Stanger Now Projects Total Fundraising of $180 Billion in 2026
Shrewsbury, New Jersey, August 25, 2026 – Robert A. Stanger & Company, Inc., a nationally recognized leader in non-listed alternative investment products, has published its July 2026 issue of The Stanger Market Pulse and the Q2 2026 edition of The Stanger Chairman’s Report. The reports highlight continued capital rotation away from credit and toward hard asset strategies alongside a growing shift toward private placement structures.
Alternative investment fundraising totaled $104.3 billion through July 2026, down 12% from $118.6 billion in the same period of 2025. The decline remained concentrated in credit strategies, where year-to-date fundraising fell 43% to $35.8 billion from $62.3 billion. Excluding credit, fundraising increased 22% year-over-year to $68.5 billion.
Hard asset momentum carried into the third quarter. HALO strategies – hard assets with low obsolescence, consisting of real estate and infrastructure – raised $34.0 billion through July, up 36% from $25.0 billion through July last year. Infrastructure remained the strongest contributor to hard asset growth, raising $17.6 billion through July, up 66% from the same period in 2025. Real estate strategies raised $16.4 billion, up 14%. Together, the two categories have accounted for approximately one-third of total alternative investment fundraising through July.
Year-to-date 2026 gross fundraising by investment strategy, compared with the same period in 2025, is summarized in the table below:
“The market crossed $100 billion in July, but the more telling story is where that capital is going,” said Kevin T. Gannon, Chairman & CEO of Stanger. “More than half of the capital raised year-to-date has come in through private placements rather than publicly registered programs, and hard assets have now outraised credit for four consecutive months. We expect that pattern to remain a defining feature of the market in the second half.”
Year-to-date gross fundraising by product category through July 2026, compared with prior years, is summarized in the table below:
As published in the Q2 2026 issue of The Stanger Chairman’s Report, annual and year-to-date net capital formation for publicly registered NAV REITs and NAV BDCs is summarized below:
“The Chairman’s Report shows how far the NAV REIT market has progressed through its liquidity cycle,” Gannon added. “Redemption pressure has moderated to its lowest level in more than four years, and net capital formation is now positive after three consecutive years of net outflows. The BDC market remains in a more demanding phase, with redemptions running well ahead of new capital. We watched the REIT market navigate through this cycle, and we expect the BDC market to follow a similar path.”
As published in the July 2026 issue of The Stanger Market Pulse, the Top Twenty Sponsors by year-to-date gross fundraising are summarized in the table below:
To request a copy of The Stanger Market Pulse or The Stanger Chairman’s Report, or for more information on all available Stanger Publications, please visit our website or contact:
Gregory R. DiSalvo
732.389.3600
gdisalvo@rastanger.com
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About Robert A. Stanger & Co., Inc.
Robert A. Stanger & Co., Inc., founded in 1978, is a nationally recognized 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, capital formation and financings, mergers, acquisitions, reorganizations, and consolidations.
Stanger is also well known for its industry leading publications: The Stanger Report, a nationally recognized comprehensive report focused on non-traded REIT and BDC investing, including aggregate market statistics, total returns by company and total return indices, fee structure comparisons, and profiles of current offerings; The Stanger Market Pulse, a monthly deep-dive into alternative investment fundraising; The Stanger Chairman’s Report, focused on NAV REIT and non-traded BDC sales and redemptions; The Stanger Closed-End Fund Report, focused on non-traded interval fund and tender offer fund investing; Stanger Privates, a quarterly publication focused on Private Placement REITs and BDCs exclusively available to Stanger Institutional Access subscribers; and The Stanger Alt Street Journal, a weekly newsletter providing an update on industry activities.
For More Information:
Kevin T. Gannon | Chairman & CEO | (732) 389-3600
Robert A. Stanger & Co., Inc.
1129 Broad Street, Suite 201
Shrewsbury, NJ 07702
www.rastanger.com
Member: SIPC
