Interval Funds Monthly- November 2024

In November 2024, one new interval fund, and five new tender offer funds filed registration statements.

Columbia Threadneedle has joined the long list of traditional asset managers entering the alternative investments space when it registered the Columbia Credit Income Opportunities Fund on November 26. This fund will invest in a wide array of public and private credit sectros, including corporate, mortgage, and consumer in the US and foreign markets. It will offer Class and Institutional share classes, although the draft registration statement doesn’t yet include details on fees.. Columbia operates as a subsidiary of Ameriprise, and has long been active in the traded CEF and ETF space, but this is their first interval fund. As of September 30, Columbia had $672 billion in total assets.

The Align Alternative Access Fund is a public tender offer fund that will provide investors with tactical exposure to diversified alternative strategies including private credit, real estate, private equity, and options strategies. It is offering one share class, and will not charge a sales load. The minimum initial investment for Align Alternative Access Fund is $50,000.

Coatue CTEK Fund is a public tender offer fund that will seek to generate long term capital appreciation by investing in the tech companies in a wide range of sectors subject to disruption. It is offering three share classes: S, D, and I, with minimum investment levels ranging from $50,000 to $1 million.

Corient Registered Alternatives is a privately offered tender offer fund that will invest in a wide range of alternative investments including direct private equity investments, co investments, and PE secondaries, unlisted BDCs and REITs, and private funds. It is offering one share class, and the minimum initial investment is $50,000.

Private Debt and Income Fund is a publicly offered tender offer fund that will invest in income generating credit investments. It is offering Class I shares, which will not have any sales load. Minimum initial investment is $50,000.

SEG Partners Long/Short Equity Fund is a publicly offered tender offer fund that will seek maximum total return. It is offering both Class A and I shares, which will have minimum initial investments of $50,000 and $1 million, respectively.

NT BDCS and NT REITs

Two new perpetual life public NT BDCs filed registration statements in November. Antares Private Credit Fund will raise up to $2 billion across three different share classes. Antares also manages Antares Strategic Credit Fund, which is a private NT BDC. HPS Corporate Capital Solutions BDC is raising up to $4 billion across three share classes. It will merge with the other private NT BDC fund that HPS manages. Note- various news sources have reported that Blackrock is planning to buy HPS.

Franklin Benefit Street filed another private NT REIT: Franklin BSP Real Estate Debt, Inc. This fund will originate senior floating rate mortgage loans on commercial properties, and investment in a variety of other real estate related assets.

Revolutionizing Financial Services with Private AI The DIWire

Stanger Raises 2024 Retail Alternative Fundraising Forecast to $120B WealthManagement.com

Interval Funds Are Hot. Do Investors Understand the Risks? Barron’s

Barbarians on the Porch: Private markets are going mainstream The Economist

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