Blackstone Eyes Return to GP Stakes Hunt, and more…

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Institutional Investor News

Dakota tracked $1.2B in April RFPs from 11 institutional investors, matching March's volume. Key mandates included Callan’s $300M real estate JV search and Oklahoma Police Pension’s $225M international equity search. Norges Bank committed $800M to Blackstone’s logistics fund, while Connecticut Trusts eyed $775M in private market commitments. LACERS, LSERS, and Manchester ERS made notable moves. Leadership changes include Chris Hagan rejoining PacSuper as CEO and Bola Olusanya named CIO at the MacArthur Foundation. UK pension trust ratings slightly declined.

Wealth Channel News

Hightower Advisors made its first 2025 deal, investing in $3.8B Lindbrook Capital, led by ex-Oppenheimer advisors. The deal is expected to be outgoing CEO Bob Oros’s final acquisition, with Larry Restrieri incoming. Recent deals include Dechtman Wealth and FPIS. Other highlights: Advisory Services Network added Harris Wealth ($250M AUM); MPact Capital launched in Charlotte; Raymond James recruited TPG Wealth ($450M AUM); and Emigrant Bank appointed Mark Rogozinski to lead family office services. RIA expansion and advisor mobility continue.

Alts Asset Manager News

Blackstone is relaunching its GP stakes strategy, targeting a fund larger than 2021’s $5.6B vehicle. Existing portfolio includes GTCR, Sentinel, and Leonard Green. Former head Mustafa Siddiqui launched SQ Capital, while peers like Bonaccord, Hunter Point, and Blue Owl escalate fundraising. In Q2 fundraising, BlackRock, Crestline, DFJ Growth, and VMG Partners closed large funds, with Nexa, Fifth Corner, and Octopus Energy active in niche sectors. LP interest in GP stakes is rising, reflecting mainstream adoption and direct stake appeal.