By definition, all interval funds must offer intermittent liquidity by making repurchase offers at fixed intervals(usually quarterly). Under Rule 23c-3, also known as the interval fund rule, interval funds make periodic repurchase offers at NAV a fundamental policy, requiring shareholder approval to modify. Repurchase amounts between between 5% and 25% of outstanding shares, with board […]
Six new interval funds filed draft registration statements in February. Fund Name Strategy Registration Date Optimize Premium Yield Fund Credit 2/21/2025 Optimize Growth Equity Fund PE/VC 2/21/2025 JPMorgan Credit Markets Fund Credit 2/14/2025 Pursuit Asset-Based Income Fund Credit 2/5/2025 Oaktree Asset-Backed Income Private Fund Inc. Credit 2/3/2025 Oaktree Asset-Backed Income Fund, Inc. Credit 2/3/2025 Optimize […]
Five new interval funds filed draft registration statements in January 2025: Fund Name Registration Date Category GoldenTree Opportunistic Credit Fund 1/31/2025 Credit Fundrise Real Estate Interval Fund II, LLC 1/30/2025 Real Estate CION Grosvenor Infrastructure Master Fund, LLC 1/23/2025 Infrastructure The Champion Fund 1/17/2025 PE/VC RJ Private Credit Income Fund 1/6/2025 Credit For a list […]
By any measure, 2024 was a record year for interval funds, and growth is likely to accelerate in 2025. Based on the most recent SEC filings, as of the end of 2024, there are over $95 billion in interval fund net assets, up over 30% compared to the prior year. Interval Fund Registrations and launches […]
December 2024 topped off a record year for interval fund registrations, with 6 new funds filing registration statements in the final days. iDirect Private Credit Fund, L.P filed a draft registration statement on December 4. It will invest in private middle market credit instruments alongside certain independent managers including Audax, Bain, and Charlesbank. iCapital Markets […]