LODAS Markets, Nasdaq Complete First Interval Fund Auction for Harrison Street
Ninety-one percent of shares offered in a Harrison Street real estate fund sold via secondary auction, marking a milestone for interval fund liquidity.
LODAS Markets and Nasdaq Private Market completed the first interval fund secondary auction in partnership with Harrison Street Private Wealth, with 91% of shares offered in the Harrison Street Real Estate Fund (VCMIX) successfully sold to secondary buyers, the companies announced Thursday.
The auction represents a significant step toward creating structured liquidity pathways for investors in interval funds, a category of closed-end funds that typically limits redemptions to specific windows and set percentages of outstanding shares. By routing secondary transactions through an auction mechanism, the partnership aims to give existing shareholders an additional exit option beyond those standard repurchase windows.
Read more Integer Holdings Opens Conversion Window for 2028 Senior Notes →
Harrison Street Real Assets Fund (VCRRX) is expected to follow, with a second auction slated to launch the same day as the announcement. The sequential rollout suggests the organizers intend to extend the model across multiple Harrison Street vehicles, testing auction-based liquidity at scale for private wealth clients.
The collaboration brings together LODAS Markets, a platform focused on alternative investment liquidity solutions, and Nasdaq Fund Secondaries, an arm of Nasdaq Private Market that applies exchange-style infrastructure to private and semi-liquid fund transactions. The pairing reflects a broader industry push to modernize liquidity tools for retail-accessible alternative investment products, which have grown rapidly in recent years but have long drawn scrutiny for limiting investor exit flexibility.
Continue reading at Real Estate.
