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Institutional Investor News
Institutional investors remain mixed on the value of active vs. passive strategies, according to Cerulli Associates. While 30% of asset owners prefer active and 29% lean passive, 57% say strategy choice depends on risk/return fit. Passive equity ETFs are gaining traction—used by 75% of respondents, with nearly 40% planning to increase exposure. Cerulli’s director noted that active managers in passively targeted asset classes must now “be best of breed.” On the search side, Quincy Retirement System, Legal & General, and VCERA made notable commitments, while Saudi Arabia’s PIF said it will cease investing in Swiss markets over Credit Suisse fallout.
Wealth Channel News
New York metro area welcomes two new RIAs: Third View Private Wealth, led by former Procyon Partners advisors with NFLPA ties, and Eagle’s Crest Advisors, launched by ex-Oppenheimer executive Abel Oonnoonny. Both firms received SEC approval in spring 2025. Meanwhile, &Partners added Florida-based 26 East Private Wealth, and Hill Investment Group hired former Dimensional Fund Advisors manager Ryan Clinton. Charles Schwab will launch Advisor ProDirect this July, targeting advisors with $50M–$300M in AUM. A Barron's report suggests sovereign wealth funds may become long-term backers of RIAs, stepping into a role once filled by private equity.
Alts Asset Manager News
New SEC Chair Paul Atkins proposed reforms to allow retail investors access to private funds, citing a need to “promote innovation.” He aims to strike a balance between opportunity and protection as private fund AUM nears $31T. In private equity, Eagle Merchant Partners raised $415M for Fund II, and Dementia Discovery Fund closed a $269M vehicle. Incofin, Arta TechFin, and Folks Motor also launched regionally targeted funds. In venture capital, new funds include Redpoint Ventures X ($650M), Hyra Holdings ($500M), and QuantumLight ($250M), with others from Vertex Ventures, Lighthouse Capital, and South Loop Ventures supporting tech and AI innovation.
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