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Stay ahead of the latest trends in wealth management, institutional investing, and private markets with Dakota’s daily newsletter — your go-to source for key updates on fund allocations, manager moves, and industry shifts.
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Institutional Investor News
Rest Super committed $300M to I Squared Capital’s infrastructure credit strategy, targeting renewables, digital, and transport assets. Cambridge Retirement issued a $220M core fixed income RFP, with a focus on minority- and women-owned firms. Indiana PRS launched a search for active diversified commodities managers. Ohio Police & Fire hired Wellington for a $160M non-US small cap mandate and allocated $80M to iCON Infrastructure VII. VPIC committed $75M to TPG’s direct lending fund and may invest in Blue Owl and HarbourVest. Macomb County allocated $12M to Manulife and Adams Street. Holyoke Retirement restructured its international equity exposure, and Mobile Police & Fire committed $13M across AgAmerica and Mavik Capital.
RIA & Wealth Channel News
Waverly Advisors acquired NBW Capital, adding $500M AUM and expanding in the Northeast. First Manhattan picked up Grand-Jean Capital with $500M in assets. Mercer Global Advisors entered Tennessee and Kentucky with the acquisitions of Vishria Bird and D. Scott Neal. Parkwoods Wealth appointed Bob French as CIO. Wealth Enhancement added $518M in AUM via First International Bank’s wealth unit. MAI Capital added athlete-focused duo Jon Hayes and Tim Hightower. Uptick Partners welcomed $100M AUM advisor Matthew Fitzgerald to launch Holistic Planning in Arizona. Clearstead hired former JPMorgan exec Albert Leshinsky as senior MD for advisor recruiting.
Private Funds News
Pophouse Entertainment closed its debut music fund at €1.2B, investing in IPs like ABBA and KISS. IK Partners raised €3.3B for Fund X, its largest yet. Level Equity closed $1.4B across two growth-focused funds. Freeport Financial closed a $2B direct lending fund. Brookfield is acquiring Angel Oak to expand into mortgage origination. Queen’s Park Equity raised £305M for its second fund targeting founder-led businesses. GLP closed its first China-focused data center fund with RMB2.6B. RCP Advisors raised $170M for a small and emerging fund-of-funds. Construct Capital secured $300M for its third VC fund targeting foundational industries.
Other News
PGIM Fixed Income hired Oliver Nisenson from Blackstone as Head of Asset-Based Finance. He will lead the firm’s global private asset-based lending strategies within its $131B securitized products platform, reporting to co-heads Gabriel Rivera and Edwin Wilches. His appointment supports PGIM’s continued buildout in private credit.
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