Gatsby's headline: the equal-weighted average of eight yearly averages of its reported deal returns.
20.87% averaged across the 48 deals; median completed deal 16.58% a year.
“Average Annualized Net Return to Investors (2017-2025): 22.3%”
AltStreet monitors alternative markets and keeps the record behind them: the filings and offering documents, and the historical financial and performance data of every platform and sponsor, what each raised, charged, paid out and returned. That record becomes scored platform reviews, a data terminal, deal alerts with the memo attached, and a research desk.
Requests exceeded the original 5% offer, so the fund used its discretionary extension; no filing shows whether requests also exceeded the 7% it bought.
“Amount Repurchased | Class I $ 1,025,311,527 $ 917,546,316 $ 1,756,725,615 $ 2,344,027,419 | Percentage of Outstanding Shares Repurchased | Class I 3.42 % 2.90 % 5.32 % 7.00 %”
AltStreet Weekly Markets: A CIM Group Vehicle Reports Its First Sales, $1.28 Billion, and AltStreet's Maple-Versus-Stablecoin Yield Spread Falls to About Zero
Nine Credit Funds Reported Net Shareholder Outflows for the Quarter to July 31, and a Tenth for August; Variant Alternative Income's $81.8 Million Led
StartEngine Revenue Rises 71%, but Narrower Private-Fund Margins and Higher Expenses Produce a $3.1 Million Loss
Polen Credit Opportunities Seeks Deregistration and Private Wind-Down; Special 40% Repurchase Offer Closes Today
From the four most recently updated reviews: the claim, then the passage it rests on.
Every review carries this appendix.
Gatsby's headline: the equal-weighted average of eight yearly averages of its reported deal returns.
20.87% averaged across the 48 deals; median completed deal 16.58% a year.
“Average Annualized Net Return to Investors (2017-2025): 22.3%”
Pre-Fund principal returned since June 2024, with interest deferred; losses and gains reported on resolved loans, final recovery unresolved.
$70,254,000 of notes at May 31, 2024.
“We've now returned 90.25% of all PFNF principal since we began this distribution plan.”
AltStreet's read of Ethereum totalSupply at 21:00 UTC on September 30, 2026 matched the attested Ethereum token count for PAXG, USDP, PYUSD and USDG to the whole token.
PAXG 432,506; USDP 24,389,326; PYUSD 1,682,073,708; USDG 320,740,832 on Ethereum; Solana cannot be read historically. The reserve side rests on KPMG's examination.
“Total PAXG redeemable tokens outstanding (Exhibit A line d) 435,306 ... Total redemption assets in fine troy ounces of gold (Exhibit B) 435,306”
Life-to-date gross multiple including the 12 investments over A$20 million, which the 2.4x headline excludes.
Those 12 returned 1.54x. Gross of fees and carry; unaudited.
“If included in the total, the LTD MOIC is 2.3x”
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Is the platform what it says it is, what does it really charge, and what have investors actually gotten back?
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Five layers of evidence, read in this order for every review.
The full evaluation frameworkGoing concern, liquidity, cash runway, operational health
Fee layers, lockups, ROFR mechanics, distribution waterfall
Form D ingestion, amendments, S-1s, fundraising trajectory
Exit tracking, IRR drift, marked-to-realized variance
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From carbon markets and AI compute to private credit, farmland, litigation finance and collectibles.
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