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Institutional Investor News
Mubadala Investment Company CEO Khaldoon Al Mubarak called the creation of AI investment platform MGX the “highlight of 2024,” as the sovereign fund grew AUM by 9.1% to AED 1.2T ($326.7B). MGX launched a $30B AI infrastructure fund with BlackRock, GIP, and Microsoft, later joined by NVIDIA and xAI. Mubadala’s private credit grew to AED 73.5B, while Mubadala Capital now manages $30B following the Fortress acquisition and a $1B Silver Rock partnership. Other updates: the UK’s National Wealth Fund committed £600M to Scottish Power, and Texas TRS, Ireland’s ISIF, and NY Deferred Compensation Board made notable allocations.
Wealth Channel News
Mercer Global Advisors hit a milestone with its 100th and 101st acquisitions, adding Tufton Capital Management and Lewis Wealth Management, raising AUM to $71B. CEO Dave Welling signaled openness to a “transformational” deal—potentially acquiring an RIA in the $10B–$30B range. Mercer’s M&A team now includes co-head Ted Motheral. Elsewhere, Unity Hunt appointed Andrew Fisher as president. Raymond James added advisors from Edward Jones and LPL, forming Maki Financial. Goldman Sachs, GeoWealth, and iCapital launched a unified public/private portfolio platform for RIAs. Nan Fung Trinity is expanding into the US with a planned NYC office.
Alts Asset Manager News
Despite market volatility, TPG remains bullish, aiming to exceed 2024’s $30B fundraising. With $125B AUM, it recently secured a $4B strategic partnership spanning PE, credit, and real estate. Upcoming launches include TPG GP Solutions Fund II and expansion into the private wealth space. In fundraising, Carlyle Group reported strong PE and credit inflows, while Everview Partners, Corsair Capital, and Southfield Capital announced fund closes. Nuveen, Granite Asia, and FEDA launched real estate, credit, and film-focused funds. Meanwhile, Blackstone, Vanguard, and Wellington introduced the WVB All Markets Fund, targeting public-private strategies.
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