Semiliquid Funds

Going once, going twice, sold! The first interval fund auction is set to kick off on Aug. 28.

Carlyle AlpInvest Private Markets earned a Bronze rating in Q2. High fees and unproven strategies held the others back.

Beneath the surface of the semiliquids market, fees are high, and most of the funds aren’t as compelling as investors expected.

Morningstar’s Manager Research team has cast its gaze on a newer class of funds that aims to widen investors’ access to private markets. We discuss the process the team plies in doing its due diligence on these funds, their prospective risks and rewards, and the overarching objective of the team’s research—sending clear and actionable signals to investors.

As the semiliquid market approaches $600 billion in assets, understanding how funds handle liquidity, fees, and risk may be more important than ever.

How investors can set realistic expectations, choose the right vehicle, and size allocations with care.

Blackstone and Apollo offerings earned high marks in Morningstar’s latest batch of semiliquid fund ratings.

High fees and high cash are a compound drag on returns.

If you want to invest in these high-potential vehicles but are worried about your liquidity, here’s what to know.

Play retail games, win retail prizes.

Understanding the limitations of semiliquid vehicles is the key to using them well.

Keep these three factors in mind when adding private market strategies to a portfolio.

Meeting all its redemption requests shows ingenuity amid broader private credit trends that could spell trouble.

Here’s what investors should consider before adding private market strategies to their portfolios.

PitchBook’s principal fund strategies analyst provides a lesson in the parlance of private markets as they open to a broader spectrum of investors.