Kramer Levin Naftalis & Frankel LLP

Fund Name: Lazard Real Assets and Pricing Opportunities Fund
Adviser: Lazard Asset Management LLC
Sub-Adviser(s): None
Fees: 0.70% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $100,000 minimum initial investment for institutional shares, $2,500 for open shares; $1 million minimum initial investment for R6 shares
Filing Date: Dec. 14, 2016
Effective Date: Dec. 30, 2016
   
Fund Name: VanEck Coastland Online Consumer Finance Fund
Adviser: Van Eck Associates Corporation
Sub-Adviser(s): Coastland Capital LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $1 million minimum initial investment; minimum subsequent investment not specified.
Filing Date: Dec. 30, 2016
Effective Date: Pending
   
Fund Name: Eaton Vance High Income 2022 Target Term Trust
Adviser: Eaton Vance Management
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: Dec. 20, 2016
Effective Date: Pending
   
Fund Name: FS Diversified Income Fund
Adviser: FS Diversified Income Advisor LLC
Sub-Adviser(s): Not specified
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum investment for regular accounts, $1,000 for retirement plan accounts; $100 minimum subsequent investment for regular accounts, $50 for retirement plan accounts (Class A and C); Minimum initial investment for Class I shares not specified, subsequent investments may be made in any amount.
Filing Date: Dec. 13, 2016
Effective Date: Pending
   
Fund Name: BlackRock 2022 Global Income Opportunity Trust
Adviser: BlackRock Advisers LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment of 100 common shares ($1,000)
Filing Date: Dec. 6, 2016
Effective Date: Pending
   
Fund Name: City National Rochdale Reinsurance Premium Fund
Adviser: City National Rochdale LLC
Sub-Adviser(s): None
Fees: 0.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Minimum Investment: By or through an RIA or intermediary= $1 million per RIA or intermediary; Direct Investment= $1 million
Filing Date: Dec. 5, 2016
Effective Date: Pending
   
Fund Name: PIMCO Flexible Credit Income Fund
Adviser: Pacific Investment Management Company LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Not specified
Filing Date: Nov. 3, 2016
Effective Date: Pending
   
Fund Name: Steadfast Alcentra Global Credit Fund
Adviser: Steadfast Investment Adviser LLC
Sub-Adviser(s): Alcentra NY LLC
Fees: Management Fee: 2% of gross assets up to and including $500 million; 1.75% of gross assets over $500 million and up to and including $1 billion; and 1.50% of gross assets over $1 billion
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $4,000 minimum initial investment (Class A, T and D); $10,000 minimum initial investment (Class I); Additional purchases in $500 increments, unless made pursuant to the DRP or as otherwise permitted by the Fund
Filing Date: Nov. 3, 2016
Effective Date: Pending
   
Fund Name: Sierra Opportunity Fund
Adviser: SOF Advisors LLC
Sub-Adviser(s): None
Fees: 2% Management Fee; 20% incentive fee on pre-incentive net investment income with a 6% annualized hurdle and a catch up feature
Open- or Closed-End: Closed-End (Annual repurchase)
Investor Restrictions: $2,500 minimum initial investment for regular accounts, $1,000 for retirement plan accounts (Class A); $2,500 minimum initial investment for regular and retirement plan accounts (Class T); minimum subsequent investment of $100 under the fund's automatic investment program or $1,000 (Class A and Class T); $2 million minimum initial investment, no minimum subsequent investment (Class I)
Filing Date: Oct. 31, 2016
Effective Date: Pending
   
Fund Name: FS Energy Total Return Fund
Adviser: FS Energy Advisor LLC
Sub-Adviser(s): Magnetar Asset Management LLC
Fees: 1.75% Management Fee on gross assets
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment for regular accounts, $1,000 for retirement plan accounts, $100 minimum subsequent investment for regular accounts, $50 for retirement plan accounts (Class A and C); minimum investment for Class I not specified
Filing Date: Oct. 25, 2016
Effective Date: Pending
   
Fund Name: Versus Capital Real Assets Fund LLC
Adviser: Versus Capital Advisors LLC
Sub-Adviser(s): None
Fees: $1.15% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $10 million minimum initial investment
Filing Date: Oct. 19, 2016
Effective Date: Pending
   
Fund Name: NorthStar/Townsend Institutional Real Estate Fund Inc.
Adviser: Townsend Holdings LLC
Sub-Adviser(s): NSAM B-TCEF Ltd.
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment, $100 minimum subsequent investment (Class A and C); $25,000 minimum initial investment (Class I)
Filing Date: Oct. 19, 2016
Effective Date: Pending
   
Fund Name: First Trust Senior Floating Rate 2022 Target Term Fund
Adviser: First Trust Advisors L.P.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: None specified
Filing Date: Oct. 14, 2016
Effective Date: Pending
   
Fund Name: Nuveen Preferred & Income 2022 Term Fund
Adviser: Nuveen Fund Advisors LLC
Sub-Adviser(s): Nuveen Asset Management LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: None specified
Filing Date: Oct. 11, 2016
Effective Date: Pending
   
Fund Name: Nuveen Credit Opportunities 2024 Target Term Fund
Adviser: Nuveen Fund Advisors LLC
Sub-Adviser(s): Symphony Asset Management LLC
Fees: Annual management fee to a maximum of 0.7% of the fund's average daily managed assets.
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: Oct. 3, 2016
Effective Date: Pending
   
Fund Name: Nuveen Credit Opportunities 2022 Target Term Fund
Adviser: Nuveen Fund Advisors LLC
Sub-Adviser(s): Symphony Asset Management LLC
Fees: Annual management fee to a maximum of 0.7% of the fund's average daily managed assets.
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: Oct. 3, 2016
Effective Date: Pending
   
Fund Name: Nuveen Credit Opportunities 2020 Target Term Fund
Adviser: Nuveen Fund Advisors LLC
Sub-Adviser(s): Symphony Asset Management LLC
Fees: Annual management fee to a maximum of 0.7% of the fund's average daily managed assets.
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: Oct. 3, 2016
Effective Date: Pending
   
Fund Name: ACA/Prism Multi-Strat Alternatives Fund
Adviser: Crow Point Partners LLC
Sub-Adviser(s): Alternative Capital Advisers LLC
Fees: Advisory fee at the annual rate of 0.75% of the fund's average daily gross invested assets; The Adviser will also receive a fulcrum fee of between 0% and 1.50%, calculated using an annual base advisory fee rate of a specified amount of the average daily net assets of the Fund, adjusted by the Fund’s performance over a rolling 12-month period relative to the HFRI Fund of Funds Conservative Index.
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $25,000 minimum initial investment; $10,000 minimum subsequent investment
Filing Date: Sept. 13, 2016
Effective Date: Pending
   
Fund Name: TCW Diversified High Income 2021 Target Term Fund
Adviser: TCW Investment Management Company LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: Aug. 30, 2016
Effective Date: Pending
   
Fund Name: Partners Group Private Income Opportunities LLC
Adviser: Partners Group (USA) Inc.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investor; Unspecified minimum investments
Filing Date: Aug. 30, 2016
Effective Date: Pending
   
Fund Name: Crow Point Technology Opportunity 2021 Target Conversion Trust
Adviser: Crow Point Partners LLC
Sub-Adviser(s): Recon Capital Partners LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Minimum initial investment of 100 common shares
Filing Date: Aug. 30, 2016
Effective Date: Pending
   
Fund Name: Invesco High Income 2023 Target Term Fund
Adviser: Invesco Advisers Inc.
Sub-Adviser(s): Invesco Asset Management Deutschland Gmbh, Invesco Asset Management Ltd., Invesco Asset Management (Japan) Ltd., Invesco Hong Kong Ltd., Invesco Senior Secured Management Inc., Invesco Canada Ltd.
Fees: Not specified
Open- or Closed-End: Closed-End (Annual repurchase)
Investor Restrictions: Minimum investment of 100 common shares
Filing Date: Aug. 29, 2016
Effective Date: Pending
   
Fund Name: Peachtree Alternative Strategies Fund
Adviser: Homrich & Berg Inc.
Sub-Adviser(s): ABS Investment Management LLC
Fees: 1% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investor; $25,000 minimum initial investment, $5,000 minimum subsequent investment
Filing Date: Aug. 24, 2016
Effective Date: Pending
   
Fund Name: Brookfield Real Assets Income Fund Inc.
Adviser: Brookfield Investment Management Inc.
Sub-Adviser(s): Schroder Investment Management North America Inc.
Fees: 1.00% of average daily managed assets
Open- or Closed-End: Closed-End
Investor Restrictions: Not specified
Filing Date: Aug. 10, 2016
Effective Date: July 12, 2016
   
Fund Name: XAI Octagon Credit Opportunities Alternative Registered Trust - Brokerage Feeder
Adviser: XA Investments LLC
Sub-Adviser(s): Octagon Credit Investors LLC
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase; Feeder fund)
Investor Restrictions: None specified
Filing Date: Aug. 8, 2016
Effective Date: Pending
   
Fund Name: Relative Value Fund
Adviser: Vivaldi Asset Management LLC
Sub-Adviser(s): RiverNorth Capital Management LLC
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $1,000 minimum initial investment
Filing Date: Aug. 8, 2016
Effective Date: Pending
   
Fund Name: Federated Project & Trade Finance Tender Fund
Adviser: Federated Investment Management Company
Sub-Adviser(s): Federated Investors (UK) LLP
Fees: 0.50% management fee on the average daily value of the fund's total managed assets
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500,000 minimum initial investment; $25,000 minimum subsequent investment
Filing Date: July 21, 2016
Effective Date: Pending
   
Fund Name: Pioneer ILS Bridge Fund
Adviser: Pioneer Investment Management Inc.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $1 million minimum initial investment (per registered investment adviser or intermediary if made through an adviser or intermediary, or per individual investor if made directly)
Filing Date: July 15, 2016
Effective Date: Pending
   
Fund Name: NB Crossroads Private Markets Fund IV (TE) - Custody Client LLC
Adviser: Neuberger Berman Investment Advisers LLC
Sub-Adviser(s): NB Alternatives Advisers LLC
Fees: Master Fund pays 0.10% during the first 12 months following the Master Fund's commencement of operations; 0.55% beginning in year two through the end of year eight from the commencement of operations and then 0.30% for the remaining life of the Master Fund.
Open- or Closed-End: Closed-End (Feeder fund)
Investor Restrictions: Certain U.S. tax-exempt entities that are accredited investors and qualified clients (as specified in filing); $50,000 minimum capital commitment
Filing Date: July 13, 2016
Effective Date: Pending
   
Fund Name: NB Crossroads Private Markets Fund IV (TE) - Client LLC
Adviser: Neuberger Berman Investment Advisers LLC
Sub-Adviser(s): NB Alternatives Advisers LLC
Fees: Master Fund pays 0.10% during the first 12 months following the Master Fund's commencement of operations; 0.55% beginning in year two through the end of year eight from the commencement of operations and then 0.30% for the remaining life of the Master Fund.
Open- or Closed-End: Closed-End (Feeder fund)
Investor Restrictions: Certain U.S. tax-exempt entities that are accredited investors and qualified clients (as specified in filing); $50,000 minimum capital commitment
Filing Date: July 13, 2016
Effective Date: Pending
   
Fund Name: NB Crossroads Private Markets Fund IV (TI) Client LLC
Adviser: Neuberger Berman Investment Advisers LLC
Sub-Adviser(s): NB Alternatives Advisers LLC
Fees: Master Fund pays 0.10% during the first 12 months following the Master Fund's commencement of operations; 0.55% beginning in year two through the end of year eight from the commencement of operations and then 0.30% for the remaining life of the Master Fund.
Open- or Closed-End: Closed-End (Feeder fund)
Investor Restrictions: Accredited investors; Qualified clients; $50,000 minimum capital commitment
Filing Date: July 13, 2016
Effective Date: Pending
   
Fund Name: RiverPark Commercial Real Estate Fund
Adviser: RiverPark Advisors LLC
Sub-Adviser(s): Talimco LLC
Fees: 0.65% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $100,000 minimum initial investment
Filing Date: July 11, 2016
Effective Date: Pending
   
Fund Name: RiverNorth/DoubleLine Strategic Opportunity Fund
Adviser: RiverNorth Capital Management LLC
Sub-Adviser(s): DoubleLine Capital LP
Fees: Not specified
Open- or Closed-End: Closed-End (To be NYSE listed)
Investor Restrictions: Not specified
Filing Date: July 1, 2016
Effective Date: Pending
   
Fund Name: CION Ares Diversified Credit Fund
Adviser: CION Ares Management LLC
Sub-Adviser(s): Unspecified entity affiliated with Ares Management LLC
Fees: 1.5% Management Fee; and Non-specified percentage of quarterly pre-incentive fee net investment income.
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment (regular accounts); $1,000 minimum initial investment (retirement plan accounts)
Filing Date: June 30, 2016
Effective Date: Pending
   
Fund Name: NuShares Enhanced Yield U.S. Aggregate Bond ETF
Adviser: Nuveen Fund Advisors LLC
Sub-Adviser(s): Teachers Advisors Inc.
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: June 15, 2016
Effective Date: Pending
   
Fund Name: Griffin Institutional Access Global Credit Fund
Adviser: Not specified (The Adviser is an indirect majority-owned subsidiary of Griffin Capital Corporation)
Sub-Adviser(s): Not specified
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment for regular accounts, $1,000 for retirement plan accounts; $100 minimum subsequent investment for regular accounts, $50 for retirement plan accounts (Class A and C)
Filing Date: June 3, 2016
Effective Date: Pending
   
Fund Name: NexPoint Merger Arbitrage Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee (on daily gross assets)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: April 19, 2016
Effective Date: Pending
   
Fund Name: NexPoint Latin American Opportunities Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee (on daily gross assets)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 24, 2016
Effective Date: Pending
   
Fund Name: NexPoint Distressed Strategies Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee (on daily gross assets)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 24, 2016
Effective Date: Pending
   
Fund Name: First Trust Strategic Mortgage REIT ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): None
Fees: 0.85% Management Fee
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
   
Fund Name: First Trust Long/Short Currency Strategy ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): First Trust Global Portfolios Ltd.
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
   
Fund Name: First Trust Equity Market Neutral ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): Perella Weinberg Partners Capital Management LP
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
   
Fund Name: First Trust CEF Income Opportunity ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
   
Fund Name: First Trust Municipal CEF Income Opportunity ETF
Adviser: First Trust Advisors LP
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: Not specified
Filing Date: March 14, 2016
Effective Date: Pending
   
Fund Name: NexPoint Healthcare Opportunities Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee on gross assets (Class A, C and Z)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 4, 2016
Effective Date: Pending
   
Fund Name: NexPoint Energy Opportunities Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee on gross assets (Class A, C and Z)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 3, 2016
Effective Date: Pending
   
Fund Name: NexPoint Discount Yield Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee on gross assets (Class A, C and Z)
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $500 minimum initial investment for regular accounts, $50 for retirement accounts, $50 minimum subsequent investment (Class A and C); $100,000 minimum initial investment (Class Z)
Filing Date: March 3, 2016
Effective Date: Pending
   
Fund Name: FEG Directional Access TEI Fund
Adviser: FEG Investors LLC
Sub-Adviser(s): InterOcean Capital LLC
Fees: 0.85% Management Fee
Open- or Closed-End: Closed-End (Twice-annual repurchase; Feeder fund)
Investor Restrictions: Accredited investors; $50,000 minimum initial investment; $25,000 minimum subsequent investment
Filing Date: Feb. 24, 2016
Effective Date: Pending
   
Fund Name: FS Global Credit Opportunities Fund - ADV
Adviser: FS Global Advisor LLC
Sub-Adviser(s): GSO Capital Partners LP
Fees: 2% management fee on gross assets (at the Master Fund level); 20% of pre-incentive fee net investment income that exceeds 11.25% per year measured quarterly, once return on adjusted capital exceeds 9% per year, with a catch-up provision (at the Master Fund level)
Open- or Closed-End: Closed-End (Quarterly repurchase; Feeder fund)
Investor Restrictions: $5,000 minimum initial investment; $500 minimum subsequent investment
Filing Date: Feb. 22, 2016
Effective Date: Pending
   
Fund Name: FS Global Credit Opportunities Fund - T
Adviser: FS Global Advisor LLC
Sub-Adviser(s): GSO Capital Partners LP
Fees: 2% management fee on gross assets (at the Master Fund level); 20% of pre-incentive fee net investment income that exceeds 11.25% per year measured quarterly, once return on adjusted capital exceeds 9% per year, with a catch-up provision (at the Master Fund level)
Open- or Closed-End: Closed-End (Quarterly repurchase; Feeder fund)
Investor Restrictions: $5,000 minimum initial investment; $500 minimum subsequent investment
Filing Date: Feb. 22, 2016
Effective Date: Pending
   
Fund Name: Sierra Total Return Fund
Adviser: Sierra Total Return Fund Advisors LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment for regular accounts, $1,000 for retirement accounts (Class A); $2,500 minimum initial investment for regular and retirement accounts (Class T); and $2 million minimum initial investment (Class I)
Filing Date: Feb. 12, 2016
Effective Date: Pending
   
Fund Name: Oppenheimer Macquarie Global Infrastructure Fund
Adviser: OFI Global Asset Management Inc.
Sub-Adviser(s): OppenheimerFunds Inc. (sub-adviser), Macquarie Capital Investment Management LLC (sub-sub-adviser)
Fees: 0.9% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $1,000 minimum initial investment (Class A, C, R and Y); $500 minimum initial investment for Traditional and Roth IRA, Asset Builder Plan, Automatic Exchange Plan and government allotment plan accounts; No minimum initial investment for wrap fee-based programs, salary reduction plans and other retirement plans and accounts.
Filing Date: Feb. 6, 2016
Effective Date: May 23, 2016
   
Fund Name: NorthStar Real Estate Capital Income Master Fund
Adviser: NSAM B-RECF Ltd.
Sub-Adviser(s): NSAM US-RECF LLC
Fees: 2% management fee on gross assets; 20% of pre-incentive fee net investment income that exceeds 8.75% per year measured quarterly, once return on adjusted capital exceeds 7% per year, with a catch-up provision
Open- or Closed-End: Closed-End (Quarterly repurchase; Master fund)
Investor Restrictions: Accredited investors
Filing Date: Feb. 4, 2016
Effective Date: Pending
   
Fund Name: NorthStar Real Estate Capital Income Fund-T
Adviser: NSAM B-RECF Ltd.
Sub-Adviser(s): NSAM US-RECF LLC
Fees: 2% management fee on gross assets (at the Master Fund level); 20% of pre-incentive fee net investment income that exceeds 8.75% per year measured quarterly, once return on adjusted capital exceeds 7% per year, with a catch-up provision (at the Master Fund level)
Open- or Closed-End: Closed-End (Quarterly repurchase; Feeder fund)
Investor Restrictions: $4,000 minimum initial investment; $500 minimum subsequent investment
Filing Date: Feb. 4, 2016
Effective Date: Pending
   
Fund Name: NexPoint Real Estate Strategies Fund
Adviser: NexPoint Advisors LP
Sub-Adviser(s): None
Fees: 1.25% Management Fee
Open- or Closed-End: Closed-End (QPlease see Chart below for more information.
uarterly repurchase)
Investor Restrictions: $2,500 minimum initial investment (Class A and C); $100,000 minimum initial investment (Class Z); $50 minimum initial investment (retirement accounts); $50 minimum subsequent investments
Filing Date: Jan. 19, 2016
Effective Date: Pending

 

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