Capital Constellation, a group of global institutional investors providing investment capital based in New York and managed by Wafta Inc., has closed its Constellation Generation IV at $1.5 billion.

Capital Constellation was established in 2018 to continue its investments in growth alternative asset managers. CG IV is the latest in the Constellation series of funds that provides growth capital to private alternative asset management firms. To date, Constellation funds have invested in nine asset management firms, including Avista Capital, Post Road Group and Broad Sky Partners. With CG IV, the Constellation network adds four new asset owner partners.

“Constellation’s thesis of aligning talented management teams with preeminent institutional investors continues to be borne out in the track record of investment performance and caliber of partners within the Constellation network,” says Daniel Adamson, senior managing director at Wafra and president of Capital Constellation. “With the successful conclusion of CG IV’s fundraise, we have made real strides toward realizing the vision laid out by Constellation’s founding members.”