Volume XV No. 16 | Friday, April 17, 2026
Weekly Highlights
KKR REAL ESTATE SELECT TRUST INC. (TENDER OFFER FUND)
4/14/2026 SC TO-I/A
The Company reported Q2 2026 redemption requests of approximately 6.8% of NAV and will satisfy requests up to its 5% quarterly limit, resulting in proration of 74%. Satisfied requests total approximately $72M.
NATIONAL HEALTHCARE PROPERTIES, INC. (LIFECYCLE REIT)
4/13/2026 S-11/A
The Company is offering 38,500,000 shares of Class A common stock at an expected price range of $13.00 to $16.00 per share, with an additional 5,775,000 shares available through an overallotment option. The shares are expected to be listed on Nasdaq under the symbol “NHP”.
Press Room
Closed-End Fund Market Surpasses Quarter-Trillion Dollar Milestone as Private Equity and Venture Capital Strategies Gain Share (4/16/2026)
Stanger has published its Q1 2026 edition of The Stanger Closed-End Fund Report. This edition introduces revised investment focus categories across all interval and tender offer fund coverage, providing greater clarity into sponsor offerings by investment strategy. Non-traded closed-end funds reached $251 billion in aggregate net asset value in Q1 2026, crossing the quarter-trillion threshold for the first time after a 6.0% quarter-over-quarter increase. Interval funds accounted for $133 billion, up 4.7% from the prior quarter, while tender offer funds grew 7.6% to $118 billion. Stanger now tracks 293 effective closed-end funds, consisting of 157 interval funds and 136 tender offer funds. “A quarter-trillion dollars in aggregate NAV reflects how firmly interval and tender offer funds have become core allocation vehicles for private wealth,” said Kevin T. Gannon, Chairman & CEO of Stanger. “Credit’s dominance within interval funds is moderating, and private equity and venture capital strategies now represent more than half of tender offer fund assets. Within interval funds, private equity and real estate credit funds are seeing year-over-year growth in sales as sponsors respond to investor demand with a broader mix of offerings.”
The above is an abbreviated version of an official Stanger press release. View the Full Press Release →
Current Reports
BDCs
ARES STRATEGIC INCOME FUND
4/10/2026 424B3
The Company amended the “Suitability Standards” section of its prospectus.
BLUE OWL CAPITAL CORP II
4/16/2026 8-K
The Company declared a return of capital distribution of $0.42 per share to all shareholders for Q2 2026. The distribution will be paid on or before 4/21/26 to shareholders of record as of 4/20/26. In connection, the Company also paid a previously declared $2.50 per share special return of capital distribution, representing 30% of NAV as of 12/31/25. The Board also declared a regular monthly cash dividend of $0.035 per share for the month of April which will be paid on or before 4/20/26 to shareholders of record as of 4/17/26.
HPS CORPORATE LENDING FUND
4/14/2026 8-K
The Company received $151M of net proceeds relating to the issuance of Class I, D, F, and S shares for subscriptions effective 4/1/26.
JOHN HANCOCK COMVEST PRIVATE INCOME FUND
4/16/2026 8-K
A subsidiary of the Company amended its loan and servicing agreement to extend the term of a temporary increase in its $400M credit facility to $445M by an additional three months, through 7/15/26.
NEXPOINT CAPITAL, INC.
4/13/2026 8-K
The Company reported its new NAV per share:
3/31/26 3/23/26 All Classes: $4.30 $4.35
The Company declared Q1 2026 distributions, payable on or about 4/13/26:
Q1 2026 Q4 2025 Gross Dist: $0.09 $0.09 Record Date: 3/31/26
PGIM PRIVATE CREDIT FUND
4/15/2026 424B3
The Company reported that Mr. Mitchell W. Reed has announced his intention to retire from PGIM, Inc., effective on or about 4/16/26. Accordingly, he will step down as a named portfolio manager of the Company as of that date.
NAV REITs
BROOKFIELD REAL ESTATE INCOME TRUST INC.
4/15/2026 424B3
The Company reported its March 2026 NAV per share (table below) and acquired 34 Market Street, a 222,000-square-foot Class A warehouse and distribution facility in Everett, Massachusetts, less than five miles from downtown Boston, for approximately $155M.
March February Class S: $10.2547 $10.2590 Class I: $10.3689 $10.3726 Class D: $10.4652 $10.4681 Class T: $10.4560 $10.4565 Class C: $10.0498 $10.0554 Class E: $10.3603 $10.3640 Class I OP: $10.3689 $10.3726 Class E OP: $10.3603 $10.3640
CANTOR FITZGERALD INCOME TRUST, INC.
4/10/2026 8-K
The Company classified 920,000 shares of authorized but unissued preferred stock as its 9.50% Series A Cumulative Redeemable Preferred Stock and amended its operating partnership agreement accordingly.
4/14/2026 424B3
The Company amended several sections of its prospectus in connection with the launch of its 9.50% Series A Cumulative Redeemable Preferred Stock and attached its annual 10-K report.
COHEN & STEERS INCOME OPPORTUNITIES REIT, INC.
4/15/2026 424B3
The Company reported its March 2026 NAV per share (table below) and filed an updated prospectus.
March February Class I: $11.48 $11.41 Class F-I: $11.29 $11.23 Class P: $11.85 $11.76 Class B: $11.42 $11.43 Class R-I: $11.43 $11.44 Class R-S: $11.45 $11.41
COTTONWOOD COMMUNITIES, INC.
4/16/2026 8-K
The Company issued and sold shares of its 9/19/23 offering of Series A convertible preferred stock for aggregate proceeds of $1.85M.
EQT EXETER REAL ESTATE INCOME TRUST, INC.
4/15/2026 424B3
The Company reported its March 2026 NAV per share (table below) and amended several sections of its prospectus in connection with expanding its primary investment focus to include data centers as part of its industrial strategy. Additionally, the Company repositioned knowledge economy-office investments to a secondary investment theme.
March February Class I: $11.11 $10.96 Class A-I: $10.99 $10.83 Class A-II: $10.94 $10.79 Class E: $11.89 $11.68 Class T: $11.07 $10.92
FS CREDIT REAL ESTATE INCOME TRUST, INC.
4/16/2026 424B3
The Company reported its March 2026 NAV per share:
March February Class S: $24.8002 $24.7999 Class T: $24.5415 $24.5422 Class D: $24.5948 $24.5953 Class M: $24.6663 $24.6633 Class I: $23.8810 $23.8813 Class F: $25.1595 $25.1536 Class Y: $23.8663 $23.8657
HINES GLOBAL INCOME TRUST, INC.
4/16/2026 8-K 424B3
The Company reported its March 2026 NAV per share:
March February All Classes: $9.80 $9.82
The Company declared April 2026 distributions, payable on 5/1/26:
April March Gross Dist: $0.052 $0.052 Record Date: 4/30/26
INVESCO REAL ESTATE INCOME TRUST INC.
4/16/2026 8-K 424B3
The Company reported its March 2026 NAV per share:
March February Class T: $26.0963 $26.0341 Class S: $26.1397 $26.1049 Class D: $26.1159 $26.0544 Class I: $26.2637 $26.2003 Class E: $28.2659 $28.1640 Class N: $27.7101 $27.6513 Class S-PR: $26.9948 $26.9787 Class K-PR: $26.9908 $26.9740
IPC ALTERNATIVE REAL ESTATE INCOME TRUST, INC.
4/15/2026 424B3
The Company reported its March 2026 NAV per share (table below) and provided a portfolio overview as of 3/31/26.
March February Class T: $23.5774 $23.4211 Class D: $23.5324 $23.3660 Class I: $23.5130 $23.3550 Class A: $23.7521 $23.5750 Class X-1: $23.4771 $23.4833
J.P. MORGAN REAL ESTATE INCOME TRUST, INC.
4/14/2026 424B3
The Company reported its March 2026 NAV per share:
March February Class D: $10.60 $10.56 Class I: $10.65 $10.61 Class E: $11.53 $11.44 Class Y: $11.32 $11.25 OP Units: $11.53 $11.44
NUVEEN GLOBAL CITIES REIT, INC.
4/16/2026 424B3
The Company reported its March 2026 NAV per share (table below) and acquired a light industrial property located in the Ismaning submarket of Munich, Germany for a gross purchase price of $46.4M, inclusive of a $27.8M mortgage originated at closing. The 124,764 square-foot property is 100% leased.
March February Class T: $11.24 $11.31 Class S: $11.10 $11.17 Class D: $11.27 $11.33 Class I: $11.23 $11.29 Class N: $11.69 $11.76
PGIM PRIVATE REAL ESTATE FUND, INC.
4/10/2026 424B3
The Company amended the language of several sections of its prospectus with regards to repurchasing shares.
STARWOOD REAL ESTATE INCOME TRUST, INC.
4/16/2026 424B3
The Company reported its March 2026 NAV per share (table below) and satisfied approximately 3% of March 2026 repurchase requests (3% in February).
March February Class S: $19.82 $19.92 Class T: $19.83 $19.93 Class D: $19.40 $19.50 Class I: $19.65 $19.75 OP Units: $19.65 $19.75
Private Placement REITs
ARES INDUSTRIAL REAL ESTATE INCOME TRUST INC.
4/16/2026 8-K
The Company reported its March 2026 NAV per share:
March February All Classes: $13.2083 $13.2057
The Company declared March 2026 distributions:
March February Gross Dist: $0.05250 $0.05250 Record Date: 3/31/26
ARES REAL ESTATE INCOME TRUST INC.
4/16/2026 8-K
The Company reported its March 2026 NAV per share:
March February All Classes: $8.1467 $8.1200
The Company declared March 2026 distributions:
March February Gross Dist: $0.03450 $0.03450 Record Date: 3/31/26
EXCHANGERIGHT INCOME FUND
4/13/2026 8-K
The Company disclosed the sale of unregistered Class D shares for gross proceeds of approximately $0.42M.
FORTRESS CREDIT REALTY INCOME TRUST
4/14/2026 8-K
Subsidiaries of the Company entered into a repurchase agreement providing for up to $350M in uncommitted financing.
FRANKLIN BSP REAL ESTATE DEBT, INC.
4/14/2026 8-K
The Company declared March 2026 distributions, paid on 4/14/26:
March February Gross Dist: $0.1900 $0.1900 Record Date: 3/31/26
INVESCO COMMERCIAL REAL ESTATE FINANCE TRUST, INC.
4/16/2026 8-K
The Company reported its March 2026 NAV per share:
March February Class S-1: $24.9794 $24.9856 Class I: $24.9424 $24.9498 Class S: $24.8694 $24.8784 Class E: $25.8327 $25.8025 Class D: $24.8460 $24.8552 Class F: $25.9583 $25.9282 Class D-1: $24.8796 $24.8887
RITHM PERPETUAL LIFE RESIDENTIAL TRUST
4/15/2026 8-K
The Company reported its March 2026 NAV per share:
March February Class J: $20.1520 $20.1622 Class E: $20.2140 $20.2081
SCULPTOR DIVERSIFIED REAL ESTATE INCOME TRUST, INC.
4/16/2026 8-K
The Company reported its March 2026 NAV per share:
March February Class E: $11.7704 $11.7813 Class F: $11.4611 $11.4780 Class FF: $11.3175 $11.3351 Class AA: $11.2212 $11.2401 Class A: $11.1149 $11.1365 Class I-S: $11.0707 $11.0900 OP Units: $11.7704 $11.7813
Closed-End Funds
ANGEL OAK STRATEGIC CREDIT FUND (INTERVAL FUND)
4/10/2026 424B3
The Company reported that effective 4/10/26, Berkin Kologlu no longer serves as portfolio manager of the Company.
CALAMOS AKSIA ALTERNATIVE CREDIT & INCOME FUND (INTERVAL FUND)
4/13/2026 424B3
The Company amended its prospectus to replace UMB Fund Services, Inc. with State Street Bank and Trust Company as administrator and custodian, and U.S. Bank Global Fund Services as transfer agent.
FRANKLIN LEXINGTON PRIVATE MARKETS FUND (TENDER OFFER FUND)
4/17/2026 424B3
The Company amended the “Management of the Fund” section of its prospectus.
LINCOLN BAIN CAPITAL TOTAL CREDIT FUND (INTERVAL FUND)
4/10/2026 424B3
The Company amended its prospectus in connection with its entrance into an administrative agreement with State Street Bank and Trust Company.
LINCOLN PARTNERS GROUP ROYALTY FUND (TENDER OFFER FUND)
4/10/2026 424B3
The Company amended its prospectus in connection with its entrance into an administrative agreement with State Street Bank and Trust Company.
PGIM CREDIT INCOME FUND (INTERVAL FUND)
4/10/2026 424B3
The Company amended the language of several sections of its prospectus with regards to repurchasing shares.
PRINCIPAL REAL ASSET FUND (INTERVAL FUND)
4/14/2026 424B3
The Company is removing all references to Jessica S. Bush in its prospectus, effective 4/24/26.
Lifecycle REITs
INPOINT COMMERCIAL REAL ESTATE INCOME, INC.
4/15/2026 8-K
The Company reported its March 2026 NAV per share:
March February Class P: $13.4884 $13.9182 Class A: $13.5351 $13.9660 Class T: $13.6705 $14.1028 Class D: $13.5645 $13.9946 Class I: $13.5369 $13.9678
NATIONAL HEALTHCARE PROPERTIES, INC.
4/13/2026 8-K
The Company reported the authorization of up to 100 million shares of Class A common stock in connection with a proposed public offering, with such shares set to automatically convert into common stock 180 days after pricing, and also provided preliminary financial results for the quarter ended 3/31/26.
Other Alts
AUDAX PRIVATE CREDIT FUND, LLC (PRIVATE PLACEMENT BDC)
4/16/2026 8-K
The Company entered into a senior secured credit facility for an initial principal amount of $275M, with an accordion provision to permit increases to the total facility amount up to $412.5M.
CNL STRATEGIC CAPITAL, LLC (OTHER)
4/10/2026 424B3
The Company amended several sections of its prospectus and attached its annual 10-K report.
GOLDMAN SACHS PRIVATE CREDIT CORP. (PRIVATE PLACEMENT BDC)
4/15/2026 8-K
The Company priced a $750M private placement offering of its 6.150% notes due 2031. The notes will mature on 6/16/31 and the offering is expected to close on 4/21/26, with proceeds intended to repay existing debt and for general corporate purposes.
TCW DIRECT LENDING VII LLC (PRIVATE PLACEMENT BDC)
4/14/2026 8-K
The Company received sufficient unitholder consent to extend its term by one year from 4/13/26 to 4/13/27.
Registrations
CAZ GP STAKES GROWTH FUND
4/14/2026 N-2
Type: Interval Fund - IPO
Primary: Unlimited - Class A, C, E, I, and R Shares
The fund intends to invest in either direct or indirect investments in asset management firms, including firms that manage both publicly and privately offered funds across multiple strategies, geographies and asset classes.
FIRST TRUST ENHANCED PRIVATE CREDIT FUND
4/14/2026 N-2/A
Type: Interval Fund - IPO
Primary: Unlimited - Class A and I Shares
The fund invests in private credit investments, including privately negotiated and broadly syndicated corporate loans, CLOs, SRTs, CLNs, and other types of asset-backed fixed income securities.
HB WEALTH CREDIT OPPORTUNITIES FUND
4/13/2026 N-2
Type: Tender Offer Fund
Primary: Unlimited - Class A and I Shares
The fund intends to invest in credit and credit-like underlying investments.
LIBREMAX ASSET-BACKED INCOME FUND
4/15/2026 N-2/A
Type: Interval Fund - IPO
Primary: Unlimited - Class A, I, and L shares
The fund intends to invest in private asset-backed finance products, traded credit products, and other credit related investments that provide exposure to asset backed investments.
OXFORD PARK INCOME FUND, INC.
4/16/2026 N-2
Type: Tender Offer Fund
Primary: Unlimited - Class A, C, I, and L Shares
The fund intends to invest in portions of equity and junior debt tranches of CLO vehicles.
THIRD LAKE PARTNERS ALTERNATIVE YIELD STRATEGY FUND
4/10/2026 N-2
Type: Interval Fund
Primary: Unlimited - Class F Shares
The fund intends to invest in equity-linked structured notes.
WVB ALL MARKETS FUND
4/16/2026 N-2/A
Type: Interval Fund - IPO
Primary: Unlimited - Class A, I, and M Shares
The fund intends to invest in public equities, public fixed income, and private markets investments, specifically those managed by Blackstone or Vanguard without canvassing the universe of available vehicles by other managers.
WVB BLACKSTONE ALL PRIVATES FUND
4/15/2026 N-2/A
Type: Tender Offer Fund
Primary: Unlimited - Class A, I, and M Shares
The fund intends to invest primarily in pooled investment vehicles sponsored by affiliates of Blackstone Inc. directly or indirectly, and other investments that provide exposure to a broad range of asset classes and geographies in private markets.
