The SEC declared the registration statement effective for The City National Rochdale Select Strategies Fund（CNRLX ) on June 22, 2017. CNRLX is seeking to raise up to $500 million. This reinsurance fund focuses on insurance linked securities(ILS) and reinsurance space, and is structured as an interval fund. CNRLX will focus on reinsurance investments providing exposure […]
The Relative Value Fund, an interval fund seeking to raise $100 million went effective on May 1, 2017
The Fund will use a multi-manager approach, investing variety of alternative investment strategies, in pursuit of an absolute return objective.
According to the registration statement:
With a whole slew of credit interval funds hitting the market this year, its time to compare the basic structures and fee arrangements. The chart below consists of funds that have been declared effective within the past year, all from familiar sponsors. Within the broader category of credit, there are a lot of substrategies, but its no coincidence, that all of the Sponsors for these funds have marketed BDCs to retail investors in the past.
Non-traded REIT and BDC sponsors are entering the interval fund space en masse. This was a key trend in 2016 and it is continuing in 2017. Here is a partial list of Non-traded REIT and BDC Sponsors with interval funds in various stages of launch.
Union Square Capital Partners Registered USQ Core Real Estate Fund, a new interval fund. USQ Core Real Estate Interval Fund According to the Prospectus: The Fund seeks to provide investors with returns equal to or greater than the NCREIF Fund Index – Open End Diversified Core Equity over an entire market cycle; however, it cannot […]