Nasdaq Fund Secondaries Completes First Interval Fund Auction with Harrison Street Private Wealth
LODAS Markets, in collaboration with Nasdaq Fund Secondaries and Harrison Street Private Wealth, successfully completed the first intra-period auction for shares of the Harrison Street Real Estate Fund (VCMIX). The auction sold 91% of offered shares to non-affiliated secondary buyers. Sellers who set asking prices above or below the clearing price saw favorable outcomes, with nearly all selling at their desired rate or better and some receiving higher-than-expected returns. The success has led to plans for a second auction in October 2026 involving Harrison Street Real Assets Fund (VCRRX). This initiative aims to provide scalable liquidity solutions across semi-liquid investment vehicles. The collaboration addresses the growing demand for private market strategies, with net assets of semi-liquid funds reaching $600 billion by March 2026. The auction process complements traditional repurchase programs and provides a transparent mechanism without affecting fund operations or long-term shareholders. Transactions were facilitated through LODAS's technology platform and settled successfully.
Topics: alternative investments fund liquidity secondary market transactions