Interval Funds Monthly- September 2026

There were two new interval fund registrations in September: Columbia Hamilton Lane Growth Innovation Fund, and The Bahnsen Group Alternative Core Solutions Fund.

Columbia Hamilton Lane Growth Innovation Fund

Columbia Hamilton Lane Growth Innovation Fund seeks capital appreciation through a public-private growth innovation strategy. The fund combines publicly traded equity securities with private asset investments, focusing on companies that Columbia Management believes have long-term growth potential or support, benefit from, or drive innovation through new technologies, products, services, processes, business models, or markets.

The fund generally targets a 40% to 60% allocation to public equities and a 40% to 60% allocation to private asset investments, though those allocations may vary over time. Its public equity sleeve generally invests in U.S. and foreign growth companies within the market-capitalization range of the Russell 3000 Growth Index. Its private asset sleeve may include direct and indirect exposure to private companies, including early-stage, venture capital, growth equity, and buyout companies, as well as private fund investments, secondaries, co-investments, joint ventures, and other private markets transactions.

The fund expects to obtain at least 40% of its net assets exposure through Hamilton Lane-managed underlying investment funds. The prospectus states that Hamilton Lane is not the fund’s adviser, sub-adviser, sponsor, promoter, principal underwriter, or affiliate.

The fund currently offers four share classes: Class A, FoundersA, FoundersInst, and Institutional Class (Class Inst). The minimum initial investment for each share class is $10,000 per account, and there is no minimum subsequent investment amount for any class. Class A and FoundersA Shares carry a sales load of up to 3.0%, while Class Inst and FoundersInst Shares do not carry a fund-imposed sales charge. The management fee is TBD in the draft prospectus.

The Bahnsen Group Alternative Core Solutions Fund

The Bahnsen Group Alternative Core Solutions Fund seeks current income and, secondarily, long-term capital appreciation. The fund invests directly or indirectly in registered closed-end and open-end funds, private investment funds, and other investment vehicles, which the prospectus collectively calls “Investment Funds.” Its investments in Investment Funds may represent all or a substantial portion of the portfolio at any given time.

The strategy centers on selecting underlying managers and general partners across private and alternative investment strategies. The fund may invest in private markets investment funds and co-investments originated, serviced, or underwritten by underlying managers. The Investment Funds may include alternative credit, private equity, hedged strategies, and direct credit strategies that invest across different asset classes, securities, and derivative instruments.

The fund does not maintain specific targets for industries, sectors, strategies, geographies, maturities, duration, or credit quality. The sub-adviser may change allocations as market conditions change.

The fund currently offers one class of shares. The minimum initial investment is $25,000, and the minimum additional investment is $25,000, although the adviser may reduce those minimums in its sole discretion. The fund has no sales charge. The management fee is 1.20% of average daily Managed Assets. The sub-adviser receives 0.85% of average daily Managed Assets from the adviser. The sub-adviser has contractually agreed to waive its full sub-advisory fee for at least one year from the effective date of the fee waiver agreement, reducing the net management fee to 0.35% of average daily Managed Assets during the waiver period.

Other Alternative Fund Registrations

Other notable private fund registrations include a new private NT REIT from JLL, and a new private NT BDC from Carlyle.

JLL Property Finance Trust

JLL Property Finance Trust is a private, non-traded REIT sponsored by JLL and externally managed by LaSalle Investment Management. The trust plans to conduct a continuous blind-pool private offering to accredited investors in the U.S. and certain non-U.S. investors, and its shares are not listed on a national securities exchange.

The REIT’s primary strategy is to originate, acquire, finance, manage, and dispose of real estate debt investments, including senior mortgage loans, subordinated debt, and similar investments across geographies and property sectors. To a lesser extent, it may also invest in other real estate lending strategies and real estate-related debt and equity investments, including CMBS and commercial real estate CLOs. The strategy focuses on current income, capital preservation, prudent loan-to-value ratios, and private real estate debt exposure with lower volatility than publicly traded securities.

New Carlyle Credit Solutions / Carlyle Credit Solutions

New Carlyle Credit Solutions is being formed through the proposed reorganization of Carlyle Credit Solutions, Inc., a Maryland corporation that has elected to be regulated as a BDC, into a newly formed Delaware statutory trust. Under the merger, Carlyle Credit Solutions, Inc. would merge into New Carlyle Credit Solutions, with the successor fund surviving and then changing its name to Carlyle Credit Solutions. The transaction is designed to change the fund’s legal structure while preserving continuity: the successor fund is expected to have the same investment objectives, investment strategies, investment adviser, management team, portfolio, and fee structure as the existing fund. The fund will continue as a non-traded, privately offered BDC focused on originating and investing in senior secured loans and other credit investments of U.S. middle market companies, primarily those backed by private equity sponsors.

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