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Target date funds are a logical first location for private markets funds because they are professionally managed, Brennan said.

The group also co-invests in many of its vehicles to align interest with funds management clients. But we expect less co-investments in the future as parking money in its own funds ties up capital.

The timeline for the next round of federal funds is unclear, though the commission is "encouraged" the money will be released soon because of the new Interior guidance, according to spokesperson Trey ...