Mala Gaonkar ’s hedge fund tripled its assets to about $6 billion just three years after it started trading, marking one of the fastest-growing debuts in history. Her SurgoCap Partners was the largest-ever woman-led debut in an industry dominated by men when it launched with $1.8 billion in January 2023. Gaonkar, 56, uses data science to invest around the theme of how technology can enhance other ...
Mala Gaonkar ’s hedge fund tripled its assets to about $6 billion just three years after it started trading, marking one of the fastest-growing debuts in history. Her SurgoCap Partners was the largest-ever woman-led debut in an industry dominated by men when it launched with $1.8 billion in January 2023. Gaonkar, 56, uses data science to invest around the theme of how technology can enhance other sectors such as financials, industrials, health care and enterprise data. Now SurgoCap’s assets put it in the same league as Bobby Jain ’s eponymous fund, which debuted with $5.3 billion in 2024 and Diego Megia ’s $7 billion firm that launched the same year. Read More: Hedge Fund Debuts in Biggest Launch Led by a Woman The Lone Pine Capital veteran has intentionally kept the size of SurgoCap’s investment team small enough to sit around a table, she said in a podcast that aired this week. “Jeff Bezos has talked about two-pizza-box teams,” Gaonkar said on the In Good Company podcast , in which Nicolai Tangen , who heads Norway’s sovereign wealth fund, introduced her as running a $6 billion firm. “I think we like to stay in one pizza box in terms of team size.” The smaller team is “so fruitful for new idea generation,” she added. “There is something about human collaboration that works best in smaller scale.” A representative for Gaonkar didn’t immediately respond to a request for comment. Few startup hedge funds have swelled so quickly in recent years, partly because of pullback from US pensions and endowments that have cash stuck in private equity. Still, some have succeeded, including Divya Nettimi ’s Avala Global , which doubled its size since its 2022 launch and now oversees $2 billion. Michael Gelband , who opened his ExodusPoint Capital Management with $8 billion in 2018, still holds the title for the industry’s biggest launch. His firm now manages $11.9 billion. Gaonkar, born in the US and raised mostly in Bengaluru, India, worked at Steve Mandel ’s Lone Pine for more ...
While stocks and Treasurys put in a partial recovery after President Trump’s pivot on Greenland, the greenback struggled to keep pace and booked its worst week in eight months.
While stocks and Treasurys put in a partial recovery after President Trump’s pivot on Greenland, the greenback struggled to keep pace and booked its worst week in eight months.
↘️ Intel (INTC): The chip maker swung to a bigger-than-expected loss and forecast more losses this quarter. Shares slid 17%. ↗️ Booz Allen Hamilton (BAH): The consultancy raised its annual profit outlook, prompting a 6.
↘️ Intel (INTC): The chip maker swung to a bigger-than-expected loss and forecast more losses this quarter. Shares slid 17%. ↗️ Booz Allen Hamilton (BAH): The consultancy raised its annual profit outlook, prompting a 6.
February Nymex natural gas (NGG26 ) on Friday closed up by +0.230 (+4.56%). Feb nat-gas prices settled sharply higher on Friday but remained below Thursday's 3-year nearest-futures high. Nat-gas prices have surged this week as a historic winter storm that will dive into the US this weekend will boost heating...
February Nymex natural gas (NGG26 ) on Friday closed up by +0.230 (+4.56%). Feb nat-gas prices settled sharply higher on Friday but remained below Thursday's 3-year nearest-futures high. Nat-gas prices have surged this week as a historic winter storm that will dive into the US this weekend will boost heating...
A right between the United States and Europe over the future of Greenland sent the S & P 500 for a loop this week, only to see the broad market index end the holiday-shortened period just shy of where it started. Over the weekend, President Donald Trump ramped up his efforts to annex the Danish territory of Greenland by threatening to impose new tariffs on imports from eight European nations that ...
A right between the United States and Europe over the future of Greenland sent the S & P 500 for a loop this week, only to see the broad market index end the holiday-shortened period just shy of where it started. Over the weekend, President Donald Trump ramped up his efforts to annex the Danish territory of Greenland by threatening to impose new tariffs on imports from eight European nations that opposed the move. The duties – targeting long-time allies Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland – were set to take effect on Feb. 1, starting at 10%. Traders returning from the Martin Luther King Jr. holiday found the market in a tailspin. On Tuesday, the benchmark S & P 500 tumbled about 2% , as did the Nasdaq Composite . The Dow Jones Industrial Average slumped 870 points. All that changed Wednesday, when the president announced that he and NATO Secretary General Mark Rutte had "formed the framework of a future deal with respect to Greenland" and removed the threatened tariffs. In response, U.S. stocks surged Wednesday and the rally continued Thursday, leaving the the S & P 500 lower by just a fraction on the week. .SPX mountain 2026-01-20 S & P 500 since Jan. 20 "The big question last week was, 'Why weren't markets really reacting to a lot of these issues until they did this week?'" Tom Garretson, senior portfolio strategist at RBC Wealth Management, asked in an interview on CNBC. "Tariff threats will be there but, at the end of the day, the administration's broadly seen the negative market impact. I think the market is kind of relying on the idea that if they do push too far on the tariff threats and whatnot, that they'll start pulling back." In other words, the market no longer thinks all of Trump's declarations are going to be implemented, said Jed Ellerbroek of Argent Capital Management. If investors thought they were, the market would've posted a much bigger loss than the 2% seen on Tuesday, he added. "It's just ex...
Broadcom (NASDAQ: AVGO) stock slipped in Friday's trading. The semiconductor company's share price ended the daily session down 1.5% and had been down as much as 3.5% earlier in trading. The S&P 500 closed the day up 0.2%, and the Nasdaq Composite was up 0.6%. Broadcom's valuation today lost ground today in response to an earnings report from another major player in the semiconductor market. Despi...
Broadcom (NASDAQ: AVGO) stock slipped in Friday's trading. The semiconductor company's share price ended the daily session down 1.5% and had been down as much as 3.5% earlier in trading. The S&P 500 closed the day up 0.2%, and the Nasdaq Composite was up 0.6%. Broadcom's valuation today lost ground today in response to an earnings report from another major player in the semiconductor market. Despite the pullback, the stock is still up 33% over the last year. Image source: Getty Images. Continue reading
CORYDON, Ind., Jan. 23, 2026 (GLOBE NEWSWIRE) -- First Capital, Inc. (the “Company”) (NASDAQ: FCAP), the holding company for First Harrison Bank (the “Bank”), today reported net income of $16.4 million, or $4.89 per diluted share, for the year ended December 31, 2025, compared to net income of $11.9 million, or $3.57 per diluted share, for the year ended December 31, 2024.
CORYDON, Ind., Jan. 23, 2026 (GLOBE NEWSWIRE) -- First Capital, Inc. (the “Company”) (NASDAQ: FCAP), the holding company for First Harrison Bank (the “Bank”), today reported net income of $16.4 million, or $4.89 per diluted share, for the year ended December 31, 2025, compared to net income of $11.9 million, or $3.57 per diluted share, for the year ended December 31, 2024.
In trading on Friday, shares of Linde PLC (Symbol: LIN) crossed above their 200 day moving average of $451.57, changing hands as high as $451.98 per share. Linde PLC shares are currently trading up about 1.3% on the day. The chart below shows the one year performance of LIN sh
In trading on Friday, shares of Linde PLC (Symbol: LIN) crossed above their 200 day moving average of $451.57, changing hands as high as $451.98 per share. Linde PLC shares are currently trading up about 1.3% on the day. The chart below shows the one year performance of LIN sh
In trading on Friday, shares of Liberty Global Ltd. - Class Chares (Symbol: LBTYK) crossed above their 200 day moving average of $10.86, changing hands as high as $10.97 per share. Liberty Global Ltd. - Class Chares shares are currently trading up about 3.4% on the day. The ch
In trading on Friday, shares of Liberty Global Ltd. - Class Chares (Symbol: LBTYK) crossed above their 200 day moving average of $10.86, changing hands as high as $10.97 per share. Liberty Global Ltd. - Class Chares shares are currently trading up about 3.4% on the day. The ch
In trading on Friday, shares of Banner Corp. (Symbol: BANR) crossed below their 200 day moving average of $63.73, changing hands as low as $61.30 per share. Banner Corp. shares are currently trading off about 7.1% on the day. The chart below shows the one year performance of B
In trading on Friday, shares of Banner Corp. (Symbol: BANR) crossed below their 200 day moving average of $63.73, changing hands as low as $61.30 per share. Banner Corp. shares are currently trading off about 7.1% on the day. The chart below shows the one year performance of B
S&P Global Ratings upgraded the outlook on the Democratic Republic of Congo’s sovereign credit rating, as the country prepares its first-ever eurobond offering. It raised the outlook on Congo’s B- rating — six notches below investment grade — to positive from stable, according to a statement on Friday. “The positive outlook reflects our expectation that DRC will make further progress on improving ...
S&P Global Ratings upgraded the outlook on the Democratic Republic of Congo’s sovereign credit rating, as the country prepares its first-ever eurobond offering. It raised the outlook on Congo’s B- rating — six notches below investment grade — to positive from stable, according to a statement on Friday. “The positive outlook reflects our expectation that DRC will make further progress on improving tax administration and fiscal outcomes, benefiting from positive terms of trade, volume export growth, and external policy anchors, including DRC’s Extended Credit Facility Arrangement with the IMF,” S&P said. Congo plans to raise $750 million in a dollar-debt sale to take place as early as April, with another sale of the same amount proposed by the end of the year. The funds will be spent on energy and infrastructure projects, as the Central African nation that ranks as the world’s biggest cobalt producer and the second-largest copper miner looks to capitalize on surging commodity prices. Read More: Congo Plans to Raise $750 Million With Maiden Eurobond Sale The improved outlook and rating affirmation may attract investors already lured by its low-inflation environment and one of the lowest ratios of debt to gross domestic product in the world, but are cautious about continuing conflicts in Congo’s mineral-rich eastern regions. Both S&P and Moody’s Ratings have held meetings with Congo’s finance ministry as the country prepares the eurobond offering, Finance Minister Doudou Fwamba Likunde said in a Jan. 21 interview. S&P last raised the country’s rating four years ago. Moody’s rates Congo B3 with a stable outlook. Citigroup Inc. is leading the eurobond sale with assistance from Congo’s Rawbank SA, while Rothschild & Co. and White & Case LLP are structuring the terms, according to the minister. The decision to improve the country’s outlook is “an important development for improving investor confidence as we prepare to tap international financial markets this year,” Fwamba L...
Watch: Convicted Minnesota Scammer Says Walz, Ellison Were Aware Of $250M Fraud The media has been giving quite a lot of attention to Aimee Bock, the head of a Minnesota nonprofit at the center of the largest pandemic relief fraud in the nation's history - which she now says Governor Tim Walz and AG Keith Ellison had to have known about. Minnesota Gov. Tim Walz speaks during a House Committee on O...
Watch: Convicted Minnesota Scammer Says Walz, Ellison Were Aware Of $250M Fraud The media has been giving quite a lot of attention to Aimee Bock, the head of a Minnesota nonprofit at the center of the largest pandemic relief fraud in the nation's history - which she now says Governor Tim Walz and AG Keith Ellison had to have known about. Minnesota Gov. Tim Walz speaks during a House Committee on Oversight and Government Reform hearing, June 12, 2025, at the U.S. Capitol in Washington. (AP Photo/Julia Demaree Nikhinson, File) To review; Bock's organization, Feeding Our Future, fraudulently signed off on $250 million in federal funds meant to feed underprivileged children in Minnesota roughly 125 million nonexistent meals. According to prosecutors, as little as 3% of the funds were actually used to feed children . Bock, 45, was charged with signing off on reimbursement claims for the unserved meals, as well as collecting bribes. She maintains her innocence, while one Somali community leader told a local reporter that Bock was "a modern-day Robin Hood." Feeding Our Future was a "sponsoring organization," meaning it approved meal sites, approved meal counts, and distributed the reimbursements to hundreds of sponsored food sites across the state which were mostly operated by Somalians that submitted fraudulent claims. However, in exchange for Bock's sponsorship and approvals (she sued the state for discrimination in November 2020, claiming the Department of Education was unfairly targeting minority-led programs), the Somalians paid kickbacks to Bock and other Feeding Our Future employees , prosecutors said. So far, 98 people have been charged in the fraud, 85 of whom are Somalians - unlike Bock , who is white. Hence the media focus on her. Over 64 of those charged have either pleaded guilty or been convicted at trial. Karen Undone Bock, who's awaiting sentencing and faces up to 33 years in prison , is now giving jailhouse interviews to mainstream outlets - telling CBS Ne...
Updated 16:34 ET with comments from DoorDash. Michael M. Santiago/Getty Images News DoorDash ( DASH ) and Uber Technologies ( UBER ) were unsuccessful in their attempt to block the implementation of a New York City law that requires a tipping option be given to customers at checkout. "Plaintiffs have not made the required showing of a likelihood of success on the merits, irreparable harm, or that ...
Updated 16:34 ET with comments from DoorDash. Michael M. Santiago/Getty Images News DoorDash ( DASH ) and Uber Technologies ( UBER ) were unsuccessful in their attempt to block the implementation of a New York City law that requires a tipping option be given to customers at checkout. "Plaintiffs have not made the required showing of a likelihood of success on the merits, irreparable harm, or that the balance of equities and public interest favor the extraordinary remedy of preliminary relief," said New York US District Judge George Daniels in his ruling. Beginning next week, a new NYC law will require delivery apps to prompt customers to include a tip of at least 10% to ensure minimum earnings for delivery drivers after a new minimum wage law went into effect in 2023. Delivery companies like Uber ( UBER ) and DoorDash ( DASH ) argue that a minimum gratuity forces customers to give a tip when one is neither earned nor necessary, while others claim that if a customer doesn’t leave a large enough tip at the beginning of the transaction, drivers won’t take the order. “Forcing platforms to solicit a tip before checkout at a time when New Yorkers are sick of tipping culture and facing a growing affordability crisis is bad policy—plain and simple,” a DoorDash representative said to the New York Post. Judge Daniels decision follows an allegation from the New York City Department of Consumer and Worker Protection (DWCP) that Uber Eats ( UBER ) and DoorDash ( DASH ) designed their platform to discourage tipping. According to a survey by WalletHub, nearly 90% of respondents believe tipping culture has “gotten out of control,” while 30% tip less when prompted for a suggested tip. “Allowing this law to take effect means we will likely see an immediate drop off in orders for New York’s small businesses, a worse experience for customers, and fewer overall deliveries for New York City dashers," a DoorDash spokesperson said to Seeking Alpha. "Forcing platforms to solicit a tip befor...