SCERS Commits Across Private Markets
MGX Raises $50B for AI
Sacramento County Employees' Retirement System disclosed a series of private markets commitments and a new public equity mandate executed in April and May. The pension made a $55M follow-on to KKR's Asia Pacific Infrastructure Investors III, $50M to Gridiron Capital Fund VI, $30M to Ares Pathfinder Fund III, and $30M to Water Street Healthcare Partners VI. On the public equity side, SCERS added a new $450M Man Numeric World Ex-US separate account mandate while redeeming its Weatherbie Capital Specialized Growth account.
In other allocator activity, the Firemen's Annuity & Benefit Fund of Chicago opened a search for an MSCI ACWI ex-US passive index manager for a mandate ranging from $20M to $100M, with Callan overseeing the process. The New Jersey Division of Investment is separately inviting private equity emerging managers targeting under $1B for Fund I, II, or III to submit materials ahead of in-person meetings on July 30.
On the GP fundraising side, MGX – an Abu Dhabi-based AI and advanced technology investment firm – reportedly raised close to $50B in a fund structure focused on AI infrastructure, drawing from regional sovereign wealth funds and global institutional investors; and Pantheon surpassed the $4B target for Pantheon Global Infrastructure Fund V, its fifth flagship infrastructure secondaries vehicle, with no hard cap set and no final close yet announced. Also in private credit, White Oak UK announced plans to launch a senior-secured private credit strategy targeting up to £1.5B, focused on lending to UK manufacturing, engineering, healthcare, life sciences, and aerospace and defense businesses.
In people news, the Saskatchewan Healthcare Employees' Pension Plan appointed Paula Potter as CEO, succeeding retiring CEO Alison McKay; Potter most recently served as the plan's chief operating officer. Elsewhere, Ovata Capital Management, the Hong Kong-based hedge fund overseeing $1.5B, will shut down as founder and CIO James Chen and the majority of its staff prepare to join ExodusPoint Capital Management in the third quarter, with Chen taking on the head of equities role for Asia.
Read on for all the day’s fundraising news headlines.
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Crypto & Digital Assets: From Speculation to Allocation
Digital assets have crossed the threshold from speculative fringe to documented institutional allocation.
Dakota Marketplace tracks more than 4,000 institutional investors with disclosed digital asset ETF positions, spanning hedge funds, RIAs, endowments, and state pension funds, with new filers appearing every 13F cycle. The access barriers are gone, the regulatory framework is taking shape, and the largest capital pools in the world are still in the early stages of their digital asset journey.
A new Dakota Research report covers who is allocating and through which vehicles, how the manager universe is structured across VC, institutional asset managers, and hedge funds, where the regulatory calendar stands, and why tokenization is beginning to blur the line between a crypto allocation and a private markets allocation delivered on-chain.
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