Volume XV No. 1 | Friday, January 2, 2026
Weekly Highlights
LIGHTSTONE VALUE PLUS REIT V, INC. (LIFECYCLE REIT)
12/31/2025 8-K
The Board approved an issuer self-tender offer for up to 2,200,000 shares of common stock at $14.08 per share; most recent NAV per share as of 9/30/25 was $16.56. The offer will commence on or about 12/31/25 and expire on 2/13/26. In connection, the Company suspended its share repurchase program indefinitely effective 12/30/25.
Press Room
Private Wealth Investors Propel Alternative Investments Past $1 Trillion; Poised to Double Over the Next Five Years (12/30/2025)
Robert A. Stanger & Company, Inc. announced that the alternative investment industry has officially surpassed $1 trillion in cumulative capital formation since 2000. “Surpassing the trillion-dollar mark is a watershed moment that validates the mainstream adoption of alternatives,” said Kevin T. Gannon, Chairman and CEO of Stanger. “What began as a specialized market has evolved into a vital pillar of private wealth portfolios, driven by the pursuit of yield, diversification, and private market access. While real estate has historically anchored the industry, closed-end funds and BDCs are experiencing unprecedented recent inflows, fueled by private credit and private equity strategies. The trillion-dollar milestone is not the finish line; it’s the starting point. Based on current trends, Stanger projects alternative investments to attract another $1 trillion of capital over the next five years.”
The above is an abbreviated version of an official Stanger press release. View the Full Press Release →
Current Reports
BDCs
AB PRIVATE LENDING FUND
12/29/2025 424B3
The Company amended the suitability standards section of its prospectus with regards to Alabama investors.
12/30/2025 8-K
The Company declared special December 2025 distributions, payable on or about 1/30/26:
December November Special Dist: $0.02 n/a Record Date: 12/31/25
ANTARES PRIVATE CREDIT FUND
12/30/2025 424B3
The Company amended the language of several sections of its prospectus.
12/31/2025 8-K
The Company reported its November 2025 NAV per share:
November October Class I: $25.17 $25.18
The Company declared December 2025 distributions, payable on or about 1/30/26:
December November Gross Dist: $0.1924 $0.1863 Special Dist: $0.0160 $0.0155 Record Date: 12/30/25
BAIN CAPITAL PRIVATE CREDIT
12/29/2025 8-K
The Company reported its November 2025 NAV per share:
November October Class I: $25.94 $25.93
The Company declared December 2025 distributions, payable on or about 1/30/26:
December November Gross Dist: $0.1875 $0.1875 Special Dist: $0.0300 n/a Record Date: 12/31/25
BLACKROCK PRIVATE CREDIT FUND
12/29/2025 8-K
The Company reported its November 2025 NAV per share (table below) and disclosed the sale of unregistered Institutional common shares to feeder vehicles pursuant to Regulation S for total consideration of $85M.
November October All Classes: $23.98 $23.99
The Company declared December 2025 distributions, payable on 1/28/26:
December November Gross Dist: $0.1959 $0.1959 Record Date: 12/30/25
BLUE OWL CAPITAL CORP II
12/31/2025 8-K
The Company updated its DRIP price:
December November Common: $8.27 $8.31
CRESCENT PRIVATE CREDIT INCOME CORP
12/29/2025 8-K 424B3
The Company reported its November 2025 NAV per share:
November October All Classes: $26.89 $26.89
The Company declared December 2025 distributions, payable on or about 1/30/26:
December November Gross Dist: $0.1600 $0.1600 Special Dist: $0.0400 $0.0400 Record Date: 12/31/25
FIDELITY PRIVATE CREDIT FUND
12/29/2025 8-K
The Company reported its November 2025 NAV per share:
November October Class I: $25.07 $25.23 Class S: $25.05 $25.21 Class D: $25.07 $25.23
The Company declared December 2025 distributions, payable on or about 1/30/26:
December November Gross Dist: $0.1750 $0.1750 Supp. Dist: $0.0160 $0.0160 Record Date: 12/31/25
HPS CORPORATE LENDING FUND
12/29/2025 8-K
The Company reported its November 2025 NAV per share:
November October All Classes: $25.27 $25.27
The Company declared December 2025 distributions, payable on or about 1/30/26:
December November Gross Dist: $0.1600 $0.1600 Supp. Dist: $0.0550 $0.0550 Record Date: 12/31/25
KENNEDY LEWIS CAPITAL CO
12/29/2025 8-K
The Company reported its November 2025 NAV per share:
November October Class I: $19.84 $20.38 Class S: $19.83 $20.34 Class D: $19.84 n/a
NUVEEN CHURCHILL PRIVATE CAPITAL INCOME FUND
12/29/2025 8-K
The Company reported its November 2025 NAV per share:
November October Class I: $24.39 $24.38 Class S: $24.32 $24.32 Class D: $24.39 $24.38
The Company declared December 2025 distributions, payable on 1/29/26:
December November Gross Dist: $0.170 $0.170 Record Date: 12/31/25
OAKTREE STRATEGIC CREDIT FUND
12/29/2025 8-K
The Company reported its November 2025 NAV per share:
November October All Classes: $22.95 $22.98
The Company declared December 2025 distributions, payable on or about 2/2/26:
December November Gross Dist: $0.1800 $0.1800 Record Date: 12/29/25
PGIM PRIVATE CREDIT FUND
12/30/2025 8-K
The Company reported its November 2025 NAV per share (table below) and disclosed the sale of unregistered Class S and D shares for an aggregate offering price of approximately $25,571.
November October Class S: $25.35 $25.35 Class D: $25.29 $25.29 Class I: $24.81 $24.81
The Company declared December 2025 distributions, payable on or about 1/30/26:
December November Gross Dist: $0.24000 $0.24000 Variable Dist: $0.03645 $0.03627 Record Date: 12/31/25
T. ROWE PRICE OHA SELECT PRIVATE CREDIT FUND
12/29/2025 8-K
The Company reported its November 2025 NAV per share:
November October All Classes: $26.87 $26.88
The Company declared December 2025 distributions, payable on or about 1/30/26:
December November Gross Dist: $0.2000 $0.2000 Supp. Dist: $0.0300 $0.0300 Record Date: 12/31/25
TPG TWIN BROOK CAPITAL INCOME FUND
12/29/2025 8-K
The Company reported its November 2025 NAV per share:
November October All Classes: $25.1509 $25.1700
The Company declared December 2025 distributions, payable on or about 1/28/26:
December November Gross Dist: $0.2000 $0.2100 Record Date: 12/31/25
NAV REITs
APOLLO REALTY INCOME SOLUTIONS, INC.
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/20/26:
December November Gross Dist: $0.1123 $0.1123 Record Date: 12/31/25
BGO INDUSTRIAL REAL ESTATE INCOME TRUST, INC.
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/8/26:
December November Gross Dist: $0.0392 $0.0392 Record Date: 12/31/25
BLACKSTONE REAL ESTATE INCOME TRUST, INC.
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/20/26:
December November Gross Dist: $0.0553 $0.0549 Record Date: 12/31/25
BROOKFIELD REAL ESTATE INCOME TRUST INC.
12/30/2025 8-K 424B3
The Company declared December 2025 distributions, payable on or about 1/20/26 (table below) and amended the suitability standards section of its prospectus.
December November Gross Dist: $0.0718 $0.0716 Record Date: 12/30/25
COHEN & STEERS INCOME OPPORTUNITIES REIT, INC.
12/29/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/22/26:
December November Gross Dist: $0.0435 $0.0435 Record Date: 12/31/25
COTTONWOOD COMMUNITIES, INC.
12/29/2025 424B3
The Company amended the suitability standards section of its prospectus with regards to Alabama investors.
EQT EXETER REAL ESTATE INCOME TRUST, INC.
12/30/2025 8-K 424B3
The Company declared December 2025 distributions, payable on or about 1/12/26 (table below) and announced the acquisition of a 76,007 square foot last mile industrial facility located on approximately 9.6 acres of land in Torrance, California for a purchase price of approximately $51.5M, exclusive of closing costs.
December November Gross Dist: $0.04326 $0.04326 Record Date: 12/31/25
INVESCO REAL ESTATE INCOME TRUST INC.
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/12/26:
December November Gross Dist: $0.1395 $0.1380 Record Date: 12/31/25
IPC ALTERNATIVE REAL ESTATE INCOME TRUST, INC.
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/6/26:
December November Gross Dist: $0.1042 $0.1042 Record Date: 12/31/25
J.P. MORGAN REAL ESTATE INCOME TRUST, INC.
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/6/26:
December November Gross Dist: $0.0416 $0.0411 Record Date: 12/31/25
STARWOOD REAL ESTATE INCOME TRUST, INC.
12/30/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/6/26:
December November Gross Dist: $0.1035 $0.1035 Record Date: 12/31/25
STRATCAP DIGITAL INFRASTRUCTURE REIT, INC.
12/31/2025 8-K 424B3
The Company accepted cancellations of a total of 250,000 Class I shares held by the sponsor for no consideration and a corresponding number of Class I units in SWIF II Operating Partnership, LP. In addition, the Company announced that effective as of 1/1/26, Eric Graham will resign as General Counsel and SVP of the advisor and as a member of the investment committee of the sponsor, and Scott Riggs will resign as Head of Wireless Investments of the advisor and as a member of the investment committee of the sponsor. Finally, the Company amended the suitability standards section of its prospectus and its subscription agreement.
Private Placement REITs
BLACKROCK MONTICELLO DEBT REAL ESTATE INVESTMENT TRUST
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/20/26:
December November Gross Dist: $0.1927 $0.1927 Special Dist: $0.1018 n/a Record Date: 12/31/25
INVESCO COMMERCIAL REAL ESTATE FINANCE TRUST, INC.
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/14/26:
December November Gross Dist: $0.1600 $0.1600 Record Date: 12/31/25
NEW MOUNTAIN NET LEASE TRUST
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/9/26:
December November Gross Dist: $0.1546 $0.1336 Record Date: 12/31/25
PRINCIPAL CREDIT REAL ESTATE INCOME TRUST
12/31/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/20/26 (table below) and announced the resignation and retirement of Patricia Bailey from her role as Chief Operating Officer of the Company. In connection, Rajee Harris has been appointed as Chief Business Officer of the Company.
December November Gross Dist: $0.1350 $0.1350 Special Dist: $0.0400 n/a Record Date: 12/31/25
STARWOOD CREDIT REAL ESTATE INCOME TRUST
12/30/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/6/26:
December November Gross Dist: $0.1560 $0.1560 Special Dist: $0.2100 n/a Record Date: 12/31/25
Closed-End Funds
AXXES PRIVATE MARKETS FUND
12/30/2025 424B3
The Company approved the designation of Mr. Michael Wittke as Chief Compliance Officer of the Company in place of Ms. Karrie Jerry.
HARRISON STREET INFRASTRUCTURE INCOME FUND
12/30/2025 424B3
The Company announced that the adviser has agreed to extend its voluntary waiver of a portion of its management fee through 3/31/26.
STEPSTONE PRIVATE EQUITY STRATEGIES FUND
12/31/2025 424B3
The Company filed an updated prospectus for its offering of Class S, D, and I shares.
Lifecycle REITs
INLAND REAL ESTATE INCOME TRUST, INC.
12/30/2025 8-K
The Company declared previously announced Q4 2025 distributions, payable on or about 1/7/26:
Q4 Q3 Gross Dist: $0.1356 $0.1356 Record Date: 12/31/25
INPOINT COMMERCIAL REAL ESTATE INCOME, INC.
12/30/2025 8-K
The Company declared December 2025 distributions, payable on or about 1/20/26:
December November Gross Dist: $0.1042 $0.1042 Record Date: 12/31/25
Other Alts
GREENBACKER RENEWABLE ENERGY CO LLC
12/29/2025 8-K
The Company entered into a consultant agreement with David Sher, under which Mr. Sher will provide certain services to the Company following the end of his employment with the Company on 12/31/25.
Registrations
CIFC DIRECT LENDING EVERGREEN FUND LP
12/30/2025 10-12G
Type: Private Placement BDC
Primary: Unlimited - Common Shares
The fund intends to invest primarily in privately negotiated, secured U.S. corporate loans and debt securities possessing a security interest on all or a portion of assets of the borrower/issuer.
DIAMETER DYNAMIC CREDIT FUND
12/29/2025 N-2/A
Type: Interval Fund - IPO
Primary: Unlimited - Class A and I Shares
The fund intends to invest in performing first and second lien bank loans, secured and unsecured high yield bonds and investment grade bonds, structured credit products, and direct lending and related investments.
HPS CORPORATE LENDING FUND
12/30/2025 N-2
Type: BDC - Follow-On
Primary: $30B - Class S, D, I, and F Shares
The fund invests primarily in originated senior secured debt and other securities of private upper middle market U.S. companies.
ORIGIN REAL ESTATE CREDIT FUND
12/30/2025 N-2/A
Type: Interval Fund - IPO
Primary: Unlimited - Class A, E, I, and O Shares
The fund intends to invest in a portfolio of multifamily real estate loans and other real estate-related investments located in the United States.
SOUND POINT ALTERNATIVE INCOME FUND
12/30/2025 N-2/A
Type: Interval Fund - IPO
Primary: Unlimited - Class I, Y, and A Shares
The fund intends to invest in a portfolio of liquid, private, and structured credit strategies.
TORTOISE ENERGY & INFRASTRUCTURE INTERVAL FUND
12/30/2025 N-2
Type: Interval Fund - IPO
Primary: Unlimited - Class A-1, A-2, C-1, C-2, and I Shares
The fund intends to invest in assets in the energy value chain, including companies engaged in the exploration, production, processing, transportation, storage and distribution of energy commodities or in long-lived, capital-intensive assets that provide essential services within the energy value chain and are often characterized by fee-based, contractual or regulated revenue structures, with an emphasis on energy infrastructure assets.
