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

Blackstone is paying millions in fees to its former dealmaker 

Ethan Miller/Getty Images; Demetrius Freeman/Bloomberg via Getty Images; Samantha Lee/Business Insider

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.

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

REUTERS/Yuri Gripas

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.

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The ironclad private-equity recruiting cycle may be cracking

The Carlyle Group

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. 

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

Thomas Concordia/Getty Images

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. 

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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

Anonymous/Facebook

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. 

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Odd lots:

Overvalued Startups Could Be ‘Shorted’ by New Firm (WSJ)

Robinhood Is Losing Thousands of Traders to a China-Owned Rival (Bloomberg)

Airbnb and DoorDash IPOs Will Use a ‘Hybrid Auction.’ What That Means—and Why It Matters. (Barron’s)

Wealthfront names former banking regulators Sheila Bair and Thomas Curry to fintech’s advisory group (CNBC)

These Clothes Are Hip to Be Square (WSJ)

Exclusive: Online lender SoFi explores deal to go public – sources (Reuters)

Morgan Stanley edged out another firm for Eaton Vance, filing shows (Boston Business Journal)

How hedge funds lost big on US dollar Libor delay (Risk)