BDCs Eclipses $20 Billion in 2024
Shrewsbury, New Jersey, April 2, 2025 – Robert A. Stanger & Company, Inc., a nationally recognized leader in non-listed alternative investment products, has published the Q4 2024 edition of Stanger Privates. Building on the REIT Preview published on February 3rd, which featured year-end private placement REIT data, this comprehensive edition now includes newly available year-end private placement BDC data, significantly expanded coverage of private placement BDC fundraising, and new fee structure comparisons.
The Q4 2024 edition of Stanger Privates showcases significant growth in the private placement space. Private placement REITs finished the year with an aggregate NAV of $18.3 billion, accounting for 16.5% of the $111.4B total non-traded REIT market. Similarly, private placement BDCs ended 2024 with an aggregate NAV of $56.3 billion, representing 37.0% of the $152.1B overall non-traded BDC market.
Stanger’s expanded analysis of private placement BDC fundraising now quantifies more than $56 billion raised across nearly 100 funds since 2014, with private placement BDCs raising $20.1 billion in 2024 alone—a record high and nearly 118% increase year-over-year. This edition also introduces fee structure comparisons for over 90 private placement BDCs, covering management and incentive fees of all funds tracked by Stanger.
“Private placement BDCs had a record-breaking year in 2024, raising over $20 billion and more than doubling their prior year total,” said Kevin T. Gannon, Chairman and CEO of Stanger. “Trailing only interval funds and publicly registered non-traded BDCs in terms of 2024 total sales tracked by Stanger, this underscores the continued dominance of higher yielding credit-focused products in capital formation. We are proud to offer Stanger Privates as the only source to find comprehensive insights into the private placement REIT and BDC market.”
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 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 also recently launched Stanger Privates, a quarterly publication focused on 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
