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Institutional Allocator News
IMRF plans $240M in allocations across Lightspeed, Base10, and Strategic Value Special Situations VI, while selecting Pretium, Mesirow, and S2 for $100M in real estate investments. LACERA committed $100M to Blue Sage Fund IV, marking its first PE allocation of the year. Allegheny County terminated EmStone and Etho Climate due to underperformance. Milford Pension invested $25M in Greywolf CLO and restructured its index allocations. Medford CRS committed $3M to PRIM ‘25 and narrowed its emerging markets equity search to ABS, Acadian, and City of London.
Wealth Allocator News
Seven Bridges Advisors, a $6.8B NYC RIA, is seeking a majority stake sale, with Houlihan Lokey leading the process. AlphaCore Wealth Advisory promoted Eric Gerster to CIO following its acquisition of Magnolia Lane Financial Advisors. Merchant Investment Management acquired Fin.Link, a valuation and RIA M&A planning platform. Perpetual ended its $1.4B sale negotiations with KKR, opting to sell its wealth unit separately. Standard Chartered plans a $1.5B investment to expand its wealth management business in Asia.
Private Fund News
HGGC filed for HGGC Fund V, following its $2.5B Fund IV close in 2022. Gemcorp Capital is raising $2B for an emerging markets private credit fund, focusing on sovereign infrastructure and commodity trade finance. Sculptor Capital secured $3B for its fifth real estate fund, attracting major public pension investments.
Other News
Apollo’s Redding Ridge is acquiring $11B CLO manager Irradiant Partners, elevating it to a top-five CLO manager. The deal expands Apollo’s private credit and renewables AUM by $2.2B, pending regulatory approval.
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