Connect Money

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LPL Financial LLC has added The Noble Group, a $2.1 billion wealth management firm formerly with Raymond James, to its broker-dealer, RIA and custodial platforms. Joseph Rose, AIF® #financialadvisory #connectmoney

Summit Partners closed its 12th flagship U.S. growth equity fund, Summit Partners Growth Equity Fund XII, with $9.5 billion in capital after only beginning fundraising in late April. The general partner will be the single largest investor in the fund, in line with the firm’s prior funds. Peter Chung #alternativeassets #connectmoney

Chatham Financial, a risk management technology and advisory provider, has acquired Verumex (VmX), a global data platform for the CRE industry. Financial terms of the deal were not disclosed. Paul Hiatt, Ravi Vijayaraghavan #directinvestment #connectmoney

Private Advisor Group announced Artemis Wealth Advisors, an affiliate of the wealth management firm and co-led by Cameron Staley, CPFA® and Andrew Wilson CFP®, ChFC, CLU, as successor and acquirer of Rein Investments Advisor, LLC, managed by Jeffrey Rein CFP®. #directinvestment #connectmoney

Arete Wealth, a full-service hybrid broker-dealer and registered investment advisor, announced a partnership with Luma Financial Technologies, an alternative investment platform. #financialadvisory #connectmoney

The Teachers’ Retirement System of Louisiana (TRSL) three strategic private equity allocations in August. The $26 billion system has $4.3 billion in private equity investments, and in this current round of mandates, Hamilton Lane recommended a middle market buyout approach, a growth equity fund, and a Europe-focused product. #alternativeassets #connectmoney

StepStone Group Inc. announced the final close of StepStone Secondary Opportunities Fund V, L.P. (SSOF V) and related separate accounts with $7.4 billion of capital commitments, doubling the size of its predecessor fund. #alternativeassets #connectmoney Mark Maruszewski, Adam Johnston, John Kettnich, CFA and Thomas Bradley

Creative Planning announced that alternative asset manager TPG has made a “substantial” minority investment in the company. TPG is investing in the business through TPG Capital, its U.S. and European private equity platform. Terms of the transaction were not disclosed. #latestnews #directinvestment #connectmoney

ARCH Venture Partners announced the closing of ARCH Venture Fund XIII, a venture capital fund with more than $3 billion to support the founding and growth of early-stage biotech companies working with AI and data-driven insights. Fund XIII follows the nearly $2.98 billion Fund XII announced in June 2022. #alternativeassets #connectmoney