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Institutional Investor News
CPP Investments grew net assets 13% to CAD$714.4B ($514B) in FY2025, with US exposure rising to 47%—despite political pressure to increase domestic investment. The fund earned CAD$59.8B ($43.2B) in net income and posted a 9.3% return. CEO John Graham cited strong contributions from all departments, driven by infrastructure, sustainable energy, and PE deals in the US and Europe. US returns (9.6%) outpaced Canada’s (5.8%). However, CPP flagged US trade policies as a key macro risk. Other moves: South Korea NPS, GPIF Japan, ABP, and GastroSocial made new alternatives commitments, while Maine PERS backed TPG Twin Brook with $70M.
Wealth Channel News
Steward Partners expanded in the Southeast with its acquisition of Moore’s Wealth Management, adding $700M in AUM. Steward’s Legacy Division, led by Scott Danner, targets advisors seeking succession plans while maintaining firm identity. The firm now manages over $40B and continues to attract backing from investors like Cynosure Group and The Pritzker Organization. In M&A, Lido Advisors secured investment from HPS Investment Partners, while Hightower added Smith Anglin. Aquiline Capital may sell SageView, and The Mather Group acquired Pillar Wealth. New RIA QTR Family Wealth launched in Florida, managing over $1.8B.
Alts Asset Manager News
J.P. Morgan Private Bank flagged hedge funds, infrastructure, secondaries, and evergreen funds as top picks in its midyear alts outlook. The report, Comfortably Uncomfortable, sees evergreen funds gaining traction, with 4,500 clients already invested. Sports also stood out as a unique alpha source. In PE, Arcline, Barings, and StepStone launched or expanded funds, while North Hudson hit a $344M close for energy-focused investments. In VC, Invictus, Theta Capital, and Creator Ventures raised new vehicles, and 247VC debuted with a $29M India-focused fund. Crestline and CapitaLand also announced major NAV and property fund raises.
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