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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
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Oct 24, 20241 min read
Where are they now? Former Nontraded REITs Recover Post-Listing Price Declines
"Where are they now?" - Formerly nontraded REITs American Healthcare REIT (AHR) and Sila Realty Trust (SILA) have made meaningful price...
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Oct 24, 20241 min read
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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Aug 1, 20241 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...
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Jun 19, 20241 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...
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Jun 6, 20241 min read
WSJ Intelligent Investor: The Investing Boom That's Squeezing Some People Dry
In this week's Intelligent Investor column, our CEO John Cox shares his secondary market insights with The Wall Street Journal's Jason...
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May 16, 20241 min read
Cox Capital Announces Extension Date for Tender Offer of Franklin BSP Capital Corp.
Cox Capital Partners announced on Friday, May 17, 2024, that it has extended the expiration date for the Mini-Tender Offer for...
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May 15, 20243 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...
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Mar 27, 20241 min read
Blue Owl Capital Corp. II: Repurchase Requests Jump Up
Blue Owl Capital Corp. II's share repurchase program is once again under pressure. The $2 billion Blue Owl BDC had to increase the size...
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Mar 17, 20241 min read
American Healthcare REIT: Comrit Decreases Tender Price
Comrit has lowered their bid for American Healthcare REIT (NYSE: AHR) from $13.15 to $5.23 according to an 8-K filed by the newly listed...
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Mar 11, 20241 min read
Carlyle Credit Solutions BDC Puts Up the Gate
Demand for liquidity in The Carlyle Group's private BDC, Carlyle Credit Solutions, Inc. (formerly TCG BDC II, Inc.), exploded in Q4 2023....
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Feb 29, 20241 min read
InvestmentNews: REIT sales tank, BDCs roll at start of 2024: Report
Non-traded REIT sales see a significant decline in early 2024, prompting investors to turn to business development companies for higher...
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Feb 16, 20241 min read
Guess the Fund: Interval Fund Liquidity Program Utilization
Can you guess which credit focused interval fund this is? In this instance, the volume of tendered shares is increasing faster than the...
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Jan 26, 20241 min read
Blue Owl BDCs Continue to Meet Liquidity Requests
In light of this week's Blue Owl Capital Corp. III listing, we're checking in on Blue Owl Capital's three nontraded tender offer funds....
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Jan 22, 20241 min read
KKR Real Estate Select Trust Prorates Redemption Requests
KKR Real Estate Select Trust is once again unable to meet shareholders' demand for liquidity. In the most recent two quarters, $KREST has...
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Jan 18, 20241 min read
Publicly-Traded BDCs and Upcoming Listings
The mix of large ($3B+) traded BDCs is likely to experience significant changes in 2024 as private and non-traded BDCs begin trading on...
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Dec 6, 20231 min read
WSJ Article feat. John Cox: What's a Real Estate Fund Worth?
Article by Jonathan Weil, WSJ “A lot of our business is based on explaining why NAV is not an indication of fair market value.” In...
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Nov 27, 20231 min read
DI Wire: Alternative Investment Fundraising Update
Current fundraising and redemption trends highlight the need for expanding secondary market liquidity options both now and as newer...
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Oct 24, 20231 min read
BREIT: Third Party Tender Offer
Mackenzie Capital has launched a third party tender offer for Blackstone Real Estate Income Trust #BREIT. BREIT investors who are...
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Oct 1, 20231 min read
Looking Back: Secondary Market Pricing TTM
Over the past twelve months, non-traded asset prices have generally traded down - with AR Global's Healthcare Trust falling nearly 47% in...
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Sep 30, 20231 min read
Blue Owl Capital Corp II: Liquidity Program Improvements
Blue Owl Capital Corp. II has seen a drop in share repurchase program utilization for the first time in three years. It is also the first...
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