Interval Funds Monthly – February 2025

Six new interval funds filed draft registration statements in February.

Fund NameStrategyRegistration Date
Optimize Premium Yield FundCredit2/21/2025
Optimize Growth Equity FundPE/VC2/21/2025
JPMorgan Credit Markets FundCredit2/14/2025
Pursuit Asset-Based Income FundCredit2/5/2025
Oaktree Asset-Backed Income Private Fund Inc.Credit2/3/2025
Oaktree Asset-Backed Income Fund, Inc.Credit2/3/2025

Optimize Interval Funds

Optimize Wealth Management,  registered two interval funds on February 21: the Optimize Premium Yield Fund, and the Optimize Growth Equity Fund.

Optimize Premium Yield Fund  will invest in a portfolio of income oriented, yield oriented, and total return oriented investments.  It will use a multi-asset investment strategy, investing n private credit funds, private equity funds, private REITs, infrastructure funds, secondary funds, etc. 

In contrast, Optimize Growth Equity Fund will have a multi- asset multi strategy approach, including stakes in growth-oriented companies, private investment funds and publicly traded private equity firms

Both of the new Optimize sponsored interval funds specify that they will only sell shares to Qualified Clients. However, the minimum initial investment for both funds is only $100. 

Optimize Wealth Management is based in Canada and offers a wide range of portfolio management, financial planning, and a wide range of related services, including estate planning and tax strategy. These funds are both offering one share class: OWM shares, implying that Optimize intends to make them available to their wealth management clients. 

JP Morgan Interval Fund

On February 14, JP Morgan filed a draft registration statement for its first interval fund: the JPMorgan Credit Markets Fund. JP Morgan’s new interval fund will invest in an actively managed portfolio of credit investments, including but not limited to loans, bonds, other credit instruments, collateralized debt obligations, collateralized loan obligations, asset-backed securities, credit-linked notes or other structured finance securities. The fund will have three share classes: S, D and I.

None of the share classes in JP Morgan’s new interval fund will have a sales load, although the class S and D shares will have a distribution and servicing fees.

JP Morgan already has a non-traded REIT, and several tender offer funds but this is their first interval fund.

Pursuit Asset-Based Income Fund

Pursuit Asset-Based Income Fund filed a draft registration statement on February 5. The fund intends to focus on niche-asset based alternatives. However, it filed a delaying amendment on February 10.

Oaktree Interval Funds


Oaktree registered two interval funds in February. Both of the Oaktree interval funds will invest in a diverse portfolio of asset-backed finance investments across a broad range of industries focused on pools of contractual assets, including, but not limited to, loans, leases, mortgages, or other receivables. However, the two funds differ in their offering type and share structure.

Oaktree Asset-Backed Income Private Fund Inc. is conducting a private offering with one share class. In contrast, Oaktree Asset-Backed Income Fund will conduct a public offering of three share classes, once the SEC declares the prospectus effective.

This isn’t Oaktree’s first interval fund. Oaktree also sponsors the Oaktree Diversified Income Fund, which launched in 2021, and currently has $275 million in net assets.

Other Alternative Fund Registrations

iDirect Multi-Strategy Fund, LLC filed a draft registration statement as a new tender offer fund. Its strategy will be to invest in a portfolio of hedge funds. iCapital, which serves as the fund’s adviser, is already active in the retail alts space with products such as the iDirect Private markets Fund, another tender offer fund with $866 million in net assets.

First Trust registered two new privately offered tender offer funds. FT Vest Hedged Equity Income Fund :Series B1 is a new private tender offer fund that will pursue a hedged equity investment strategy nvesting primarily in U.S. exchange-traded equity securities contained in the S&P 500® Index, (ii) mitigating some of the risk of loss of principal by purchasing a hedge against the long term decline, and targeting a net income of 12.0% per year. The FT Vest Total Return Income Fund: Series B1 will follow a similar hedged equity strategy, but with more emphasis on income. First Trust is adviser for both funds, and Vest Financial is the subadviser.

Blackstone Private Real Estate Credit Fund filed a registration statement as a private NT BDC. This fnd will originate, acquire, finance and manage a portfolio consisting of a broad range of real estate-related investments in or relating to private and public debt, equity or other interests on a global basis, with a primary focus in the U.S. The Fund may invest in, or originate, real estate-related debt and equity securities, including subordinated debt and mortgage-backed securities (“MBS”). It intends to operate as a RIC under the tax code, rather than a REIT.

The Rise of Infrastructure Funds Alternative.Investments

Do interval funds deliver an illiquidity premium? Privates in Public

AGM Alts Weekly | 2.16.25: The Blueprint Alts Go Mainstream

When viewed through the lens of large enterprise contracts, it’s easy to see why the business model of alternative asset managers is “better than SaaS.”

We Built These Investments for Individuals – Now Institutions Want In EQT Group

Using Alternatives to Help Clients Prepare for Retirement Investments & Wealth Monitor

The Holy Grail of Alts Managers: Turning an Illiquid Asset Into a Liquid One Institutional Investor

Redefining alternatives: A broader and more balanced approach Trustnet

The Met’s Endowment Manager Reveals Her Strategy (Wendy Li’s Reveals) The Meb Faber Show(Video)

Additional Tools and Resources

For comprehensive competive intelligence on the unlisted CEF industry, sign up for a Premium Plus Membership.  

To access the industry’s most complete dataset covering NT BDCS, NT REITs and Opcos, sign up for Alternative.Investments Pro.   Its an essential resource for anyone involved  in product development, investment research, or due diligence within the retail alts space.  

  We also have a lot of data available for free:

Interested in advertising on or Alternative.Investments or Interval Fund Tracker? email [email protected] to learn about partnership opportunities.


Holding alternative investment funds that you need to exit quickly? We also have liquidity solutions for unlisted securities

Related Posts