State Street Global Alliance has announced a commitment of US$100 million in acquisition capital and $1 billion in seed capital by its partners to find additional opportunities for investment.

It seeks to invest in early stage asset management firms with cutting-edge investment strategies in an effort to generate private equity-like returns.

Global Alliance is a joint partnership owned by State Street Global Advisors and Stichting Pensioenfonds ABP, a pension fund for Dutch government employees.

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