KCERA Commits $95M, Hightower Names New CEO, and TPG Bullish on 2025 Fundraising

Welcome to Dakota’s Daily Investment News

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.

Designed for investment sales professionals and fundraisers, we deliver the insights you need to navigate the evolving landscape, track major investor activity, and identify new opportunities.

To read the full articles and access all Dakota News, subscribe for $399/year, or get it included with a Dakota Marketplace subscription.

Subscribe today and stay ahead of the competition!

Institutional Allocator News

KCERA committed $95M across private equity, credit, and real estate, with a $345M target for 2025 to expand private markets. The University of Alabama System allocated $80M to real estate and shifted assets from Southeastern Global Equity to Northern Trust MSCI ACWI IMI Fund to favor index investing. Memphis Light, Gas & Water is reviewing GQG, MFS, and Northern Trust for a $46M international equity mandate after its previous manager underperformed. Oklahoma Firefighters approved a $20M co-investment in Adams Street Co-Investment Fund VI, reinforcing its private equity exposure.

Wealth Allocator News

Hightower Advisors appointed Larry Restieri as its next CEO, succeeding Bob Oros in March 2025. LPL Financial recruited a $300M Ameriprise team in Arizona. Stolper Asset Management and DCH Financial merged to form Wealth Oklahoma, strengthening Raymond James’ presence. Cetera Financial Group expanded its credit union partnerships, securing a networking agreement with Mainstreet Credit Union in Kansas City. These leadership changes and strategic moves reflect major shifts in wealth management.

Private Funds

TPG expects strong 2025 fundraising, launching a new evergreen private equity fund and its second GP-led secondaries fund. KKR’s North America Buyout Fund XIV has raised $14B toward its $20B target ahead of an imminent first close. PSG closed $8B across two funds, while Invesco secured $1.4B for its latest direct lending fund. EQT launched Nexus Infrastructure, expanding its evergreen fund lineup. IMB Partners surpassed its $100M fundraising goal, closing its first institutional fund at $125.5M.

Other News

Adams Street expanded into Canada, opening a Toronto office to strengthen investor relationships. Capricorn Investment Group backed Closed Loop Partners, investing in circular economy initiatives. Northrim Horizon closed its third flagship fund at $235M, focusing on lower middle-market service and software businesses. These developments highlight global investment expansion and strategic capital deployment.

Stay ahead of market trends—subscribe to Dakota News for exclusive insights.

New call-to-action

Written By: Dakota