The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Stonehage Fleming
Stonehage Fleming – in the throes of being taken over by US-based wealth manager Corient – has announced the final close of the Stonehage Fleming Global Private Capital Fund 2025 at $159 million.

The fund is 10th in a series of annual funds for the multi-family office’s Private Capital Annual Vintage Programme. Each fund invests in about eight best-in-class managers that will provide underlying exposure to around 100 to 150 high quality portfolio companies.

Stonehage Fleming has committed a total of more than $1.5 billion to private capital markets since 2001. The 2025 fund will continue the team’s primary investment strategy of focusing on the small and mid-market segments globally.

Blackstone
Blackstone has launched a Luxembourg-based fund that invests in private infrastructure.

The Private Markets Solutions SCA-SICAV – Blackstone Infrastructure Strategies ELTIF, also known as BXINFRA Lux – is aimed at eligible individual investors in Europe, as well as clients in Asia-Pacific and the Middle East, the US-listed asset manager said in a statement this week.

BXINFRA Lux will invest in physical assets such as digital and energy infrastructure, and transport.

Blackstone has become a prominent infrastructure player following its purchase, in early 2024, of Global Infrastructure Partners (GIP). The firm now has more than $140 billion in infrastructure assets as of 30 June 2025.

“We are expanding access to Blackstone’s institutional-quality private infrastructure investments for eligible investors across Europe, the Middle East and Asia,” Rashmi Madan, head of EMEA for Blackstone Private Wealth, said. “Infrastructure can offer income and appreciation potential through long-term investments that we see as highly complementary with investors’ current portfolios.”

Greg Blank, chief executive of BXINFRA Lux, said: “BXINFRA Lux is a unique opportunity for eligible individual investors to access Blackstone’s infrastructure platform.”

BXINFRA Lux will be available for eligible investors in the following jurisdictions: countries in the European Economic Area, Australia, Guernsey, Hong Kong, Israel, Jersey, Monaco, New Zealand, Singapore, Switzerland, the United Arab Emirates, and the United Kingdom.

The fund is authorised and supervised by Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier.

Hargreaves Lansdown, Schroders Capital
The UK’s Hargreaves Lansdown is putting two Long-Term Asset Funds that are run by Schroders Capital on its platform. (Schroders Capital is part of UK-listed Schroders.)

The move, taking effect from 15 September, means that Hargreaves Lansdown is the first platform to offer LTAFs within the self-investment personal pension (SIPP), Hargreaves Lansdown said in a statement this week.

The minimum investment is £10,000 ($13,551).

LTAFs, developed in the UK, are designed to give access for ordinary investors to alternative assets such as private equity, hitherto a market confined to large institutions and ultra-wealthy individuals. The LTAF is a category of authorised open-ended fund specifically designed to invest efficiently in long-term, illiquid assets. These include private equity, infrastructure, private debt, real estate and venture capital.

“Our business has been built upon the mission to democratise investing – and we see this as a milestone for the accessibility of private markets for individual investors in the UK. For retail investors with a long-term investment horizon, the appropriate knowledge and resources, and as part of a well-diversified portfolio, private markets can play an important role in delivering unique growth opportunities beyond what is typically available in public markets,” Emma Wall, head of platform investments, Hargreaves Lansdown, said. 

James Lowe, director, private markets, Schroders Capital, said: “This marks a watershed moment for the accessibility of private markets for eligible retail investors in the UK.” 

LTAFs can already be held in Self-Invested Personal Pensions (SIPPs) and Innovative Finance ISAs. From April 2026, eligible investors are also expected to be able to access LTAFs through a Stocks & Shares ISA, Hargreaves Lansdown said. 

The funds
The Schroders Capital Global Private Equity LTAF is a feeder fund into an existing strategy, the Schroders Capital Semi-Liquid Global Private Equity Fund which was launched in September 2019 and now stands at over $2.5 billion (as at 30 June 2025). Investors have exposure to over 270 companies.

The Schroders Capital Global Energy Infrastructure LTAF is a feeder fund into the Schroders Capital Semi-Liquid Global Energy Infrastructure Fund, launched 20 months ago; there is exposure to more than180 individual assets spanning large scale wind farms, solar parks and other infrastructure supporting the energy transition, such as green hydrogen, battery storage, district and industrial heating.

Hargreaves Lansdown said it has agreed a discounted OCF with Schroders Capital for HL clients. Schroders Capital has launched a new Q1 share class for each LTAF, which both have a lower OCF than the standard Z share class in the market. 

Morgan Stanley Investment Management
Morgan Stanley Investment Management has launched the Morgan Stanley Investment Funds Global Stars Fund.

The Luxembourg-domiciled Global Stars SICAV is a concentrated portfolio of 20 to 50 high quality, growth-tilted companies, which seeks emerging and established companies. 

The fund is managed by Alex Gabriele and Richard Perrott – portfolio managers and members of the international equity team.

Morgan Stanley Investment Management, together with its investment advisory affiliates, had $1.7 trillion in assets under management or supervision as of 30 June 2025.