Future Fund Oman Deploys $1.74B; BlackRock’s Alts Platform Assets Swell to $715B

Future Fund Oman unveiled a package of 105 strategic projects and investments totaling $1.74B, combining $585M in FFO commitments with roughly $458M in local co-investment across renewable energy, advanced manufacturing, tourism, and healthcare. The fund's largest direct bets include Orion Solar, a planned 6 GW solar cell and module facility, and the Gallant Industrial Project, which will produce 66,000 tons annually of lithium iron phosphate battery material. FFO separately committed $200M each to Vivo Capital and Certares and launched a new $130M Healthcare Investment Fund.

Among US allocators, Dallas Police and Fire Pension System hired Arrowstreet Capital to run up to $121M in global equity strategies, funded through the termination of a Manulife Investment Management mandate, and is reviewing a proposed allocation shift that would raise its private equity target to 8% from 6% and introduce a new 5% infrastructure and real assets category. Elsewhere, Cook County Annuity and Benefit Fund approved $175M in follow-on commitments across two real assets vehicles and terminated its international small-cap mandate with Boston Common Asset Management, shifting up to $225M each to Driehaus Capital Management and Causeway Capital Management.

On the GP fundraising side, Greylock closed Greylock 18, a $1.5B early-stage venture fund targeting AI startups and 50% larger than its 2023 predecessor; and Silver Hill Energy Partners closed its fifth fund at $1.28B, oversubscribed and larger than its $1.13B predecessor. Separately, BlackRock said during its earnings call that it added $15.4B in private markets net inflows in the second quarter, with CFO Martin Small reiterating a $400B cumulative fundraising target through 2030.

In leadership developments, Nevada Public Employees' Retirement System named Steve Edmundson executive officer, succeeding Tina Leiss after more than 22 years with the system, with Lauren Larson set to succeed Edmundson as CIO. In other people news, Sean O'Malley joined Benchstone Capital Management as director of marketing and investor relations from Altium Capital.

Read on for all the day’s fundraising news headlines.

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Dakota tracked $296.5bn in private capital transactions in June, up sharply from May on the back of MGX's ~$50bn AI infrastructure raise and SpaceX's $60.0bn acquisition of Anysphere. Clearlake, Blackstone, Crescent, and Ares all closed flagship funds well above target.

Get the full breakdown in this month's Private Markets Review.

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