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INDEPENDENT ALTERNATIVE INVESTMENT INTELLIGENCE

Independent data on alternative investments. Free for wealth advisors.

Compare non-traded REITs, BDCs, interval funds, tender offer funds and DSTs on reported performance, distributions and liquidity — so due diligence starts from evidence, not marketing claims.

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Intelligence
LIVE DATA
DSTS › CLOSED OFFERINGS BY OFFERING YEAR
Projected vs. actual distributions
297 closed DSTs · offered 2019–2026
Closed DSTs compared
297
Paying below projection
17.8%
Open offerings now
73
Projected vs. actual distribution rate
Actual (median)Projected at offering (median)
5.3
5.6
5.3
5.4
4.7
4.6
3.5
3.8
4.6
4.7
4.6
4.7
5.1
5.1
5.1
5.1
2019
2020
2021
2022
2023
2024
2025
2026

Closed DSTs grouped by offering year (years with 10+ offerings), median of each group. Actual = latest reported distribution rate, %.

Live from Blue Vault Intelligence, data as of November 5, 2026. Real programs, shown for illustration, not a recommendation.
Since 2009
Continuous market coverage
5 categories
REITs, BDCs, interval and tender offer funds, DSTs
1,184 programs
Tracked in Intelligence, 318 open to investors now
177 sponsors
Profiled in Intelligence
FROM BLUE VAULT INTELLIGENCE

What the numbers are saying

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FEATURED ANALYSIS

Are distributions keeping pace with the cash flows that support them?

How coverage ratios put headline distribution rates into context, and why the peer comparison matters more than any single number.

Median distribution coverage of non-traded BDCs (net investment income ÷ distributions), Q1 2024 – Q2 2026. Latest: 0.96x. Source: Blue Vault Intelligence.

Read Blue Vault analysis →

Blue Vault Rankings

DATA AS OF November 5, 2026
REIT capital raiseBDC distribution coverageDST sponsor full-cycle results

Capital raised over the last four reported quarters · Q2 2026

  1. 01Blackstone Real Estate Income Trust, Inc.$4.6B
  2. 02Blue Owl Real Estate Net Lease Trust$3.9B
  3. 03Ares Real Estate Income Trust Inc.$2.0B
  4. 04Hines Global Income Trust, Inc.$1.3B
  5. 05Fortress Net Lease REIT$811.2M

Net investment income ÷ distributions, latest reported period · Q2 2026

  1. 01Bain Capital Private Credit1.19x
  2. 02Prospect Floating Rate and Alternative Income Fund, Inc.1.12x
  3. 03T. Rowe Price OHA Select Private Credit Fund1.03x
  4. 04Nuveen Churchill Private Capital Income Fund1.02x
  5. 05Ares Strategic Income Fund1.01x

Share of full-cycle DSTs that broke even · sponsors with 5+ full-cycle programs · Nov 2026

  1. 01Madison Capital100.0%
  2. 02ExchangeRight100.0%
  3. 03Hamilton Point100.0%
  4. 04Cantor Fitzgerald100.0%
  5. 05Passco82.4%

Ranked on reported data. Definitions and peer groups are shown with every list in Intelligence.

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FEATUREDFeatured firms are paid placements. Placement does not reflect Blue Vault research or endorsement.
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