Banking

Infrastructure plan’s big winners on Wall Street

Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:

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The big investors who are hungry for more infrastructure investment opportunities

Biden

President Joe Biden

Doug Mills-Pool/Getty Images


Pension funds have contributed to the 10-year rise in invested infrastructure assets. Here’s why the massive infrastructure plan could be a big boost. 

Click here to read the entire story.


Digital-lending startup Blend just raised $360 million in its IPO. Read the initial investment memo from one of its VC backers.

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Nima Ghamsari, founder and CEO of Blend

Blend


Read an early investment memo on Blend written by Greylock Partners’ Jerry Chen. Here’s the full memo.


6 charts show which banks are dominating the SPAC gold rush

SPAC popularity in real esate tech world 4x3



Samantha Lee/Insider


There were 386

SPAC
IPOs in the first half of 2021, putting this year already well ahead of the 256 SPAC IPOs in all of 2020. Get inside the numbers here


Must-know promotions, exits, and hires at firms like Credit Suisse, JPMorgan, and Barclays

Kirk Kaludis



Barclays


Raymond James hired managing director David Barcus to lead its high-yield capital markets practice. Kirk Kaludis, who had been Credit Suisse’s Americas head of technology banking, will be RBC’s global head of technology investment banking. These are the people moves you need to know.


 Odd lots:

Making of a Mortgage King Hinges on Super Bowl Ad, Cards (Bloomberg)

Goldman Sachs to require staff to wear masks from Monday (BBC)

Bank of America Approves Bitcoin Futures Trading for Some Clients: Sources (Coindesk)

McDonald’s Workers And Junior Wall Street Bankers Are Seeing Huge Increases In Compensation (Forbes)

Morgan Stanley Legal Chief Demands Law Firms Return to Office (Bloomberg)

This Y Combinator founder is selling his startup as an NFT as a way to ’embrace failing,’ with bids starting at $96,000 (Insider)


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