A mathematical analysis of non-traded BDC redemption queues.

Is the Juice worth the Squeeze? Mark M. Goldberg, Alternative Investments Market Intelligence, 3 May 2026, “Perpetual Fund ≠ Perpetual Capital: Is the Juice worth the Squeeze?”, https://www.altsmi.com/post/perpetual-fund-perpetual-capital Executive Summary The non-traded REIT market has shifted from lifecycle vehicles to perpetual structures. That shift is widely understood in terms of liquidity, product design, and distribution efficiency. It is less well understood in term

A review of six years of audited balance sheet data from Starwood Real Estate Income Trust tell a story balance sheet contraction and a lesson for Risk Management.

What the April 2026 NT-BDC Filings Confirm Prepared by Mark Goldberg | Research Note 5 of the series on this topic Mark M. Goldberg, Alternative Investments Market Intelligence, 5 April 2026, “Five Years, Not Five Quarters: Queue the Math!”, https://www.altsmi.com/post/five-years-not-five-quarters-queue-the-math Executive Summary In November 2025 I argued that the coming stress event in private credit would not originate from credit losses. It would originate from who fund