Stanger: Interval Funds Finish 2024 Just Shy of $100 Billion of Aggregate NAV
Interval funds had a combined aggregate net asset value of $97.5 billion as of the fourth quarter of 2024, an increase of 4.4% from the prior quarter and 32.8% year-over-year. In Q4 2024, eight new funds became effective and 12 more filed new registration statements, bringing the total number of pending registrations to 41.
This information is shared in the Q4 2024 edition of The Stanger Interval Fund Report, published by investment banking firm Robert A. Stanger & Company Inc. – a nationally recognized leader in non-listed alternative investment products.
“Funds focused on credit investments continue to capture investor demand in a meaningful way, having attracted nearly 82% of total gross sales year-to-date through November. This dominance is largely driven by the continued success of Cliffwater-sponsored interval funds and their 41% market share of the $26.7 billion in gross fundraising,” said Kevin T. Gannon, chairman and chief executive officer of Stanger.
In Q4 2024, Ark Venture Fund stood out as the top performer among interval funds, achieving total returns of 9.9% over three months. Stone Trust II once again topped the six-month return chart with returns of 16.8% and regained its place atop the 12-month return ranking with 33.1% after finishing second in Q3.
“Interval funds have raised nearly five times the capital of non-traded real estate investment trusts and 83% of business development companies year-to-date through November, reflecting their growing role in portfolio diversification strategies. … Notably, numerous funds paid enhanced Q4 distributions as a year-end true-up, delivering incremental value to investors and reinforcing confidence in the strength of income-generating strategies,” Gannon added.
Alts Wire reported the launch of interval fund CION Grosvenor Infrastructure Fund – sponsored by alternative investment solutions platform CION Investments and global alternative asset management firm GCM Grosvenor and declared effective by the U.S. Securities and Exchange Commission in fall 2024. Similarly, Gladstone Alternative Income Fund, advised by Gladstone Management Corporation, launched in November 2024 and continuously offers common Class A, Class C, Class I and Class U shares.
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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