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Institutional Investor News
PSP Investments acquired The Wharf in Washington, DC, for $1.8B from Hoffman & Associates and Madison Marquette, assuming full ownership of the 15-year-old waterfront development. Previously an equity partner, PSP now adds the property to its US-heavy real estate portfolio. The City of St. Louis ERS issued a $26M RFP for non-US small cap strategies, due May 23. Texas CDRS committed $167M in April to Threshold Ventures V and MCP Private Capital V, bolstering its credit and private equity holdings. North Dakota SIB finalized a $250M allocation to 50 South Capital, while Ventura County and Wayne County ERS made $80M in combined re-ups and strategic reallocations.
RIA & Wealth Channel News
Zoe Financial raised $29.6M in Series B funding, backed by RIAs like CAPTRUST, Creative Planning, and Mariner Wealth Advisors, bringing its total to $45M. The capital will expand its advisor support and platform capabilities. McKinsey & Co. is selling its $24B MIO Partners, with Ardea Partners handling the process and strategic buyers preferred. Goldman Sachs promoted Nicole Puller Ross to lead Northeast PWM while continuing in Sports & Entertainment Solutions. Sowell Management added Scott Dooley and Sabrina Freeman to lead investment and finance efforts, while RIAs EFS and Alpha Rock Investments launched with high-net-worth focuses.
Private Fund News
General Atlantic will transfer its stake in Creative Planning to a continuation fund seeking over $1B, while retaining a significant interest. TPG and Blue Owl Capital are involved in the transaction. Apera Asset Management closed its third private debt fund at €2.9B, more than doubling Fund II. Pioneer Point Partners raised €1.1B for its second sustainable infrastructure fund, backed by Ingka Investments and Texas Municipal Retirement System. WNC & Associates closed a $119M fund for California affordable housing, while Graywood Developments raised $100M for a Toronto-focused real estate vehicle. Ballast Rock launched a $50M credit fund targeting real estate and solar projects.
Other News
TWG Global will invest $2.5B for a minority stake in Mubadala Capital, the asset management arm of Mubadala Investment Co. The deal includes Mubadala leading a $10B syndicated investment in TWG’s $15B equity raise, with further $20B commitments possible. It marks Mubadala Capital’s second external ownership deal after partnering with Silver Rock in 2024. TWG, valued at $40B, expands its global presence, while Mubadala Capital manages $30B in private market strategies.
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