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Preferred Capital Securities to Offer Liberty Street Interval Fund Within Retail Channel

By Mari Nicholson

Preferred Capital Securities to Offer Liberty Street Interval Fund Within Retail Channel

Broker-dealer Preferred Capital Securities has partnered with Liberty Street Funds to distribute Liberty Street’s Private Shares Fund to its network of independent broker-dealers and registered investment advisers.

Established in 2014, The Private Shares Fund is a closed-end interval fund that invests in late-stage, venture-backed private companies with established product lines and $100 million of annual revenue. The fund focuses on private companies due to the potential for substantial appreciation before these companies enter the public markets.

With a minimum investment of $2,500 Class A and Class L shares and no investor accreditation requirements, Liberty Street said the fund aims to capitalize on the potential appreciation of dynamic pre-IPO companies, offering investors exposure to an asset class traditionally reserved for institutional and high-net-worth individuals.

“This established fund provides an opportunity for investors to participate in the potential growth of late-stage private companies, many of which are well-known household names. We’re excited to offer The Private Shares Fund; not only is it an excellent diversification tool for our advisers, but it also acts as a completement to our existing suite of products,” said Jeff Smith, chief executive officer of Preferred Capital Securities.

As of Dec. 31, 2024, Liberty Street managed five mutual funds, as well as this interval fund with collective assets under management of approximately $1.5 billion.

“The Private Shares Fund allows advisers to offer clients exposure to innovative, high-growth potential companies previously out of reach to the retail investor,” added Smith.

In late 2024, PCS supported NEWSTAR in launching its fourth Delaware statutory trust offering for those seeking to complete like-kind exchanges under IRC Section 1031. The asset, a single-family rental subdivision in Charlotte, N.C., seeks to raise approximately $14 million in equity from accredited investors.

Since its inception in 2011, PCS has raised over $5 billion in capital across the alternative investment landscape.

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