Industry News
New rule allows plan fiduciaries to consider climate change and other environmental, social and governance factors.
Firm closed Raven Asset-Based Credit Fund II at $834 million.
The acquisition increases Westwood’s total assets under management by 33% to $16.3 billion.
The 529 plan hired a new executive director from a nearby university following a search from this summer as its previous head left to join a Western university as deputy cio.
The firm recently hired a head of private market client solutions to optimize the role of private market investments in client portfolio as well as a director in its member strategy group to manage and maintain relationships with current and prospective clients.
The Western-based firm closed its inaugural fund, which invests in early-stage climate tech companies, with approximately $90 million in total commitments, above its $50 million target.
The senior managing director joins the firm from Ares Management, where he served as a partner.
The fund aims to provide investors access to a global, diversified portfolio of direct co-investments in buyout, growth equity and other private markets transactions.
The acquisition increases Westwood’s total assets under management by 33% to $16.3 billion.
The plan has “small exposure” to FTX across two of its venture capital managers.