Kansas RIA Goes Solo After 26 Years with RayJay, and more…

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Institutional Investor News

Ontario Teachers’ Pension Plan reported a 2.1% net return in H1 2025, adding CAD 6B ($4.4B) in value despite a cautious stance amid market volatility and trade tensions. Gains were driven by public assets—particularly gold—while private assets were flat to negative. CEO Jo Taylor cited a diversified, globally balanced approach and warned against overreacting to short-term headlines. OTPP remains fully funded with a CAD 29.1B surplus. Recent activity includes Rolls-Royce’s £4.3B pension buy-in with PIC, BCI’s $2B PE secondary sale, Norges Bank’s divestments from Israeli firms, and commitments from U.S. pensions and endowments to PE, infrastructure, and real asset funds.

Wealth Channel News

Keating Financial Advisory Services, a $2B Manhattan, KS-based firm with 30 advisors, has gone independent after 26 years with Raymond James, retaining RayJay as a custodian while adding Schwab. President Ryan Mann said the move will accelerate recruiting and geographic expansion. The 65-employee RIA operates multiple branded teams and has managed its own 401(k) business since 2007. New RIA launches include Granite Islands Private Wealth in CT, founded by ex-Hightower advisors. M&A activity saw Steward Partners acquire $481M Longbridge Wealth Advisors, while Littlejohn & Co. eyes its first RIA investment. Carson Group also launched a private client services group for $10M+ UHNW clients.

Private Fund News

StepStone Group will launch its first private asset indices with FTSE Russell later this year, initially covering PE and infrastructure. The indices aim to improve benchmarking and transparency as U.S. DC plans prepare for potential private market access. StepStone ended Q1 fiscal 2026 with $199.3B AUM, up 18% YoY, despite a quarterly net loss. Fund activity included JMI Equity’s $3.1B Fund XII close, Headlands’ new secondary fund, and O.H.I.O. Fund’s $106M impact vehicle. In VC, Activate Capital nears $250M for its $500M climate fund, Team8 targets $250M–$300M for its third fund, and Lavni Ventures launched Fund II targeting deep-tech startups.

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