Semi-Liquid Funds: Growth, Fundraising Trends, and Adoption


The proliferation of semi-liquid fund structures has grown substantially over the past decade, as GPs have sought new ways to offer private markets to the wealth management channel.

Adoption has simultaneously increased from investors seeking exposure to private markets while maintaining operational and tax efficiency.

Where is the interest? Where are funds being raised and in which asset classes? Is there more innovation on the horizon?

This discussion sought to answer these questions, focusing on the data and trends found in popular fund vehicles such as interval funds, tender offer funds, business development companies, and non-traded REITs.