Volume XV No. 35 | Friday, August 28, 2026
Press Room
Alternative Investment Fundraising Surpasses $104 Billion Through July 2026 (8/25/2026)
Stanger has published its July 2026 issue of The Stanger Market Pulse and the Q2 2026 edition of The Stanger Chairman’s Report. The report highlights continued capital rotation away from credit and toward hard asset strategies alongside a growing shift toward private placement structures. Alternative investment fundraising totaled $104.3 billion through July 2026, down 12% from $118.6 billion in the same period of 2025. The decline remained concentrated in credit strategies, where year-to-date fundraising fell 43% to $35.8 billion from $62.3 billion. Excluding credit, fundraising increased 22% year-over-year to $68.5 billion. Hard asset momentum carried into the third quarter. HALO strategies – hard assets with low obsolescence, consisting of real estate and infrastructure – raised $34.0 billion through July, up 36% from $25.0 billion through July last year. Infrastructure remained the strongest contributor to hard asset growth, raising $17.6 billion through July, up 66% from the same period in 2025. Real estate strategies raised $16.4 billion, up 14%. Together, the two categories have accounted for approximately one-third of total alternative investment fundraising through July. “The market crossed $100 billion in July, but the more telling story is where that capital is going,” said Kevin T. Gannon, Chairman & CEO of Stanger. “More than half of the capital raised year-to-date has come in through private placements rather than publicly registered programs, and hard assets have now outraised credit for four consecutive months. We expect that pattern to remain a defining feature of the market in the second half.”
The above is an abbreviated version of an official Stanger press release. View the Full Press Release →
Weekly Highlights
ANGEL OAK RESIDENTIAL EVERGREEN TRUST (PRIVATE PLACEMENT REIT)
8/21/2026 10-12G
Type: Private Placement REIT
Primary: Unlimited - Series A and B Shares
The Company filed its initial prospectus. The fund intends to invest in US residential mortgage loans and residential mortgage-backed securities.
STEELE CREEK CAPITAL CORP (PRIVATE PLACEMENT BDC)
8/25/2026 8-K Letter
The Board unanimously approved a deleveraging plan in anticipation of a likely full liquidation and dissolution. In connection, the Company sold 164 broadly syndicated loan investments, representing 75.8% of its investment portfolio as of 6/30/26, for approximately $73M in gross proceeds and a $1.7M net realized loss, and expects to use approximately $65M of the proceeds to repay its Bank of America credit facility in full. The Company also indefinitely suspended the sale of shares while the Board considers a liquidation plan, which would require shareholder approval, with liquidation and distributions targeted for completion by year-end if approved.
Current Reports
BDCs
ANTARES PRIVATE CREDIT FUND
8/21/2026 8-K 424B3
The Company amended and restated its advisory agreement, as well as its administration agreement and several governing documents. In addition, the Company amended several sections of its prospectus and attached its 10-Q report.
8/27/2026 8-K
The Company reported its July 2026 NAV per share:
July June Class I: $24.61 $24.59
The Company declared August 2026 distributions, payable on or about 9/29/26:
August July Gross Dist: $0.1881 $0.1880 Record Date: 8/27/26
BAIN CAPITAL PRIVATE CREDIT
8/25/2026 8-K
The Company reported its July 2026 NAV per share (table below) and disclosed the sale of unregistered Class I shares to feeder vehicles pursuant to Regulation S for total consideration of $10.1M.
July June Class I: $25.94 $25.89
The Company declared August 2026 distributions, payable on or about 9/30/26:
August July Gross Dist: $0.1875 $0.1875 Record Date: 8/31/26
BLACKROCK PRIVATE CREDIT FUND
8/26/2026 8-K
The Company reported its July 2026 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 $5.8M.
July June All Classes: $23.54 $23.49
The Company declared August 2026 distributions payable on 9/28/26:
August July Gross Dist: $0.1775 $0.1772 Record Date: 8/28/26
BLUE OWL CREDIT INCOME CORP.
8/24/2026 8-K
The Company reported its July 2026 NAV per share (table below) and disclosed the sale of unregistered Class I common shares to feeder vehicles pursuant to Regulation S for total consideration of $2.3M.
July June Class S: $9.07 $9.05 Class D: $9.08 $9.06 Class I: $9.09 $9.08
The Company declared August, September, and October 2026 distributions, payable on or before 9/30/26, 10/30/26, 11/30/26, respectively:
Aug, Sep, Oct May Gross Dist: $0.0701 $0.0701 Record Dates: 8/31/26, 9/30/26, 10/30/26
8/25/2026 8-K
A subsidiary of the Company amended its senior secured revolving credit facility to update certain eligibility criteria, concentration limits and other terms.
BLUE OWL TECHNOLOGY INCOME CORP.
8/24/2026 8-K
The Company reported its July 2026 NAV per share (table below) and disclosed the sale of unregistered Class I common shares to feeder vehicles pursuant to Regulation S for total consideration of $1.3M.
July June All Classes: $9.67 $9.70
The Company declared August, September, and October 2026 distributions, payable on or before 9/30/26, 10/30/26, and 11/30/26, respectively:
Aug, Sep, Oct July Gross Dist: $0.074775 $0.074775 Record Dates: 8/31/26, 9/30/26, 10/30/26
CRESCENT PRIVATE CREDIT INCOME CORP
8/25/2026 8-K 424B3
The Company reported its July 2026 NAV per share:
July June All Classes: $26.33 $26.26
The Company declared August 2026 distributions, payable on or about 9/30/26:
August July Gross Dist: $0.1650 $0.1650 Record Date: 8/31/26
FIDELITY PRIVATE CREDIT FUND
8/27/2026 8-K Fact Sheet
The Company reported its July 2026 NAV per share (table below) and issued a fact sheet as of July 2026.
July June Class I: $24.69 $24.72 Class S: $24.66 $24.70 Class D: $24.69 $24.72
The Company declared August 2026 distributions, payable on or about 9/30/26:
August July Gross Dist: $0.1750 $0.1750 Supp. Dist: $0.0160 $0.0160 Record Date: 8/31/26
FIRST EAGLE PRIVATE CREDIT FUND
8/25/2026 424B3
The Company amended several sections of its prospectus, updated its subscription agreement, and attached its 10-Q report.
GOLUB CAPITAL PRIVATE CREDIT FUND
8/24/2026 8-K
The Company reported its July 2026 NAV per share:
July June All Classes: $24.21 $24.17
The Company declared previously reported August 2026 distributions, payable on or about 9/29/26:
August July Gross Dist: $0.1875 $0.1875 Record Date: 8/31/26
8/25/2026 8-K Update
The Company issued a quarterly update for Q2 2026.
HPS CORPORATE LENDING FUND
8/26/2026 8-K
The Company reported its July 2026 NAV per share:
July June All Classes: $24.45 $24.42
The Company declared August 2026 distributions, payable on or about 9/30/26:
August July Gross Dist: $0.1600 $0.1600 Supp. Dist: $0.0390 $0.0390 Record Date: 8/31/26
NEXPOINT CAPITAL, INC.
8/21/2026 8-K
The Company reported its new NAV per share:
7/31/26 6/30/26 All Classes: $4.67 $4.36
OAKTREE STRATEGIC CREDIT FUND
8/26/2026 8-K
The Company reported its July 2026 NAV per share:
July June All Classes: $22.30 $22.32
The Company declared August 2026 distributions, payable on or about 9/28/26:
August July Gross Dist: $0.1600 $0.1600 Record Date: 8/27/26
PROSPECT FLOATING RATE & ALTERNATIVE INCOME FUND, INC.
8/24/2026 8-K
The Company declared August 2026 distributions, payable on 9/8/26:
August July Gross Dist: $0.03242 $0.03655 Record Date: 8/31/26
TPG TWIN BROOK CAPITAL INCOME FUND
8/25/2026 8-K
The Company completed an approximately $372M refinancing of a term debt securitization.
NAV REITs
BROOKFIELD REAL ESTATE INCOME TRUST INC.
8/24/2026 8-K
The Adviser elected the issuance of unregistered Class I common shares for management fees payable in July 2026 pursuant to the advisory agreement. The Company also issued Class I and E common shares to feeder vehicles, Brookfield and its affiliates pursuant to its DRIP.
8/28/2026 8-K
The Company declared August 2026 distributions, payable on or about 9/21/26:
August July Gross Dist: $0.0593 $0.0591 Record Date: 8/28/26
COHEN & STEERS INCOME OPPORTUNITIES REIT, INC.
8/27/2026 8-K
The Company declared August 2026 distributions, payable on or about 9/22/26:
August July Gross Dist: $0.0435 $0.0435 Record Date: 8/31/26
COTTONWOOD COMMUNITIES, INC.
8/21/2026 8-K
The Company issued and sold shares of its 9/19/23 offering of Series A convertible preferred stock for aggregate proceeds of $2.6M.
NUVEEN GLOBAL CITIES REIT, INC.
8/21/2026 8-K
The Company declared July 2026 distributions, payable on or about 8/21/26:
July June Gross Dist: $0.06353773 $0.06316609 Record Date: 7/30/26
Private Placement REITs
CNL STRATEGIC RESIDENTIAL CREDIT, INC.
8/25/2026 8-K
The Company reported its July 2026 NAV per share:
July June Class FA: $24.51 $24.99 Class E: $25.09 $25.34
The Company declared August 2026 distributions, payable on or about 8/27/26:
August July Gross Dist: $0.166667 $0.166667 Record Date: 8/26/26
EXCHANGERIGHT INCOME FUND
8/25/2026 8-K
The Company declared July 2026 distributions, payable on or about 8/14/26:
July June Gross Dist: $0.1449 $0.1449 Record Date: 7/31/26
FIDELITY CORE REAL ESTATE FUND
8/26/2026 8-K Fact Sheet
The Company issued a fact sheet as of 7/31/26.
Closed-End Funds
A&Q MULTI-STRATEGY FUND (TENDER OFFER FUND)
8/24/2026 424B3
The Company filed an updated prospectus for its offering of Common shares.
CASCADE REAL ASSETS FUND (INTERVAL FUND)
8/26/2026 N-2/A
Type: Interval Fund
Primary: Unlimited - Class I Shares
The Company filed an amended prospectus. The fund intends to invest in equity or debt interests in physical assets, companies that own or operate real assets, or pooled investment vehicles such as private funds, special purpose vehicles, or joint ventures that invest in real estate, infrastructure, or other tangible or resource-based sectors.
CATALYST/PERINI STRATEGIC INCOME FUND (INTERVAL FUND)
8/26/2026 424B3
The Board approved the implementation of the Company’s shareholder services plan on 8/20/26, establishing a 0.25% shareholder servicing fee.
CION ARES DIVERSIFIED CREDIT FUND (INTERVAL FUND)
8/27/2026 424B3
The Company amended its State Street Credit Facility to increase total commitments from $300M to $450M, extend the maturity date from 8/31/26 to 7/31/28, increase the applicable interest rate from SOFR plus 1.25% to SOFR plus 1.35%, and modify certain concentration limits.
CITY NATIONAL ROCHDALE SELECT STRATEGIES FUND (INTERVAL FUND)
8/24/2026 424B3
The Board approved a new advisory agreement with ProShare Investment Management LLC and a new slate of Trustees, subject to shareholder approval and other closing conditions. In connection, RBC Rochdale and ProShares entered into an asset purchase agreement under which ProShares will acquire certain assets related to RBC Rochdale’s advisory business for the Company. If approved and the transaction closes, ProShares would become the Company’s Adviser, the new Trustees would replace the current Trustees, and the Company would be rebranded as a ProShares fund, with the changes expected in Q4’26.
DLP ACCESS FUND (INTERVAL FUND)
8/26/2026 N-2
Type: Interval Fund
Primary: Unlimited - Common Shares
The Company filed its initial prospectus. The fund intends to invest in a group of private investment vehicles sponsored by DLP Capital that invest in loans secured by, and equity interests in, income-producing and to-be-developed real estate assets focused on providing rental housing that is affordable to working households.
EVANSTON MULTI-ALPHA FUND (TENDER OFFER FUND)
8/25/2026 424B3
The Company filed an updated prospectus for its offering of Class A and I shares.
FUNDRISE INNOVATION FUND II, LLC (TENDER OFFER FUND)
8/24/2026 N-2/A
Type: Tender Offer Fund
Primary: Unlimited - Common Shares
The Company filed an amended prospectus. The fund intends to invest in private and public innovation companies, directly or indirectly, with a primary focus on the equity securities of certain privately held, mid-to-late-stage, growth companies or other investments that have economic characteristics similar to investments in innovation companies.
IRONWOOD INSTITUTIONAL MULTI-STRATEGY FUND LLC (TENDER OFFER FUND)
8/27/2026 N-2
Type: Tender Offer Fund
Primary: Unlimited - LLC Units
The Company filed an updated prospectus. The fund invests in underlying funds that utilize relative value strategies and other related strategies, such as non-directional or arbitrage-oriented investment strategies.
MUZINICH AVIATION INCOME FUND (MAIR) (INTERVAL FUND)
8/26/2026 EFFECT 424B3
Type: Interval Fund
Primary: Unlimited - Investor, Institutional, and Supra Institutional Class Shares
The Company’s offering went effective. The fund intends to invest in aviation-related debt instruments and securities.
OPPORTUNISTIC CREDIT INTERVAL FUND (INTERVAL FUND)
8/27/2026 424B3
The Company appointed Wilmington Savings Fund Society, FSB as an alternative custodian for certain Fund and subsidiary assets, while U.S. Bank N.A. continues to serve as the Company’s primary custodian.
ORIGIN REAL ESTATE CREDIT FUND (INTERVAL FUND)
8/27/2026 424B3
The Company filed an updated prospectus for its offering of Class A, E, I, and O shares.
PIMCO FLEXIBLE EMERGING MARKETS INCOME FUND (INTERVAL FUND)
8/21/2026 424B3
The Company reported several changes to go into effect on 10/30/26, including changing its name to PIMCO Flexible Emerging Markets and Income Fund and amending its 80% investment strategy to include emerging market instruments and/or income-producing investments.
POMONA INVESTMENT FUND (TENDER OFFER FUND)
8/24/2026 424B3
The Company filed an updated prospectus for its offering of Class A and I shares.
T. ROWE PRICE GOLDMAN SACHS ALL EQUITY ACCESS FUND (INTERVAL FUND)
8/27/2026 N-2/A
Type: Interval Fund
Primary: Unlimited - Class A, D, and I Shares
The Company filed an amended prospectus. The fund intends to invest in equity securities and equity-related investments, or underlying funds that invest predominantly in equity.
THIRD LAKE PARTNERS ALTERNATIVE YIELD STRATEGY FUND (INTERVAL FUND)
8/26/2026 N-2/A
Type: Interval Fund
Primary: Unlimited - Class F Shares
The Company filed an amended prospectus. The fund intends to invest in equity-linked structured notes.
Lifecycle REITs
PROCACCIANTI HOTEL REIT, INC.
8/27/2026 8-K
The Company is fulfilling approximately 3.0% of repurchase requests for Q2 2026 (1.3% in Q1 2026).
STRATEGIC STORAGE TRUST VI, INC.
8/26/2026 8-K Press Release
The Company issued a press release discussing its financial results for the three and six months ended 6/30/26.
STRATEGIC STUDENT & SENIOR HOUSING TRUST, INC.
8/25/2026 8-K Letter
The Company provided an update on its financial results for Q2 2026.
Other Alts
CNL STRATEGIC CAPITAL, LLC (OTHER)
8/24/2026 8-K 424B3
The Company reported its July 2026 NAV per share:
July June Class FA: $44.45 $44.34 Class A: $39.18 $39.14 Class T: $39.11 $39.06 Class D: $38.91 $38.87 Class I: $39.55 $39.50 Class S: $44.91 $44.81
The Company declared September 2026 distributions, payable on 9/28/26:
September August Gross Dist: $0.104167 $0.104167 Record Date: 9/25/26
REMORA CAPITAL CORP (PRIVATE PLACEMENT BDC)
8/27/2026 8-K Letter
The Company issued a shareholder letter for the quarter ended 6/30/26.
