Non-Traded REIT and BDC Sponsors Launching Interval Funds
Non-traded REIT and BDC sponsors are entering the interval fund space en masse. This was a key trend in 2016 and it is continuing in 2017. Here is a partial list of Non-traded REIT and BDC Sponsors with interval funds in various stages of launch. For additional information, along with a comprehensive list, see Interval Fund Tracker’s rapidly growing Tools and Data Section.
Bluerock
Total Income (plus) RE Fund -Actively Raising Capital
Total Income(Plus) Mortgage Fund – In registration, not yet effective
Cion Investments
Cion Ares Diversified Credit Fund – Recently Launched
Colony Northstar
Northstar/Townsend Institutional Real Estate Fund, Inc. – In registration, not yet effective
Franklin Square/FS Investments
FS ENERGY TOTAL RETURN FUND – Recently launched
FS Diversified Income Fund – In registration, not yet effective
Griffin Capital
Institutional Access RE Fund – Active and currently over $1 billion in assets
Institutional Access Global Credit Fund – Recently launched
Highland Capital
Opportunistic Credit Fund – Recently launched
Additionally, Highland has several funds in registration, but not yet effective:
LATIN AMERICAN OPPORTUNITIES FUND
Medley Management
SIERRA TOTAL RETURN FUND – Recently launched
Sierra Opportunity Fund – In registration, not yet effective
Provasi (Formerly Behringer)
Vertical Capital Income Fund – Suspended and facing potential legal trouble.
Resource Real Estate
Real Estate Diversified Income Fd – Actively raising capital
Credit Income Fund – Actively raising capital
Other Interval Funds
Additionally Multi-Strategy Growth & Income Fd and Wildermuth Endowment Strategy Fd are both affiliated with broker dealers that are large participants in the non-traded REIT and BDC market.
VII Peaks is also converting its BDC to an interval fund.
Furthermore, a lot of interval funds are investing in various types of non-traded REITS and BDCs via the secondary market. But thats a topic for a future post. Stay tuned.
