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The South Carolina Retirement System Investment Commission committed $400 million to three private-market funds, expanding a $17.6 billion portfolio that produced mixed asset-class results during fiscal 2026. The $58 billion retirement system returned 14.53% for the year ended June 30, outperforming its 13.98% policy benchmark, according to RSIC data. Its latest allocations include two private …

CIM Group and Bryant Group Ventures have increased the investment capacity of their affordable housing impact fund to more than $370 million after securing a commitment from Fifth Third Bank and additional capital from existing investors. The CIM-BGV Affordable Housing Impact Fund’s latest closing included Fifth Third as a new investor, along with increased commitments …

Tether and London-based Fasanara Capital have launched StableFund, an evergreen private credit vehicle backed by $400 million in sponsor co-investment and designed to raise as much as $3 billion from outside institutional investors. The fund will invest in short-duration, asset-backed credit opportunities sourced through Fasanara’s global fintech lending network. Its strategy will focus on financing …

Asset-tokenized platform Securitize has launched the Neuberger Securitize High Income Tokenized Fund, marking it as the first high-yield bond fund with investment manager Neuberger Berman.  The fund aims to attract risk-adjusted returns by investing primarily in high-yield and fixed-income investments across public blockchain networks such as Avalanche, Ethereum, Solana, and Sui.  The move comes as …

Registered investment advisor RFG Advisory has merged with two of its platforms to launch a wealth management firm.  The two firms, Louisiana-based Williams Financial Advisors and Alabama-based Volare Wealth Advisors, have joined together to form WFA Volare, which manages $750 million in assets.  The newly formed RIA brings together a 16-person team, which focuses on …

OnePoint BFG Wealth Partners has lured a Florida-based financial advisory team from Northwestern Mutual, where they oversaw $400 million in assets under management.   Tampa, FL-based Bast Financial Group, which is led by founder and private wealth advisor Rebecca Bast, provides wealth management services, including financial planning and multigenerational wealth transfer, to high-net-worth clients, including business …

Federal Reserve Vice Chair for Supervision Michelle Bowman said that the Fed board will consider final changes to its bank stress testing framework in the coming weeks. The proposals would make the models more transparent and reduce swings in the capital requirements that result from annual tests. The board has yet to approve them. Speaking …

The Federal Reserve raised interest rates by a quarter point Wednesday, delivering its first increase since July 2023 as persistent inflation and higher energy costs forced policymakers to reverse course after easing policy in 2024 and 2025. The Federal Open Market Committee voted unanimously to lift the federal funds rate’s target range to 3.75% to …

Merit Financial Advisors is reshaping its executive team as the acquisitive wealth manager prepares for its next stage of expansion, pairing a planned CEO succession with broader responsibilities for several senior leaders. Effective Jan. 1, 2027, founder and CEO Rick Kent will become executive chairman, President Kay Lynn Mayhue will succeed him as CEO, and …

Direct indexing is moving from a specialized tax-management strategy toward a core wealth-management capability, although technology integration and adviser education have not kept pace with adoption, according to new research from FTSE Russell. Adoption Accelerates The index provider’s third annual Direct Indexing Survey found that 41% of surveyed U.S. financial advisers use direct indexing, up …

Battery Global Advisors has closed its inaugural Digital Infrastructure Fund with $208.5 million in commitments, exceeding its $150 million target. The fund invests at the corporate layer of the digital infrastructure value chain, backing data center and related platforms rather than financing only individual facilities. It targets businesses with contracted revenue, secured power access and …

Carlyle has closed its second infrastructure credit fund with approximately $2.3 billion in commitments, exceeding its $2 billion target. Carlyle Infrastructure Credit Fund II is more than three times larger than its $643 million predecessor. The fund attracted institutional investors from North America, Europe and Asia. CICF II provides directly originated, privately negotiated financing to …

Institutional investors are showing their strongest appetite for alternative investments in five years, while seeking greater control through co-investments and using artificial intelligence to ease operational bottlenecks, according to new research from Dynamo Software.  Sixty-three percent of limited partners plan to increase their alternative-asset allocations during the next year, the highest reading in the history …

Federal Reserve Vice Chair for Supervision Michelle Bowman said that the Fed board will consider final changes to its bank stress testing framework in the coming weeks. The proposals would make the models more transparent and reduce swings in the capital requirements that result from annual tests. The board has yet to approve them. Speaking …

Tether and London-based Fasanara Capital have launched StableFund, an evergreen private credit vehicle backed by $400 million in sponsor co-investment and designed to raise as much as $3 billion from outside institutional investors. The fund will invest in short-duration, asset-backed credit opportunities sourced through Fasanara’s global fintech lending network. Its strategy will focus on financing …

Vestmark has been tapped by Vanguard to provide an expanded source of model portfolios to registered investment advisors, as asset classes and service preferences continue to be growing factors for clients.  Vanguard has launched the Vanguard Custom Model Portfolios, which aims to provide advisors with customized portfolios through the firm. Through its partnership, Vestmark will …

SoftBank Group launched an offering equivalent to more than $11 billion to fund its latest OpenAI investment, testing investor demand for one of the largest speculative-grade corporate bond transactions on record. The Japanese investment conglomerate is marketing $10 billion of dollar-denominated senior unsecured notes and €1 billion, or about $1.15 billion, of euro-denominated debt, according …

PGIM has expanded its active exchange-traded fund lineup with two core equity strategies managed by Jennison Associates, targeting market segments that can help investors diversify beyond large U.S. companies. The PGIM Jennison Small-Mid Cap Core Equity ETF trades on NYSE Arca under the ticker PJSM. Under normal market conditions, the fund invests at least 80% …