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WealthManagement.com Covers Interval Fund Market Growth and Sources XA Investments’ Research

David Bodamer, the editor of WealthManagement.com, identifies three different sources for interval fund market statistics and growth projections. The interval fund market has seen significant growth, with a combined net asset value (NAV) of $86.4 billion as of mid-2024, reflecting a 10.9% increase this year, according to Robert A. Stanger & Co. Morningstar reports $80.7 billion in assets under management for 100 interval funds.

The article highlights XA Investments’ research from the monthly market update which states that the non-listed closed-end fund market (comprised of interval and tender offer funds) consists of 110 interval funds with $101.6 billion in managed assets. By June 30, there were 230 effective funds with $150 billion in net assets, projected to rise to 235-255 funds by year-end, reaching $160-$175 billion in net assets. While the interval fund market faced challenges in 2023 due to outflows from real estate funds, credit and private equity segments have experienced growth. There are currently 50 funds in the SEC registration process, indicating potential for market expansion.

Stanger also reported how Cliffwater LLC has become the market leader, managing two private credit-based interval funds that represent nearly 25% of all interval fund assets. In 2024, Cliffwater raised $4.9 billion, accounting for 43% of the sector’s fundraising. As the market evolves, infrastructure-focused funds are also gaining traction, with gross sales surpassing $144 million year-to-date.

Overall, the interval fund market is poised for significant growth in 2024, driven by strong performance in alternative investments.

To read the full article, please click here.

For more information on interval funds, please visit our CEF Market Research page. Click ‘Subscribe’ for access to XAI’s new online research portal and pricing info. The in-depth XA Investments Quarterly Market Updates for Non-Listed CEFs and Listed CEFs provide actionable insights and consolidated data, including market statistics, IPOs, recent fund filings, sponsor data, and market overview information.

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