Oaktree’s latest distressed debt fund notches $16B, and more… (short summary version)

Institutional allocators remain active, with Maine PERS considering a $150M+ increase to Twin Brook, San Jose Police & Fire committing $158M to alternatives, and Louisiana TRS allocating $100M to private credit while reviewing equity managers. BCI sold its Hayfin Capital stake but remains an investor.

In wealth management, Gresham, Veris, Kestra’s Bluespring, Merit, and Emigrant made leadership changes and acquisitions. LPL and Ameriprise expanded through recruitment.

Private funds saw Cresset’s rebrand, Oaktree’s $16B fund, BC Partners’ €6B raise, and Adamantem’s $221M environmental fund. Meanwhile, Apollo, M&G, and Everview advanced private credit and real asset strategies.

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