KKR Bullish on Fundraising; Chicago PABF Approves $110M in PE
KKR expressed confidence in its fundraising outlook despite a more challenging-than-expected operating environment this year, reporting $28B in new capital raised during Q1 and $127B over the trailing 12 months. During its quarterly earnings call, co-CEO Scott Nuttall cited strength across pension and sovereign wealth funds, insurance companies, and high-net-worth wealth globally as the basis for the firm's confidence. KKR also said it completed its acquisition of sports investment firm Arctos Partners and is already exploring new product structures, potentially including an evergreen vehicle and a secondary/GP solutions vehicle incorporating sports assets.
In other GP fundraising updates, Ancala reportedly launched its fourth flagship infrastructure fund with €2B ($2.35B) in investment capacity; Corbin Capital Partners wrapped up capital raising for Corbin Litigation Finance Fund I at $342M across the main fund and related co-investments; and Matt Holt, former president of private equity at New Mountain Capital, is reportedly gathering commitments for a new healthcare fund.
On the allocator side, the Chicago Policemen's Annuity & Benefit Fund approved $110M in private equity commitments across four vehicles spanning co-investment, venture, and growth categories, following a competitive RFP process advised by NEPC. Elsewhere, Contra Costa County Employees Retirement Association committed $50M to L Squared Capital Partners V; the pension's private equity portfolio stands at approximately $1.32B, in line with its 10% target.
In people news, Wesleyan University named Jonathan Farrar as CIO effective July 1, succeeding Anne Martin after her 16-year tenure. Farrar has worked in the Wesleyan Investments Office since 2014 and was elevated to deputy CIO three years ago as part of a planned succession.
Read on for all the day’s fundraising news headlines.
Active ETFs have grown significantly in recent years, and asset managers are increasingly using them to deliver multi-manager strategies to retail investors.
This report from Russell Investments walks through how the structure works, where they see the strongest case for active management, and how they approach manager selection and portfolio construction.
Or listen to our Dakota Insights podcast episode where our very own Chris and Alex sit down with Nick Haupt from Russell Investments to discuss multi-manager ETFs in more detail!
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Real Assets
$271 Billion in Deals — and Record Fundraising to Match
April was another active month across private markets.
Dakota tracked 1,717 transactions and $271B in deal value, with large-scale acquisitions driving activity across industrials, technology, and energy.
On the fundraising side, the market set records.
KKR raised $23B for North America buyouts, EQT closed $15.6B for Asia-Pacific, and private credit vehicles from Blackstone and Ares surpassed expectations.
The takeaway isn’t just volume. It’s breadth.
Dakota’s latest Private Markets Review captures how capital is being deployed across strategies, sectors, and geographies.
Download the report →
Other News
CIO Turnover Is Creating a Window in the Endowment Market
Endowment portfolios don’t change often.
But when leadership does, everything gets reviewed.
Dakota has tracked a wave of CIO transitions across the endowment landscape — each triggering a 12–18 month window where manager relationships are reassessed and new allocations are considered.
For investment firms, these moments matter.
They represent one of the few times established portfolios are open to change.
Dakota’s latest report maps these transitions alongside broader trends in allocation, governance, and portfolio construction.
Because in institutional fundraising, timing can matter as much as access.