The Evanston Multi-Alpha Fund's shareholders also approved its future conversion from a tender offer fund to a daily-NAV interval fund, expected in the first half of 2027.
The interval fund joins a lineup of vehicles managed by Neuberger, StepStone, and Nuveen across private credit, multi-asset, real estate, and venture strategies.
Sun Life has committed $150 million in seed capital to the vehicle, which invests globally across infrastructure funds, secondaries, and co-investments.
As of March, secondaries accounted for 48.2% of the tender offer fund's portfolio, according to EvergreenLink Data.
Neuberger Private Markets Access Fund, a $2.5 billion tender offer fund targeting small- and mid-cap companies, allocated 17% of its capital to GP-led secondaries as of June.
Two CAZ funds are now available through the SoFi Invest platform, covering themes including GP stakes, professional sports, energy infrastructure, space, and defense.
The solutions, available at launch through BofA wealth management platforms, provide access to public and private markets.
We dive into the tender offer fund, which primarily targets direct royalties opportunities, in addition to investments in royalty primary and secondary funds.
The sale-leaseback deal, completed through a JV with Fetner Properties, follows the fund's conversion from a tender offer to an interval structure, while still being taxed as a REIT.
The $91 million Evanston Multi-Alpha Fund will be converted to an interval structure in the first half of 2027.
