SEC proposes 20% performance-based fee for advisers and looser interval fund redemptions
A companion proposal would let CPAs and chartered financial analysts qualify as accredited investors.
September 30
The Distribution Desk 2 stories this week · 20 total
DTCC invests in iCapital and announces alternatives-processing collaboration
The collaboration covers transaction processing, data exchange, administration and reporting; the account discloses no dollar figure or timetable.
CAIS puts seven shelf gatekeepers on its roadmap
The platform's 55% asset growth is a company-reported figure; the integration work in the hands of its new council members is where the next increment gets decided.
SmartStop books shelf space for a one-property REIT
The listing tests whether platform placement can raise capital ahead of the portfolio it is meant to buy.
Adviser, not REIT, pays for Invesco's 5% share bonus
The sponsor's own balance sheet is funding new subscriptions while a $2.2 billion redemption queue waits at the exit.
The retail private-market push is a fee question for interval funds
A rule to modernize performance fees would widen who advisers can charge incentive fees — a quiet change that redraws the semi-liquid fund shelf.
Invesco's 12.5% income bump is yield maintenance, not a bounty
A $0.02 special distribution buys shelf space while per-share NAV holds flat and a $2.2 billion redemption queue awaits.
Private placements carry the $104 billion hard-asset rotation
Stanger's July tally shows credit down 43% while private structures and hard assets take the shelf.
FINRA eases a back-office rail for private fund distribution
Rule 4522 would shift uncertificated private fund positions to quarterly reconciliation, matching the NAV clock and trimming a quiet friction in alts distribution.
Barings installs DWS distributor atop U.S. wealth push
Brian Maute's new role targets the advisor channel, where education and shelf space decide alts winners.
Wealth managers shift to REITs as BDC redemptions bite
First-half flows show wealth managers rotating semi-liquid allocations toward REITs and away from redemption-strained BDCs.
CAIS adds nearly 40 managers to its alternative shelf
Six months of manager additions extend the platform's run as a distribution rail for independent advisers.
Kelly Park's PRISM 2.0 cuts private-fund paperwork to 250 pages from 1,000
The upgraded platform trims a five-fund allocation from roughly 1,000 pages and 15 signatures to 250 pages and five, a change aimed at the advisors who see onboarding as a key barrier to private markets.
Bluerock adds three distribution veterans to advisor coverage
The distribution hires look like a purchase of advisor relationships.
SEC preemption plan splits fund sponsors and state regulators
A proposed shift of non-traded BDC and REIT oversight to the SEC would change how these funds cross state lines and reach advisors.
Hard assets retake the lead as credit fundraising slides 40%
Stanger's first-half numbers show investors rotating out of credit and into hard assets, a shift interval fund distributors will have to ride.
SEC proposal targets state-by-state hurdles for nontraded REITs and BDCs
A proposed rule could ease blue-sky review for nontraded REITs and BDCs, widening the distribution path for semi-liquid alternatives.
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.
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%.
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.