LIQUIDITY SOLUTIONS
Explore potential liquidity options for non-traded REITs, DST interests, private funds, partnerships, non-traded BDCs, and interval funds. AIL provides confidential reviews of your investment’s structure, repurchase provisions, transfer requirements, and potential buyer interest.
Select your investment category to learn about potential liquidity options, repurchase provisions, and transfer requirements. Each position is reviewed individually.
Explore potential options for non-traded REIT shares, including issuer repurchases, private transfers, and secondary market sales where available.
Explore REIT Liquidity →Review potential sale options for Delaware Statutory Trust interests, including transfer restrictions, sponsor requirements, and potential buyer interest.
Explore DST Liquidity →Explore options for private funds, limited partnerships, LLC interests, non-traded BDCs, and interval funds, subject to investment-specific requirements.
Explore Fund & Partnership Liquidity →Submit private placements and other illiquid investment positions for a confidential review of their structure, transferability, and potential liquidity options.
Request a Confidential Review →Secondary market liquidity depends on more than asset type. AIL evaluates each position based on investment structure, transferability, available documentation, current buyer demand, and other transaction-specific considerations.
Ownership type, sponsor requirements, investment terms, underlying assets, and financing characteristics can all affect a potential liquidity review.
Some positions may be subject to transfer restrictions, sponsor approval requirements, purchaser qualifications, or limitations within governing documents.
Offering materials, account statements, ownership records, and sponsor communications help determine whether a position can be evaluated.
Potential liquidity depends on current buyer interest, asset category, pricing expectations, position size, and overall transaction feasibility.
Secondary market transactions can involve transfer restrictions, sponsor approval requirements, documentation review, buyer qualification standards, and changing market demand. AIL helps investors understand these factors before deciding whether to pursue a potential liquidity transaction.
Every opportunity is handled through a confidential, investment-specific review process..
Experience evaluating non-traded REITs, DST interests, limited partnerships, private placements, and other illiquid alternative investments.
Qualified opportunities may move through documentation review, transfer analysis, buyer qualification, and transaction coordination.
Potential liquidity pathways are evaluated in the context of current buyer demand, market conditions, transferability, and investment-specific factors.
Learn how potential liquidity options differ and what may affect your ability to sell an illiquid investment.
Depending on the investment, potential options may include an issuer repurchase program, a third-party tender offer, a permitted private sale, or distributions from a sponsor-led liquidation. Each route has different pricing, timing, eligibility, and approval requirements. Some investments may have no currently available liquidity option.
AIL reviews the specific holding, available documentation, transfer requirements, and potential buyer interest. A review does not guarantee an offer or completed transaction.
A suspension of issuer redemptions does not necessarily prohibit a private sale. A transaction may still be possible if the governing documents permit transfers, required approvals can be obtained, and an eligible purchaser is willing to buy. Pricing and timing may differ substantially from the issuer’s former redemption program.
For investment-specific examples, read our overview of non-traded REITs with suspended redemptions and limited liquidity .
In an issuer repurchase, the fund or issuer buys back shares under its program’s terms. Those terms may include submission deadlines, pricing dates, deductions, and limits on the amount accepted. Oversubscribed repurchases may be prorated.
In a private sale, a separate purchaser and seller agree on price and transaction terms, subject to applicable transfer restrictions and approvals. The issuer’s repurchase price or deductions do not automatically apply to that separate transaction.
Our guide to selling non-traded BDC shares illustrates the differences between issuer repurchases, third-party tender offers, and negotiated private transfers.
No. A directory listing provides a starting point for research. It does not establish buyer availability, transfer eligibility, or a price at which your investment can be sold. Any potential transaction requires a separate review of the specific position and applicable requirements.
Research your holding in our REIT Directory, explore trust programs in the DST Directory, or find selected funds and partnerships in the Private Fund & Partnership Directory .
Not necessarily. Statement values and reported NAV may reflect a different valuation date or methodology from the purchaser’s assessment. An offer considers investment-specific risks, expected distributions, transfer restrictions, position size, and buyer interest. It may be below statement value, reported NAV, or original cost and is not an independent appraisal.
Our guide to NAV, capital accounts, tax basis, and sale price explains why these figures can differ.
You can still contact AIL about an unlisted investment. Begin with the full investment name, sponsor or issuer, approximate shares or units, and account type. Omit account numbers, Social Security numbers, and other sensitive information from the initial inquiry.
AIL will determine whether further review is appropriate and explain which supporting documents may be needed. Not every holding will qualify for a potential transaction.
Submit basic information for a Confidential Investment Review. AIL evaluates each opportunity based on investment type, structure, documentation, transferability, and current market demand.
REQUEST A CONFIDENTIAL REVIEW