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Institutional Allocator News
Texas ERS is appointing RVK, Aksia, and Albourne as consultants while committing $160M across six alternative funds. CPP Investments reached C$699.6B (~$491.82B) in net assets, marking its largest quarterly increase, with investments in BPEA Private Equity Fund IX ($700M), Kennedy Wilson JV (£500M/~$522M), and Quantum Capital Group ($295M). AIMCo is closing its New York and Singapore offices while parting with executives. Quincy Retirement seeks a $10M fixed income manager, and MassHousing plans an investment-grade bond RFP, extending HarbourVest’s contract. LSERS committed $25M to Beach Point’s fund, and Dallas Police & Fire plans a $50M private credit allocation. WHO considers a $50B endowment.
Wealth Allocator News
Tocqueville Asset Management acquired Poplar Forest Capital ($1.3B AUM). Former Mercer and Laird Norton advisors launched Basecamp Wealth Advisors, catering to ultra-high-net-worth clients. Kestra Financial secured an $80M investment from CPP Investments following a recapitalization led by Stone Point Capital, replacing Warburg Pincus. Greycourt & Co. promoted Wendy Pan and Owen Zajdel to principal and added two analysts to its research team.
These moves strengthen investment expertise through acquisitions, firm launches, and promotions in response to market demands.
Private Fund News
PAG closed its 10th Asia-focused real estate fund at $4B, surpassing its $3.5B target, with investors including Teacher Retirement System of Texas ($100M). Antares Capital launched a $1.4B business development company fund, backed by CPP Investments and British Columbia Investment Management. Portfolio Advisors raised $622M for its fifth co-investment fund, exceeding its $600M target. Ulu Ventures closed its fourth flagship fund at $208M, doubling AUM to $400M, with backing from the MacArthur Foundation, Marguerite Casey Foundation, and LACERS ($20M).
These funds highlight strong investor demand for real estate, private credit, and co-investment strategies.
Other News
New Catalyst Strategic Partners recruited James Pyo, Ivaldo Basso, and Beth Rahn. Founded by Jason Howard and backed by Apollo Global Management, the firm filed to raise $750M for its flagship fund. Wasatch Global Investors expanded small-cap strategies with Mark Madsen and Karson Schrader from Grandeur Peak Global Advisors.
These moves highlight the industry’s push to strengthen research, portfolio management, and investment capabilities while capitalizing on alternative and small-cap investment strategies.
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