Aaron Costello, head of Asia at LP consultancy Cambridge Associates, told attendees at the Milken Institute Global Investors' Symposium that the current private credit crisis stems from products being "mis-sold and mis-structured" rather than fundamental issues with the asset class. The cardinal sin, Costello said, is attempting to make inherently illiquid private markets liquid, noting the extra return compensates for the lock-up period.

Australia's Aware Super has appointed Alex Satchcroft as permanent PE head for its A$11 billion portfolio. Satchcroft, who joined the institution in 2023 after serving as a principal at Apax Partners, will report to private markets head Jenny Newmarch. The promotion follows Aware's creation of a new private markets division and recent leadership changes.

Mercer has acquired Madrid-headquartered AltamarCAM Partners, which brings €20 billion in assets under management and expertise in secondaries and liquidity management. The acquisition comes as Mercer expands its OCIO platform to help clients with portfolio design and liquidity solutions, responding to heightened demand for these services.