Analysis of capital allocation, investment strategies and the convergence of public and private market structures shaping global asset flows.
T. Rowe Price is acquiring fixed-income specialist F/m Investments, adding approximately $19 billion of assets and a 20-ETF range to its platform. The deal will more than double T. Rowe Price’s fixed-income ETF assets and highlights the growing importance of specialist ETF capabilities to established active asset managers. T. Rowe Price is acquiring fixed-income specialist…
Russell Investments’ exchange-traded funds are seeking shareholder approval for new advisory agreements following the proposed $2.8 billion acquisition of the asset manager by a consortium led by B Capital and including CalPERS. The transaction highlights the governance and regulatory consequences of ownership changes for fund managers and ETF investors. Russell Investments’ exchange-traded funds will hold…
Victory Capital is to acquire First Eagle Investments for approximately $7 billion, creating a global asset manager with around $571 billion in total client assets. The deal will see Victory pay approximately $4.4 billion in cash and $2 billion in newly issued shares, while assuming $575 million of First Eagle debt. The transaction is expected…
KKR has closed its fifth global infrastructure fund with $19.2bn of commitments, making it the largest infrastructure vehicle in the firm’s history. The Core+ strategy targets critical infrastructure across North America and Western Europe, underlining continued institutional demand for long-duration private assets despite a more selective fundraising environment. KKR has closed its latest global infrastructure…
Institutional appetite for private infrastructure is accelerating, with energy transition and AI-driven demand helping push the asset class towards a new fundraising record. Private infrastructure fundraising surged by more than 60% in 2025 to $211bn, taking global infrastructure assets under management to $1.6trn, according to Boston Consulting Group. Infrastructure now represents around 10% of global…
ELTIF 2.0 is beginning to reshape how private-market strategies reach European wealth investors, with a rapidly expanding fund universe and growing emphasis on evergreen and semi-liquid structures. But the next stage of growth will depend less on regulation and more on distribution, operational infrastructure and investors’ understanding of liquidity risk. Europe’s ELTIF market is entering…
T. Rowe Price and Goldman Sachs Asset Management have launched an interval fund combining private equity, private credit, real assets and infrastructure. The vehicle marks another step towards bringing institutional-style private markets exposure into wealth and retirement portfolios through a single, professionally managed structure. T. Rowe Price and Goldman Sachs Asset Management have launched a…
Moonfare has surpassed €4 billion in assets under management following its strongest first-half fundraising since 2022, highlighting the growing role of evergreen private market structures and secondaries as private wealth capital becomes an increasingly important funding source for alternative asset managers. Moonfare has exceeded €4 billion in assets under management (AUM), marking a significant milestone…
Carlyle AlpInvest has reached the hard cap for its second dedicated single-asset continuation vehicle fund, underscoring growing institutional demand for GP-led secondary transactions. The fundraising reflects the continued evolution of the private equity secondary market as investors seek liquidity while retaining exposure to high-quality assets. Carlyle AlpInvest has completed the final close of AlpInvest Atom…
BlackRock has integrated Preqin Benchmarks and Indices into its Aladdin investment platform, giving institutional investors access to standardised private market performance data within their portfolio management workflows. The move represents another step towards bringing private assets onto the same technology infrastructure used for public markets. BlackRock has expanded the capabilities of its Aladdin investment platform…