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Institutional Allocator News
Ohio STRS appointed Aaron DiCenzo as interim CIO while searching for a permanent replacement and is considering increasing private equity and credit allocations. UPS will contribute $1.3B to its pension plan in 2025, with $10.1B allocated to alternatives. Sacramento County Employees’ Retirement System is reviewing asset allocation options, with a likely 2% increase in public/private credit. Oklahoma Police Pension selected Chautauqua International Growth for a $200M international equity mandate, while OLERS narrowed its search to Baillie Gifford, Chautauqua, and Harding Loevner. Pompano Beach P&F is interviewing Silvant Capital, Smith Group, and Fiera Capital for a large-cap growth equity mandate.
Wealth Allocator News
LPL Financial recruited Prill | Garwood Financial Advisors, a $900M team from Raymond James. Dynasty Financial Partners welcomed XXI Wealth, a $900M Chicago-based team from CIBC Private Wealth. Sanctuary Wealth made a minority investment in Alluvial Private Wealth as part of its strategic capital program. VestGen Wealth, a newly launched $5.3B RIA, finalized its executive leadership team. Raymond James added South County Financial Group, a $110M Rhode Island duo from LPL. Uptick Partners recruited $70M advisor John Sidery to launch Olympus Wealth Strategies in Arkansas.
Private Fund News
GTCR raised $3.6B for its Strategic Growth Fund II, surpassing its $2.75B target. Cloud Capital hit 50% of its target for its second data center fund in just two months. Wellington Management closed its debut CLO fund at $194M, exceeding its $150M target. Scarcity Partners aims for a $300M close on its first GP stakes fund, having already secured $130M. CapitaLand Investment raised KRW 180B (~$125.3M) for its first private credit fund in South Korea. NaturalX Health Ventures launched a €100M consumer health fund, targeting Series A investments across Europe and North America.
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