Five new interval funds filed registration statements in April 2024. Fund Category Management Fee Steadfast Structured Growth Fund Credit 1.20% of net assets Privacore PCAAM Alternative Income Fund Credit TBD OneAscent Private Markets Access Fund PE/VC 1.50% of net assets Principal Private Credit Fund I Credit 1.25% of net assets Sphinx Opportunity Fund Real Estte […]
Note: this article has been updated to include First Eagle Real Estate Lending Fund, which filed its registration statement at around 5:00 PM EST on the last business day of the year. In the final month of 2023, five new interval funds filed draft registration statements. Fund Name Strategy Registration Date First Eagle Real Estate […]
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 […]
There are currently more than 70 active interval funds, with a combined total net assets of approximately $35 billion. The increasing popularity of the interval fund structure has attracted new sponsors to the space. Several asset managers with active funds have launched additional products. Seven new interval funds have filed registration statements since the beginning […]
We often receive questions from financial advisors about interval fund liquidity. Perhaps you’ve found a fund with a top notch sponsor, and a strategy that fits perfectly in your client’s portfolio, but have concerns about how easy it is to exit. Understanding the nuances of interval fund liquidity will help you make use of this […]