At a glance
- For advisers, the term that governs a client's exit is the repurchase window.
- Ares Strategic Income Fund's third-quarter repurchase requests equaled 11.6% of the fund, according to an Oct. 1 report in this publication.
- Bloomberg reported that private credit keeps $14 billion trapped and that wealth managers are dropping the 'semi-liquid' label as clients push back.
Private-credit investors have asked to withdraw nearly $16 billion as managers use festival-style events and sports sponsorships to court wealth advisers, the Wall Street Journal reported in coverage Stanger summarized on Oct. 21.
For advisers, the term that governs a client's exit is the repurchase window. An adviser underwriting client liquidity on a scheduled window rather than a daily NAV is underwriting that queue.
Ares Strategic Income Fund's third-quarter repurchase requests equaled 11.6% of the fund, according to an Oct. 1 report in this publication. The SEC proposed looser interval-fund repurchase limits on Sept. 30.
Bloomberg reported that private credit keeps $14 billion trapped and that wealth managers are dropping the 'semi-liquid' label as clients push back. Bloomberg also reported that investors prefer being trapped to taking a 26% loss.
MT Newswires reported that BlackRock joined other BDCs in reporting lower redemption requests in the third quarter, a direction that cuts against the aggregate totals. FundFire reported that an SEC move to take BDC and REIT oversight from states stirred fierce debate. The nearer test is the third-quarter repurchase data sponsors are reporting now: BlackRock's lower requests point one way, the aggregate withdrawal figures the other.
For advisers, the term that governs a client's exit is the repurchase window.
Reported by the Distribution desk from Stanger Coverage and Interval Fund Daily archive. Published . Corrections