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Inside CIM Real Assets & Credit Fund (RACR)
What happens when real estate, CLOs, CMBS, leveraged loans, repos, and derivatives all end up in the same interval fund?
Jul 17
•
Leyla Kunimoto
56
4
1
Blue Owl's OCIC vs Oaktree Strategic Credit Fund: A Tale of Two Redemption Queues
A look at portfolio composition, leverage, and income quality
Jul 5
•
Leyla Kunimoto
64
2
Cliffwater Corporate Lending Fund (CCLFX): The Machine Slows Down
Rising redemptions, falling NAV, and what's happening below the surface
Jun 21
•
Leyla Kunimoto
37
4
1
Apollo Diversified Real Estate Fund: What Changed While You Weren't Looking
The fund is now $3.3B (down from $3.7B), and the mandate is quite different
Jun 13
•
Leyla Kunimoto
56
5
1
Is Partners Group Private Equity (Master Fund) Showing Its Age?
Private equity evergreen funds don't get sick.
Jun 3
42
6
1
The Discount Capture Machine: Inside Coller’s PE Secondaries Fund (C-SPEF)
The early years of evergreen secondaries can look extraordinary, this is a look inside one
May 21
•
Leyla Kunimoto
47
SREIT: What Happens When You Buy at the Peak?
How an $11 billion fundraising boom became a 48-month redemption crisis
May 10
•
Leyla Kunimoto
58
9
3
BCRED: High Yield Now, NAV Erosion Later
10% yield works (because half the money never leaves)
Apr 30
•
Leyla Kunimoto
59
3
Loan Gone Bad: BCRED's Medallia Problem
A $1 billion loan, a 30% markdown. What does it mean for NAV?
Apr 26
•
Leyla Kunimoto
56
1
Variant Alternative Income Fund (NICHX): Positive Returns, Shrinking NAV
How distributions and write-downs explain the paradox (and what to watch for)
Apr 16
•
Leyla Kunimoto
42
1
1
JPM Private Markets Fund: Losing Money on Operations, Up 74%
How a $1.4 billion fund generates double-digit returns without a single profitable quarter
Apr 8
•
Leyla Kunimoto
57
11
3
Cliffwater's Cascade Private Capital Fund (CPEFX)
23.5% of the portfolio is effectively a fund-of-funds-of-funds (you read that right)
Mar 28
•
Leyla Kunimoto
50
3
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