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EJF Capital has raised $470m to invest in litigation finance, indicating increasing interest in this alternative investment strategy. The firm's ability to raise such a significant amount of capital demonstrates a growing acceptance and demand for litigation finance as an investment opportunity. https://www.ejfcap.com/

Los Angeles-based private equity firm St. Cloud Capital has closed its fourth fund, St. Cloud Capital Partners IV SBIC LP, with total capital commitments of $236 million, including Small Business Administration leverage. The firm focuses on making control and non-control investments in lower middle-market companies with annual revenues between $10 million and $150 million. The new fund has already closed three investments in companies providing electronic monitoring services, vision care services, and micro electro-mechanical systems. St. Cloud Capital now manages over $700 million in capital. https://www.stcloudcapital.com/

The Economist: Two truisms have taken hold in the City of London in recent years. One is that Britain’s stockmarket is drifting into irrelevance, having lost its risk appetite, much of its investor base and hence its allure to capital-hungry businesses. The other is that Britons’ pension savings are invested in the wrong things. https://www.economist.com/britain/2023/07/12/british-pension-funds-agree-to-invest-more-in-private-markets

The alternative asset management industry, including private equity and hedge funds, has seen a rise in ownership of sports franchises due to their impressive returns and relaxed ownership rules by professional sports leagues. Skyrocketing valuations of sports teams, driven by multiple revenue streams and media rights, have attracted high-net-worth executives and private equity firms as investors. https://fortune.com/2023/07/13/venture-hedge-fund-pe-owners-sports-teams-nba-nfl-nhl/

DK Opportunities Fund VI targets less liquid and longer-duration opportunities arising from capital dislocations, motivated sellers and complex situations. https://www.davidsonkempner.com/

Alternative investment firm Angelo Gordon has closed its AG Asset Based Credit Fund LP with over $1 billion in equity commitments, exceeding its target of $800 million. The fund focuses on specialty private credit investments in a variety of trade formats across consumer, real asset, and other specialty lending markets. It aims to fill financing gaps by providing flexible capital services to assets or borrowers that don't fit into traditional lending categories. The firm believes that current market conditions, such as rising rates and a pullback by banks, will lead to a significant dislocation in the specialty finance markets and a need for capital across different asset types. https://www.angelogordon.com/

NYT: A new study finds that private equity firms own more than half of all specialists in certain U.S. markets. https://www.nytimes.com/2023/07/10/upshot/private-equity-doctors-offices.html

Apollo Global Management is expanding its family office unit to target the world's wealthiest individuals, recognizing the growing demand for private assets among family offices. Private equity firms like Apollo, Blackstone, and KKR are looking beyond traditional institutional investors and turning to family offices as a new source of capital. The family office unit at Apollo will focus on providing direct access to co-investments and direct deals, meeting the demand of sophisticated family offices for more involvement in investment decisions. https://finance.yahoo.com/news/apollo-global-builds-team-target-143434597.html

LGT Capital Partners has successfully closed CGR IV, a fund that provides investors with access to global venture and growth stage opportunities. Their target was $750m. They raised $930m. The fund will utilize secondary and co-investments to increase exposure to competitive core companies across the US, Europe, and Asia. https://www.lgtcp.com/en/

Westlake Village BioPartners has launched a $450 million fund to support the development of early-stage biotech companies in Los Angeles and beyond. The VC firm has raised a total of $1.3 billion since 2018 and has created more than 20 companies, positioning itself as the creator of the Los Angeles biotech hub. https://westlakebio.com/

Wing Venture Capital has closed a $600 million fund to support early-stage startups in the field of artificial intelligence. The fund will be used to invest in companies that develop AI tools with a business application. https://www.wing.vc/