Business cable network CNBC announced that it will begin a new segment called “Power & Money” that will run throughout the day and be devoted to private equity and hedge funds, according to a release.
The segments will be reported using the banner “Power & Money: Inside the World of Hedge Funds and Private Equity.” The segments will be seen on all CNBC programming, including “Squawk Box,” “Power Lunch” and “Closing Bell” and “On the Money.”
CNBC will turn its reporting team loose on the fast-growing world of hedge and private equity funds. The team will be led from CNBC headquartersin Englewood Cliffs, N.J. by assistant managing editor Steve Lewis, who produced the five-part 2005 series “Hedge Fund Heat.”
Assets in hedge funds, for instance, have more than doubled in just the past five years, and private equity funds are now among Wall Street’s biggest dealmakers. CNBC, in collaboration with The Wall Street Journal and Dow Jones, will not only report breaking news on these market-moving investment companies but also will present features on the people who run them and the big-money investors who have flooded them with capital.
The hedge and private equity fund industry has significant relevance to the viewers of CNBC—business executives and financial professionals,” CNBC senior vice president Jonathan Wald said in the release. “By increasing our coverage not only of the industry, but also the people who run it and the big-money investors, we are ensuring our viewers are kept abreast of the important information they need to make business decisions.”
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