January 2025 Private Performance

Following a solid 2024 for private markets, January 2025 continued that momentum. While public markets faced early-year uncertainty, private investments offered a steady hand. With positive returns across all major categories—private equity, real estate, and credit—investors were rewarded with both income and growth. These results underscore why private alternatives remain a key component in a well-diversified portfolio, particularly for those focused on long-term stability.

Private Equity: Starting the Year with Upward Movement

The BlackRock Private Investment Fund (BPIF) returned 0.50% in January, building on its 2024 strength and continuing to benefit from its blend of direct and secondary private equity holdings. With the fund now fully allocated, future results will be increasingly driven by underlying portfolio performance and realized exits.

Likewise, the iDirect Private Markets Fund posted a strong 1.98% return in January, capitalizing on exposure to high-growth themes and blue-chip sponsors. With continued investments in healthcare, technology, and infrastructure, iDirect’s early-year performance reflects both its diversification and institutional access to private deals.

Private Real Estate: Rebounding into the New Year

Private real estate showed resilience in January following a muted close to 2024.

Blackstone REIT (BREIT) delivered a 0.77% return, thanks in part to its allocation to rental housing and industrial logistics in growth markets like the Sunbelt. BREIT continues to benefit from high occupancy and minimal exposure to challenged sectors like office.
Nuveen Global Cities REIT (GCREIT) returned 0.42%, supported by strong performance in healthcare and grocery-anchored retail properties. With 94% occupancy and sector-leading international diversification, GCREIT is well-positioned to benefit from a stabilizing real estate environment.

Private Credit: Yield That Keeps Delivering

January saw continued strength in private credit, offering consistent income for investors seeking durable yield in a high-rate environment.

Blackstone Private Credit (BCRED) returned 0.90%, delivering on its strategy of defensively positioned senior secured lending across large, stable borrowers.
Carlyle Tactical Credit (C•TAC) returned 0.88%, maintaining a 10.03% annualized yield while focusing on direct lending and opportunistic credit strategies.
Blue Owl Credit Income Corp. (OCIC) posted a 0.73% return, bringing its annualized dividend to 10.16%, thanks to its concentrated senior secured lending strategy across middle-market borrowers.
Priority Income Fund (PIF) led the category with a 2.23% return, pushing its annualized yield to a compelling 13.96%, reinforcing its high-income potential for risk-tolerant investors.

Performance	January	Year to Date	Annualized Dividend Rate
Blackstone REIT¹	.77%	.77%	4.8%
Nuveen Global Cities REIT²	.42%	.42%	5.50%
Blackstone Private Credit³	.90%	.90%	10.4%
Carlyle Tactical Credit⁴	.88%	.88%	10.03%
Blue Owl OCIC⁵	.73%	.73%	10.16%
Priority Income Fund⁶	2.23%	2.23%	13.96%
iDirect Private Markets Fund⁷	1.98%	1.98%	-
BlackRock Private Investment Fund⁸	.50%	.50%	-

Conclusion: A Promising Start for Private Alternatives

With January off to a strong start across all major private investment sectors, 2025 is already showing signs of being another year where private markets offer essential stability, income, and diversification. From growth-focused private equity to high-yielding private credit and resilient real estate, these strategies continue to reinforce their value alongside traditional public market exposure.

Have questions about how private investments can support your portfolio strategy? Let’s connect and discuss the opportunities available to you.

Schedule Time Now

_{This content is developed from sources believed to be providing accurate information. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.}