Wafra raises $1.5bn for alternatives fund

Wafra, an alternatives asset manager backed by Kuwait’s public pension fund, has pulled in more than $1.5 billion of capital for a fund that will acquire minority stakes in other alternatives funds.

The Constellation Generation IV is Wafra’s fourth flagship fund.

It will target alternatives managers, such as private equity funds, with less than $3 billion in assets under administration.

The investment has come from a number of North American pension funds as well as the Kuwait Investment Authority and Abu Dhabi-based sovereign wealth fund Mubadala Capital.

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