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Pimco faces new allegationsBig winners in Michael Klein's SPACBlackRock dabbles in bitcoin

Published by Business Insider on Fri, 19 Feb 2021


<p><img src="https://static6.businessinsider.com/image/600ed1411958200011554b7d-2397/Lucid Air..jpg" border="0" alt="Lucid Air." data-mce-source="MediaNews Group/Bay Area News via Getty Images" data-mce-caption="Lucid Air presentation with CEO Peter Rawlinson." data-link="https://www.gettyimages.com/detail/news-photo/chief-technology-officer-peter-rawlinson-takes-part-in-a-news-photo/1172448234'adppopup=true"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>More allegations of harassment and discrimination have been filed against <a href="https://www.businessinsider.com/pimco-accused-of-sexual-harassment-and-discrimination-in-lawsuit-2021-2">$2.2 trillion asset manager Pimco</a>.&nbsp;</li><li>From Citadel to Blackstone, these are the <a href="https://www.businessinsider.com/cciv-spac-lucid-merger-millennium-citadel-blackstone-investors-hedge-funds-2021-2">big investors</a> in the Michael Klein SPAC that's soaring on Lucid Motors deal chatter.&nbsp;</li><li>BlackRock is starting to "dabble" in bitcoin <a href="https://markets.businessinsider.com/currencies/news/blackrock-begun-dabble-bitcoin-investors-hunting-value-boss-rick-rieder-2021-2-1030096330">at the behest of its clients</a>.&nbsp;</li></ul><p>We are also looking for nominations for upcoming list of top equity research analysts under 35.&nbsp;<a href="https://www.businessinsider.com/seeking-nominations-rising-stars-equity-research-wall-street-analysts-2021-1" data-analytics-module="body_link" data-analytics-post-depth="20" data-uri="575463b17c0bfb91622ccd5b1cabd634">Find out more about the list, and how to nominate someone here.&nbsp;</a></p><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the newsletter' Hate the newsletter' Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>.&nbsp;</p><hr><section><section><section><h3><a href="https://www.businessinsider.com/pimco-accused-of-sexual-harassment-and-discrimination-in-lawsuit-2021-2">Pimco's former funds board chair and ex-communications executive face accusations of sexual harassment in lawsuit</a></h3></section><section></section></section><section></section><p><img src="https://static6.businessinsider.com/image/602ec0ca31eb0600197c40a3-800/pimco-total-return-fund-posts-a-record-275-billion-in-outflows-in-october.jpg" border="0" alt="An undated handout photo of Pimco's headquarters in Newport Beach, California. REUTERS/Pimco/Handout" data-mce-source="Thomson Reuters" data-mce-caption="pimco"></p></section><p>More harassment and discrimination allegations against Pimco emerged in a new complaint from three women. Their new allegations have been added to a previous complaint filed in November by two separate women.&nbsp;&nbsp;</p><p><a href="https://www.businessinsider.com/pimco-accused-of-sexual-harassment-and-discrimination-in-lawsuit-2021-2">Click here to read the entire story.</a></p><hr><section><section><section><section><section><h3><a href="https://www.businessinsider.com/cciv-spac-lucid-merger-millennium-citadel-blackstone-investors-hedge-funds-2021-2">9 investors are set for a huge windfall as Lucid Motors speculation sends a Michael Klein-backed SPAC skyrocketing</a></h3></section><section></section></section><section></section><p><img src="https://static6.businessinsider.com/image/602ec12731eb0600197c40a6-1776/stephen schwarzman.jpg" border="0" alt="stephen schwarzman" data-mce-source="Brendan McDermid/Reuters" data-mce-caption="Stephen A. Schwarzman, Chairman and Chief Executive Officer of The Blackstone Group, speaks during an interview with Maria Bartiromo, on her Fox Business Network show; &amp;quotOpening Bell with Maria Bartiromo&amp;quot in New York February 27, 2014."></p></section><section></section></section><section></section></section><section></section><p>Meet the big-name investors set to make a killing as a result of SPAC Churchill Capital Corp. IV's potential acquisition of Lucid Motors. <a href="https://www.businessinsider.com/cciv-spac-lucid-merger-millennium-citadel-blackstone-investors-hedge-funds-2021-2">Read more here</a>.</p><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><hr><section><section><section><h3><a href="https://www.businessinsider.com/melvin-capital-2-billion-from-citadel-was-them-buying-low-2021-2">Don't call it a bailout: Why Melvin Capital and Robinhood say they didn't need the billions of dollars they got amid the GameStop madness</a></h3></section><h3><img src="https://static6.businessinsider.com/image/6011b2a81d2df20018b712b4-1778/Gabe Plotkin:Alex Flynn:Bloomberg.jpg" border="0" alt="Gabe Plotkin" data-mce-source="Alex Flynn/Getty Images/Bloomberg" data-mce-caption="Melvin Capital founder Gabe Plotkin"></h3><p>Robinhood and Melvin Capital's founders were adamant during Thursday's Congressional hearing that the billions they raised during the GameStop frenzy were not bailouts or necessary to survive in the moment. <a href="https://www.businessinsider.com/melvin-capital-2-billion-from-citadel-was-them-buying-low-2021-2">See more here</a>.</p><hr><h3><a href="https://www.businessinsider.com/russell-westbrook-63-million-investment-digital-bank-varo-fintech-nba-2021-2">NBA star Russell Westbrook just led a $63 million investment in Varo, the challenger bank that's looking to expand into lending</a></h3></section><section></section></section><section></section><p><img src="https://static3.businessinsider.com/image/602ec24942b84000192f441a-1249/ap_17024212854145.jpg" border="0" alt="Russell Westbrook" data-mce-source="Rick Bowmer/AP"></p><p>NBA star Russell Westbrook just backed challenger bank Varo. The startup's CEO Colin Walsh discussed the investment and the fintech's plans to get into lending. <a href="https://www.businessinsider.com/russell-westbrook-63-million-investment-digital-bank-varo-fintech-nba-2021-2">See more here</a>.&nbsp;</p><hr><section><h3><a href="https://markets.businessinsider.com/currencies/news/blackrock-begun-dabble-bitcoin-investors-hunting-value-boss-rick-rieder-2021-2-1030096330">BlackRock has begun to 'dabble' in bitcoin because investors are hunting for 'storehouses of value,' according to fixed-income boss Rick Rieder</a></h3></section><section></section><p><img src="https://static4.businessinsider.com/image/602ec27731eb0600197c40b1-2400/GettyImages-480950078.jpg" border="0" alt="GettyImages 480950078" data-mce-source="CNBC/Getty Images" data-mce-caption="BlackRock boss Larry Fink"></p><p>The world's largest asset manager is getting involved in crypto. <a href="https://markets.businessinsider.com/currencies/news/blackrock-begun-dabble-bitcoin-investors-hunting-value-boss-rick-rieder-2021-2-1030096330">Get the full rundown here</a>.</p><hr><section><h3><a href="https://www.businessinsider.com/veritas-capital-robert-mckeon-founders-family-sues-dyal-private-equity-2021-2">The family of Veritas Capital founder Robert McKeon is looking for $20 million from the firm in a lawsuit that sheds light on its Dyal Capital deal</a></h3></section><p><img src="https://static2.businessinsider.com/image/602ee28c1a89f20019a377a8-1778/gettyimages-460753933.jpg" border="0" alt="New York City skyline" data-mce-source="Westend61/Getty Images"></p><p>Family members of Robert McKeon, the late founder of Veritas Capital, claim in a new lawsuit they are entitled to some of the money the PE firm received from deals with Dyal Capital last year. <a href="https://www.businessinsider.com/veritas-capital-robert-mckeon-founders-family-sues-dyal-private-equity-2021-2'nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=Insider%20Finance&amp;utm_campaign=new:%20wall%20st%20insider">Read more here</a>.</p><hr><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section><section><section><section><section></section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><header id="SideTop-0-HeadComponentTitle" data-yaft-module="tdv2-applet-CommonHeader" data-reactid="3"></header><section><section><section><section><section><section><section><section><section></section><section></section><section></section><section></section><section><section><section><section><section><section><section><section><section><section><section><section></section></section><section><section><section><section><section><section><section><section><section><section><p><a href="https://www.businessinsider.com/real-estate-rocky-mountains-ski-towns-aspen-jackson-hole-vail-2021-02">The wealthy are flocking to the Rocky Mountains, propelling ski-town real estate to new heights (BI)</a></p><section><p><a href="https://www.businessinsider.com/uwm-ceo-mat-ishbia-no-meeting-thursdays-routine-2021-2">CEO Mat Ishbia took his company public in the largest blank-check deal ever. He swears by his 'No Meeting Thursday' routine from 3:30 a.m. to 9:40 p.m. (BI)</a></p><p><a href="https://www.wsj.com/articles/apollo-names-ex-sec-chairman-jay-clayton-as-lead-independent-director-11613646000'mod=hp_lead_pos4">Apollo Names Ex-SEC Chairman Jay Clayton as Lead Independent Director (WSJ)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-02-17/dinan-s-york-plans-to-sell-clo-unit-months-after-hedge-fund-exit'sref=5xrDvJna">Dinan's York Plans to Sell CLO Unit Months After Hedge Fund Exit (Bloomberg)</a></p></section></section><section></section></section></section></section></section><section></section></section></section></section></section><section></section></section><section></section><section></section></section></section></section></section></section></section></section></section></section></section><section></section></section><section></section></section></section></section></section></section><section></section></section></section></section></section><section></section></section></section><section></section></section></section></section><section></section></section></section></section></section></section><section></section></section></section><section></section></section></section></section></section><p><a href="https://www.businessinsider.com/top-finance-stories-of-the-day-for-february-19-2021-2#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/navy-usns-comfort-hospital-ship-new-york-coronavirus-covid-19-2020-3">How the Navy's largest hospital ship can help with the coronavirus</a></p>
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