Alternatives
The transaction is expected to close no later than the middle of 2023.
Two managers were selected to manage the capital investment vehicle designed to channel private capital to mission-driven banks due to their complementary backgrounds.
The plan added up to $340 million in commitments to existing private equity and real estate manager relationships.
The plan added up to $1.625 billion in new commitments at last week’s meetings.
The plan committed $910 million total to one new manager and two existing managers this week.
The commitment will fit into the debt-related special situations bucket of the plan’s private equity portfolio.
The plan disclosed two private equity commitments and its exposure to the bankrupt cryptocurrency exchange yesterday.
The firm added two operating partners to work with management and investment teams to build value with its portfolio companies.
Legal firm’s investment management group found market for alternative data has become mainstream but also has room for growth.
The fund focuses on early-stage start-up companies in the U.S. or Israel.