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Institutional Investor News
Guam Retirement issued an RFP for a $100M real assets mandate. Virginia Retirement committed $575M to HPS, Audax, and True Green Capital. San Bernardino County may allocate $200M to an Adams Street SMA. Colorado Fire & Police allocated $98M to five alts funds in February. Houston Firefighters committed $30M to Avenue Asia Fund VII. Callan issued an RFP on behalf of a pension seeking $150M–$300M for industrial real estate joint ventures. CPP Investments sold $870M in fund interests to Ares and CVC. Washington State re-upped $1.5B to EPIF and Advent GPE XI. Arizona PSPRS appointed Alexander Dorf as deputy CIO. LA Fire & Police committed $105M to three funds in Q1. San Antonio F&P approved $220M in private markets pacing and new manager searches.
RIA and Wealth Channel News
PwC reported that family offices are favoring direct investments, sustainability, and club deals, now accounting for 62% of family office investments. Procyon Partners received a minority investment from Constellation Wealth Capital. BFS acquired $350M Napatree Capital. Former Angel Oak advisors launched Sardis Group in Atlanta with $198M AUM. Claypond Capital hired former Microsoft India exec Chandra Sekhar Garisa as MD. Rockefeller added two Merrill Lynch teams in Chicago. RayJay recruited $225M advisor Joel Mitchell in Washington.
Private Fund News
Navis Capital closed a $230M TPG-backed continuation fund. Omni Bridgeway, with Ares, launched the first legal assets continuation fund. Sculptor Capital closed its latest private credit fund at $900M. TDK Ventures launched a $150M deep tech VC fund, and Sunflower Capital raised $150M for its second early-stage fund.
Other News
TPG and Temasek will take minority stakes in Cliffwater, joining TA Associates. Nomura appointed Ashu Pal, formerly with Maryland’s pension, as head of portfolio management.
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