Four new interval funds filed registration statements in November. Fund Name Strategy Registration Date Denali Structured Return Strategy Fund Credit 11/28/2023 Cion Grosvenor Infrastructure Fund Infrastructure 11/22/2023 Nuveen Enhanced Floating Rate Income Fund Credit 11/21/2023 Octagon XAI CLO Income Fund Credit 11/13/2023 For a list of all interval funds with pending registration statements, see New […]
Variant Investments, LLC is an employee asset manager that has been making big moves in the alternative credit and interval fund space. According to a recent press release, Variant hired industry veteran Kristi Combs as chief operating officer. Here is some background on Combs: Before joining Variant, Combs was managing director and head of client […]
Alternative Liquidity Capital has launched a new unsolicited tender offer for shares of the Wildermuth Fund, a closed end interval fund. Alternative Liquidity is offering to purchase up to 238,000 Class I Shares at a price of $2.50 per share. The fund’s estimated NAV is $10.00 per share as of August 14, 2023. In June […]
The Accordant ODCE Index Fund(ODCEX) is a new interval fund/REIT hybrid that launched in September. ODCEX was formerly known as the IDR Core Property Index Fund, and it launched in 2019 as a privately offered tender offer fund/REIT. In August, Shareholders approved the appointment of a new advisor and subadvisor. They also made several structural […]
Intermittent partial liquidity through regular repurchases is the defining feature of interval funds. Under the a regulation known as the interval fund rule, closed end interval funds are required to offer to repurchase between 5% and 25% of shares at NAV at predetermined intervals(quarterly, semi-annually, or annually). The Fund is required to provide advanced notice […]