Shrewsbury, New Jersey, November 19, 2025 – Robert A. Stanger & Company, Inc., a nationally recognized leader in non-listed alternative investment products, has published its Q3 2025 edition of Stanger Privates, now capturing more than $93 billion of net asset value (NAV) across more than 120 private placement REITs and BDCs.
Private placement vehicles continue to gain momentum as sponsors and investors seek evergreen, institutionally managed exposure to private real estate and private credit. The $93 billion of NAV now held by private placement vehicles has grown more than 10% quarter-over-quarter and 43% year-over-year, a clear demonstration of the format’s advantages and growing adoption.
Private placement BDCs have raised more than $14.5 billion year-to-date as of September 30, with aggregate NAV climbing over 11% quarter-over-quarter. Meanwhile, private placement REITs have raised $5.9 billion year-to-date, outperforming their publicly registered counterparts by nearly 36% in year-to-date fundraising and pushing their aggregate NAV up 8% quarter-over-quarter. This has been driven, in part, by the continued upward trend of their distribution yields so far this year.
“The private placement model has quickly become a new mainstay for non-traded private credit and real estate strategies,” said Kevin T. Gannon, Chairman & CEO of Stanger. “Blue Owl’s October announcement of an 11 asset, $3+ billion digital infrastructure seed transaction is a game-changer for the private space and underscores the scale and confidence in today’s private markets by sponsors and investors alike. It not only highlights the year’s trend toward big-ticket alternative deals but also sponsors’ bullish outlook for alternative investments.”
As published in the Q3 2025 edition of Stanger Privates, performance leaders across key time periods are summarized in the table below:
Availability
Stanger Privates is available exclusively to subscribers of the Institutional Access plan. For more information or for a full list of available publications and reports, contact Gregory R. DiSalvo, at 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 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
