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Institutional Allocator News
Illinois Firefighters' Pension Investment Fund launched an RFP for a $500M emerging markets large-cap ex-China mandate, with proposals due April 4. New York State Common Retirement Fund reportedly sold $5.5B in private fund stakes to Blackstone’s Strategic Partners. New York City Police Pension Fund committed $185.3M to three infrastructure funds, including ASF IX Infrastructure B and Actis Energy 6. New York City TRS allocated $150M to AEW Partners Real Estate Fund X. Pembroke Pines OPEB Trust (FL) issued an RFP for a $44M core fixed income manager, with responses due April 22. Mass Housing Finance Agency Retirement System launched a $30M fixed income search, accepting proposals until March 21. Holyoke Retirement Board allocated $32M to PPM America and $20M to Putnam/Franklin Templeton, finalizing its liquid core fixed income search. Boston Water & Sewer Commission seeks direct lending managers for a $4M private credit allocation, with responses due March 27.
Wealth Allocator News
HUB International recruited advisors Steve Glasgow and Jordan Sibler from Janney Montgomery Scott, acquiring their books of business. UBS Wealth Management added a $330M team from Merrill Lynch in Peabody, MA. Sheaff Brock Investment Advisors welcomed back advisor Michelle Reddick from JPMorgan, appointing her Portfolio Solutions VP.
Private Fund News
Blackstone raised $8B for its Real Estate Debt Strategies V (BREDS V) fund, matching its record-setting predecessor. Foundation Capital closed $600M for Fund XI, targeting early-stage fintech, enterprise tech, and crypto startups. Brasa Capital Management secured $582M for its third real estate fund, below its $750M target but marking a record fundraise for the firm. Trust Ventures is seeking $225M for Fund IV, following its $200M predecessor.
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