AGM Alts & Wealth Weekly News Roundup | 8.1.25
The news of the week in private markets and wealth management
š Hi, Iām Michael.
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AGM News Roundup
š¦ Wealth Management
SEI adds 17 fund shops to alts platform | Tania Mitra | Citywire | SEI has added 17 fund managers to its alts platform SEI Access, which provides wealth managers and advisors access to alternative investment products. Asset managers added to the platform include BlackRock, Hamilton Lane, Invesco, and KKR.
Private-Equity Firms Havenāt Cracked the 401(k) Fee Riddle, Experts Say | Chris Cumming | Wall Street Journal | Private markets firms that choose to incorporate their offerings into retirement accounts may be forced to increase transparency and potentially reduce fees.
Capital Group, KKR Seek SEC Nod for Retail Private Equity Fund | Silla Brush and Allison McNeely | Bloomberg | The new Capital Group KKR US Equity+ fund is projected to invest roughly 30% of assets in K-PEC, an existing KKR private equity fund sold to the wealth channel, and around 60% of the assets in medium and large cap US stocks.
š² Evergreen Funds
AssetMark to start adding evergreen funds in Q4 | William Johnson | Citywire | AssetMark will be making private market funds available to advisors via its UMA and Adhesion Wealth, the Tamp business it acquired from VestMark in 2022.
Convenience is king in the battle to win evergreen fund assets | Kim Flynn | Citywire | XAās Kim Flynn writes in an opinion piece for Citywire that evergreen funds that are easy to access and trade are proving popular with the wealth channel.
Ardian launches evergreen fund globally with iCapital | Selin Bucak | Citywire | The $180B alternative asset manager that primarily focuses on secondaries and co-investments launches an evergreen fund leveraging iCapitalās servicing and technology capabilities.
šø Private Equity
Brookfield strikes Ā£2.4bn deal to buy London-listed insurer Just Group | Lee Harris and George Parker | Financial Times | Brookfield acquired life insurance group Just Group, accelerating the firmās push into the pension risk transfer market. Brookfield Oaktree Wealth Solutions will merge Just Group with its UK operations, Blumont, and operate under the Just Groupās brand.
Carlyleās Schwartz Names Co-Presidents, Solidifies Top Ranks | Dawn Lim | Bloomberg | Carlyle chief executive Harvey Schwartz named three Co-Presidents, appointing top corporate strategist John Redett, Credit Head Mark Jenkins, and Client Business Head Jeff Nedelman to the role.
Old-School Playbook Finds New Life in Middle-Market Private Equity | John Crabb | Institutional Investor | Despite the difficult market environment, private equity firms such as Lateral Investment Management and Searchlight Capital are finding opportunities in overlooked, founder-led companies.
Tikehau Capital posts fundraising record with $5.9B haul in H1 2025 | Andrea Gaini | PitchBook | The alternative asset manager achieved record fundraising in the first half of 2025, bringing in ā¬5.2B ($5.9B) in gross inflows and ā¬4B in net inflows, up 20% from the same period a year earlier.
š³ Private Credit
KKR leverages asset-based finance to stand out from the crowd | Madeline Shi | PitchBook | KKR is doubling down on asset-based financing on the heels of a successful $6.5B fundraise for its latest fund.
Private credit default rate falls to 1.76% in Q2 ā Proskauer | Sami Vukelj | PitchBook | Proskauerās Private Credit Default Index fell from 1.76% in the second quarter of 2025 from 2.42% in Q1 and from 2.71% year-over-year.
š Real Estate
Real Estate Investors in Europe Hold Back Amid Tariff Turmoil | Natasha Voase | Bloomberg | European commercial property sales were down 10% by value in the second quarter and down 7% in the first half of the year, according to data from MSCI.
š„ Secondaries
Blue Owl chief warns of manic market for second-hand private equity stakes | Antoine Gara | Financial Times | Blue Owl Co-CEO Marc Lipschultz discussed the record levels of activity in secondaries market, saying there is an āalmost manic level of interest in secondaries.ā Lipschultz also noted that the firm is exploring ways to expand into secondaries.
HarbourVest launches its first secondaries vehicle dedicated to private credit | Silas Sloan | Secondaries Investor | HarbourVest is the latest firm to launch a dedicated private credit secondaries fund as credit secondaries volume hit $4.6B in H1 2025, a 60% increase year-over-year.
š ļø Infrastructure
Inside the relentless race for AI capacity | Financial Times | The FT created a visual story about data centers, unpacking the how and the why behind the financing opportunity. Crusoe, a company with which Blue Owl has entered into a $15B data center partnership, was mentioned.
Investment firms KKR and ECP to launch joint $4bn data centre project | Antoine Gara | Financial Times | In an effort to accelerate the development of artificial intelligence infrastructure, KKR and ECP have agreed to build a 190-megawatt data center outside of Dallas, TX.
š„© GP Stakes
AMG and Montefiore Investment Announce Partnership | Patricia Figueroa | AMG | AMG will acquire a minority equity interest in Montefiore, a leading middle market private equity firm in France and southern Europe with ā¬5B in AUM.
Bridgewater founder Ray Dalio sells remaining stake in hedge fund, letter says | Carolina Mandl | Reuters | Bridgewater founder Ray Dalio sold his remaining stake in the firm he founded 50 years ago, while Bruneiās sovereign fund acquired a minority stake in the firm.
WisdomTree to Buy Ceres Partners, in Expansion Into Private Markets | Jack Pitcher | Wall Street Journal | The $128B AUM asset manager will pay Ceres, a farmland investment specialist, $275M in cash and an additional $225M in 2030 if certain revenue growth targets are hit as the acquisition signals a push into private markets by WisdomTree.
š¬ Private Markets Research
2025 US Insurance Investments Market Report: The power of the private markets | Husain Rupawala and Tim Zawacki | S&P Global | The US insurance industry is a large factor in the explosive growth of the private markets.
Quarterly Private Markets Report: Q2 2025 | NEPC | NEPC's comprehensive report covers a wide range of asset classes and strategies, addressing key themes such as geopolitical uncertainty, liquidity, flight-to-quality, artificial intelligence and the rise of wealth.
Enterprise FinTech VC Trends | PitchBook | VC funding for the enterprise fintech market hit its highest level in more than two years, with startups banking over $6B in Q2.
