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    Asia embraces alts

    Late start may benefit Asian investors

    The growing ranks of large Asian institutional investors making initial allocations to hedge funds and private markets will provide a boost for global fund-of-funds firms.

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    U.S. energy companies spent $7.4 billion on capital projects over the 12-month period ended March 31, on a market-cap-weighted basis, down about 44% from the same period in 2016.

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    U.S. energy companies spent $7.4 billion on capital projects over the 12-month period ended March 31, on a market-cap-weighted basis, down about 44% from the same period in 2016. Exxon Mobil, the group's largest constituent, cut its capital spending by $9.8 billion, while Chevron cut spending by $11.6 billion over the 12-month period.