AGM Alts & Wealth Weekly News Roundup | 7.31.26
The news of the week in private markets and wealth management
š Hi, Iām Michael.
Welcome to AGM, the meeting place for private markets.
Every Friday, I share headlines and news on the continuing evolution and innovation in private markets.
If you also want deep and nuanced industry analysis, subscribe below so you donāt miss the long read and newsletter ā the AGM Alts Weekly ā delivered to your inbox every Sunday.
If you have relevant news, an article, or a research report to share, please email me at michael@theagmcollective.com.
AGM News Roundup
š¦ Wealth Management
Why the Advisor Shortage Narrative Falls Short | Simon Hoyle | Wealth Management | Is there a looming āadvisor shortageā of approximately 100,000 professionals as the baby boomer generation retires by 2034?
Corient Acquires $4.9B New York Multi-Family Office | Diana Britton | Wealth Management | Corient acquires $4.9B Seven Bridges Advisors, a New York-based multi-family office that serves entrepreneurs, founders, financial services executives, and UHNW families. [Congrats to AGM RIA Advisory Board member Ram Lee, Partner, President, CIO of Seven Bridges, and the Seven Bridges team!]
LPL Financial rolls out new wealth tech platform | Faye Kilburn | Citywire | LPL has rolled out a new integrated technology platform, LPL Latitude. LPL has invested nearly $2B in the platform, which integrates previously disparate data and tech components that include data architecture, cybersecurity, agentic AI, advisor operating systems, and end-investor applications.
$158bn Wealth Enhancement pursuing recapitalization: Sources | Alec Rich | Citywire | Wealth Enhancement, the $158B RIA, is eyeing a recapitalization that would value the firm at around $7B. The firm is reportedly seeking a valuation of roughly 20x EBITDA. Carlyle and Bain Capital are reportedly bidders to invest.
$35.5bn Waverly Advisors pursuing recapitalization: Sources | Ian Wenik | Citywire | $35.5B Alabama RIA Waverly Advisors is pursuing a recapitalization. The firm has retained Ardea Partners to serve as its financial advisor as it seeks a new investor. Waverly is currently jointly backed by HGGC and RIA minority investor Wealth Partners Capital Group. Ares also has a small equity stake in the business.
š² Evergreen Funds
Goldman, T. Rowe Debut Their First Interval Fund for the Masses | Loukia Gyftopoulou (Bloomberg) | Wealth Management | Goldman Sachs and T. Rowe Price are launching their first interval fund for the wealth channel. The T. Rowe Price Goldman Sachs Private Markets Fund will invest across four alternative asset classes, with GSAM providing allocations in private equity, private infrastructure, and real estate, while T. Rowe will contribute the liquid part of the fund alongside late-stage venture capital. T. Roweās Oak Hill Advisors will add private credit allocations. The fund will not require investor accreditation and will have a minimum investment limit of $2,500.
Private Markets Poised to Add $2 Trillion in Advisor Assets | Amanda Umpierrez | 401k Specialist | U.S. advisor ownership of āless-than-fully-liquidā alternative investment products is anticipated to increase by $2T over the next five years, according to Cerulli Associates.
š ļø Private Markets Infrastructure
Bloomberg to Acquire Canoe Intelligence in Private Markets Push | Jennifer Surane | Bloomberg | Bloomberg agreed to acquire Canoe Intelligence, a platform that automates private markets data collection for institutional investors, wealth managers, and family offices. The move is part of Bloombergās push to improve institutional investorsā insight into private markets.
EXCLUSIVE: CAIS raises $170m in Series D round led by Vista Equity Partners | Andrew Foerch | Citywire | CAIS has raised $170M in a Series D financing round from a consortium of investors led by Vista Equity Partners. AllianceBernstein, Blue Owl, Carlyle, Fortress Investment Group, Golub Capital, Lord Abbett, and Royal Bank of Canada also participated in the round. CAIS said the company is now valued at over $2B and plans to use the capital for M&A.
VanEck Partners with Allocate to Expand Private Markets Access for the Wealth Channel | Business Wire | Allocate announced a partnership with VanEck to expand access to private markets strategies across the wealth channel. VanEck is leveraging Allocateās technology and operational infrastructure to bring its institutional private markets expertise to financial advisors, RIAs, and their clients.
Ultimus Launches Updated Brand to Reflect Expanded Platform | Ultimus | Ultimus Fund Solutions announced the launch of an updated brand that reflects the evolution of its business, expanded capabilities, and increasingly integrated approach to supporting funds and asset managers.
Juniper Square Launches New AI-Powered Fund Admin Oversight Agent for GPs | Juniper Square | Juniper Square announced its new Admin Oversight Agent.
šø Private Equity
Ares Management has held talks to buy Leonard Green & Partners | Eric Platt, Antoine Gara, Arash Massoudi, Sujeet Indap | Financial Times | Ares Management has held talks to acquire $85B AUM Leonard Green & Partners, one of the oldest and most profitable private equity firms. A deal would more than quadruple the size of Aresā PE business. [See my LinkedIn post on a possible Ares / LGP tie-up and the 1.11.26 AGM Alts Weekly āIntegration Nationā about Aresā strategic imperative to acquire a private equity firm].
Vista Equity Partners to acquire software firm Quantios from Hg | Iris Dorbian | PE Hub | Hg has agreed to sell Quantios, a UK-based provider of SaaS solutions to the global trust and corporate services industry, to Vista Equity Partners. EQT was also an investor in Quantios via ViewPoint, which was merged with TrustQuay in 2023 to create Quantios.
KKR co-CEO: External perception disconnected from fundamentals | Selin Bucak | Citywire | Private wealth AUM is up 20% year-to-date and growth is still expected to come in Europe and Asia.
H.I.G. Capital Signs Definitive Agreement to Sell JT Thorpe | H.I.G. Capital | H.I.G. signed a definitive agreement to sell portfolio company JT Thorpe to Truelink Capital.
Pantheon Closes Its Largest-Ever Co-Investment Program at $3.2 Billion | Pantheon | Pantheon announced the final close of the Pantheon Global Co-Investment Opportunities Fund VI at $3.2B.
š³ Private Credit
Artisan pivots to credit, alts after closing US value biz | Caroline McCarthy | Citywire | Artisan Partners, the $183B AUM asset manager, is shifting focus to credit and private markets.
BlackRock Sets Out for Private Credit Glory After Year of Upheaval | Olivia Fishlow, Davide Scigliuzzo, Silla Brush | Bloomberg | BlackRockās acquisition of HPS Investment Partners positions the firm to make a big push in private credit.
Blue Owl ācautiously optimisticā as credit fundraising falls flat | John Schaffer | Citywire | Markets have reacted positively to Blue Owlās Q2 earnings despite credit fundraising hitting a three-year low.
Fortress to Purchase $1.5 Billion of Loans By Fintech Unicorn Wayflyer | Olivia Fletcher and Esteban Duarte | Bloomberg | Fortress Investment Group has agreed to buy as much as $1.5B of loans originated by Wayflyer. Wayflyer aims to deployup tos $4.5B to small businesses over the next two years.
Ares $29 Billion Private Credit Fund Sees Uptick in Non-Accruals | Laura Benitez | Bloomberg | Aresā $29B flagship private credit fund reported an increase in non-accruals in Q2, up 15% from the previous quarter and 26% YoY.
š Real Estate
Blackstone to Buy $25 Billion HSBC Australia Home and Personal Loan Book | Manuel Baigorri and Adam Haigh | Bloomberg | Blackstone agreed to acquire an A$36B home and personal loan portfolio in Australia from HSBC, which will help Blackstone expand its credit and insurance business in the APAC region.
EQT Real Estate to acquire 14-asset pan-European logistics portfolio for EUR 532 million | EQT | EQT Real Estate is acquiring a 14-asset pan-European logistics portfolio from Logicor for ā¬532M. The portfolio comprises 457,000 square meters of logistics space across eight assets in the UK, four in Germany, and two in France.
Apollo raises $850M to acquire manufactured housing parks | Greg Dool | PERE | Apollo has held its first close for an open-ended vehicle meant to capitalize on prefab-friendly policy changes.
š„ Secondaries
Ares Bundles ā¬3 Billion of Private Credit for Secondaries Sale | Silas Brown and Kat Hidalgo | Bloomberg | Ares is preparing to sell ā¬3B of bundled stakes in the fourth vintage of Ares Capital Europe, which would be one of the largest credit secondaries deals ever.
CVC aims for Q3 close for 6th secondaries fund | Hannah Zhang | Secondaries Investor | CVC is nearing the final close for its sixth secondaries flagship fund, while broadening its platform to include credit and infrastructure strategies.
Secondaries funds punch above their weight in real estate fundraising | Justin Sumner | Secondaries Investor | Secondaries-focused fundraising totals represented just 4% of private real estate fundraising in 2025, but the strategy continues to attract capital commitments.
Hamilton Lane leads single-asset CV for wealth management asset | Hannah Zhang | Secondaries Investor | Hamilton Lane has emerged as the lead investor in a single-asset continuation vehicle for RIA Savant Capital Holdings. The Cynosure Group is moving its ownership of Savant into a single-asset CV, which has secured around $270M in total commitments.
High-conviction deals gained favour from secondaries investors in H1 | Hananh Zhang | Secondaries Investor | Secondaries investors have become increasingly comfortable with more concentrated dealflow.
š ļø Infrastructure
Koch Said to Mull $15 Billion Sale of Data-Center Firm Edged | Allison McNeely | Bloomberg | Koch is exploring a sale of Edged, the data center developer it cofounded. Edged has attracted multiple bids in a deal that could value it at more than $15B.
NextEra, Brookfield to Build $100 Billion Data Center Campus | Ari Natter | Bloomberg | NextEra Energy is teaming up with Brookfield Corp. on a $100B+ transformation of a shuttered Cold War uranium-enrichment facility in Kentucky into a data center campus with a generating plant.
EQT's AI fundraising success shows the pulling power of marquee platforms | Bruno Alves | Infrastructure Investor | EQTās new AI Infrastructure Fund thatās built around data center platform EdgeConnex, took just three months to close on $9.4B.
Meta, BlackRock partner on $14 billion El Paso data center venture | Jaspreet Singh | Reuters | Meta and BlackRock announced a venture to develop and operate a data center campus in El Paso, Texas, a project that would cost about $14B in development.
TPG Is Said in Talks to Buy Netrality for Up to $3 Billion | Michelle F Davis | Bloomberg | TPG is in exclusive talks to acquire Macquarie Group-backed Netrality Data Centers, in a deal that could value the company at $2-3B.
š„© GP Stakes
Blue Owl reaches $10.6bn for latest GP stakes fund | Helen de Beer | PEI | Blue Owl has raised $10.6B for its latest GP Stakes fund and CFO Alan Kirshenbaum said the vehicle āwill wrap up this year.ā
PGIM to acquire remaining interest in Deerpath Capital | PGIM | PGIM has agreed to acquire the remaining 25% interest in Deerpath Capital, bringing the firmās ownership to 100%.
Quinbrook seeks minority investor | Tanu Pandey, Brendan Malkin, Jonathan Carmody | ION Analytics | London-based Quinbrook, which invests in large-scale renewable power generation and digital transitions, is seeking a minority strategic investor. Evercore is engaged as an advisor.
Leading GP Stakes and Asset Management M&A Lawyer Christopher Scavone Joins Gibson Dunn | Gibson Dunn | Gibson Dunn announced that Christopher Scavone has joined the firmās New York office as a Partner in its market-leading Investment Funds Practice Group.
š¬ Private Markets Research
The 2026 MSCI General Partner Survey: The Scaling Imperative | MSCI | MSCI surveys 130 GPs on how they are adapting their operating models.
Why Are So Many Asset Managers Launching Evergreen Funds in 2026? | Dakota | Why are so many asset managers launching evergreen funds? Today, 252 registered vehicles hold $431B, with nearly 80% residing in private credit and real estate.
AGMās first RIA Field Trip is in the books!
Not just another conference: the intersection of Content x Community x Capital at work.
To join the waitlist for the October 6-7 Field Trip, click here (RIAs).
Some testimonials about AGM include:
āAlt Goes Mainstream is category of one.ā Global Head of Marketing & Communications, $X00B AUM alternative asset manager.
āWhen it comes to the intersection of alternative investments and wealth management, Michael just gets it.ā CIO, $18B AUM RIA.
āThis is our primary resource for learning and reading about alts.ā Head of Marketing, $250B AUM alternative asset manager.
āIf you want timely and informative insights on everything private markets, Michael Sidgmore and Alt Goes Mainstream weekly update and podcast are fantastic resources.ā CIO, $47B AUM RIA.
āThe only email I never delete when clearing my inbox.ā Senior distribution professional, $330B+ AUM asset manager.