Alternative investment: US hedge funds look to short side
Unlisted Reits raise money from hundreds of thousands of individual investors who invest as little as $15,000 at a time. The shares, which aren’t listed on any exchange, are highly illiquid; it is this illiquidity that firms like Madison are benefiting from. “You can’t generally call up your broker and say you want to sell or buy these securities. If an investor wants to sell, they may be willing to sell at a discount when they find a buyer,” says Hatch.
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