The universe of closed end interval funds continues to grow, with a diverse group of Sponsors launching new funds. To track funds in registration, and new funds declared effective, see Public Listings Update under Tools and Data.
Several funds have been declared effective and begun raising capital in 2016. For example, Nexpoint Real Estate Strategies Fund was declared Effective by the SEC on July 1, 2016. The fund’s adviser is NexPoint Advisors, L.P., headquartered in Dallas, TX, a SEC-registered investment advisor, and an affiliate of Highland Capital Management. NexPoint/Highland is a highly experienced group in the alternative investments space. It serves as an external adviser to numerous credit and real estate funds, including publicly traded and private funds. With at least 6 closed-end fund interval funds in registration NexPoint/Highland is clearly making a large bet on the structure’s ability to deliver alternative strategies to a wide variety of investors.
Nexpoint Real Estate Strategies fund in particular is focused on investing in real estate and real estate real estate securities. According to the Prospectus:
In particular, the Fund will pursue its investment objective by investing the Fund’s assets primarily in (1) commercial mortgage backed securities (“CMBS”) and residential mortgage backed securities (“RMBS”), (2) direct preferred equity and mezzanine investments in real properties, (3) equity securities of public (both traded and non-traded) and private debt and equity real estate investment trusts (“REITs”) and/or real estate operating companies (“REOCs”) and (4) opportunistic and value added direct real estate strategies (through a wholly-owned REIT.