Jim Kane

issuing correction on a previous post of mine. you do not, under any circumstances, "gotta hand it to them"

The lucrative private equity pay scheme under challenge Shareholders are challenging a contentious form of financial engineering that rewards founders

The lucrative private equity pay scheme under challenge ft.trib.al/zXBCR3m | opinion

ha ha also me "I'm shocked that people are shocked" - JP Morgan co-chief executive of commercial & investment

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Norwegian new passenger cars sales by type: Monthly

US new light-duty vehicle sales by type: Monthly

Tale of two petrostates.

Data from @robbieandrew.bsky.social: robbieandrew.github.io/carsales/

Exclusive | BlackRock Donates $100 Million to Trade-Worker Training in Infrastructure-Investing Push The world’s biggest money manager is telling lawmakers that trillions are needed to build out infrastructure.

it's a full-court press on infrastructure this week... "The donation, set to be announced at BlackRock’s infrastructure summit in Washington later Wednesday..."

IFM Investors Maps Path for Australia’s Super Funds to Meet US Infrastructure Funding Gap | Chief Investment Officer To revitalize American infrastructure, IFM described pension funding as a ‘generational opportunity.’

"The report, released this week as Australian superannuation fund leaders are in the U.S. for a summit presented by the government of Australia in partnership with the Macquarie Group..." 🧛‍♂️ 🦘

ERS Texas temporarily bans private markets offerings in defined contribution plan ERS Texas stated that while current offerings did not meet their standard for inclusion, the pension would continue to review them down the line. Alfie Crooks15 hours ago Employees’ Retirement System of Texas has formalized concerns with private markets assets in defined contribution plans, stating that they “did not meet the standard for inclusion” in its own investment options. The pension system, which met for its board meeting on March 4, elected to amend its investment policy to prohibit the inclusion of private markets in its DC plan, while also stating that it would continue to monitor the offerings. Buyouts listened to a live broadcast of the meeting.

www.buyoutsinsider.com/ers-texas-te...

Okay emergency blog post explaining this:

www.businesslawprofessors.com/2026/03/i-kn...

Closing the US Infrastructure Gap with Long‑Term Pension Capital | IFM Investors This policy blueprint explores how long‑term pension capital can help close the US infrastructure funding gap through public‑private partnerships, asset recycling and targeted regulatory reform.

Here's the report with IFM's full list of de-risking demands.

Priming itself for the visit, global investor IFM Investors owned by 15 Australian pension funds and UK pension fund Nest, released a so-called “policy blueprint” offering suggestions on how to unlock pension capital investment in US infrastructure. The report calls on the US federal and state governments to consider an Australian-tested “asset recycling” strategy by leasing existing infrastructure to long-term investors like US and Australian pension funds and use the proceeds to build new infrastructure needed by communities, like schools and hospitals.

Australian pension funds lobbying Trump to take up asset recycling… no thanks

realassets.ipe.com/news/austral...

TPUSA is teaming up with Google and NextEra in both municipal and statewide races in Arizona, in part to control the future of a gigantic, publicly owned water and power utility, the Salt River Project.

Note the coalition here. Masks are coming off at the utility and energy intersection.

Campbell’s Soup Heirs, Colleges Fight Over $65 Million Endowment The closure of Philadelphia’s University of the Arts unleashed a court fight over how to divvy up the cash it left behind.

Occasionally, I'm still stunned by the audacity of WASP nicknames.

"...set off an unusual court fight that’s been playing out in Pennsylvania for over a year and pitted more than a dozen schools against the family of Dorrance 'Dodo' Hamilton, the late Campbell’s Soup heiress"

correct

9:09 AM | March 6, 26 | reuters.com UPDATE 1-BlackRock limits withdrawals at private credit fund as redemptions mount (Changes sourcing, Adds details throughout) March 6 (Reuters) - BlackRock said on Friday it has put limits on withdrawals from a flagship private credit fund after a surge in redemption requests, making it the latest company responding to rising investor caution in the asset class. Shares of the asset manager fell 3.4% before the bell after the Financial Times first reported the news. BlackRock's $26 billion HPS Corporate Lending Fund received withdrawal requests worth $1.2 billion in the first quarter, or roughly 9.3% of its net asset value. HPS Investment Partners told investors it would pay out $620 million as part of the quarterly redemption, hitting a 5% threshold that allows the asset manager to restrict further withdrawals

🫣

""Yo brother, legal team confirmed that we can't work with minors rn," a Kalshi employee wrote to the user in messages reviewed by the Journal. "Kinda sad tbh."" im losing my mind

Indiana escalates crypto debate with first state mandate for DC plans Following months of industry debate over crypto’s place in defined contribution plans, Indiana has escalated the conversation — becoming the first state to require public DC plans to offer crypto inve...

"Under a new Indiana law, public DC plans in the state will be required to offer at least one crypto investment option in a self-directed brokerage account by no later than July 1, 2027" 🧐

Money Beyond Borders — the making and breaking of global currencies The US dollar’s future is explored in Barry Eichengreen’s well-informed history on purchasing power in the monetary market

I reviewed Barry Eichengreen's new book about global currencies and the future of the dollar, check it out:

Clickhole country.

This again, somehow without the asset managers/trade groups as intermediaries.

On Tuesday, the US president posted on Truth Social that the US International Development Finance Corporation would provide insurance “at a very reasonable price . . . for the Financial Security of ALL Maritime Trade, especially energy, traveling through the Gulf”. The DFC is nominally charged with providing aid to poorer countries along with advancing US security interests. But Trump has increasingly used it to backstop the White House’s military ambitions, including by supporting critical minerals projects. And he’s selected Ben Black, the son of disgraced Apollo financier Leon Black, to lead it. The younger Black lists experience in private equity at Apollo and as an M&A attorney at Sullivan & Cromwell (though his CV is thinner on developing-world aid).

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it's everything everywhere all at once

& at the same time Blackstone's senior management just pitched in $150 million of their own money to save BK's private credit fund, so everything going great?!

Federal Reserve grants Kraken access to payments system in first for crypto group Digital assets company will be able to connect directly into key parts of central bank’s infrastructure

appalling

Infrastructure at the heart of Canada-Australia pension fund pact - Top1000funds.com A group of major Canadian pension funds, including the Maple 8, has entered a high-powered memorandum of understanding with top Australian superannuation funds to lobby for policy changes that would h...

Canadian and Australian pension joining forces to lobby governments in both countries to de-risk their private infrastructure investments. 😬

cfpbunion.shop

Record Numbers of Workers Are Raiding Their 401(k) Savings A divergent economy has given people record retirement savings and more need to dig into them.

Hardship withdrawals from 401(k)s increased for the sixth straight year. Top reasons included avoiding foreclosure and eviction as well as paying medical expenses. (Gift link)
www.wsj.com/personal-fin...

Great to see extensive NYT & FT coverage of our paper on the fossil-fuel profit bonanza during the previous war-induced oil & gas price spike. Links in Gregor’s thread. 👇

I just need everyone to watch this and understand I have been laughing about it for 24 hours

They Went to Dubai for Sun and Low Taxes. They Wound Up in a War Zone. The Gulf city has emerged as a premier destination for expats. Now that it is caught in the Mideast conflict, some of them are finding little sympathy back home.

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