March 9, 2026
Sound Point Raises $1.5B Credit Fund with Illinois Teachers, LACERS Commitments
Sound Point Capital Management closed Sound Point Strategic Capital Fund III at its $1.5B hard cap, securing commitments from investors including the Teachers' Retirement System of the State of Illinois, Los Angeles City Employees' Retirement System, and Fresno County Employees Retirement Association. The alternative credit manager deploys the strategy through bespoke and transitional financing solutions backed by asset-based or first-lien collateral tied to cash-generative assets, typically allocating $150M to $300M per transaction.
Several other GPs also reported fundraising activity. Galvanize closed its decarbonization-focused real estate fund at $370M, and Apollo has reportedly begun marketing Apollo Investment Fund XI with a target of $22B to $25B and a final close planned for the first quarter of 2027. Elsewhere, newly launched Synergy Sports Capital is seeking $150M for its debut fund targeting control investments in emerging sports leagues and related ecosystem assets.
Allocator activity included several sizable commitments and pacing decisions. The Teachers’ Retirement System of Oklahoma approved $400M across three Ares strategies while also narrowing its general investment consultant search to Aon and Meketa, and Kentucky Public Pensions Authority outlined plans to commit roughly $600M to private equity in 2026 across nine funds, spanning buyout, venture and growth equity, and distressed strategies. And in Europe, Italian pension INPGI launched two infrastructure manager searches totaling approximately €70M focused on Italy and broader global infrastructure mandates.
In people news, Brookfield Asset Management appointed Shiv Gupta to lead its private equity operations in Australia and UK-based early stage and growth investor Balderton appointed Ryan Baker head of investor relations, while Canada’s CAAT Pension Plan is undergoing leadership changes following the departure of CEO Derek Dobson.
Read on for all the day’s fundraising news headlines.
Have you ever stared at a blank report builder wondering “how do I even start this query?” — meet Dakota Joe.
Dakota Joe is your AI report builder inside Dakota Marketplace (he’s hiding behind the Joe button on your home page). Just click, type what you need in plain English, and let Joe do the heavy lifting. No filters. No guesswork. Just answers.
Ask things like:
“Show me US pensions with over $5B that invest in private equity.”
“Create a list of RIAs that allocate to real estate.”
“Run a report of family offices in Boston with their CIOs.”
Interested in learning more?
INVESTMENTS & SEARCHES
AI Capital Surges, Fundraising Holds Strong, and $460B in Deals Mark February Activity
Private markets momentum continued in February as capital concentrated in AI infrastructure, cybersecurity, and healthcare innovation. OpenAI raised $110B, the largest private technology financing ever, while Anthropic secured $30B to expand frontier AI development.
Large sponsors continued to attract capital, with Veritas Capital closing $15.3B and venture platforms like Thrive Capital raising $10B+. Dakota tracked roughly 1,500 announced deals totaling ~$460B, including CyberArk ($25B), Waymo ($16B), and the $18.8B combination of BD’s Biosciences unit with Waters, signaling continued acceleration in private market activity.
Download the full February 2026 Private Markets Review to see where capital is concentrating and how investors are positioning across private markets.