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Investment Allocator News
The Oregon Public Employees Retirement Fund (OPERF) committed $795M across five deals in December 2024, including $365M to KKR North America Fund XIV and $150M to Advent Latin American Private Equity Fund VIII SCSp. The Indiana Public Retirement System allocated $232M, with $150M going to Pathlight Capital Evergreen Fund. Ohio SERS approved $187M, including $75M for Global Infrastructure Partners V. The Medford Contributory Retirement System (CRS) selected ABS Investment Management for a $20M emerging market equity mandate. Meanwhile, North Carolina Retirement Systems plans to raise public equity from 38% to 42% while lowering private equity from 7% to 6%, bringing its portfolio to $123B.
Wealth Allocator News
Prime Capital Financial expanded ultra-high-net-worth services by acquiring $1.55B AUM SineCera Capital. Composition Wealth added $930M in assets by acquiring Vinoble Group and Unionview Wealth Partners, increasing total AUM to $8.6B. Former JP Morgan advisor Evan Troop launched Troop Capital Management with MSH Capital Advisors, targeting $2B-$3B AUM. UBS Private Wealth Management recruited $400M AUM advisor Zachary Sobel from Morgan Stanley, while LPL Financial added $190M AUM Carmichael Financial. Kingsview Partners expanded its Ohio presence, recruiting Cory Hixson and Zach Boyd with $335M AUM.
Private Fund News
Principal Asset Management closed its $3.64B Principal Data Center Growth & Income Fund, targeting hyperscale data centers. Garnett Station Partners raised $1.2B for its fifth PE fund, surpassing its $850M predecessor. Northleaf Capital Partners secured $1B for Private Credit III, exceeding its $900M goal. Hamilton Lane launched a $1B secondaries-focused evergreen fund, while Peachtree Group has raised $62.5M toward its $500M real estate credit target. Raven Capital aims for $100M in its first multifamily GP fund. Goldman Sachs Asset Management (GSAM) is launching a $300M-$500M biodiversity-focused bond fund for European investors.
Other News
Genstar Capital is acquiring a majority stake in First Eagle Investments from Blackstone and Corsair Partners, valuing the firm at over $4B. The deal, expected to close in 2H 2025, will expand First Eagle’s investment solutions while keeping its leadership intact. Financial advisory was provided by Morgan Stanley, BofA Securities, UBS, Jefferies, Moelis & Company, Goldman Sachs, Barclays, and BMO Capital Markets, with legal counsel from Simpson Thacher & Bartlett LLP, Davis Polk & Wardwell LLP, and Willkie Farr & Gallagher LLP.
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