Hunter Point Raises $4.3B for GP Financing Platform

Hunter Point Capital held final closes on the inaugural vintages of its NAV Lending and Preferred Solutions strategies, raising $4.3B in total commitments across both vehicles. The two strategies form the firm's GP Financing Solutions platform, which has completed 13 transactions since launch and operates separately from Hunter Point's GP Stakes business; the closes bring the firm's total AUM and commitments to approximately $10B. 

On the broader GP fundraising side, KKR has raised about $1B for its third opportunistic real estate credit vehicle, KKR Opportunistic Real Estate Credit Fund III, according to a Form D filing, with Mass PRIM and the San Diego City Employees' Retirement System committing $200M and $50M, respectively, according to Dakota data. In asset manager M&A, Janus Henderson Investors agreed to acquire Frankfurt-based private markets manager Rantum Capital for undisclosed consideration, adding roughly €1.2B in private credit and private equity strategies focused on the DACH mid-market and continuing a string of acquisitions that has also included NBK Capital Partners and Victory Park Capital.

Among US allocators, the North Dakota Department of Trust Lands approved $200M in infrastructure commitments split between Blackstone Infrastructure Partners and JP Morgan Infrastructure Investments Fund, a rebalancing move staff said will bring the pension's infrastructure allocation to approximately 9.6%. Elsewhere, the Vermont Pension Investment Commission approved a $25M top-up to its existing HarbourVest Dover Street XII commitment, bringing its total to $70M in the $20B-target secondaries fund. On the search front, the Illinois Police Officers' Pension Investment Fund interviewed Partners Group and EQT as finalists in its private infrastructure manager search, targeting up to $450M; a final selection is expected at the July 31 meeting.

In senior leadership developments, Northern LGPS, a newly FCA-regulated £70B LGPS pool, appointed John Dewey as CIO. Dewey most recently served as CIO of the £23B West Yorkshire Pension Fund, one of Northern LGPS's three constituent funds. And Barings announced three changes to its senior leadership team: Brad Finkle joins as global COO from TIAA; Bryan High will join the senior leadership team from his current role as head of Global Private Finance; and president Eric Lloyd will move to vice chairman while retaining his seat on the team and continuing as executive chairman of Barings BDC.

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

Bain Capital closed at $10.5B against a $7B target. Kayne Anderson had to raise its hard cap. THL, Apollo, and Water Street all closed oversubscribed.

For managers with established track records, May wasn't difficult. It was constructive — almost unusually so.

Meanwhile, pension capital committed hit $25.1B, nearly 56% above April's $16.1B.

The capital is moving. The question is whether you're seeing it in time.

Dakota's May Fund Launches & Closes tracks where it went — and what's still in market.

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