Morgan Stanley adds interval and tender-offer funds to UMA
The $3 trillion advisory platform now carries semi-liquid funds on its managed-account menu, giving sponsors another distribution channel.
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All Interval Fund Daily reporting, newest first.
Hard-asset fundraising tops credit for first time since early 2023
First-half flows give interval funds a benchmark for a rotation that cut credit's intake 40%.
BREIT's $3.3B data-center bet puts its redemption promise to the test
The fund sold self-storage, its most liquid property type, to build data centers that won't pay off for years.
XA projects specialty structures to grow more than 20% a year
Sponsors are adding 3(c)(7) funds and operating companies to the semi-liquid market, trading liquidity for higher-return potential.
Apollo's daily-pricing push reshapes the semi-liquid pitch
Daily marks would change how advisers read private credit, without changing the redemption queue that defines the wrapper.
PCAP taps Norinchukin Bank for $292.5M, cuts revolver cost
The nontraded BDC locks in a 2038 maturity at SOFR plus 1.58% while expanding its Scotiabank revolver.
Evanston Multi-Alpha converts to interval fund under XA Investments
The $100 million hedge fund program moves to XA Investments and onto a daily-NAV interval structure, bringing the semi-liquid model to an institutional strategy.
Alternatives adoption intent nearly triples as scale becomes the bottleneck
The 2026 iCapital survey of 870 advisers finds allocation plans climbing as economic optimism falls. The bottleneck has moved from product access to operational delivery.
SEC rule could clear blue-sky hurdles for nontraded REITs and BDCs
A proposed SEC rule could trim the state-by-state filing burden for nontraded REITs and BDCs, giving sponsors faster launches and lower legal bills.
Apollo pushes daily pricing for private credit funds
A daily NAV on assets that don't trade is the next adviser-access test for the semi-liquid wrapper.
NAV later, or cash now at a discount
Private credit fund investors face capped quarterly redemptions on one side and steep secondary-market discounts on the other.
Starwood REIT taps Apollo for $1.02B affordable-housing JV
The deal pairs Apollo's capital with Starwood's portfolio to ease liquidity without ceding control.
JLL Income Property Trust adds $137M Indiana warehouse
A $137 million industrial purchase in Whitestown, Ind., pushes the daily-NAV nontraded REIT's industrial holdings to the top of its portfolio.
Nineteen filings flood the semi-liquid shelf
As Cerulli projects a $2 trillion rise in advisor private-capital books, debut interval and tender-offer products from T. Rowe-Goldman and PGIM-Partners Group hit a wrapper already under stress from BCRED's fourth straight NAV decline.
Cerulli projects $2 trillion rise in advisor private-capital books
A demand forecast centered on interval funds, even as NAV declines test the pitch.
Nineteen private-market fund filings test the semi-liquid promise
Draft N-2 filings from T. Rowe-Goldman, PGIM-Partners Group, and a crowd of credit shops widen the field as BCRED's repricing pressures the wrapper.
BCRED's First-Half Markdown Triples 2025's Unrealized Loss
NAV fell for a fourth straight quarter even as distributions kept total return positive, and the redemption queue keeps growing.
Blackstone reprices, Apollo doubles down
BCRED's fourth straight quarterly decline tests the semi-liquid pitch. Apollo is betting $150 billion from private wealth that scale outruns the repricing.
Priority Income Fund's tender proration falls to 15% as NAV slides
The annual buyback returns a fraction of tendered shares as NAV and assets shrink ahead of a planned listing.
Apollo sets $150B wealth target, semi-liquid funds at core
Apollo anticipates the global wealth channel could represent half of its annual third-party fundraising by 2029, with semi-liquid strategies central to the plan.