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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.
Designed for investment sales professionals and fundraisers, we deliver the insights you need to navigate the evolving landscape, track major investor activity, and identify new opportunities.
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Institutional Investor News
Institutional allocators continued a strong pace of activity. Virginia Retirement System committed $1.1B across five alternative funds including Ares, Hamilton Lane, Bain Capital, HPS, and CVC, while also conducting strategic reviews of its public equity and fixed income portfolios. TRS Illinois made $955M in February commitments across nine funds spanning private equity, real assets, global income, and public equity, with new relationships formed with Investindustrial, Nordic Capital, and Sumitomo Mitsui. Oklahoma Police Pension reviewed asset allocation and portfolio strategy, considering the termination of four managers including Barings and PAAMCO. Meanwhile, Baltimore ERS rebalanced by terminating Allspring and Payden & Rygel, reallocating assets to Xponance, Turning Rock, and TPG.
RIA & Wealth Channel News
RIAs are increasingly adopting private credit strategies, with a new AFA survey showing 62% of RIAs currently allocate to private credit, and 87% of those expanding holdings already managing multiple funds. Raymond James recruited an $828M team from RBC in Scottsdale, AZ. Carson Group added advisors Abigail Hollar and Drew Johnson, managing $155M collectively. Kestra’s Inspired Wealth recruited Amy Dunham from Edward Jones, bringing $235M AUM, and Steward Partners appointed Jason Bourgo as Southeast divisional president to support growth and recruitment.
Private Fund News
Private funds continued to close major vehicles. Trive Capital raised $2.7B for its oversubscribed Fund V, securing commitments from institutional LPs like Florida SBA and LA Fire & Police. Cathay Capital and Sanofi launched a $275M fund to accelerate drug development in China. Moneta Ventures launched a $250M third VC fund targeting B2B SaaS, while CapMan Wealth closed its CW Investment Partners Fund IV at $120M. Morgan Stanley is targeting a ¥100B ($687M) close for its Japan real estate fund by June, aimed at core property sectors including logistics and multifamily.
Other News
National Equity Fund (NEF) appointed Bob Taylor as its new Chief Risk and Investment Officer, taking over for retiring CRO Judy Schneider. Taylor brings over 40 years of experience from Morgan Stanley, Wells Fargo, and Bank of America, and will oversee investment and credit risk functions in support of NEF’s affordable housing mission.
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