Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
Cascade Real Assets Fund currently provides exposure to 120 properties through seven platform partners, spanning secondaries, co-investments, and seasoned primaries.
The deal would reportedly shift the vehicle's assets into a closed-end structure and trigger a delisting.
The SEC application follows similar relief granted to ARK Venture Fund last month and could give investors additional liquidity outside scheduled repurchase offers.
ARK has outlined plans to list Class X shares on the Texas Stock Exchange under ARKV and offer a separate tokenized class, providing investors with additional liquidity options.
The firm has reportedly engaged with prospective buyers to facilitate liquidity for investors in a US-based open-ended fund managed by Blackstone Property Partners.
Sun Life has committed $150 million in seed capital to the vehicle, which invests globally across infrastructure funds, secondaries, and co-investments.
The collaboration with LODAS Markets will first provide an additional liquidity pathway to investors of Harrison Street AM semi-liquid evergreen funds.
The recently registered interval fund, sub-advised by Barings, will target private asset-based credit investments through direct and secondary transactions.
The non-traded fund currently has more than $2 billion in outstanding redemption requests.
