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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
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.
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