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Institutional Allocator News
A NCPERS study found that public pensions increased allocations to alternatives and fixed income in 2024 while reducing public equities from 49.6% to 41.5%. New Mexico SIC is committing $1B across private equity, private credit, real estate, and venture while reviewing eight ex-US equity managers for allocations. Montana Board allocated $50M to Silver Creek Aggregate Reserves Fund, adding to its $943M real assets portfolio. Houston Firefighters committed $50M to Blackstone Capital Partners Asia III while terminating Bridgewater, BNY Mellon, and Schroders. Wisconsin BCPL allocated $25M to PGIM Senior Loan Opportunities Fund II, following a $50M investment in Fund I. Ventura County committed $20M to Drive Capital Funds, split between early-stage VC and late-stage growth investments.
Wealth Allocator News
Cetera Financial Group completed the $12B AUA acquisition of Concourse Financial, integrating 350 financial professionals. Prudential Advisors appointed Pat Hynes as president, leading $60B in client assets.
Private Fund News
CAZ Investments launched its third professional sports investment fund, building on $485M raised across its first two funds. Blackstone closed its fourth energy transition PE fund at $5.6B, attracting Minnesota SBI’s $200M commitment. Obvious Ventures is targeting $400M for its fifth fund, supporting sustainability-focused startups. BAM Corner Point, backed by Balyasny Asset Management, is raising $350M for its AI-focused VC fund. McNally Capital filed for Fund III, following its $150M second fund, focusing on aerospace, defense, and industrial technology.
Other News
Genstar Capital is in talks to acquire First Eagle Investment Management from Blackstone and Corsair in a $4B+ deal.
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