Ares and Invesco REITs pay every third-quarter repurchase request in full

Ares Real Estate Income Trust, Ares Industrial Real Estate Income Trust and Invesco Real Estate Income Trust filled every third-quarter repurchase request in full, paying about $117 million while raising about $692 million.

Ares Industrial produced $408 million of that gross fundraising, a little under three-fifths of the group total.

Redemptions came to about 17 cents for every dollar raised across the three, leaving roughly $575 million of net inflow.

Cantor Fitzgerald Income Trust filled 27% of September repurchase requests, the tenth consecutive month it prorated, according to our records. Cliffwater Corporate Lending Fund capped third-quarter redemptions at 5% while requests reached 16%; on those figures the cap covered less than a third of what investors asked to withdraw.

Credit interval fund redemptions absorbed 79% of third-quarter sales, according to Stanger, which put interval fund assets at $142.0 billion, up 3.9%, and tender offer funds at $136.6 billion, up 9.7%. Those figures measure different populations—all credit interval funds in Stanger's tally, three named REITs in ours—so the 79% and the 17% are a contrast in direction, not a like-for-like spread.