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In August, investors continued to favor yield-generating real assets and scaled AI infrastructure platforms, signaling a late-cycle focus on durability, innovation, and selective risk-taking.
The August 2025 Dakota Monthly Roundup highlights the month’s largest fundraises, allocator commitments, and cross-sector M&A tracking how institutional capital is navigating macro uncertainty and structural shifts.
Key Insights:
Real Estate Dominance: $1.4B allocated by Challenger Life to Charter Hall, and $1.33B by CPP Investments to Japan DC Partners I, positioning real estate as the top recipient of institutional capital.
AI Mega-Raises: OpenAI raised $8.3B; Cohere, Cognition, and Runway each secured $500M+; Vast Data in talks for funding at a $30B valuation.
Private Credit Strength: PGIM closed $4.2B for senior loans; Anchorage raised $1.5B in distressed; Crescent and SeaTown advanced new continuation and Asia-focused strategies.
Allocator Strategy: Institutions pursued a “barbell” approach—core real estate and direct lending on one side, liquid macro and tech-driven growth on the other.
M&A Breadth: August deals spanned tech (Enverus, MeridianLink), healthcare (SpringWorks, DBG Global), sports/media (Skydance x Paramount, Trail Blazers), and energy (Duke Energy Florida, Iberdrola, ConocoPhillips).
Written By: Dakota Research
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