April was the slowest month of the year in terms of private-placement fund activity, according to AI Insights by iCapital Network. The 13 funds added during the month were less than half of the 28 added in March, but they are three funds more than April 2020 — which was one of the slowest months ever, as the pandemic had started to impact the markets.
Despite a slowdown recently, 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 69 percent of funds and 55 percent of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 17 percent. However, our acquisition by iCapital is allowing us to enhance our coverage of private equity and debt more than ever before.
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