Overall QOF Equity Bounces Back in Second Quarter, but Far Behind 2022 Numbers
August 2, 2023 | John Sciarretti | Novogradac
Qualified opportunity funds (QOFs) tracked by Novogradac reported raising $2.01 billion in equity over the first six months of 2023, including $1.33 billion during the second quarter of the year.
Equity reported by QOFs tracked by Novogradac reached a cumulative $36.10 billion as of June 30, 2023. Novogradac is tracking 1,731 QOFs, of which 1,330 report a specific amount raised.
The amount of equity reported by QOFs for January through June 2023 is the lowest half-year total for any period since Novogradac began tracking QOF equity data. However, the second-quarter equity raise was an improvement after a record-low first quarter. The second quarter total ranked 11th out of 16 such similar periods in the history of the QOF data, while the first-quarter total of $681.9 million was the lowest three-month total.
