April 2023 Private Performance
April performance numbers are in and we also have a new member to the portfolio. Our private REITs had a nice bounce back month after March's down numbers. Although both are down slightly on the year still. Fundamentals are very strong here, these REITs have occupancy rates at 95% and 98% and demand has not gone down. Another area where I am very excited is about the private credit sector of the portfolio. Private credit funds are now fully realizing the interest rate gains over the last year. I believe in the space so much so that I added another group into the portfolio. Adding Carlyle's Tactical Private Credit fund. And it came out with strong performance out of the gate, 1.39% for April and up 4.91% on the year.
| Performance | April | Year to Date | Annualized Dividend Rate |
| Blackstone's REIT1 | .18% | -.33% | 4.5% |
| Nuveen Global Cities REIT2 | .28% | -1.23% | 5.41% |
| Blackstone Private Credit3 | 1.2% | 4.6% | 10.1% |
| Carlyle Tactical Credit4 | 1.39% | 4.91% | 10.9% |
For reference, for April, the S&P was up 1.5%, the NASDQ was up .1%, and the AGG(Bond Index) was down .4%. Markets cooled in April after having a strong start to the year. This is where having a consistent performance helps balance out a portfolio. We can talk further if this is a strategy that you think could help support your overall portfolio construction.
- https://www.breit.com/performance/
- https://www.nuveen.com/gcreit/performance
- https://www.bcred.com/performance/
- https://www.carlyle.com/fund?_month=4&_year=2023
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