Volume XV No. 19 | Friday, May 8, 2026
Weekly Highlights
GOLUB CAPITAL PRIVATE CREDIT FUND (NAV BDC)
5/7/2026 8-K Letter
The Company issued a letter to shareholders where they reported Q2 2026 repurchase requests of approximately 8.5% of shares outstanding as of 12/31/25 and will be fulfilling up to the 5% quarterly cap, or 59% of requests.
NUVEEN CHURCHILL PRIVATE CAPITAL INCOME FUND (NAV BDC) & NUVEEN CHURCHILL BDC V (PRIVATE PLACEMENT BDC)
5/6/2026 8-K 8-K
The Companies reported that Nuveen Churchill Private Capital Income Fund has completed its previously announced acquisition of Nuveen Churchill BDC V for an aggregate purchase price of $347M.
PRIVACORE PCAAM ALTERNATIVE GROWTH FUND (INTERVAL FUND)
5/4/2026 N-2/A
Type: Interval Fund
Primary: Unlimited - Class D, I, and S Shares
The Company completed its conversion from a tender offer fund to an interval fund. The fund invests in private market assets that provide the opportunity for capital growth, with an expected bias toward private equity investments.
Press Room
NAV REITs Extend Momentum into 2026 as Performance and Fundraising Strengthen (5/6/2026)
Stanger has published its Q1 2026 Non-Listed REIT edition of The Stanger Report, highlighting continued strength in NAV REIT performance and improving fundraising momentum amid broader capital rotation toward hard asset strategies. NAV REIT performance remained positive in Q1 2026, with both Stanger NAV REIT indices posting their fifth consecutive quarter of positive total returns and outperforming major public REIT benchmarks over the trailing twelve months. The Stanger Public NAV REIT Total Return Index rose 1.6% in Q1 and 6.2% over the trailing twelve months, while the Stanger Composite NAV REIT Total Return Index, which incorporates both publicly registered and private placement NAV REITs, gained 1.7% in Q1 and 6.9% over the same period. By comparison, the three major public REIT indices tracked by Stanger averaged a 5.8% return over the past year. “The momentum is real,” said Kevin T. Gannon, Chairman & CEO of Stanger. “NAV REITs have now posted five consecutive quarters of positive total returns, with both Stanger indices outperforming public REIT benchmarks over the past year. Fundraising is improving, NAV growth remains positive, and investors are increasingly focused on real estate as capital rotates toward hard asset strategies. We expect that trend to remain an important driver of alternative investment flows throughout 2026.”
The above is an abbreviated version of an official Stanger press release. View the Full Press Release →
Current Reports
BDCs
AB PRIVATE LENDING FUND
5/6/2026 8-K/A
The Company reported its corrected March 2026 NAV per share:
March February Class I: $24.66 $25.00
ANTARES PRIVATE CREDIT FUND
5/1/2026 8-K
The Company reported its March 2026 NAV per share:
March February Class I: $24.57 $24.67
The Company declared April 2026 distributions, payable on or about 5/29/26:
April March Gross Dist: $0.1818 $0.1886 Special Dist: n/a $0.0052 Record Date: 4/30/26
APOLLO DEBT SOLUTIONS BDC
5/7/2026 8-K
The Company priced a $300M private placement offering of its 6.550% notes due 2032, which will mature on 3/15/32. The offering closed on 5/7/26.
BAIN CAPITAL PRIVATE CREDIT
5/6/2026 424B3
The Company filed an updated prospectus for its offering of Class D, I, and S Shares.
BLACKROCK PRIVATE CREDIT FUND
5/4/2026 8-K
The Company declared April 2026 distributions payable on 5/27/26:
April March Gross Dist: $0.1921 $0.1922 Record Date: 4/29/26
BLUE OWL CREDIT INCOME CORP.
5/1/2026 8-K
The Company completed a $395.8M term debt securitization refinancing.
GOLUB CAPITAL PRIVATE CREDIT FUND
5/7/2026 8-K
The Company declared May, June, and July distributions, payable on 6/29/26, 7/30/26, and 8/28/26, respectively:
May, Jun, Jul Feb, Mar, Apr Gross Dist: $0.1875 $0.1875 Record Dates: 5/31/26, 6/30/26, 7/31/26
GUGGENHEIM INVESTMENTS PRIVATE CREDIT FUND
5/8/2026 N-2/A
Type: BDC
Primary: $2.5B - Class S, D, and I Shares
The Company filed an amended prospectus. The fund intends to invest in U.S. private companies in the middle market and upper-middle market in the form of first lien and senior secured loans.
JOHN HANCOCK COMVEST PRIVATE INCOME FUND
5/1/2026 8-K
The Company reported its March 2026 NAV per share:
March February Class I: $25.08 $25.16
The Company declared April 2026 distributions, payable on or about 5/25/26:
April March Gross Dist: $0.1990 $0.2113 Record Date: 4/29/26
KENNEDY LEWIS CAPITAL CO
5/4/2026 8-K
The Company reported its March 2026 NAV per share:
March February Class I: $19.97 $20.29 Class S: $19.94 $20.23 Class D: $19.97 $20.27
PROSPECT CAPITAL CORP
5/7/2026 8-K Press Release
The Company declared June, July, and August 2026 distributions for its non-listed preferreds (table below), payable on 7/1/26, 8/3/26, and 9/1/26, respectively, and announced its financial results for Q1 2026.
Jun, Jul, Aug Mar, Apr, May Floating Rate Pref: $0.135417 $0.135417 7.50% Pref: $0.156250 $0.156250 5.50% Pref: $0.114583 $0.114583 6.50% Pref: $0.135417 $0.135417 Record Dates: 6/18/26, 7/22/26, 8/19/26
May - Jul Feb - Apr 5.35% Pref: $0.334375 $0.334375 Record Date: 7/22/26
T. ROWE PRICE OHA SELECT PRIVATE CREDIT FUND
5/6/2026 8-K Press Release
The Company announced its financial results and total distributions declared for Q1 2026.
NAV REITs
BLACKSTONE REAL ESTATE INCOME TRUST, INC.
5/5/2026 8-K
The Company disclosed the sale of unregistered Class S-2 shares for an aggregate consideration of $32.6M.
CANTOR FITZGERALD INCOME TRUST, INC.
5/6/2026 8-K
The Company declared April 2026 distributions payable on or about 5/6/26:
April March Gross Dist: $0.08310 $0.08536 Record Date: 4/30/26
COHEN & STEERS INCOME OPPORTUNITIES REIT, INC.
5/7/2026 8-K
The Company disclosed the sale of unregistered Class P, B, R-I, and R-S shares for an aggregate purchase price of $13.3M.
COTTONWOOD COMMUNITIES, INC.
5/7/2026 8-K
The Company issued and sold shares of its 9/19/23 offering of Series A convertible preferred stock for aggregate proceeds of $2.1M.
EQT EXETER REAL ESTATE INCOME TRUST, INC.
5/7/2026 8-K
The Company disclosed the issuance of common shares pursuant to DRIP and common shares in a private placement for an aggregate purchase price of $3.31M.
IPC ALTERNATIVE REAL ESTATE INCOME TRUST, INC.
5/1/2026 8-K
The Company invested additional offering proceeds into its Operating Partnership, and as of 5/1/26, determined its interest became significant under GAAP, resulting in the consolidation of the Operating Partnership and the presentation of its financial results on a fully consolidated basis.
JLL INCOME PROPERTY TRUST, INC.
5/1/2026 424B3
The Company reported its April 2026 daily NAV per share (table below) and disclosed that it satisfied 100% of redemption requests in April for a total of ~$26M.
Apr. 30 Mar. 31 Class A: $11.25 $11.23 Class M: $11.27 $11.25 Class A-I: $11.28 $11.27 Class M-I: $11.26 $11.24
5/6/2026 8-K
The Company disclosed the sale of unregistered Class I and S shares through its continuous private offering from November 2025 to May 2026 for aggregate consideration of $27.2M.
RREEF PROPERTY TRUST, INC.
5/1/2026 8-K 424B3
The Company reported its April 2026 daily NAV per share (table below), and disclosed that it received April 2026 redemption requests in excess of its 2.0% monthly limit, resulting in 95.6% of all redemption requests being honored (79.4% in March).
Apr. 30 Mar. 31 Class A: $13.12 $13.12 Class I: $13.22 $13.22 Class T: $13.27 $13.26 Class D: $13.25 $13.25 Class M-I: $13.11 $13.12 Class T2: $13.05 $13.05 Class N: $13.13 $13.14
The Company declared April 2026 distributions, payable on 5/4/26:
April March Gross Dist: $0.07495 $0.07495 Record Date: 5/1/26
Private Placement REITs
ARES INDUSTRIAL REAL ESTATE INCOME TRUST INC.
5/6/2026 8-K
The Company disclosed the sale of unregistered Class I-PR, D-PR, and S-PR shares for gross proceeds of approximately $36.1M and renewed its advisory agreement.
ARES REAL ESTATE INCOME TRUST INC.
5/6/2026 8-K
The Company disclosed the sale of unregistered Class I-PR and S-PR shares for gross proceeds of approximately $44.1M and renewed its advisory agreement.
BLACKROCK MONTICELLO DEBT REAL ESTATE INVESTMENT TRUST
5/6/2026 8-K
The Company disclosed the sale of unregistered Class F-I and F-S shares for gross proceeds of approximately $24.8M.
BLUE OWL DIGITAL INFRASTRUCTURE TRUST
5/6/2026 8-K
The Company declared an increase to its gross distribution rate from $0.4500 to $0.5000 per share per year for each class of its common shares for shareholders of record following the close of business on 4/30/26.
BLUE OWL REAL ESTATE NET LEASE TRUST
5/5/2026 8-K
The Company declared April 2026 distributions (table below), payable on or about 5/18/26, and disclosed the sale of unregistered Class S, N, D, and I common shares for gross proceeds of approximately $115.9M.
April March Gross Dist: $0.0625 $0.0625 Record Date: 4/30/26
EXCHANGERIGHT INCOME FUND
5/6/2026 8-K
The Company disclosed the sale of unregistered Class ER-A shares for gross proceeds of approximately $0.6M.
FORTRESS CREDIT REALTY INCOME TRUST
5/6/2026 8-K
A subsidiary of the Company amended its master repurchase agreement to temporarily increase the financing available up to $1.3B.
5/7/2026 8-K
The Company declared April 2026 distributions (table below), payable on or about 5/1/26, and disclosed the sale of unregistered common shares for gross proceeds of $21.6M.
April March Gross Dist: $0.1544 $0.1544 Record Date: 4/30/26
FORTRESS NET LEASE REIT
5/7/2026 8-K
The Company declared April 2026 distributions (table below), payable on or about 5/1/26, and disclosed the sale of unregistered common shares for gross proceeds of $67.1M.
April March Gross Dist: $0.0728 $0.0717 Record Date: 4/30/26
FRANKLIN BSP REAL ESTATE DEBT, INC.
5/5/2026 8-K
The Company disclosed the sale of unregistered Class G, G-D, G-S, and E common stock for aggregate consideration of $22.7M.
5/6/2026 8-K
The Company amended its master repurchase agreement with Wells Fargo Bank to increase the maximum amount of advances from $150M to $250M.
GOLDMAN SACHS REAL ESTATE FINANCE TRUST INC
5/7/2026 8-K
The Company declared April 2026 distributions (table below), payable on or about 5/10/26, and disclosed the sale of unregistered Class I and S common shares for gross proceeds of $20.2M.
April March Gross Dist: $0.1660 $0.1660 Record Date: 4/30/26
INVESCO COMMERCIAL REAL ESTATE FINANCE TRUST, INC.
5/7/2026 8-K
The Company disclosed the sale of unregistered shares of common stock at March NAV per share plus upfront selling commissions for aggregate consideration of $68.8M and issued common shares under its distribution reinvestment plan. Price per share as follows:
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-1: $24.8796 n/a
NEW MOUNTAIN NET LEASE TRUST
5/6/2026 8-K
The Company disclosed the sale of unregistered Class F and I common shares for aggregate consideration of $17.9M.
NORTH HAVEN NET REIT
5/1/2026 8-K
The Company declared April 2026 distributions, payable on or about 5/20/26:
April March Gross Dist: $0.1163 $0.1156 Record Date: 4/30/26
5/7/2026 8-K
The Company disclosed the sale of unregistered Class S, F-I, I, and E common shares for aggregate consideration of approximately $64M.
PRINCIPAL CREDIT REAL ESTATE INCOME TRUST
5/6/2026 8-K
The Company disclosed the sale of unregistered Class F-S, F-I, and E shares in connection with their private offering for an aggregate purchase price of $0.5M.
RITHM PERPETUAL LIFE RESIDENTIAL TRUST
5/6/2026 8-K
The Company declared April 2026 distributions, payable on or about 5/20/26 (table below), and disclosed the sale of unregistered Class J shares for aggregate consideration of approximately $8.9M.
April March Gross Dist: $0.1700 $0.1700 Record Date: 4/30/26
SCULPTOR DIVERSIFIED REAL ESTATE INCOME TRUST, INC.
5/6/2026 8-K
The Company declared April 2026 distributions (table below), payable on or about 5/12/26, and disclosed the sale of unregistered Class E, A, and AA shares for gross proceeds of approximately $44.8M.
April March Gross Dist: $0.0670 $0.0671 Record Date: 4/30/26
5/7/2026 8-K
The Company, through its wholly owned subsidiary MIH Investor LLC, committed $87M for an approximately 33% interest in a joint venture with affiliated Sculptor-managed funds to acquire the JW Marriott Marco Island Beach Resort. The joint venture acquired the resort for $835M, financing the transaction with a $690M mortgage loan and equity contributions from the venture partners.
STERLING REAL ESTATE TRUST
5/1/2026 8-K
The Company amended its redemption plans to increase the aggregate maximum amount of shares and units that may be redeemed from $75M to $100M effective 3/19/26 and amended its common shares plan to increase the number of shares authorized under the plan from 40,000 to 60,000.
Closed-End Funds
ADVISOR LINX PRIVATE STRATEGIES FUND (TENDER OFFER FUND)
5/6/2026 N-2
Type: Tender Offer Fund
Primary: Unlimited - Class I Shares
The Company filed its initial prospectus. The fund intends to invest in a portfolio of funds that invest in a variety of asset classes, including private equity, private credit, private real estate, infrastructure, commodities, and hedge fund strategies.
ALGER NEXT GEN GROWTH FUND (INTERVAL FUND)
4/30/2026 EFFECT 5/4/2026 424B3
Type: Interval Fund
Primary: Unlimited - Class A and Z Shares
The Company’s offering went effective. The fund intends to invest primarily in domestic and foreign equity securities of growth companies.
AMG BBH ASSET-BACKED CREDIT FUND, LLC (INTERVAL FUND)
5/6/2026 N-2/A
Type: Interval Fund
Primary: Unlimited - Class S, I, and M Units
The Company filed an amended prospectus. The fund intends to invest in a varied portfolio of asset-backed credit investments.
ARDIAN ACCESS SECONDARY INFRASTRUCTURE FUND LLC (TENDER OFFER FUND)
5/1/2026 N-2/A
Type: Tender Offer Fund
Primary: Unlimited - Class J, D, I, and X Units
The Company filed an amended prospectus. The fund intends to invest in a global portfolio of private infrastructure investments.
ARISTOTLE PACIFIC ENHANCED CLO INCOME FUND (INTERVAL FUND)
5/1/2026 424B3
The Company filed an updated prospectus for its offering of Class I and I-2 Shares.
BANNER RIDGE DSCO PRIVATE MARKETS FUND (TENDER OFFER FUND)
5/5/2026 N-2/A
Type: Tender Offer Fund
Primary: Unlimited - Common Shares
The Company filed an amended prospectus. The fund intends to invest in private investments on an opportunistic basis primarily in the United States and Europe.
COATUE INNOVATIVE STRATEGIES FUND (TENDER OFFER FUND)
5/1/2026 424B3
The Company filed an updated prospectus for its offering of Class D, I, and S Shares.
FIRST EAGLE CREDIT OPPORTUNITIES FUND (INTERVAL FUND)
5/7/2026 424B3
The Company filed an updated prospectus for its offering of Class A, A-1, A-2, A-3, A-4, I, and W Shares.
FIRST EAGLE REAL ESTATE DEBT FUND (INTERVAL FUND)
5/7/2026 424B3
The Company filed an updated prospectus for its offering of Class A-1, A-2, A-3, A-4, I, and W Shares.
FIRST EAGLE TACTICAL MUNICIPAL OPPORTUNITIES FUND (INTERVAL FUND)
5/7/2026 424B3
The Company filed an updated prospectus for its offering of Class A-1, A-2, A-3, A-4, I, and W Shares.
FIRST TRUST ENHANCED PRIVATE CREDIT FUND (INTERVAL FUND)
5/5/2026 424B3
The Company filed an updated prospectus for its offering of Class A and I Shares.
FS MVP PRIVATE MARKETS FUND (TENDER OFFER FUND)
5/1/2026 424B3
The Company amended the “Procedures for Repurchase of Shares” section of its prospectus.
INVESCO DYNAMIC CREDIT OPPORTUNITY FUND (INTERVAL FUND)
5/1/2026 424B3
The Company amended its prospectus related to Merrill Lynch by replacing the section governing sales load waivers, discounts, and eligibility criteria for mutual fund share transactions, including updates to Rights of Accumulation and the discontinuation of new Letters of Intent.
INVESCO SENIOR LOAN FUND (INTERVAL FUND)
5/1/2026 424B3
The Company amended its prospectus related to Merrill Lynch by replacing the section governing sales load waivers, discounts, and eligibility criteria for mutual fund share transactions, including updates to Rights of Accumulation and the discontinuation of new Letters of Intent.
LOOMIS SAYLES CREDIT INCOME OPPORTUNITIES FUND (INTERVAL FUND)
5/7/2026 EFFECT 4/28/2026 N-2/A
Type: Interval Fund
Primary: Unlimited
The Company’s offering went effective. The fund intends to invest in credit focused investments including corporate issues, mortgage backed and asset backed securities, structured notes, credit default swaps, preferred equity, debt securities, and more.
NYLI MACKAY MUNI INCOME OPPORTUNITIES FUND (INTERVAL FUND)
5/1/2026 424B3
The Board approved a name change of the Company to NYLIM MacKay Muni Income Opportunities Fund, expected to take place on or around 8/28/26.
THIRD LAKE PARTNERS ALTERNATIVE YIELD STRATEGY FUND (INTERVAL FUND)
5/6/2026 N-2
Type: Interval Fund
Primary: Unlimited - Class F Shares
The Company filed an updated prospectus. The fund intends to invest in equity-linked structured notes.
USVC VENTURE CAPITAL ACCESS FUND (TENDER OFFER FUND)
5/1/2026 424B3
The Company filed an updated prospectus for its offering of Common Shares.
Other Alts
BARINGS CAPITAL INVESTMENT CORP (PRIVATE PLACEMENT BDC)
5/7/2026 8-K
The Company held its annual meeting of stockholders where John A. Switzer was elected as a Class I director.
BARINGS PRIVATE CREDIT CORP (PRIVATE PLACEMENT BDC)
5/4/2026 EFFECT 5/6/2026 424B3
Type: Private Placement BDC - Notes exchange
Primary: $750M aggregate principal amount
The fund is offering to exchange all of its outstanding and unregistered 6.150% Notes due 2030 and 5.750% Notes due 2029 for an equal amount of its new Notes, respectively, that have been registered.
CNL STRATEGIC CAPITAL, LLC (OTHER)
5/4/2026 8-K
The Company held its reconvened special meeting of shareholders and adjourned the meeting again until 5/27/26, in order to allow additional time to solicit votes on the enhanced liquidity plan proposal.
CREATIVE MEDIA & COMMUNITY TRUST CORP (NON-TRADED PREFERRED)
5/8/2026 8-K Press Release Presentation
The Company filed a press release announcing its financial results for the period ended 3/31/26, as well as a Q1 investor presentation.
GOLDMAN SACHS PRIVATE CREDIT CORP. (PRIVATE PLACEMENT BDC)
5/5/2026 424B3
The Company extended the expiration date of its exchange offer of restricted notes for exchange notes from 4/30/26 to 5/5/26.
GOLUB CAPITAL BDC 4, INC. (PRIVATE PLACEMENT BDC)
5/7/2026 8-K Presentation
The Company provided an earnings presentation to its shareholders of record as of 3/31/26.
MUZINICH CORPORATE LENDING INCOME FUND, INC. (PRIVATE PLACEMENT BDC)
5/1/2026 8-K
The Adviser extended its reduced fee waiver from 1.25% to 0.95% of NAV through 9/30/26.
NEW MOUNTAIN GUARDIAN IV INCOME FUND, L.L.C. (PRIVATE PLACEMENT BDC)
5/7/2026 8-K
The Company appointed Laura C. Holson as the interim CFO and Treasurer of the Company, effective 5/29/26.
NEW MOUNTAIN PRIVATE CREDIT FUND (PRIVATE PLACEMENT BDC)
5/7/2026 8-K
The Company appointed Laura C. Holson as the interim CFO and Treasurer of the Company, effective 5/29/26.
NMF SLF I, INC. (PRIVATE PLACEMENT BDC)
5/7/2026 8-K
The Company appointed Laura C. Holson as the interim CFO and Treasurer of the Company, effective 5/29/26.
TRIPLEPOINT PRIVATE VENTURE CREDIT INC. (PRIVATE PLACEMENT BDC)
5/1/2026 8-K
The Company held its annual meeting of stockholders where two Class I directors were elected to serve on the Board and the appointment of Deloitte & Touche LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending 12/31/26 was ratified.
