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Stay ahead of the latest trends in wealth management, institutional investing, and private markets with Dakota’s daily newsletter — your go-to source for key updates on fund allocations, manager moves, and industry shifts.
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Institutional Allocator News
The Los Angeles Fire & Police Pension System is considering up to $500M in infrastructure commitments for 2025, split between strategic and tactical infrastructure investments. Dahab Associates issued an RFP for two Connecticut pensions seeking $20M in core plus fixed income mandates, while North Carolina's Department of State Treasurer appointed Ty Powers as investment director overseeing multi-strategy assets. Kentucky Teachers Retirement System committed $185M across three alternative funds, and Wayne County Employees Retirement System hired four managers for a $60M CLO allocation.
RIA & Wealth Channel News
Raymond James has recruited Alaska-based advisor Al Biss and his $320M client book from Edward Jones. Biss Wealth Partners, which includes client associate Vanessa Carpenter, focuses on serving high-net-worth pre-retirees, retirees, and business owners. The Anchorage-based team is RayJay’s fourth major recruitment in a week, following advisor hires in Alabama, Florida, and Southern California.
Private Fund News
ICG closed its second Europe Mid-Market Fund at €3B ($3.25B), tripling its predecessor’s size and securing commitments from Florida SBA, Pennsylvania PSERS, and Connecticut CRPTF. Castlelake closed its largest aviation fund at $2B, with commitments from major pensions, including NYS Common, Maryland SRPS, and Louisiana TRS. Ribbit Capital filed for two new funds, targeting a combined $1.15B, while True Wind Capital is raising its third fund following an $817M close for Fund II in 2021. Foresight Evergreen Fund reached £100M ($129.4M) at second close with a £50M ($64.7M) pledge from Avon Pension Fund to support growth investments in South West England.
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