Versus Capital Fund Announces Change to Portfolio Leadership

Versus Capital Real Assets Fund LLC, a non-diversified continuously offered closed-end interval fund advised by Versus Capital Advisors LLC, kicked off the new year with key updates to its portfolio management leadership.

Effective Jan. 1, 2025, Robert Becker was added as a portfolio manager of the fund. Also, Dave Truex was removed as a portfolio manager. The other existing fund portfolio managers, Casey Frazier and Kevin Nagy, are continuing on in their positions.

Becker’s official title is chief investment strategist and managing director of investments. He had served in this role at the adviser since 2024. Prior to joining the adviser, he was director of investor relations at Eversource Energy from 2022 to 2024.

Before that, he spent an extensive part of his career as senior vice president at Cohen & Steers from 2003 to 2022.

Headquartered in Denver, Versus Capital Advisors is an asset management firm that specializes in real asset investing with approximately $4.95 billion in assets under management as of June 30, 2024. According to prospective materials, the adviser entered into sub-advisory agreements with Brookfield Public Securities Group LLC and Lazard Asset Management LLC – each a sub-adviser – in connection with the management of a portion of the fund’s assets.

According to the company, a team approach is used by the adviser to manage the fund. The investment committee of the adviser is chaired by Frazier and includes Becker, among others. Frazier is a founding member of the adviser and is paid a base salary and a discretionary bonus and is entitled to receive distributions of available cash flow from the profits of the adviser, if any, due to his holdings of equity interests. Nagy and Becker are each paid a base salary and a discretionary bonus.

The fund is designed to serve as a core real assets holding and seeks to provide exposure to private infrastructure, private farmland, private timberland, and public real assets by investing in institutional private real assets funds and institutional real assets securities managers.

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