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Institutional Allocator News
Worcester Retirement launched a $31.8M multi-asset credit search, requiring managers with $10B+ in AUM and liquidity of at least a month. Tennessee CRS approved $372M in private credit and real estate allocations, including €250M (~$272M) to ICG Europe IX and $100M to Principal Data Center Growth & Income Fund. Tulare County ERA committed $35M to Beach Point Capital’s Real Estate Debt Fund, maintaining a 13% real estate portfolio weight. Fort Lauderdale Police & Fire allocated $10M to PE and real estate, splitting funds between Taurus Private Markets Fund II and Affiliated Housing Impact Fund II.
Wealth News
Twenty Four Wealth Management acquired Alpha Beta Gamma Wealth, increasing AUM to over $1B and expanding into Florida. Joshua Rigden and Christian West launched Denver-based Rigden Capital Strategies, a fee-only fiduciary firm combining active and passive strategies. Former Edward Jones advisor Joshua Lightcap established San Diego-based Lightcap Financial Group, focusing on HNW individuals, trusts, and pensions.
Private Fund News
Basis Investment Group seeks $1.10B for its third real estate fund, securing $135M in commitments from Chicago Teachers’, Cook County, and Illinois Municipal pensions. Megatel Capital Investment launched MCI Preferred Income Fund VIII, targeting $500M for Texas real estate debt. Brigade Capital closed $405.6M for Battalion CLO XXVIII, part of its $11.2B global CLO/CBO platform. Benford Capital aims to raise $365M for its third fund, targeting lower middle-market investments. Thompson Thrift secured $255.3M for its 2025 Multifamily Development Fund, surpassing its $230M target. WndrCo filed to raise $65M for Seed Fund III, investing in technology, cybersecurity, and developer infrastructure.
Other News
Round Hill Music Royalty Partners hired James King as chief capital officer, expanding UK and Europe fundraising. King joins from Cavendish, where he advised on Round Hill Music Royalty Fund’s IPO and acquisitions.
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