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What is Document Custody for Private Investments? June 26, 2023

What is Document Custody for Private Investments?

What is Document Custody for Private Investments? April 28, 2023 | Pete Bergman | UMB Document custody for private investments is the practice of securely storing and managing legal agreements, contracts, transaction records, and other relevant documents. Private investment managers are increasingly seeking document custody services, even when they may not be required by law…
Understanding Fund Custody: Private Versus Publicly Offered Fund Vehicles June 26, 2023

Understanding Fund Custody: Private Versus Publicly Offered Fund Vehicles

Understanding Fund Custody: Private Versus Publicly Offered Fund Vehicles May 12, 2023 | Amy Small | UMB When managers of private funds decide to launch a strategy as a registered mutual fund–such as an interval fund, tender fund, or a daily NAV fund— the topic of custody can sometimes lead to confusion. Private fund managers…
How Cash Ratios Are Trending for NTRs June 23, 2023

How Cash Ratios Are Trending for NTRs

A recent article on S&P Capital IQ stated that the cash ratios of non-investment grade-rated companies were “squeezed further” in the first quarter of 2023. The article used the median measure of cash and equivalents as a share of total liabilities of companies rated...
ExchangeRight Successfully Completes 32nd Full-Cycle Event, with Annualized Returns Ranging 8.25%–9.75% June 23, 2023

ExchangeRight Successfully Completes 32nd Full-Cycle Event, with Annualized Returns Ranging 8.25%–9.75%

ExchangeRight, one of the nation’s leading providers of diversified real estate DST and REIT investments, has announced the successful completion of its Net-Leased Preferred Equity Fund 3 (“NLPEF 3”), a fund that consistently generated 8.25%–9.75% annualized returns to investors throughout the offering’s six-year lifespan. The liquidation of NLPEF 3 marked the 32nd successful full-cycle event…
Real Estate Cap Rates and the Slow Wheels of Progress June 23, 2023

Real Estate Cap Rates and the Slow Wheels of Progress

Differences in cap rates capture the divergence that occurred between U.S. public and private real estate markets in 2022, with public real estate cap rates (REIT implied) higher than their private real estate counterparts (transaction and appraisal). As expected, the gaps between REIT implied...

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