RCS Capital Corporation announced today that equity capital raise efforts increased 45.7 percent in March as compared to February. Across its wholesale broker-dealer companies, Realty Capital Securities, LLC, SC Distributors, LLC, and The Hatteras Funds, the unit raised $1.1 billion in Q1 2015.
Last month, equity capital raised totaled $476.3 million through 30 direct investment programs and registered investment companies. In February the company raised $326.8 million.
Non-traded direct investment programs took in the bulk of new capital. In March, non-traded investments sales were $433.5 million, up 44.5% compared to $300.1 million for February.
“Following our March equity sales results, we remain confident with the continuous improvement in our overall capital raising initiatives over the past several months,” commented Bill Dwyer, Chief Executive Officer of Realty Capital Securities.
Dwyer remains optimistic that the trend will continue.
He added, “We are very pleased by the continual growth of our selling agreements and selling group, and are particularly encouraged by the first quarter equity raise activity. Additionally, two RCS distributed programs announced their intent to pursue liquidity events in 2015. We believe these liquidity events, as well as those anticipated from currently and expected closed direct investment programs, will be significant catalysts for increasing sales in 2015 as investors recycle capital into our second and third generation programs. In aggregate, there is nearly $50 billion of equity capital in closed non-traded investment programs across the industry that we believe will be a fundamental growth driver in the industry and a key to our long-term platform success.”