Alternative Investing Report - August 4, 2025

*as of 8/3; Sources: S&P, BTC, FTSE, DJRE, GOLD

The July jobs report showed that U.S. employers added just 73,000 jobs last month, below the 115,000 expected. What’s more, the government revised May’s numbers down from 144,000 to 19,000 and June’s from 147,000 to 14,000. In response to the disappointing numbers, President Trump fired the head of the Bureau of Labor Statistics, accusing her of manipulating the data in the report. The market seemed to believe the data, with equities indices dropping 1-2%, and crypto falling 3%.

➨ TAKEAWAY: With inflation ticking back up and disappointing job results, it looks like the predicted effects of Trump’s tariff and immigration policies are starting to materialize. Several prominent economists now say that the country could be on the verge of a recession. Looking on the bright side, a weaker labor market could prompt the Federal Reserve to cut interest rates, which would be good for investors in a number of asset classes.

Last week, the entertainment investment firm Harbourview Partners raised a $630 million music royalties fund, which was well above its initial fundraising target. This raise came on the heels of the announcement that it bought a portion of music and entertainment superstar Kelly Clarkson’s catalog, adding to its stable that also includes Pat Benatar, Nelly, and T-Pain.

➨ TAKEAWAY: Since 2019, more than $20 billion has been spent acquiring music rights, with major alternative asset managers such as Blackstone, BlackRock, and Apollo getting involved. Private equity firm Bridgepoint just invested $150 million in a venture to buy music rights from music producers. Several platforms and managers already offer everyday investors access to music royalty investments, but expect more opportunities in the future as the asset class keeps developing.

🪙 Project Crypto: The SEC launched a new initiative — “Project Crypto” — designed to update securities rules and regulations in order to allow for crypto-based trading and take another step towards the tokenization of the U.S. financial system.

🚀 Enterprise fintech trending up: The sector saw $6.1 billion in fundraising in Q2, its best fundraising quarter in more than two years, though deal count fell by 13%, as VCs place bigger bets on fewer startups.

🏢 Semi-urban growth: Semi-urban areas - a mix between urban and suburban areas - now have the highest share of multifamily homes in the U.S., and have seen the highest growth in that category over the past decade.

💵 KKR’s new credit fund: The investment giant announced a new $6.5 billion fundraise for its asset-based private credit strategy, which focuses on credit investments backed by financial and hard assets, more than double the size of its prior fund with the same strategy, .

🏡 Home prices falling: The median home sale price fell in 14 of the top 50 metro areas in the past week, and the nationwide asking price fell to its lowest level in five months.

🤖 Amazon invests in Fable: The tech giant’s VC arm is investing in the AI-generated TV show startup, which lets users create scenes and episodes from a simple text prompt.

This week: Firefly Aerospace is expected to go public at a valuation of as high as $5.6 billion.

Wednesday: Goldin’s first entertainment memorabilia auction, featuring one of Indiana Jones’ whips from “Raiders of the Lost Ark.”

Thursday: Consumer credit report released; Heritage’s “Art of Disney” auction, featuring original artwork from dozens of animated classics.

Saturday: Goldin’s July Elite Auction, featuring a Caitlin Clark card that could become the most expensive women’s sports card ever.