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Institutional Investor News
Brunel Pension Partnership is reassessing its path after the UK government rejected its pooling proposals, despite exceeding targets and nearing full asset transition with over £35B AUM. CEO Laura Chappell emphasized the need for a fair and costed merger framework. Similarly, ACCESS Pool's plan for a regulated investment company was denied, sparking further frustration. In investments, CDPQ, OMERS, Mass PRIM, and PGGM reported large transactions across private equity, real estate, and credit. Notably, Norway’s sovereign wealth fund faces legislative challenges in expanding into defense stocks. Meanwhile, Chicago Teachers’ is eyeing a $10M commitment to NMS Fund V.
Wealth Channel News
Marble Wealth is leaving Sanctuary Wealth, following SLK Private Wealth’s earlier exit. Founded in 2022 by UBS alums Matthew Murphy, Rebecca Baker, and Adam Rogers, Marble has gained SEC approval as an independent RIA. Despite these departures, Sanctuary continues to attract talent, recently adding Hillguard Management and NewSpring Wealth. In M&A, Suntera Global is selling a majority stake to Valeas Capital, while Allworth Financial brought on Sara Baker to lead acquisitions. Advisor moves include transitions to Raymond James, Janney Montgomery Scott, and LPL Financial, underscoring continued mobility in the independent wealth space.
Alts Asset Manager News
Coatue Management launched the Coatue Innovation Fund (CTEK) with $1B in anchor commitments from the family offices of Jeff Bezos and Michael Dell. The fund will invest in both public and private innovation-driven companies, with allocations via UBS advisors. Coatue, known for backing firms like Canva and SpaceX, has $54B AUM and over 200 active investments. In PE, Brookfield, Vivo Capital, and Sagard’s Performance Equity Management closed significant funds. On the VC front, Hamilton Lane and Future Ventures launched new vehicles focused on innovation, AI, and biotech.
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