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Blackstone pays millions in fees to former dealmaker - PE recruiting update - BNPLs enjoy record growth

Blackstone pays millions in fees to former dealmaker - PE recruiting update - BNPLs enjoy record growth

Dan DeFrancesco

Happy hump day!

We're not even out of 2020, but 2021 is already shaping up to be a big year for IPOs. Robinhood has tapped Goldman Sachs to lead its IPO, which will occur in 2021, according to a report out of Reuters.

In other fintech news, Betterment founder and CEO Jon Stein announced he's stepping down effective immediately. His successor? Sarah Kirshbaum Levy, the former COO of ViacomCBS and an advisor to Betterment since October.

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Blackstone is paying millions in fees to its former dealmaker

Great deep dive here from Dakin Campbell and Nicole Einbinder on a former Blackstone dealmaker who got a nice fee for setting up his old shop with a deal.

Chinh Chu, who was a senior managing director at Blackstone, and his business partner Bill Foley received $12 million for their involvement in Blackstone nabbing $16.6 billion to manage on behalf of Iowa insurance company F&G.

Dakin and Nicole have a great look at Chu's relationship with his former firm, and why the payment is being described as a "kickback" by one expert.

Click here to read the entire story.

JPMorgan CEO Jamie Dimon just threw his support behind a second stimulus package: 'The damage will be far less if we help them'

JPMorgan CEO Jamie Dimon with some pointed comments about the need for a second stimulus package. Reed Alexander has the rundown on Dimon's comments on more federal aid, along with his distaste for so-called Zoom culture. Read more here.

The ironclad private-equity recruiting cycle may be cracking

Some interesting insight off the back of our PE recruiting webinar. Reed Alexander has the rundown on how junior-level investment bankers are holding off on entering the recruiting cycle. Read more here.

Here's how much BNPL players raked in over Black Friday and Cyber Monday.

There are few trends in fintech hotter than buy now, pay later. In many ways, Black Friday and Cyber Monday represent the Super Bowl for these point-of-sale financing providers. Shannen Balogh has some great stats on how five of the biggest players in the space did. Read more here.

Here's the 11-slide pitch deck a startup that analyzes consumers' digital behavior to fight fraud used to raise a $7 million Series A

Pitch-deck alert! This one from Shannen Balogh is of a startup that analyzes behavioral data to fight fraud. Check out the deck it used to raise a $7 million Series A. Read more here.