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Focus
Our singular focus is to find the best candidate for the opportunity within segments of the financial marketplace that we understand.
Our broad network enables us to execute highly customized, confidential, and comprehensive placements.
Focus
Our singular focus is to find the best candidate for the opportunity within segments of the financial marketplace that we understand.
Our broad network enables us to execute highly customized, confidential, and comprehensive placements.
Secondaries Liquidity



Carlyle Credit Solutions BDC Puts Up the Gate
Demand for liquidity in The Carlyle Group's private BDC, Carlyle Credit Solutions, Inc. (formerly TCG BDC II, Inc.), exploded in Q4 2023....
Mar 11, 20241 min read


InvestmentNews: REIT sales tank, BDCs roll at start of 2024: Report
Non-traded REIT sales see a significant decline in early 2024, prompting investors to turn to business development companies for higher...
Feb 29, 20241 min read


Guess the Fund: Interval Fund Liquidity Program Utilization
Can you guess which credit focused interval fund this is? In this instance, the volume of tendered shares is increasing faster than the...
Feb 16, 20241 min read


Blue Owl BDCs Continue to Meet Liquidity Requests
In light of this week's Blue Owl Capital Corp. III listing, we're checking in on Blue Owl Capital's three nontraded tender offer funds....
Jan 26, 20241 min read


KKR Real Estate Select Trust Prorates Redemption Requests
KKR Real Estate Select Trust is once again unable to meet shareholders' demand for liquidity. In the most recent two quarters, $KREST has...
Jan 22, 20241 min read


Publicly-Traded BDCs and Upcoming Listings
The mix of large ($3B+) traded BDCs is likely to experience significant changes in 2024 as private and non-traded BDCs begin trading on...
Jan 18, 20241 min read


KBS III Going Concern
In light of KBS III's "Going Concern" disclosure it's important to remember that financial markets are forward-looking and net asset...
Dec 29, 20231 min read


Pacific Oak Strategic Opportunity REIT Value Dives
Pacific Oak Strategic Opportunity REIT ($PCOK) has reported a 23.5% drop in NAV. Year to date transactions show the write-down was...
Dec 13, 20231 min read


WSJ Article feat. John Cox: What's a Real Estate Fund Worth?
Article by Jonathan Weil, WSJ “A lot of our business is based on explaining why NAV is not an indication of fair market value.” In...
Dec 6, 20231 min read


DI Wire: Alternative Investment Fundraising Update
Current fundraising and redemption trends highlight the need for expanding secondary market liquidity options both now and as newer...
Nov 27, 20231 min read


Sila Makes No Recommendation on Recent Tender Offer
Sila Realty Trust, Inc. makes "no recommendation" on whether the Sila's shareholders should accept a recent third-party tender offer,...
Nov 22, 20231 min read


Apollo Merger News
In a surprise announcement, Apollo Global Management, Inc. has proposed merging its BDC ($MFIC) with two Apollo closed-end funds ($AFT,...
Nov 8, 20231 min read


Highlands REIT Tender Offer
Highlands REIT ($HHDS) has made an offer to repurchase up to $20 million worth of their shares in a recent tender offer. What does $20...
Oct 24, 20231 min read


BREIT: Third Party Tender Offer
Mackenzie Capital has launched a third party tender offer for Blackstone Real Estate Income Trust #BREIT. BREIT investors who are...
Oct 24, 20231 min read


KKR Real Estate Select Trust: Gated Again
KKR Real Estate Select Trust falls back into oversubscription with sellers receiving 77% of their requested redemptions. Sign up to...
Oct 11, 20231 min read


Looking Back: Secondary Market Pricing TTM
Over the past twelve months, non-traded asset prices have generally traded down - with AR Global's Healthcare Trust falling nearly 47% in...
Oct 1, 20231 min read


Blue Owl Capital Corp II: Liquidity Program Improvements
Blue Owl Capital Corp. II has seen a drop in share repurchase program utilization for the first time in three years. It is also the first...
Sep 30, 20231 min read


How Traded Market Volatility Can Impact Secondary Pricing
Increased volatility in liquid markets tends to affect secondary market prices before third party tender offer prices, which can produce...
Sep 29, 20231 min read


Semi-Liquid Alts Continue to Grow: Need for Liquidity Remains
As the alternatives marketplace continues to expand, interval funds are playing a driving role in the growth and adoption of semi-liquid...
Sep 11, 20231 min read


Industry Coverage Update
We're initiating coverage on a new group of illiquid alternative investment funds. Note: Two funds have reported meaningful increases in...
Aug 10, 20231 min read

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