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Institutional Allocator News
The Ohio STRS approved a new asset mix reducing equities and real estate, while boosting private credit (to 10%), liquid alternatives (to 7%), and core plus fixed income (to 21.5%), per Meketa’s recommendations. Arizona Retirement also revised its allocation targets, raising private equity to 13% while adjusting credit and real estate exposures and adopting new benchmarks for its PE and credit portfolios. Westfield CRS launched $24M in small-cap growth and value manager searches, and Weymouth Retirement issued an RFP for a $15M diversified real assets mandate, both advised by Fiducient. CalSTRS and Mubadala jointly committed $215M to CRE lender 3650 Capital, expanding allocations to real estate credit. New Mexico SIC committed $200M to Invictus and Atlas private equity funds, growing its $4.5B PE portfolio. Bristol County narrowed its large-cap value search to four managers, preparing to award a $75M mandate.
RIA & Wealth Channel News
LPL Financial recruited $600M Tennessee team Oxford Oaks Capital from UBS, following the addition of Legacy Premier Wealth earlier this month. Janney Montgomery Scott brought on Matt Clark from Merrill Lynch as SVP in Chicago, expanding its wealth presence. UBS Wealth Management hired Amani Harris from Morgan Stanley, where he managed $180M, continuing its recruitment streak after adding Lin Reynolds earlier in March.
Private Fund News
Olympus Partners closed its eighth flagship private equity fund at $3.5B, bringing its total raised to over $12B. AlbaCore Capital secured $1.8B at first close for its senior direct lending fund, backed by ADIA and Mitsubishi UFJ. PAG closed its third significant risk transfer fund at $1.25B, continuing its focus on uncorrelated credit exposure in the Asia Pacific. Norvestor completed a €500M raise for Nova I, its maiden lower-middle-market strategy. Align Capital closed $233M for its first independent sponsor fund, backing deal-by-deal investors.
Other News
Arctos Partners launched Arctos Keystone Real Assets, a new business unit focused on real estate and real assets, with a team recruited from Crow Holdings. The new group will operate from Arctos’ upcoming Boston office, joining its sports and alternative asset management platforms.
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