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Sales by Interval Funds, Nontraded Closed-End Funds, and Private Placements for February

March 19, 2018

Sales by Interval Funds, Nontraded Closed-End Funds, and Private Placements for February

March 20, 2018 | James Sprow | Blue Vault

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Blue Vault reports sales for Interval Funds and nontraded Closed-End Funds reported by 11 fund sponsors in February. February sales for these funds that were reported to Blue Vault totaled $170.4 million, up 26% from the $135.3 million reported in January for the same sample of programs. TriLinc led sponsors in group with $54.9 million due to a $50 million sale of Class Z shares in TriLinc Global Impact Fund to a feeder fund which received a $50 million investment from a Saudi Arabian sovereign wealth fund. The next largest total sales reported by a sponsor of these products in February was $54.7 million by Griffin Capital Company in their Griffin Institutional Access Real Estate and Griffin Institutional Access Credit Funds. This sponsor’s sales were 32% of total sales reported to Blue Vault for February in the Interval Fund and nontraded Closed-End Fund sector. Bluerock Capital’s Total Income+ Real Estate Fund was next in the Interval Fund category with $29.3 million sales in February.

Among leading sponsors in Interval Funds and nontraded Closed-End Fund sales reported to Blue Vault in February 2018 were:

TriLinc $54.9 million
Griffin Capital Company $54.7 million
Bluerock Capital Markets, LLC $29.3 million
Resource Real Estate $10.1 million
CION Investment Corp $7.1 million
Triloma Financial Group $3.1 million

 

Sponsors reported Private Placement and Reg A sales of $321.9 million in February, up from $174.7 million reported by sponsors in January. Inland Private Capital Corporation once again led the group of reporting sponsors with $95.4 million in February, up from $74.1 million in January. Owl Rock Capital Corporation reported $75 million in private placements in February after closing a program in December 2017 and having no reported private placements in January.

Among leading sponsors in Private Placement and Reg A sales reported to Blue Vault in February were:

Inland Real Estate Investment Corp. $95.4 million
Owl Rock Capital Advisors $75.0 million
Passco Companies, LLC $20.6 million
Cottonwood $13.2 million
Capital Square 1031 $7.3 million

 

Private Placement and Reg A sales totaled $496.6 million in the first two months of 2018 compared to the $189.2 million reported for January and February in 2017. The total for Private Placement and Reg A sales reported to Blue Vault for 2017 was $4.60 billion, which included a large total from Owl Rock Capital Corporation in August of $1.37 billion, constituting 30% of the 2017 sales reported to Blue Vault for the year.

In October 2017, Blue Vault began reporting sales of nonlisted preferred stock issued by Bluerock Capital Markets and CIM Commercial Trust. February 2018 sales of nonlisted preferred stock by those two companies were $8.76 million, up slightly from $8.62 million in January.

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John E. Moriarty, ChFC
December 2015
February 3, 2016

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