#interval fund

[rwatimes]

JPMorgan wins SEC approval for monthly redemptions on credit fund

➤ JPMorgan Chase has received SEC approval to offer monthly redemptions for its new private credit fund, a significant departure from the industry's typical quarterly model. ➤ This exemption from the Investment Company Act of 1940 allows investors regular access to capital, with a 2% monthly minimum and a 25% quarterly cap on repurchases. ➤ The move is expected to encourage larger allocations from institutional investors like pension funds and endowments by reducing lock-up risk.

[rwatimes]

Cliffwater caps redemptions at 5% as investors seek exits from $31 billion private credit fund

➤ Cliffwater Corporate Lending Fund has capped quarterly redemptions at 5% due to investor withdrawal requests totaling approximately 17%, indicating significant liquidity pressure in the private credit market. ➤ This move highlights the inherent liquidity limitations of interval funds, designed to protect against forced asset sales but potentially leaving investors waiting longer for their money. ➤ The situation raises concerns about contagion across the private credit sector, as large-scale redemptions could lead to discounted asset sales and broader valuation pressures.

[rwatimes]

Hamilton Lane Launches Credit Income Fund and Private Infrastructure Fund

Hamilton Lane announced the launch of the Hamilton Lane Credit Income Fund and the conversion of the Hamilton Lane Private Infrastructure Fund to an interval fund structure. Structured as interval...

➤ Hamilton Lane has launched a Credit Income Fund and converted its Private Infrastructure Fund to an interval fund structure, aiming to increase accessibility for institutional and private wealth investors. ➤ The Credit Income Fund has already secured over $350 million in commitments, focusing on middle-market senior loans, while the Private Infrastructure Fund will continue its strategy in sectors like telecommunications and energy. ➤ The Private Infrastructure Fund is also being offered in a tokenized format through Republic's digital investment platform, highlighting Hamilton Lane's efforts to modernize private market access via technology.

[reiglobal123]

Interval Fund

Interval Funds are investment vehicles that provide individual investors with access to strategies that are typically limited to institutions such as hedge funds and pension plans.

[reinsurancecapital]

City National Rochdale ILW mutual fund grows as losses settled

City National Rochdale ILW mutual fund grows as losses settled

Industry loss warranty (ILW) investment focused mutual insurance-linked securities (ILS) fund, the City National Rochdale Select Strategies Fund (CNRLX), has grown in its last reported quarter while at the same time losses from the prior year appear to have been largely settled. (more…)

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[reinsurancecapital]

Royal Bank of Canada unit Rochdale launches ILS interval fund

Royal Bank of Canada unit Rochdale launches ILS interval fund

A mutual fund investment management unit subsidiary of the Royal Bank of Canada has launched a prospectus for the City National Rochdale Reinsurance Premium Fund, a new ILS and reinsurance interval investment fund. (more…)

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[reinsurancecapital]

Pioneer launches ILS Bridge Fund, targets post-catastrophe inflows

Pioneer Investments is launching a new insurance-linked securities (ILS) fund strategy, named the Pioneer ILS Bridge Fund, which is designed to enable investors to maintain or grow their allocations to reinsurance as an asset class, particularly after a market-dislocating catastrophe event. (more…)

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[reinsurancecapital]

Pioneer ILS Interval Fund up 16% to $111m, returns 6% in last half-year

Pioneer ILS Interval Fund up 16% to $111m, returns 6% in last half-year

The Pioneer ILS Interval Fund, U.S. mutual fund manager Pioneer Investments interval style insurance-linked securities and reinsurance linked investment fund, has seen its assets increase by 16% to reach $111 million and has returned 6% in the last half-year. (more…)

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