2025 Investment in Alternative Assets Surpasses $102 Billion Through July
Alternative investment fundraising totaled approximately $102.3 billion through July 2025, led by public non-traded business development companies at an estimated $26.7 billion; other private placements, including infrastructure and private equity offerings, at $23.5 billion; interval funds at $21.6 billion; and private non-traded business development companies at $9.2 billion. This is according to the latest analysis by Robert A. Stanger & Company Inc.
The total was up 18.4% from June’s approximately $86.4 billion in alternative investment fundraising.
Public non-traded BDC fundraising is up 27.7% compared to this time last year as retail investors continue to be drawn to higher yielding credit-focused investments. Publicly registered non-traded real estate investment trusts have raised $3.4 billion year-to-date, down 9.1% as compared to this time last year, while private REITs have raised $4.9 billion and have surged 74.8% as compared to fundraising this same time last year.
According to Kevin T. Gannon, chairman of Robert A. Stanger & Co., “After a robust first half of the year in alternative investment capital formation, Stanger reiterates our belief that fundraising should top $200 billion for the year once we have completed a full integration of closed-end tender offer funds into our analysis.”
Stanger’s survey of top sponsors tracks fundraising of all alternative investments offered via the retail pipeline including publicly registered non-traded REITs, publicly registered non-traded BDCs, interval funds, non-traded preferred stock of traded REITs, Delaware statutory trusts, opportunity zone funds, and other private placement offerings.
“The top fundraisers in the alternative investment space year-to-date are Blackstone ($16.6 billion), Cliffwater ($10.1 billion), KKR ($8.7 billion), Ares Management Corporation ($8.1 billion) and Blue Owl Capital ($8.1 billion),” said Randy Sweetman, executive managing director of Robert A. Stanger & Co.
Robert A. Stanger & Co., Inc., founded in 1978, is an investment banking firm specializing in providing investment banking, financial advisory, fairness opinion and asset and securities valuation services to partnerships, real estate investment trusts, and real estate advisory and management companies in support of strategic planning and execution, capital formation and financings, mergers, acquisitions, reorganizations, and consolidations.
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