November 2024 Private Performance

November continued to showcase the strength of private investments in providing stability and growth opportunities, even as public markets grappled with ongoing challenges. Private equity, real estate, and private credit funds again demonstrated their resilience and reinforced their importance in diversified portfolios.

Private Equity: Navigating Complex Markets

The BlackRock Private Investments Fund (BPIF) experienced a slight dip of -0.08% for November, bringing its year-to-date performance to 8.96%. Despite the minor setback, BPIF continues to leverage its strong portfolio across sectors such as software and healthcare equipment. Investments in Project Cloud and Project Compass illustrate its focus on high-growth opportunities while maintaining diversification across North America and Europe.

Meanwhile, the iDirect Private Markets Fund saw a robust 1.95% return in November, significantly boosting its year-to-date performance to 8.60% . Recent additions, including Project Bell and Project Journey, reflect its strategic allocation to direct access investments in technology and financial sectors.

Private Real Estate: Steady Growth

Private real estate investments continued their upward trajectory in November, delivering consistent income and growth:

Blackstone Real Estate Income Trust (BREIT) posted a modest 0.01% return, maintaining its year-to-date performance of 3.07% and an annualized distribution rate of 4.8%.
Nuveen Global Cities REIT (GCREIT) recorded a 0.45% return in November, bringing its year-to-date performance to 2.49%, supported by investments in healthcare and necessity retail properties.

Private Credit: Delivering Strong Yields

Private credit funds maintained their appeal, delivering consistent income even amidst shifting market dynamics:

Blackstone Private Credit Fund (BCRED) posted a 0.60% return, increasing its year-to-date performance to 10.20%, with an annualized distribution rate of 10.4%.
Carlyle Tactical Credit Fund (C•TAC) delivered a solid 0.76% return, bringing its year-to-date total to 10.12%.
Blue Owl Credit Income Corp. (OCIC) posted a 0.63% return, boosting its year-to-date performance to 10.29%, while maintaining an attractive annualized distribution rate of 10.15% .

The Priority Income Fund (PIF) stood out with a remarkable 1.50% return for November, elevating its year-to-date performance to 4.49% and sustaining a high 11.73% annualized dividend rate .

Performance	November	Year to Date	Annualized Dividend Rate
Blackstone REIT¹	.01%	3.07%	4.8%
Nuveen Global Cities REIT²	.45%	2.49%	5.52%
Blackstone Private Credit³	.60%	10.20%	10.4%
Carlyle Tactical Credit⁴	.76%	10.12%	10.01%
Blue Owl OCIC⁵	.63%	10.29%	10.15%
Priority Income Fund⁶	1.50%	4.49%	11.73%
iDirect Private Markets Fund⁷	1.95%	8.60%	-
BlackRock Private Investment Fund⁸	-.08%	8.96%	-

Conclusion: Building Stability and Income

Private investments continued to demonstrate resilience and value in November, balancing short-term fluctuations with long-term opportunities. With strong contributions across private equity, real estate, and credit funds, these investments offer income and diversification, making them a vital component of a well-rounded portfolio.

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_{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.}