Search

S2G, a venture fund based in Chicago and backed by Walmart heir Lukas Walton, is seeking to raise a $1 billion fund by adding outside investors for the first time. The firm, which has been in operation for a decade, is spinning off as a separate entity from Walton's Builders Vision organization and has registered as an independent investment adviser with the U.S. Securities & Exchange Commission. S2G aims to raise $1 billion, with Walton providing about half the capital. This move will raise the fund's profile, attract talent, and increase the amount of venture capital available in Chicago. [Extracted from the article]

Chicago's economy is expected to continue growing in 2024, although at a slower pace than in 2023. Moody's Analytics predicts that Chicago will lag behind the national average in terms of output and job growth. However, the risks of recession have diminished, and the economy is expected to have a soft landing. The return to the workplace is a significant factor for the Chicago economy, with about 56% of workers back in the office. The tourism and hospitality sectors could receive a boost from major events such as the Democratic National Convention and trade shows. The retail and restaurant industries may benefit from lower interest rates and stable inflation. The healthcare sector is still recovering from the pandemic, and dealmaking could rebound if interest rates drop. The investment banking sector may see increased IPO volume, but private-equity funds and venture-capital investment are likely to remain weak. Financial markets are expected to rally in 2024, with improving inflation and potential interest rate cuts. The banking sector may benefit from lower deposit rates. Manufacturing growth may be weaker due to high interest rates, but the long-term outlook for the industry is positive. The new Gotion battery plant could be a growth engine for the manufacturing sector. [Extracted from the article]

Chicago-based BA Investment Advisors is under contract to buy the eight-story former Kendall College building at 900 N. North Branch St., according to sources familiar with the deal. A Chicago real estate firm that has invested heavily in suburban office buildings since the start of the COVID-19 pandemic is about to pick up an empty one closer to downtown, betting on the future of Goose Island and a boost that may come from a planned Bally's casino and entertainment complex nearby. [Extracted from the article]

The buyout of Smith Graham & Co. Investment Advisors, which has $3.4 billion under management, is Loop Capital's second asset management deal of 2022. Loop Capital, one of Chicago's highest-profile Black-owned financial services firms, has acquired a New York-based asset manager, bringing Loop's assets under management to over $10 billion. [Extracted from the article]