Wednesday, September 2nd, 2020 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.
- Private placement fund activity remained steady in August. However, our coverage remains down year-over-year after an anemic spring.
- Thirteen new funds were added to our coverage in August, on par with the last couple of months but well below the 20 or more funds added each month in 2019. Our coverage is down 10.53% in terms of new funds added year-over year, and 28.26% in terms of the aggregate target raise. Fewer funds have been added and they’ve been targeting less capital.
- As of September 1st, AI Insight covers 169 private placements currently raising capital, with an aggregate target raise of $16.4 billion and an aggregate reported raise of $8.3 billion or 51% 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 73% 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 9%, but tend to be larger and represent 28% 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 29% and 18%, respectively.
- The average size of the funds currently raising capital is $96.9 million, ranging from $3.5 million for a single asset real estate fund to $2.8 billion for a sector specific private equity/debt fund.
- 76% of private placements we cover use the 506(b) exemption, 15% use 506(c) and 10% have not yet filed their Form D with the SEC.
- 12 private placements closed in August, having raised approximately 57% of their target and having been on the market for an average of 292 days. 109 funds have closed in 2020, having raised 64% of their target. 67% of funds that closed this year met or exceeded their target.
- Five private placements suspended offerings and one terminated due to uncertainties related to Covid-19.
- ON DECK: as of September 1st, there were four new private placements coming soon.
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, 2020, 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. Copyright ©2020 AI Insight. All Rights Reserved.
Monday, July 6th, 2020 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.
- After a slow couple of months, private placement fund formation accelerated in June, led by stronger activity in 1031s and the addition of distressed funds in the wake of the COVID-19 market disruption.
- As of July 1st, AI Insight covers 171 private placements currently raising capital, with an aggregate target raise of $16.6 billion and an aggregate reported raise of $8.4 billion or 51% of target. The average size of the current funds is $97.1 million, ranging from $3.5 million for a single asset real estate fund to $2.7 billion for a sector specific private equity/debt fund.
- 13 private placements closed in June, having raised approximately 65% of their target and having been on the market for an average of 408 days. 88 funds have closed in 2020, having raised 67% of their target.
- Five private placements suspended offerings and one terminated due to uncertainties related to COVID-19.
- ON DECK: as of July 1st, there were three new private placements coming soon, all opportunity zone funds (QOZs) as the category ramps back up with further regulatory guidance.
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, BDCs, Interval Funds, and Alternative 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, 2020, 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. Copyright ©2020 AI Insight. All Rights Reserved.
Monday, June 8th, 2020 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.
- Private placement fund formation has slowed in the wake of COVID-19. Eight new private placements were added to our coverage in May, roughly half of the monthly level we’ve seen on average over the last few years. The first few months of 2020 were strong but with the slowdown in May, we are now flat in terms of new funds added to over coverage year-over-year and down modestly in aggregate target raise.
- The slowdown was most visible in the 1031 category, where only four new funds were added to our coverage in May compared to well over double digit additions for the last several years. This may be partially due to a slowdown in real estate transactions overall as well as a lack of confidence in valuations. Also, fewer highly appreciated properties are being sold right now, which reduces the demand for 1031 exchanges at least in the near-term. The consensus in the industry is that demand will accelerate once transaction activity resumes and valuations are more reliable.
- We are seeing more activity this year in preferred securities and private equity/debt funds, and we are also starting to see sector-specific opportunistic funds ramp up in the wake of the COVID-19 market disruption. Opportunity zone (QOZ) funds, which had paused for several months, are back on track with three in the queue to be added to our coverage soon. Recent events around the US could continue to highlight the importance of QOZ strategies.
- As of June 1st, AI Insight covers 171 private placements currently raising capital, with an aggregate target raise of $16.6 billion and an aggregate reported raise of $8.3 billion or 50% of target. The average size of the current funds is $97.0 million, ranging from $3.5 million for a single asset real estate fund to $2.7 billion for a sector specific private equity/debt fund.
- 14 private placements closed in May, having raised approximately 52% of their target and having been on the market for an average of 336 days.
- Five private placements suspended offerings due to uncertainties related to COVID-19.
- ON DECK: as of June 1st, there were four new private placements coming soon.
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, BDCs, Closed-End Funds, and Alternative 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, 2020, 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. Copyright ©2020 AI Insight. All Rights Reserved.
Thursday, May 7th, 2020 and is filed under Industry Reporting
We recently released our April Private Placement Insights. 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.
- 10 new private placements were added to our coverage in April, ahead of last year’s levels on a YTD basis but below the last couple of months. The industry is still led by real estate funds including 1031s and real estate LPs and LLCs, although 1031s have slowed significantly.
- As of May 1st, AI Insight covers 177 private placements currently raising capital, with an aggregate target raise of $17.1 billion and an aggregate reported raise of $8.4 billion or 49% of target. The average size of the current funds is $96.7 million, ranging from $3.5 million for a single asset real estate fund to $2.5 billion for a sector specific private equity/debt fund.
- 12 private placements closed in April, having raised approximately 63% of their target and having been on the market for an average of 422 days. Two private placements suspended offerings due to uncertainties related to COVID-19.
- ON DECK: as of May 1st, there were three new private placements coming soon.
Private Market Update: COVID-19
- According to a recent report by Preqin, COVID-19 has disrupted the private capital markets significantly across all categories.
- Fewer private equity funds met their target fundraising goals and were able to close in Q1 versus prior quarters. Many had established high fundraising targets prior to COVID-19.
- Private equity fundraising was actually up year-over-year, with the largest and most established funds securing the majority of capital raised.
- Fewer private equity transactions were completed as managers held off on M&A activity anticipating that asset prices would fall in a recession.
- The level of dry powder in the private equity industry is at a record $1.4 trillion as of April 2020. Additionally, 2019 vintage funds, which were originally projected to underperform prior vintages, are now more likely to outperform given the drop in asset prices.
- Private debt fundraising declined in Q1. Direct lending and special situations funds accounted for the majority of fundraising within the category.
- Private real estate fundraising fell in Q1 2020. Managers raised $81 billion from 51 funds versus $51 billion from 83 funds in Q1 2019.
- Private real estate transactions also declined year-over-year, with 1,797 deals completed in Q1 2020 compared to 2,417 deals in Q1 2019.
- Within the real assets category, infrastructure and natural resource fundraising actually increased, and the volume of infrastructure transactions was in line with the prior year. Energy slowed significantly, while social infrastructure sectors such as telecom actually saw increases in fundraising and deal activity.
- Hedge fund launches have stalled from prior months, especially in the equity strategy sector. This makes sense given the recent downturn, although most hedge fund categories performed as expected. The Preqin All Strategies Hedge Fund benchmark declined 10.38% in Q1 2020, compared to the 20% loss in the S&P 500 Index.
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, BDCs, Closed-End Funds, and Alternative 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, 2020, 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. Copyright ©2020 AI Insight. All Rights Reserved.
Tuesday, February 11th, 2020 and is filed under Industry Reporting
We recently released our January Private Placement Insights. See the highlights from the report below, or if you are a subscriber, log in now to see the entire report.
- 17 new private placements were added to our coverage in January, less than December’s record month, but higher on a year-over-year basis. The industry is again being led by 1031 exchanges, although target raise is higher than last year in all but one category.
- As of February 1st, AI Insight covers 179 private placements currently raising capital, with an aggregate target raise of $16.5 billion and an aggregate reported raise of $8.1 billion or 49% of target. The average size of the current funds is $92.1 million, ranging from $3.4 million for a single asset real estate fund to $2.2 billion for a sector specific private equity/debt fund.
- 13 private placements closed in January, having raised approximately 96% of their target.
- ON DECK: as of February 1st, there were 11 new private placements coming soon.
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, BDCs, Closed-End Funds, and Alternative 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 Jan. 31, 2020, 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. Copyright ©2020 AI Insight. All Rights Reserved.
Friday, November 8th, 2019 and is filed under AI Insight News
We recently released our October Private Placement Insights. Highlights from the report include:
- October private placement activity picked up after a slow September, primarily in the 1031 category.
- Our overall private placement coverage is up year-over-year in terms of new fund coverage and aggregate target raise, led primarily by 1031s and Opportunity Zones, while most other categories remain below last year’s levels.
- Our coverage of hedge funds and managed futures has not expanded in 2019. We discussed this in our September Private Placements podcast. We believe the minimal activity in the hedging and futures space can be attributable to a few factors. One is that funds and fund-of-funds used by many retail firms tend to be larger with a perpetual life that have been around for many years and used as needed. Allocations to hedging and futures strategies also tend to be smaller in the retail channel than the institutional side, so fewer options are available and many use liquid alternatives for these allocations, where we have seen a lot of growth and increased coverage in recent years. Additionally, the strong equity market over the last decade has minimized the focus on hedging and futures strategies.
- As of November 1st, AI Insight covers 171 private placements currently raising capital, with an aggregate target raise of $16.2 billion and an aggregate reported raise of $7.6 billion or 46.9% of target. This includes the 147 private placements added to our coverage in 2019.
- As of November 1st, 111 private placements have closed year-to-date which raised approximately 86% of their target raise. While there are still two months remaining, funds this year have come closer to their targets than last year, when the 160 private placements that closed in FY 2018 raised approximately 63% of their target.
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, BDCs, Closed-End Funds, and Alternative 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 Oct. 31, 2019, 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. Copyright © 2019 AI Insight. All Rights Reserved.
Monday, October 14th, 2019 and is filed under AI Insight News
We recently released our September Private Placement Insights. Highlights from the report include:
- September private placement fund formation was the slowest of the year, coming off of a strong August.
- Given the slower pace in September, our private placement coverage is essentially flat year-over-year, with all categories down in terms of new fund coverage and target raise except 1031 exchanges and Opportunity Zone funds.
- As of September 30th, AI Insight covers 155 private placements that are currently raising capital, with an aggregate target raise of $15.9 billion and an aggregate reported raise of $7.7 billion or 51.5% of target. This includes the 120 private placements added to our coverage in 2019.
- As of September 30th, 87 private placements have closed year-to-date which raised approximately 92% of their target raise, compared to 160 private placements that closed in FY 2018 which raised approximately 63% of their target.
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.
AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, BDCs, Closed-End Funds, and Alternative Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews. Click here to request a sample report.
Watch this tour or request a live demo of AI Insight’s expansive Industry Reports customized to your business needs.
_________________________________
Chart and data as of Sept. 30, 2019, 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. Copyright © 2019 AI Insight. All Rights Reserved.
Wednesday, September 18th, 2019 and is filed under AI Insight News
We recently released our August Private Placement Insights. Highlights from the report include:
- As of August 31st, AI Insight covers 164 private placements that are currently raising capital, with an aggregate target raise of $11.5 billion and an aggregate reported raise of $7.3 billion. This includes the 114 private placement funds added to our coverage in 2019.
- 1031 exchanges continue to expand. This is understandable given the long-term run in commercial real estate prices, as investors look to capture gains and defer taxes.
- There were 10 new 1031s added to our coverage in August, with an aggregate target raise of $339.4 million. This is higher than the prior month, and the category remains ahead YoY in terms of new fund formations and aggregate target raise.
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.
AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, BDCs, Closed-End Funds, and Alternative Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews. Click here to request a sample report.
Watch this tour or request a live demo of AI Insight’s expansive Industry Reports customized to your business needs.
_________________________________
Chart and data as of August 31, 2019, 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. Copyright © 2019 AI Insight. All Rights Reserved.
Thursday, August 15th, 2019 and is filed under AI Insight News
We recently released our July Private Placement Insights. Highlights from the report include:
- AI Insight added 14 new private placements added to our coverage in July.
- This included one new Conservation Easement, the first one added this year.
- This niche strategy is down for the year, along with energy and preferred offerings strategies.
- Conservation Easements have been in somewhat of a hold period due to heightened IRS scrutiny of the appraisal methods used to calculate deductions, as well as the uncertainty over the allegations against one of the industry’s largest sponsors.
- ON DECK: As of August 8th, there is one more conservation easement program coming soon, offered by the same sponsor as the first.
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.
AI Insight’s Industry Reporting capabilities help you review alternative investment trends and historical market data for Private Placements, Non-Traded REITs, BDCs, Closed-End Funds, and Alternative Mutual Funds. Receive up to 24 extensive reports per year to help broaden your alternative investment reviews. Click here to request a sample report.
Watch this tour or request a live demo of AI Insight’s expansive Industry Reports customized to your business needs.
_________________________________
Chart and data as of July 31, 2019, 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. Copyright © 2019 AI Insight. All Rights Reserved.
Wednesday, January 2nd, 2019 and is filed under AI Insight News
- Seven conservation easement programs activated on the AI Insight platform in November for a total of $78.2 million in aggregate offering amount for the month.
- The category is positioned to meet or exceed its record in 2016, with four programs coming soon for a total of $35.5 million in aggregate offering amount.
Additional Resources
Coming soon:
- AI Insight is introducing Industry Reporting in the first quarter of 2019, which will include this data and many more insights into key non-traded markets. To inquire about accessing these expansive data reports, please contact us directly.
- AI Insight CE Course – Conservation Easements. View the course catalog
