Canada’s Sagard Holdings is launching a private equity fund aimed at retail investors, marking a significant move as alternative asset managers expand their focus beyond institutional clients and ultra-high-net-worth individuals, according to a report by Wealth Management.

A group of investors, advised by Maverick Carter – business partner of Los Angeles Lakers star LeBron James – is aiming to raise $5bn from private capital to establish a global basketball league that could compete with the NBA, according to a report by Bloomberg citing sources familiar with the

The People’s Pension, one of the largest independent master trusts in the UK, is to start investing a significant proportion of the £31bn of assets it manages into private markets later this year, with a target to grow this allocation to £4bn by 2030.

Strategic Value Partners (SVP), a global alternative investment firm with $19bn AUM, will provide €200m in preferred equity to support Bjelin Group’s long-term growth objectives.

Braemont Capital, a relationship-driven investment firm, has invested in TEC Services, a premier provider of essential janitorial and sanitation services to the grocery and food distribution end markets.

Hildred Capital Management, a private equity firm focused on lower middle-market healthcare, has successfully closed its third fund, Hildred Equity Partners III, according to a report by BusinessWire.

Allianz has closed its global Allianz Private Debt Secondaries Fund (APDS) at €1.5bn (£1.26bn), exceeding its initial target size of €500m, according to a report by Alternative Credit Investor.