Former Non-Traded BDCs Continue Through Public Listing Process
This past week, Blue Owl Capital Corporation III (OBDE) and Morgan Stanley Direct Lending Fund (MSDL), both formerly nontraded BDCs,...
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Focus
Our singular focus is to find the best candidate for the opportunity within segments of the financial marketplace that we understand.
Our broad network enables us to execute highly customized, confidential, and comprehensive placements.
Focus
Our singular focus is to find the best candidate for the opportunity within segments of the financial marketplace that we understand.
Our broad network enables us to execute highly customized, confidential, and comprehensive placements.
Secondaries Liquidity
Aug 11 min read
Bloomberg: Private Credit Sells Funds for Small Investors as Big Ones Balk
As market volatility returns, all eyes are on interval funds. In John Sage 's most recent Bloomberg article, our CEO John Cox , and...
Jun 191 min read
Is Gating Becoming the Norm?
Perpetual REITs and BDCs were developed, in part, to address the illiquidity of non-traded Lifecycle Funds. Interestingly, their...
May 153 min read
Secondary Liquidity: It's Good to Have Options
There will never be a perfectly liquid fund structure for illiquid asset classes. Illiquid and semi-liquid fund structures have numerous...
Sep 29, 20231 min read
How Traded Market Volatility Can Impact Secondary Pricing
Increased volatility in liquid markets tends to affect secondary market prices before third party tender offer prices, which can produce...
Sep 11, 20231 min read
Semi-Liquid Alts Continue to Grow: Need for Liquidity Remains
As the alternatives marketplace continues to expand, interval funds are playing a driving role in the growth and adoption of semi-liquid...
May 11, 20231 min read
Secondary Market Liquidity Provider Diversity
The secondary market for retail alternatives is growing. We are seeing more diversity among liquidity providers and the data shows that...
May 3, 20231 min read
Liquidity Program Utilization Heats Up
Based our our analysis, liquidity program utilization is increasing across a broader set of nontraded funds that are yet to be...
Dec 14, 20221 min read
Demystify Non-Traded Investments: PPB Capital Partners
Frank Burke and Anton Golding of PPB Capital Partners recently published a thoughtful article regarding the liquidity and transparency of...
Aug 5, 20221 min read
Oversubscribed Repurchase Programs Persist
The trend continues. Recent nontraded #BDC share repurchase programs have been unable to meet shareholder demand for liquidity. Cox...
Jul 25, 20221 min read
Secondary Market Pricing Looms Over 3rd Party Tenders
As expected, recent market volatility has influenced the secondary market for illiquid assets. However, prices offered by firms that...
Jun 16, 20221 min read
Consider Price vs. Value Amid Volatility
It's important to consider price vs. value in nontraded alternatives during periods of market volatility. Detailed below are some...
May 18, 20221 min read
The Correlation Between Illiquidity and Volatility
Traded markets don't always mean liquid markets.
May 5, 20221 min read
Fund Liquidity Depends on Vintage
Fund liquidity, specifically for nontraded alternative investment funds, depends on when the vehicle was launched. Early vintages...
Apr 19, 20221 min read
Navigating a Secondary Transaction
As the premier liquidity provider for retail alternative investments, one of Cox Capital’s primary goals is to provide an efficient and...
Apr 12, 20221 min read
How Do You Value a BDC?
While there are a number of factors to consider, management structure is arguably one of the most important. Internally managed BDCs...
Apr 6, 20221 min read
CION Public Listing - Phase 2
This week, the second unlisted tranche of CION shares becomes tradable on the NYSE. The 16% pullback from Friday raises questions about...
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