Shrewsbury, New Jersey, April 11, 2025 – Robert A. Stanger & Company, Inc., a nationally recognized leader in non-listed alternative investment products, today released its Q1 2025 Stanger Interval Fund Report, offering detailed performance data, in-depth company profiles, and robust fundraising insights for 129 closed-end interval funds. The report highlights the sector’s continued momentum, with aggregate net asset value (NAV) surpassing $100 billion for the first time.
The aggregate NAV of interval funds reached $107.7 billion in Q1 2025, a 10.5% increase from Q4 2024 and a 37.8% year-over-year surge, marking a significant milestone for the space. The interval fund landscape also saw a notable expansion, with 9 new funds becoming effective in Q1 2025 and 13 additional funds filing new registration statements, bringing the total number of pending registrations to 45. The total number of effective interval funds now stands at 129, up from 98 in Q1 2024.
"Interval funds have kicked off 2025 with strong momentum, raising $6.3 billion through February and attracting nearly $32 billion of investor capital over the trailing twelve months – a 46.3% increase from the same period last year,” said Kevin T. Gannon, Chairman and CEO of Robert A. Stanger. “After raising just shy of $30 billion in 2024, Stanger now projects interval funds gross fundraising to eclipse $37 billion in 2025. We’ve also seen redemptions as a percentage of gross sales continue to decline, reaching 29.2% year-to-date through February 2025 compared to 34.6% for 2024. Cliffwater continues to dominate the market, capturing nearly a 40% market share between its two funds.”
The report also highlights standout performers in Q1 2025. Bow River Capital Evergreen Fund led the sector with total returns of 4.7% over three months. Ark Venture Fund topped the 6-month total return rankings with 9.2% after leading the 3-month returns in the prior quarter. Meanwhile, Cascade Private Capital Fund outperformed the prior quarter’s leader, Stone Trust II, achieving a 12-month total return of 31.0%.
To request a copy of The Stanger Interval Fund Report or for further information on all available Stanger Publications, please 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 flagship publication, 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, focused on public non-traded REIT, non-traded BDC and other alternative investment fundraising; The Stanger Chairman’s Report, focused on NAV REIT and non-traded BDC sales and redemptions; The Stanger Interval Fund Report, focused on non-traded interval fund investing, and The Stanger Digest, a newsletter providing a weekly update on industry activities.
Stanger’s newest publication, Stanger Privates, is a quarterly deep dive into over 100 Private Placement REITs and BDCs and available exclusively to Stanger Institutional Access subscribers.
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
