Unlisted closed end funds(CEFs) are continuing their rapid growth in 2024. As of the most recent SEC filings, there are a total of $75.3 billion net assets in interval funds, and $60.9 billion net assets in tender offer funds. Year over year net asset growth is 19.3% for interval funds, and 20.3% for tender offer […]
Two new interval funds filed registration statements in January 2024: Catalyst Strategic Income Opportunities Fund, and Fidelity Floating Rate Opportunities Fund. Additionally, the Meketa Infrastructure Fund, which filed an initial registration statement in September 2023, was declared effective by the SEC in January. Catalyst Strategic Income Opportunities Fund Catalyst Strategic Income Opportunities Fund filed a […]
New fund registrations are a forward-looking indicator that we can use to predict future market trends. When a new fund is preparing to launch it will first file a draft registration statement, either on form N-2(NT BDCs, interval funds, and tender offer funds), or form S-11(NT REITs). If the fund is raising capital via a […]
Net assets in unlisted closed end funds (unlisted CEFs) reached $129.7 billion at the end of 2023, up 15.6% from the prior year. Interval funds, with $72.9 billion in net assets accounted for 56% of unlisted CEF assets. Tender offer funds, with $56.8 billion, accounted for 44%. The following chart shows the growth in unlisted […]
Interval Fund Assets now exceed $67 billion, up approximately 14% from the previous year. There are currently 92 active interval funds, of which 86 have reported assets. Credit continues to be the most popular strategy, with $34 billion in net assets, slightly more than half of total for the sector. Real estate is the second […]