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LPL Financial is acquiring Commonwealth Financial Network, the largest independently owned wealth management firm in the country, for $2.7 billion in cash.
The Alfred P. Sloan Foundation has hired former Cornell University Head of Private Equity Sean Olesen as managing director of investments
Sona Menon will join Morgan Stanley Wealth Management as its new head of outsourced cio.
The $273.4 billion New York State Common Retirement Fund made an emerging manager commitment in the first quarter.
The $56.1 billion Illinois Municipal Retirement Fund agreed to increase its target for assets managed by minority- and/or women-owned firms last week.
The $497 million City of New Orleans Employees Retirement System is searching for international equity managers.
The $1.1 billion Chicago Transit Authority Retiree Health Care Trust hired a pair of minority-, women- and disabled-owned managers in the fourth quarter.
The $1.3 billion City of Kansas City (Mo.) Employees Retirement System hired a domestic small-cap growth equity manager at its March 19 board meeting.
A new report offers the same story: it is hard for small managers to fundraise. This time, it is Hamilton Lane’s annual market overview that frames the struggles for small managers amid a broader decline in fundraising.
Private equity investments and exits were up 37% and 34%, respectively, in 2024, and the industry picture is evolving in 2025 even further.
