Private Placement Industry Insights as of November 30, 2021

Tuesday, December 14th, 2021 and is filed under Industry Reporting

We recently released our November Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

Despite continued weakness in energy and some of the real estate categories, November was another strong month for funds added to our coverage, driven primarily for the second month by additions to the tax strategies including 1031 exchanges and conservation funds. On a year-to-date basis, private equity/debt leads the way, followed by hedge funds and 1031s.
261 new funds have been added in 2021 making this a strong year and putting us well ahead in terms of new fund coverage (+54%) and aggregate target raise (+47%).
As of December 1st, AI Insight covers 234 private placements currently raising capital, with an aggregate target raise of $19.9 billion and an aggregate reported raise of $9.4 billion or 47% of target.
Real estate-related funds, including 1031s, Opportunity Zones, and non-1031 real estate LLCs/LPs and private REITs represent the largest component of our private placement coverage at 65% of funds and 67% of target raise. Private equity/debt funds represent 14% of funds and 17% of target raise, although this does include seven private market feeder funds that do not specify an offering target.
In terms of our coverage by general objective, income is the largest component at 58% of funds, while growth and growth & income follow at 26% and 16%, respectively.
The average size of the funds currently raising capital is $84.8 million, ranging from $5.0 million for a specified real estate fund to $1.1 billion for a private equity tender offer fund.
81% of private placements we cover use the 506(b) exemption, 12% use 506(c) and 7% have not yet filed their Form D with the SEC.
23 private placements closed to new investors in November and 197 have closed in 2021. Funds that closed this year have been on the market for an average of 331 days. The funds that reported, raised 89% of target. 86% met or exceeded their target and only ten funds that missed their target reported they raised less than half of the target.
ON DECK: there are 17 new private funds coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of November 30, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of October 31, 2021

Thursday, November 11th, 2021 and is filed under Industry Reporting

We recently released our October Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

Despite weakness in energy and some of the real estate categories, October was another strong month for funds added to our coverage, driven primarily by additions to the tax strategies including 1031 exchanges and conservation funds. On a year-to-date basis, private equity/debt leads the way, followed by hedge funds and 1031s.
227 new funds have been added in 2021 making this a strong year and putting us well ahead in terms of new fund coverage (+54%) and aggregate target raise (+43%).
As of November 1st, AI Insight covers 222 private placements currently raising capital, with an aggregate target raise of $19.3 billion and an aggregate reported raise of $8.3 billion or 43% of target.
Real estate-related funds, including 1031s, Opportunity Zones, and non-1031 real estate LLCs/LPs and private REITs represent the largest component of our private placement coverage at 66% of funds and 59% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 16% but represents 22% of target raise even with several funds in the category not reporting a target.
In terms of our coverage by general objective, income is the largest component at 55% of funds, while growth and growth & income follow at 29% and 16%, respectively.
The average size of the funds currently raising capital is $95.4 million, ranging from $5.0 million for a specified real estate fund to $1.1 billion for a private equity tender offer fund.
80% of private placements we cover use the 506(b) exemption, 13% use 506(c) and 8% have not yet filed their Form D with the SEC.
21 private placements closed to new investors in September and 174 have closed in 2021. Funds that closed this year have been on the market for an average of 315 days. The funds that reported raised 93% of target. 81% met or exceeded their target and only seven funds that missed their target reported that they raised less than half of the target.
ON DECK: there are 13 new private funds coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of October 31, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of September 30, 2021

Tuesday, October 12th, 2021 and is filed under Industry Reporting

We recently released our September Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

Despite weakness in some of the real estate categories, September was another strong month for funds added to our coverage, driven primarily by additions to the hedge fund and 1031 categories. On a year-to-date basis, private equity/debt leads the way, followed by hedge funds and 1031s.
197 new funds have been added in 2021 making this a strong year and putting us well ahead in terms of new fund coverage (+63%) and aggregate target raise (+75%).
As of October 1st, AI Insight covers 213 private placements currently raising capital, with an aggregate target raise of $19.5 billion and an aggregate reported raise of $8.2 billion or 42% of target.
Real estate-related funds, including 1031s, Opportunity Zones, and non-1031 real estate LLCs/LPs and private REITs represent the largest component of our private placement coverage, at 68% of funds and 62% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 15% but represents 22% of target raise even with several funds in the category not reporting a target.
In terms of our coverage by general objective, income is the largest component at 54% of funds, while growth and growth & income follow at 30% and 15%, respectively.
The average size of the funds currently raising capital is $95.4 million, ranging from $5.0 million for a specified real estate fund to $1.1 billion for a private equity tender offer fund.
79% of private placements we cover use the 506(b) exemption, 13% use 506(c) and 9% have not yet filed their Form D with the SEC.

18 private placements closed to new investors in September and 153 have closed in 2021. Funds that closed this year have been on the market for an average of 315 days. The funds that reported raised 92% of target. 84% met or exceeded their target and only eight funds that missed their target reported that they raised less than half of target.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of September 30, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of August 31, 2021

Wednesday, September 15th, 2021 and is filed under Industry Reporting

We recently released our August Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

Despite a slowdown in 1031 activity, August was another strong month for funds added to our coverage. Private equity/debt, hedge funds, 1031s, and conservation funds have driven growth year-to-date, while opportunity zone activity is the only negative.
178 new funds have been added in 2021 making this a strong year and putting us well ahead in terms of new fund coverage (+75%) and aggregate target raise (+109%).
As of September 1st, AI Insight covers 208 private placements currently raising capital, with an aggregate target raise of $19.7 billion and an aggregate reported raise of $8.5 billion or 43% of target.
Real estate-related funds, including 1031s, Opportunity Zones, and non-1031 real estate LLCs and LPs represent the largest component of our private placement coverage, at 68% of funds and 61% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 16% but represents 28% of target raise even with several funds in the category not reporting a target.
In terms of our coverage by general objective, income is the largest component at 54% of funds, while growth and growth & income follow at 29% and 17%, respectively.
The average size of the funds currently raising capital is $95.5 million, ranging from $1.8 million for a specified private equity fund to $1.2 billion for a larger blind pool private equity fund. Seven funds do not report a target or current capital raise.
82% of private placements we cover use the 506(b) exemption, 14% use 506(c) and 4% have not yet filed their Form D with the SEC.
24 private placements closed to new investors in August and 141 have closed in 2021. Funds that closed this year have been on the market for an average of 339 days. The funds that reported raised 90% of target. 84% met or exceeded their target and only eight funds that missed their target raised less than half of target.
ON DECK: there are four new private placements coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of August 31, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of July 31, 2021

Thursday, August 12th, 2021 and is filed under Industry Reporting

We recently released our July Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

May and June were big months in terms of new funds added to our coverage. July is no exception and is a record, with 29 new funds added. 1031 exchanges, hedge funds, and private equity/debt offerings led the way and we have seen a ramp up in non-tax focused real estate offerings as well. Energy and Opportunity Zones are slow this year, while preferred and conservation offerings are flat. President Biden’s proposal to reduce the deferral of gains under section 1031 to a maximum of $500,000, for those transactions completed in tax years prior to December 31, 2021, may be contributing to an increase in this category prior to any changes, something that we continue to watch as it could have an impact on future fund formation.
150 new funds have been added in 2021 making this a strong year and putting us well ahead in terms of new fund coverage (+69%) and aggregate target raise (+83%).
As of August 1st, AI Insight covers 204 private placements currently raising capital, with an aggregate target raise of $19.3 billion and an aggregate reported raise of $7.8 billion or 40% of target.
Real estate-related funds, including 1031s, Opportunity Zones, and non-1031 real estate LLCs and LPs represent the largest component of our private placement coverage, at 70% of funds and 62% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 16% but represents 27% of target raise even with several funds in the category not reporting a target.
In terms of our coverage by general objective, income is the largest component at 54% of funds, while growth and growth & income follow at 27% and 19%, respectively.
The average size of the funds currently raising capital is $94.8 million, ranging from $1.8 million for a specified private equity fund to $1.1 billion for a larger blind pool private equity fund. Seven funds do not report a target or current capital raise.
82% of private placements we cover use the 506(b) exemption, 14% use 506(c) and 4% have not yet filed their Form D with the SEC.
18 private placements closed to new investors in July and 118 have closed in 2021. Funds that closed this year have been on the market for an average of 339 days. The funds that reported, raised 93% of target. 84% met or exceeded their target and only six funds that missed their target raised less than half of target.
ON DECK: there are six new private placements coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of July 31, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of June 30, 2021

Wednesday, July 14th, 2021 and is filed under Industry Reporting

We recently released our June Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

The last two months were big months in terms of new funds added to our coverage, with 21 funds added each month compared to 13 in April. Energy, Opportunity Zones, and real estate 1031 exchanges led the way in terms of new fund formation, and we are seeing continued strength in private equity/debt offerings. President Biden’s proposal to reduce or eliminate section 1031 exchanges may be contributing to an increase in this category prior to any changes, something that we continue to watch as it could have an impact on future fund formation. iCapital’s Chief Investment Strategist, Anastasia Amoroso, sees growth in private markets and real estate through 2H, which aligns with the growth we’ve seen in the real estate and private equity/debt categories.
121 new funds have been added in the first half of 2021 making this a strong year and putting us ahead in terms of new fund coverage (+59%) and aggregate target raise (+102%).
As of July 1st, AI Insight covers 192 private placements currently raising capital, with an aggregate target raise of $18.8 billion and an aggregate reported raise of $7.7 billion or 41% of target.
Real estate-related funds, including 1031s, Opportunity Zones, and non-1031 real estate LLCs and LPs represent the largest component of our private placement coverage, at 67% of funds and 60% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 18%, but represents more than 28% of target raise even with several funds in the category not reporting a target.
In terms of our coverage by general objective, income is the largest component at 52% of funds, while growth and growth & income follow at 27% and 20%, respectively.
The average size of the funds currently raising capital is $97.8 million, ranging from $1.8 million for a specified private equity fund to $1.1 billion for a larger blind pool private equity fund. Eight funds do not report a target or current capital raise.
82% of private placements we cover use the 506(b) exemption, 13% use 506(c) and 4% have not yet filed their Form D with the SEC.
18 private placements closed to new investors in June and 100 have closed in 2021. Funds that closed this year have been on the market for an average of 357 days. The funds that reported, raised 88% of target. 86% met or exceeded their target and only two funds that closed raised less than half of their target.
ON DECK: there are three new private placements coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of June 30, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of May 31, 2021

Wednesday, June 23rd, 2021 and is filed under Industry Reporting

We recently released our May Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

May was a big month in terms of coverage on the AI Insight platform. 21 new funds were added during the month compared to just 13 in April. Real estate activity picked up after a slow start to the year, and new funds were added for the first time this year in the energy and conservation categories.
100 new funds have been added this year, putting us ahead in terms of new fund coverage (+54%) and aggregate target raise (+82%).
As of June 1st, AI Insight covers 192 private placements currently raising capital, with an aggregate target raise of $17.7 billion and an aggregate reported raise of $7.3 billion or 41% of target.
Real estate-related funds, including 1031s, opportunity zones, and non-1031 real estate LLCs and LPs represent the largest component of our private placement coverage, at 70% of funds and 63% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 18%, but represents more than 30% of target raise even with several funds in the category not reporting a target.
In terms of our coverage by general objective, income is the largest component at 51% of funds, while growth and growth & income follow at 28% and 19%, respectively.
The average size of the funds currently raising capital is $97.3 million, ranging from $1.8 million for a specified private equity offering to $1.1 billion for a larger blind pool private equity offering. Eight funds do not report a target or current capital raise.
83% of private placements we cover use the 506(b) exemption, 13% use 506(c) and 5% have not yet filed their Form D with the SEC.
20 private placements closed to new investors in May and 81 have closed in 2021. Funds that closed this year have been on the market for an average of 346 days. The funds that reported, raised 92% of target. 86% met or exceeded their target and only two funds that closed raised less than half of their target.
ON DECK: there are seven new private placements coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of May 31, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of April 30, 2021

Wednesday, June 23rd, 2021 and is filed under Industry Reporting

We recently released our April Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

April was the slowest month of the year in terms of private placement fund activity but historically this is the case as well. The 13 funds added during the month was less than half the 28 added in March but is three funds more than April 2020 – which was one of our slowest months ever as the pandemic had started to impact the markets.
79 new funds have been added this year, putting us ahead in terms of new fund coverage (+36%) and aggregate target raise (+44%). Real estate categories have slowed, while our coverage of private equity/debt and hedge funds has increased.
As of May 1st, AI Insight covers 194 private placements currently raising capital, with an aggregate target raise of $20.5 billion and an aggregate reported raise of $10.1 billion or 49% of target.
Despite a slowdown recently, real estate-related funds, including 1031s, opportunity zones, and non-1031 real estate LLCs and LPs represent the largest component of our private placement coverage, at 69% of funds and 55% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 17%. However, our acquisition by iCapital is allowing us to enhance our coverage of private equity and debt more than ever before.
In terms of our coverage by general objective, income is the largest component at 49% of funds, while growth and growth & income follow at 30% and 21%, respectively.
The average size of the funds currently raising capital is $105.5 million, ranging from $1.8 million for a specified private equity offering to $3.1 billion for a sector specific private BDC. Six funds do not report a target or current capital raise.
85% of private placements we cover use the 506(b) exemption, 12% use 506(c) and 3% have not yet filed their Form D with the SEC.
17 private placements closed to new investors in April and 59 have closed in 2021. Funds that closed this year have been on the market for an average of 352 days. The funds that reported raised 92% of target. 86% met or exceeded their target and only two funds that closed raised less than half of their target.
ON DECK: there are nine new private placements coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of April 30, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of March 31, 2021

Friday, April 16th, 2021 and is filed under Industry Reporting

We recently released our March Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

Private placement fund formation picked up significantly in March, with 28 new funds added compared to 17 in February. 66 new funds have been added this year, putting us ahead in terms of new fund coverage (+38%) and aggregate target raise (+32%). Real estate categories have slowed other than 1031s, while our coverage of private equity/debt and hedge funds has increased.
As of April 1st, AI Insight covers 195 private placements currently raising capital, with an aggregate target raise of $19.6 billion and an aggregate reported raise of $9.4 billion or 48% of target.
Despite a slowdown recently, real estate-related funds, including 1031s, opportunity zones, and non-1031 real estate LLCs and LPs represent the largest component of our private placement coverage, at 71% of funds and 57% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 15%. However, our acquisition by iCapital is allowing us to enhance our coverage of private equity and debt with more coverage than ever before.
In terms of our coverage by general objective, income is the largest component at 52% of funds, while growth and growth & income follow at 26% and 21%, respectively.
The average size of the funds currently raising capital is $100.4 million, ranging from $1.8 million for a specified private equity offering to $3.0 billion for a sector specific private BDC.
76% of private placements we cover use the 506(b) exemption, 12% use 506(c) and 12% have not yet filed their Form D with the SEC.
17 private placements closed in March and 41 have closed in 2021. Funds that closed this year have been on the market for an average of 303 days. The funds that reported raised 92% of target. 98% met or exceeded their target and only two funds that closed raised less than half of their target.
ON DECK: there are eight new private placements coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of March 31, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of January 31, 2021

Friday, February 19th, 2021 and is filed under Industry Reporting

We recently released our January Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

While there was little to no activity in several categories in January, real estate and private equity/debt funds rallied to bring year-over-year new fund coverage and aggregate target raise up significantly (24% and 62%, respectively).
As of February 1st, AI Insight covers 177 private placements currently raising capital, with an aggregate target raise of $17.8 billion and an aggregate reported raise of $8.6 billion or 49% of target.
Real estate-related funds, including 1031s, opportunity zones, and non-1031 real estate LLCs and LPs represent the largest component of our private placement coverage, at 75% of funds and 59% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 11%, but tend to be larger and represent 33% of aggregate target raise.
In terms of our coverage by general objective, income is the largest component at 52% of funds, while growth and growth & income follow at 30% and 16%, respectively.
The average size of the funds currently raising capital is $100.5 million, ranging from $1.9 million for a preferred offering to $3.0 billion for a sector specific private equity/debt fund.
78% of private placements we cover use the 506(b) exemption, 12% use 506(c) and 10% have not yet filed their Form D with the SEC.
14 private placements closed in January, having been on the market for an average of 300 days. The 12 funds that reported a raise reported that they raised 73% of target. 64% met or exceeded their target and only one raised less than half of its target.
ON DECK: as of February 1st, there were eleven new private placements coming soon.

For illustrative purposes only.

Access the full Private Placements report and other hard-to-find alts data

AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, Non-Traded BDCs, Interval Funds, and Alternative Strategy Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews.

Log in or subscribe to AI Insight to further research, sort, compare, and analyze all of the private and public funds in our coverage universe. See who’s new in the industry and what trends are impacting the alts space.

_________________________________

Chart and data as of January 31, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose.

This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed, and iCapital Network assumes no liability for the information provided.

Products offered by iCapital Network are typically private placements that are sold only to qualified clients of iCapital Network through transactions that are exempt from registration under the Securities Act of 1933 pursuant to Rule 506(b) of Regulation D promulgated thereunder (“Private Placements”). An investment in any product issued pursuant to a Private Placement, such as the funds described, entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. Further, such investments are not subject to the same levels of regulatory scrutiny as publicly listed investments, and as a result, investors may have access to significantly less information than they can access with respect to publicly listed investments. Prospective investors should also note that investments in the products described involve long lock-ups and do not provide investors with liquidity.

Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. (d/b/a iCapital Network). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.

Private Placement Industry Insights as of November 30, 2021

Private Placement Industry Insights as of October 31, 2021

Private Placement Industry Insights as of September 30, 2021

Private Placement Industry Insights as of August 31, 2021

Private Placement Industry Insights as of July 31, 2021

Private Placement Industry Insights as of June 30, 2021

Private Placement Industry Insights as of May 31, 2021

Private Placement Industry Insights as of April 30, 2021

Private Placement Industry Insights as of March 31, 2021

Private Placement Industry Insights as of January 31, 2021

Chart and data as of January 31, 2021, based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

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