Eva Thomas

New York

News Reporter at Citywire

https://t.co/jM8tZ9J4av Local news journalist

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Articles

Endowments, foundations look to OCIOs for alts access: Report

12 hours ago | citywire.com | Eva Thomas

In the institutional pipeline, outsourced chief investment officers (OCIOs) are most in demand by foundations and endowments, which use OCIOs to - among other reasons - get better access to alternatives. That’s according to a new report from Boston-based consultant Cerulli Associates, which found that 91% of OCIO providers surveyed said that the endowment and foundation channels are ‘most critical’ for growing the OCIO providers’ AUM.
iCapital to acquire Citi’s alternatives fund platform

1 day ago | citywire.com | Eva Thomas

Citi Wealth has sold its global alternative investment fund platform to iCapital. The alternative investment-focused turnkey asset management programme will acquire Citi Global Alternatives and become the advisor to its 180 feeder funds, covering private credit, private equity, growth equity, infrastructure and venture capital. Financial details of the agreement were not disclosed. iCapital declined to comment regarding how many client assets were in the 180 funds. Already have an account?
Vanguard hit with proposed class action lawsuit over data sharing

2 days ago | citywire.com | Eva Thomas

A proposed class action lawsuit has been filed against the Vanguard Group alleging that the $10.1tn firm ‘surreptitiously’ shared sensitive client data with third parties.
SEI drops Allspring from 2 funds with $1.3bn in combined assets

2 days ago | citywire.com | Eva Thomas

Gatekeepers at SEI Investments have dropped Allspring Global Investments from two funds with more than $1.3bn in combined assets. Allspring has been dropped from $566m SEI US Managed Volatility fund (SVYAX) and the $777.8m SEI Global Managed Volatility fund (SVTAX), according to a Friday filing with the Securities and Exchange Commission (SEC). On SVYAX, Acadian Asset Management has been added as a subadvisor, the filing shows. On SVTAX, Acadian has served as a subadvisor since 2006.
Asset managers should expect smaller bonuses in 2025: report

6 days ago | citywire.com | Eva Thomas

Asset management professionals should expect less in the way of bonuses this year, as incentives are expected to decline in the wake of a declining market and uncertainty ignited by tariffs. That’s according to a new report from Johnson Associates, a financial services compensation consultant based in New York City, which found that asset managers can expect bonuses to be between 5% and 10% less in 2025 than they were last year.
Citi Wealth hires JPM vet to lead global capital markets biz

6 days ago | citywire.com | Eva Thomas

Citi Wealth has hired JP Morgan alum Russell Budnick to lead its global capital markets business, replacing Citi veteran Iain Armitage. As global head of capital markets, Budnick will report to Citi Wealth’s head of investment solutions, Keith Glenfield. Armitage is retiring from Citi after 30 years, Citi confirmed to Citywire. He had been the global head of capital markets since 2021, per his LinkedIn page. Already have an account?
Top RayJay gatekeeper plots first all-ETF model portfolio

1 week ago | citywire.com | Eva Thomas

As it currently stands, Raymond James’ suite of model portfolios doesn’t include an ETF-only option. But, according to one of the firm’s top gatekeepers, that could change. Just this year, RayJay added its first active ETFs to its discretionary models, the research into which is spearheaded by Tom Thornton, research director for RayJay’s Asset Management Services group (AMS). However, Thornton said, there’s a problem when it comes to constructing an all-ETF model portfolio.
TPG acquires $7.7bn PE firm Peppertree Capital

1 week ago | citywire.com | Eva Thomas

TPG on Wednesday revealed that it has entered into an agreement to acquire Peppertree Capital Management, a PE and investment firm focused on digital infrastructure, in a deal worth up to $960m. TPG is purchasing the Chagrin Falls, Ohio-based firm from Affiliated Managers Group (AMG) for approximately $242m in cash and $418m in equity, as well as potential earnouts valued at $300m. The transaction is expected to close in the third quarter of 2025, the firm announced Tuesday.
Janus eyes more deals after winning $45bn Guardian mandate

1 week ago | citywire.com | Eva Thomas

Janus Henderson reported assets under management hit $373.2bn in the first quarter, a 5.7% increase on the year, but a 1% drop since the start of 2025. But the main topic of conversation during the firm’s earnings call yesterday was the announcement last month of its partnership with Guardian Life Insurance Company of America to manage its fixed income assets - and how CEO Ali Dibadj is interested in the prospect of similar deals.
Fidelity PM to depart firm, come off $9bn in funds

1 week ago | citywire.com | Eva Thomas

Fidelity portfolio manager Alexandre Karam is leaving the firm, Citywire can confirm. Karam has been with Fidelity since 2016. On Wednesday, he was taken off of more than $9bn in funds, according to filings with the Securities and Exchange Commission (SEC). A spokesperson for the firm confirmed his departure but did not provide a specific date.