Under-the-radar hedge funds to watch — Why stocks only go up — Goldman banker jumps to Instacart

TGIF.

We are *checks calendar* one week into 2021, and I am already exhausted. 

And while the entire world is focused on everything going on in Washington, D.C., one group seems unperturbed:  investors.

The US equity markets continue to rise, seemingly unbothered by the Capitol building being overrun. In reality, it's a bit more complicated than that. Ben Winck with a nice recap on why stocks keep going up. 

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Like the newsletter? Hate the newsletter? Feel free to drop me a line at [email protected] or on Twitter @DanDeFrancesco. 

Read the full memo naming the new co-heads of Goldman Sach's powerhouse tech team

One of the biggest Wall Street stories of the day was the departure of Goldman Sachs top tech dealmaker Nick Giovanni. The global head of Goldman's high-profile technology, media, and telecom (TMT) group is headed off to Instacart, a Goldman client, to serve as its CFO as it prepares for an IPO this year.

Giovanni's exit left a hole to be filled, and Goldman wasn't looking to wait around. On Thursday, the bank named Sam Britton and Matt Gibson co-heads of the group. 

If you're a reader of this newsletter, at lease one of those names will look familiar. Britton, who previously was the co-head of M&A for TMT at Goldman, spoke with Reed Alexander in December about trends to watch in tech dealmaking in 2021. 

He's now at the helm with Gibson, who was the co-head of investment-banking services and co-head of the firm's One Goldman Sachs initiative.

Get the low down on Britton and Gibson, the business they are adopting, and the memo announcing the move.

Click here to read the entire story.

Here are under-the-radar hedge fund managers who crushed 2020

Who doesn't love a good dark horse? You might not have heard of these funds, but they had a great 2020 and are well positioned to do big things in 2021. Check them out here. 

The co-heads of Goldman Sachs' $1.8 trillion money manager reveal their playbook

Take a peak behind the curtain at Goldman Sachs Asset Management. Craig Russell and Luke Sarsfield, who co-head GSAM's client business, detail how the $1.8 trillion asset manager is positioning itself. Read more here.

Square's head of sales reveals the in-store payment giant's playbook

In-store transactions grew by 1% year-over-year among Square customers.Square

Square's little white box has been pretty ubiquitous at small businesses. Ashley Grech, global head of sales at Square, spoke about how the company is looking to help merchants bridge the gap between online and in-store spend. Read more here. 

Facebook hires prosecutor who helped the US government go after Goldman in the 1MDB case to work on 'special investigations' 

A prosecutor who played a leading role in the US Department of Justice investigation of the multibillion-dollar bribery scandal tied to the investment fund 1MDB has quietly taken a role at Facebook leading "special investigations." See the full story here. 

Biden's pick for the Department of Homeland Security raked in millions at WilmerHale advising Blackstone, Airbnb, PNC

Some compensation disclosures regarding what Alejandro Mayorkas, who is President-elect Joe Biden's pick to lead the Department of Homeland Security, made at WilmerHale. Get the full rundown.

Odd lots:

SoFi to go public via SPAC backed by billionaire investor Chamath Palihapitiya (BI)

Hedge fund founder Paul Marshall calls pro-Trump rioter's death 'murder', then deletes tweet (Financial News)

Federal Investigators Probing AmEx Card Sales Practices (WSJ)

Robinhood Wants More Female Investors. So Does Everyone Else. (WSJ)

Learn more about the financial services industry.

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