Nontraded Shareholders Stay on the Sidelines During Fund IPOs

Hurry up and wait - existing shareholders take a backseat to IPO participants when it comes to liquidity.

The recent influx of listings and follow-on IPOs is bringing more REITs and BDCs to market.

However, in many cases, legacy shareholders can expect to continue trading over-the-counter for up to a year.

Current lock ups estimates:

- Morgan Stanley Direct Lending, one year

- American Healthcare REIT, six months

- SmartStop Self Storage, six months

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