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Institutional Allocator News
SFERS adopted a $2.55B private markets pacing model for 2025, targeting $1B each for private equity and private credit, plus $500M for real assets. It also committed $100M to Qube Fund in its absolute return portfolio. LADWP is considering $2.3B in PE, PC, and RE commitments. Franklin Regional Retirement issued an RFP for a $22M active core fixed income mandate, due April 24. TRS Illinois retained StepStone as its PE and RE/real assets consultant. CalSTRS is interviewing Meketa and RVK for its general consultant search. Chicago PABF voted to terminate Columbia Threadneedle as a PE manager, liquidating up to $60M.
Wealth Allocator News
Five Eleven Partners launched as a bespoke UHNW family office, co-founded by Andrew Crofton (Klingenstein Field Advisors) and Scott Essex (Partners Group). Blackstone is reportedly exploring RIA investments. LinePoint Partners debuted as a platform for independent UHNW advisors and SFO executives, led by ÉO Management’s Andrew Sternlight and Robertino Coury. Procyon Partners added Massimo Santucchia and Katherine Gallagher as senior VPs, heads of US equities. LPL Financial completed its $7B Investment Center acquisition, while Seventy2 Capital recruited a $1.2B team from Wells Fargo.
Private Fund News
Brookfield closed its first $1B middle-market infrastructure fund, with PA PSERS committing $250M. PGIM Real Estate secured 60% of its $1.25B APAC Value-Add Fund V. Comvest Credit Partners raised $650M for its second middle-market CLO. Riverside Company is targeting $550M for its second value buyout fund, surpassing its $350M predecessor. Syz Capital partnered with Coinbase to launch the Syz Capital BTC Alpha Fund, a crypto hedge fund of funds backed by 2,000 bitcoins ($180M).
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