white collar capital
Real Estate equity fund Multi-Employer Property Trust made New Jersey history yesterday when it announced it had purchased the Newport Tower in Jersey City, New Jersey for $377.5 million.
Tech Bubble Watch
When news of JP Morgan’s new $1.2 billion digital growth fund first broke two weeks ago, the NY Post reported that a significant portion of that capital was earmarked for investment in Twitter.
Today the Wall Street Journal, New York Times and Financial Times rekindled this news, reporting that JP Morgan is in Read More
New York’s biggest banks can’t seem to get enough of the top Web properties, despite balooning valuations.
This morning, JPMorgan filed regulatory papers on a new $1.22 billion digital growth fund, twice as large as reported last week.
According to Scott Walker at Venture Capital Dispatch, the fund seems to be geared toward Read More
Tech Bubble Watch
During the last tech boom, JPMorgan was the principal backer for Flatiron Partners, Fred Wilson’s first venture firm and the company that put Silicon Alley on the map.
But by the middle of 2001 the banking bigwig was looking to wind Flatiron down, as a number of high-profile flops cut deep into the Read More
The late-stage gold rush for big name tech companies keeps heating up. JP Morgan announced a new $500-750 million fund today to invest in top technology firms like Facebook and Twitter.
It will be interesting to see how JP Morgan handles these investments for U.S. clients, after watching rival Goldman Sachs botch an Read More
Two years after the financial crisis effectively neutered Wall Street’s ability to ring in the holidays with style, some of the nation’s largest banks are still keeping the eggnog in the cubpoard. TheStreet.com reports that Morgan Stanley, JPMorgan Chase, Citigroup, UBS and Bank of America will not be throwing holiday parties this year. Read More
“Have you ever noticed,” the chairman of Citigroup, Richard D. Parsons, asked The Observer this Monday evening, “that in the NFL, or in the NBA, or in Major League Baseball, this guy was a failure at Cleveland, and then he becomes the coach in Houston? These guys just move around from one team to another. Read More
Everyone's Favorite Banker
Wall Street executives like calling boardroom intrigue Shakespearean, but it isn’t. Motives are knotty in Shakespeare’s tragedies; psyches are scrambled, and even ravenousness gets convoluted. Banking is purer. There is allegiance, betrayal, revenge, failure, power and money.
So while it might have seemed that something intricate and theatrical must have happened last week, when JPMorgan’s Read More
My article in this morning’s Observer, which editor-in-chief Kyle Pope gracefully named Waaaaah Street, tries to explain where executives’ fury at Obama is coming from. It begins with an anecdote about JP Morgan chief Jamie Dimon giving a presentation last Tuesday in the Sheraton New York Hotel & Towers. “I put this next slide Read More
Last Tuesday in the Sheraton New York Hotel & Towers on West 53rd Street, just after lunchtime, Jamie Dimon made a joke. “I put this next slide in, the next one, for fun,” the JPMorgan chief executive told his audience at the Barclays Global Financial Services Conference, clicking to page 18 of his Read More