Bluerock's Baffico says HALO trades will benefit from Private Credit Redemptions
About this episode
Steve Baffico discusses the impact of private credit redemptions on the real estate market and the transition of Bluerock's fund structure.
Steve Baffico, Executive Vice President and head of listed products at Bluerock , which runs the Bluerock Private Real Estate fund, expects the real estate market to benefit as money moves from private credit , business-development companies and direct-lending strategies in pursuit of something with "hard assets and low obsolescence." That HALO trade should drive growth moving forward; Baffico discusses what the fund is focused on as it continues its transition from an interval fund to being a closed-end fund. That journey has included four hikes in distributions over the last four months, and Baffico says he explains what the firm is doing to quickly reach its target distribution rate of 8 to 8.5 percent.
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