The interval fund market has seen notable growth in the first half of 2024, with net assets reaching $86.4 billion, a jump of nearly 11% since the first quarter, according to Robert A. Stanger & Co. Similarly, Morningstar reports that 100 interval funds manage approximately $80.7 billion, highlighting a rising trend fueled by RIAs. 

XA Investments adds that there are currently 110 interval funds managing $101.6 billion, with expectations to see up to 255 funds and $175 billion in net assets by the end of the year. The sector has rebounded from last year’s challenges in real estate-focused funds, now propelled by increased interest in credit and private equity strategies. 

Cliffwater LLC has emerged as a leader, managing nearly a quarter of the market's assets, with its private credit interval funds raising $4.9 billion so far this year. Meanwhile, infrastructure-focused interval funds are also seeing increased investor attention, contributing to a broader market expansion.

Finsum: It’s clear this is a new trend for RIAs and that they are seeing something in interval funds that their clients need.