AGM Alts & Wealth Weekly News Roundup | 6.12.26
The news of the week in private markets and wealth management
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AGM News Roundup
đŚ Wealth Management
Rockefeller, Anthropic partner on AI wealth management platform | Caroline McCarthy | Citywire | Rockefeller Capital Management has partnered with Anthropic to build an AI-enabled wealth management platform powered by Claudeâs AI model. The partnership will help provide deeper client insights to the firmâs UHNW clients. Claude will be embedded directly into Rockefellerâs daily operations.
$28bn Choreo to manage post-IPO wealth of SpaceX employee group | Sam Bojarski | Citywire | Chicago-based RIA Choreo is working with a cohort of SpaceX employees to manage the wealth they expect to earn from the companyâs historic IPO. Bloomberg reported last week that a group of over 1,000 current and former SpaceX employees had banded together to evaluate wealth managers and negotiate lower fees. CNBC reported that Choreo won the business of around 100 SpaceX employees representing between $1-5B of AUM.
Morgan Stanley Targeting $10 Trillion in Client Assets at Wealth Unit | Miriam Rozen | AdvisorHub | Morgan Stanley CEO Ted Pick is raising the bar for his firmâs private wealth business. He said that the firm expects it can hit $10T AUM.
Hightower broadens family office services for affiliate advisors | Faye Kilburn | Citywire | Hightower has boosted the ability for advisors across its ecosystem to access services from the companyâs family office arm.
đ˛ Evergreen Funds
While Retail Investors Flee Private Credit, Institutional Investors Stay Put | Matt Toledo | AI CIO | Several asset managers have seen increased redemptions from their evergreen funds, but traditional LPs remain unfazed by the recent headlines in private credit.
Return Smoothing in Evergreen Fund Indexes | Juan Mier and Miles Ostroff | PitchBook | PitchBook has created a report to remove smoothing in evergreen funds.
đ ď¸ Private Markets Infrastructure
RFG Advisory Expands Advisor Access to Alternatives and Structured Investments Through iCapitalÂŽ Partnership | RFG Advisory | RFG Advisory announced a strategic partnership with iCapital, expanding RFGâs investment platform with streamlined access to private markets and structured investment solutions.
Allocate and Dynasty Financial Partners Expand Partnership to Power Private Market Access and Solutions | Business Wire | Allocate announced an expanded partnership with Dynasty, the $125B platform serving RIAs. Allocate will serve as a preferred partner for white-label private markets solutions for Dynasty and its network of RIAs, with Allocate technology and custom fund services powering many of Dynastyâs private markets opportunities.
đ¸ Private Equity
Private-market pilgrims find solace in rivalsâ sin | Liam Proud | Reuters | Reutersâ Liam Proud provides a recap of the SuperReturn Berlin private equity industry conference.
Apollo executive says private equity got âa little out of whackâ | Ivan Levingston and Alexandra Heal | Financial Times | Apollo Co-President Scott Kleinman said pricing got âa little out of whackâ between 2017-2022 and that âthereâs going to be a price to pay as far as what that means for private equity performance for [those vintages].
CVCâs Lucas Says AI Impact on PE Portfolios Canât Be Overstated | Dani Burger and Leonard Kehnscherper | Bloomberg | CVC CEO Rob Lucas said in a conversation with Bloombergâs Dani Burger at SuperReturn that the importance of AI for private equity portfolios canât be overemphasized. AIâs impact on businesses âis huge and it will have disruptive effects, but net, itâll be a massive beneficial for those people who can really embrace it,â Lucas said.
Carlyle Seeks Roughly $15 Billion for New Flagship PE Fund | Allison McNeely | Bloomberg | Carlyle has kicked off fundraising for its ninth flagship private equity fund, looking to match or exceed the $14.8B raised in the last vintage.
Iceye Valuation Jumps to âŹ10 Billion in Funding Round Led by General Atlantic | Kati Pohjanpalo | Bloomberg | Iceye Oy quadrupled its valuation to over âŹ10B ($11.5B) in a General Atlantic-led funding round that will help the Finnish satellite intelligence company expand to meet demand for sovereign technology systems.
Hg-backed Gen II targets $6bn sale | Ivan Levingston | Financial Times | Gen II, the fund administrator that administers more than $1.5T of fund assets across private equity, private credit, and real assets, is holding preliminary discussions about a potential sale for the business later this year. Investors in Gen II include Hg and General Atlantic.
UK takeover panel extends deadline for EQT takeover of Intertek | Reuters | British product testing firm Intertek said on Thursday the UK takeover panel has extended a deadline to June 18 for the ÂŁ9.4B ($12.6B) bid by EQT.
Nvidia, Amazon Back Neura Roboticsâ $1.4 Billion Fundraise | Nina Kienle | Wall Street Journal | Germanyâs Neura Robotics secured up to $1.4B in funding to build a physical artificial intelligence platform and scale production to several million robots by 2030. The financing round came from investors including Amazon, Nvidia, Qualcomm, Tether, Bosch, Lingotto, Schaeffler, the European Investment Bank, and InterAlpen Partners. [Congratulations Stephen George and InterAlpen on uncovering Neura early on and being the US first institutional investor in the company].
Blue Owl, Ares Court Mexicoâs $500 Billion Pension Fund Windfall | Kelsey Butler and Michael OâBoyle | Bloomberg | Mexican pension funds, known as Afores, represent a $500B opportunity for the industryâs largest private markets firms. KKR Managing Director Monica Mandelli, who leads the firmâs capital formation activities in Latin America, said in an emailed statement that Mexico âhas been an important marketâ for the company for many years.
đł Private Credit
Blackstone COO touts improved wealth flows | Tania Mitra | Citywire | Blackstoneâs Jon Gray said the firmâs wealth flows have improved and that the current credit redemption cycles is ultimately âhealthy.â
Ares Management raises $8.5bn for newest fund in spite of private markets woes | Eric Platt | Financial Times | Ares raised $8.5B from institutional backers for its newest fund investing in esoteric credit. The fund, part of Aresâ Pathfinder family of funds, is one of the largest closed-end funds focused on asset-based finance.
Swedenâs Top Pension Gatekeeper Wants to Keep Private Credit Out | Charles Daly, Evelina Youcefi, Jonas Ekblom | Bloomberg | Erik Fransson, who runs the Swedish Fund Selection Agency, said heâs against offering Swedes access to private markets funds. Fransson cited his concern for structures with daily liquidity.
Arcmont set to close fifth direct-lending fund at over âŹ15B | Nishant Sharma | PitchBook | Arcmont is in the final stages of closing its fifth direct lending fund at âŹ15-17B. The latest fundraise represents a marked increase over the firmâs âŹ10B fourth fund, which closed in 2024.
Amazon Inks $17.5 Billion Loan as AI Borrowing Frenzy Grows | Davide Barbuscia and Matt Day | Bloomberg | Amazon agreed to a $17.5B delayed-draw term loan with banks including Citigroup, as spending for AI soars.
Oaktree Sees Distressed Opportunities as Kick-the-Can Era Ends | Neil Callanan | Bloomberg | Higher-for-longer interest rates means over-leveraged companies are running out of ways to repay borrowers ahead of a looming maturity wall, said Oaktree MD Brook Hinchman on an Oaktree podcast.
đ Real Estate
EQT Real Estate acquires 2.4 million square foot logistics portfolio in key markets across the Southeast U.S. | EQT | EQT Real Estate announced that the EQT Real Estate Industrial Value Fund VI acquired a 2.4M square foot logistics portfolio across three fast-growing markets in the US Southeast, comprising Savannah, Georgia, Jacksonville, and Lakeland, FL.
JPMorgan Private Bank 'revisiting a lot of real estate managers' | Joe Marsh | PERE | JPMorgan Private Bank is intensifying its focus on real estate after several quiet years for the asset class. The property market âis coming back,â said Albert Yang, Head of Alternative Investments for Asia at the US private bank.
đĽ Secondaries
Top-performing CVs continue to show outperformance over buyout funds - Evercore | Hannah Zhang | Secondaries Investor | Evercore and HEC Parisâs fifth CV performance study found that top-performing CVs continue to show outperformance over buyout funds.
Blackstone looks to sell $2bn of stakes in private investment funds | Jill R Shah, Eric Platt, Michelle Chan | Financial Times | Blackstone is attempting to sell over $2B of stakes it holds in private investment funds in one of the biggest deals of its kind. Blackstone is marketing a collateralized fund obligation, which will bundle more than $2B of stakes in leveraged buyout funds into bonds to sell to investors and insurers.
Partners Group targets USD 1.5 billion for latest real estate secondaries program | Partners Group | Partners Group is targeting $1.5B for its fifth real estate secondaries program, which will include a closed-end fund as well as bespoke mandates. The firm held its first close of over $650M.
Credit secondaries: Stepping into the spotlight | Michael Hacker, Justin Karp, Joy Xu, Raaed Qureshi | Carlyle | Credit secondaries represented a $20B+market in 2025, and Carlyle believes that it can grow to $80B+ by 2030 (~$55B in GP-centered transactions vs. ~$25B in LP centered transactions).
đ ď¸ Infrastructure
KKR launches $10bn data centre group led by former AWS chief | Antoine Gara and Rafe Rosner-Uddin | Financial Times | A KKR-led group is investing $10B into a new data center group run by former Amazon Cloud chief Adam Selipsky. Helix Digital Infrastructure, a holding company formed by the private markets manager, plans to finance, build, and coordinate projects delivering a portfolio of modern data centers.
Brookfield, GIP Defy War to Advance $7.5 Billion Kuwait Deal | Dinesh Nair, Fiona MacDonald, Laura Gardner Cuesta | Bloomberg | BlackRockâs GIP and Brookfield Asset Management are among the private equity firms shortlisted to buy a stake in a Kuwaiti pipeline network. Kuwaiti Petroleum Corp. is working with JP Morgan and Centerview Partners to lease part of its pipeline network. The deal indicates sustained interest for marquee Gulf assets despite a monthslong war thatâs impacted regional production and roiled energy markets globally.
Broadcom, Apollo, and Blackstone Establish Landmark Strategic Platform to Accelerate More Than 20 Gigawatts of Global AI Deployments | Blackstone | Broadcom announced the establishment of the AI XPV Platform with Apollo and Blackstoneâs Credit & Insurance Business as initial anchor investors. The Platform launches with an initial tranche of $35B led by Apollo and Blackstone to facilitate Anthropicâs previously announced capacity expansion of more than 1 GW of compute infrastructure.
𼊠GP Stakes
Hunter Point Capital Raises $4.3 Billion Across GP Financing Solutions Strategies | Business Wire | Hunter Point announced the final close of its first NAV Lending and Preferred Solutions strategies, with total commitments of $4.3B. Both strategies exceeded their fundraising targets, bringing HPCâs total assets under management and commitments to approximately $10B.
Janus Henderson expands European private markets capabilities with acquisition of Rantum Capital | Janus Henderson Investors | Janus Henderson entered into an agreement to acquire Rantum Capital, a Frankfurt-based private markets manager. Founded in 2013, Rantum focuses on providing private credit and private equity financing solutions to family and entrepreneur-owned small and mid-sized companies in the DACH region. The firm has raised around âŹ1.2B of capital.
Clearlake Expands Liquid Credit Platform with Acquisition of LCM Asset Management's CLO Contracts | Clearlake Capital Group | Clearlake announced that its credit platform, Clearlake Credit, will assume management of CLOs managed by LCM Asset Management. The transaction adds 31 CLOs representing more than $5B of AUM and increases AUM of Clearlake Credit to $39B.
đŹ Private Markets Research
Control the Controllable, Weather the Rest: Private Equity Midyear Report 2026 | Hugh MacArthur, Rebecca Burack, Alexander De Mol, Alexander Schmitz and Brian Krim | Bain & Company | Is it âGroundhog Dayâ again? Bain & Companyâs Private Equity Midyear Report dives into the first half of 2026, with the punchline being: amid early-year market disruptions, investments, exits, and fund-raising all dragged in the first half, and liquidity remained a major challenge.
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