The unlisted closed end fund market continues to grow rapidly. At the end of 2024, there were $75.6 million in net assets in tender offer funds, up 32.9% from the prior year.

Fund launch trends indicate that this growth is likely to continue in 2025. In fact, this most recent year was record setting in terms of new fund launches.

We count all publicly offered tender offer funds as launched once the SEC declares their prospectus effective. Private offerings count as launched once they file a complete registration statement. Some funds begin raising capital and making investments right away after launching. Others may take longer to build out their distribution network. See also: Interval Fund Launches: Record Growth Set to Continue in 2025.

Additional Tools and Resources

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We also have a lot of data available for free:

• Complete list of all active interval funds 
• Complete list of all active tender offer funds
• Non-traded REITs
• Non-traded BDCs
• Conglomerates, Opcos, and other alternative funds.