Core Insights - WTW has announced the acquisition of FlowStone Partners, enhancing its capabilities in private equity secondaries for both individual and institutional investors [1][2][4] Company Overview - WTW is a global advisory and solutions company with a focus on risk assessment, strategic asset allocation, fiduciary management, and investment manager selection, managing over US$178.8 billion in assets [7] - FlowStone Partners specializes in private equity secondaries investing, known for its innovative portfolio construction and risk management [10] Strategic Implications - The acquisition aims to expand access to high-quality private markets through liquid structures, thereby improving long-term outcomes for investors [3][5] - Combining FlowStone's expertise with WTW's global scale and research capabilities positions the company to meet evolving investor needs in the growing private equity market [4][5] Transaction Details - The acquisition is subject to approval from FlowStone's managed fund shareholders and independent trustee board, with completion expected by early 2026 [6]

As filed with the Securities and Exchange Commission on November 6, 2025 Registration No. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM S-1 REGISTRATION STATEMENT THE SECURITIES ACT OF 1933 _________________________ HCM IV Acquisition Corp. (Exact name of registrant as specified in its charter) _________________________ | Cayman Islands | 6770 | 98-1883478 | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R.S. ...

Core Insights - Ares Management Corporation has acquired a 20% stake in Plenitude for €2 billion, reflecting an implied enterprise value of over €12 billion [1] Group 1: Acquisition Details - The acquisition was made by Ares Alternative Credit funds and other affiliated Ares funds [1] - The transaction highlights Ares Management's capability to provide flexible capital solutions [1]

Core Insights - Ares Management Corporation has successfully raised approximately $1.5 billion for its Ares Direct Lending's dedicated specialty healthcare strategy, which includes the final closing of the inaugural Ares Specialty Healthcare Fund [1] Group 1: Fundraising and Strategy - The capital raised will support both sponsored and non-sponsored specialty healthcare companies [1] - The fundraising includes anticipated leverage, indicating a strategy to enhance investment capacity [1]

Group 1 - Ares Management Corporation has appointed Bill Benjamin as Vice Chairman, effective January 1, 2026 [1] - Bill Benjamin is currently the Co-Head of Ares Real Estate [1] - Julie Solomon will continue to lead the Ares Real Estate team as the global Head of Real Estate [1] Group 2 - Bill Benjamin will report to Kipp deVeer and Blair Jacobson, who are Co-Presidents of Ares [1]

Core Insights - LenderMAC has entered into a strategic relationship with Ares Alternative Credit funds, involving a structured debt investment and buying arrangement, which will enhance LenderMAC's growth and origination efforts [1][2] - The partnership is expected to accelerate LenderMAC's growth trajectory in 2026, as the company aims to expand its product offerings and customer base while maintaining cost efficiency for homeowners [2] Company Overview - LenderMAC, founded in 2021 and headquartered in Cypress, California, specializes in a diversified portfolio of mortgage products and services, focusing on innovative lending solutions [4] - Since its acquisition in May 2025, LenderMAC has achieved significant milestones, including establishing a wholesale channel, expanding its lending footprint to over 20 states, and funding its first $100 million in loans [2] Strategic Developments - The collaboration with Ares is seen as a significant opportunity for LenderMAC to capitalize on market growth, with Ares expressing enthusiasm about working with LenderMAC's management team [3] - LenderMAC has refined its AI platform to enhance operational efficiency, including the development of a bank statement analyzer and other AI-driven initiatives [2] Ares Management Overview - Ares Management Corporation is a leading global alternative investment manager with over $572 billion in assets under management as of June 30, 2025, offering investment solutions across various asset classes [5]

Market Overview - The market is performing well, primarily driven by AI advancements, with slow economic growth and rising consumer spending, particularly among high-income individuals [1][2] - Business investment remains stable, and corporate earnings growth is in double digits, creating a favorable economic outlook [2] Investment Strategies - Investing in the healthcare sector is recommended as it has underperformed in recent years, with companies like Danaher and Medpace being highlighted for their resilience against economic fluctuations [4][5] - Blackstone is favored due to its dependence on capital markets, benefiting from lower interest rates and a favorable IPO market, along with significant investments in AI data centers [7][8] Company Analysis - Danaher and Medpace are seen as economically insensitive, with their business driven by drug development cycles and R&D spending, making them attractive investments despite economic uncertainties [5][6] - Blackstone is noted for its strong track record in investment performance, new product development, and capital allocation that benefits shareholders through dividends [10][11] Technology Sector Insights - Nvidia is identified as a top investment due to the increasing demand for AI infrastructure, with expectations for capital expenditure from major tech companies to rise [12][13] - The AI sector is expected to continue leading the market, with significant growth in usage from major players like Google and OpenAI [15][16] Long-term Investment Perspective - For investors with a time horizon beyond five years, equities are considered a better option than bonds, despite the inherent volatility of the stock market [18][19]

Core Insights - AShareX, a U.S.-based fractional investment platform, has partnered with TheCarCrowd, the UK's leading collectible car investment company, to democratize access to collectible car ownership through fractional investing [1] - This partnership represents the first cross-border offering in the alternative investment space between these two companies [1] - The Ferrari 328 GTS, a modern classic in concours condition, will be available for investment through this collaboration [1]

Group 1 - The second quarter results demonstrate the strength of Apollo's business model and the disciplined operational approach, leading to positive inflows as a reward for good performance [1] Group 2 - David A. Johnson, with over 30 years of investment experience, is the founder of Endurance Capital Management and has a diverse investment portfolio including stocks, bonds, and alternative investment funds [2]

Company Overview - StepStone Group has opened a new office in Dublin, Ireland, under its subsidiary StepStone Group Europe Alternative Investment Limited, which is regulated by the Central Bank of Ireland [2] - The firm has been operating in Dublin since 2005 and provides EU-based clients access to private market investment solutions across various asset classes [3] Financial Performance - As of December 31, 2024, StepStone Group Europe Alternative Investment Limited oversees €29.1 billion in assets under management (AUM), a significant increase from €20.6 billion in December 2022, reflecting a growth of approximately 41% [3] Workforce Expansion - The number of employees in StepStone's Dublin office has doubled since 2021, reaching 110 employees, which constitutes about 10% of the firm's global workforce [4] - The new office spans 12,000 square feet and is designed to foster teamwork, brand pride, wellness, and sustainability [4] Market Position - The expansion in Dublin is seen as a positive development for Ireland's financial services sector, reinforcing the country's status as a prime location for global investment firms seeking access to the European market [5][6] - StepStone's growth in Ireland is attributed to the increasing demand for private market solutions among EU-based institutional and private wealth clients [4] Strategic Initiatives - StepStone has recently launched its first European Long-Term Investment Fund (ELTIF) focused on the private debt market and has converted existing RAIF funds into UCI Part II vehicles [6]