Blackstone Defies Fundraising Drag, Ramps Up Strategy Rollouts, and more...

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Institutional Investor News

Japan’s Government Pension Investment Fund (GPIF) posted a modest 0.71% return for FY2024, driven by strong foreign equity gains offsetting domestic bond losses. Despite impressive performance from its alternatives sleeve—particularly private equity and infrastructure—GPIF remains cautious on significantly expanding its exposure to private markets, citing concerns around consistent excess returns. The fund maintains a long-term strategic allocation with alternatives capped at 5% and current exposure at 1.63%. Elsewhere, public pensions and sovereign wealth funds are adjusting allocations: SDCERS shifted weight to infrastructure, UK LGPS committed £118M to affordable housing, and CPP Investments exited a major Indian real estate platform, signaling evolving global strategies amid macroeconomic volatility.

Wealth Channel News

Global wealth migration is accelerating, with a record 142,000 high-net-worth individuals expected to relocate in 2025, reshaping private wealth flows and asset management strategies. The UAE remains the top destination, bolstered by favorable tax and regulatory regimes, while the UK leads in outflows due to policy shifts. This mobility trend is influencing how RIAs and family offices position themselves geographically and structurally. In the U.S., new RIAs are emerging, including Ducere Wealth in California and Greenstone Belt in Chicago, as advisors continue breaking away. Meanwhile, talent moves from UBS, Raymond James, and AmeriFlex highlight ongoing churn in the advisor landscape and the push toward independence and digital innovation.

Private Fund News

IK Partners closed its €2B Small Cap IV Fund at hard cap, marking its largest vehicle in the strategy and underscoring sustained investor appetite for European lower-mid-market buyouts. With 80% of commitments from existing LPs, the fund reflects confidence in IK’s localized sourcing and sector expertise across business services, healthcare, and industrials. In private equity, Elad Gil is reportedly raising up to $2B for a solo tech fund, while India’s Yali Capital closed a $103M debut deep tech fund. On the credit side, Roc360 launched a $150M insurance-dedicated real estate fund, and Tecum Capital received SBA approval for a $325M SBIC fund targeting mezzanine and minority stake investments.

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