. Although deal activity was down from March to April, general partners in private equity firms are still searching for value wherever they can find it. And they have the means to ... READ MORE >