Predex Fund
PRDEX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 4221 North 203rd Street, Suite 100 Elkhorn NE 68022
- IPO Date
- Jun 30, 2016
- CIK
- 0001568905
- Similar Companies
- Business
- Predex Fund (PRDEX) operates as a continuously offered, non-diversified, closed-end interval fund that seeks consistent current income primarily, with secondary long-term capital appreciation, moderate volatility, and low correlation to broader markets through investments in real estate-focused underlying vehicles; it invests principally in privately offered, non-traded, perpetual-life institutional private real estate funds (Institutional Private Funds) that allocate at least 80% of gross assets to private equity direct real estate in U.S. markets, with properties at least 75% leased and leverage limited to 55% or less, alongside publicly offered real estate funds (Public Funds) including exchange-traded funds, closed-end funds, mutual funds, and non-traded funds offering daily or monthly liquidity that invest primarily in real estate and real estate-related securities such as equity REITs; under normal circumstances, at least 75% of its assets are committed to real estate industry funds, with cash held temporarily in short-term liquid investments like money market mutual funds or T-Bills between quarterly investment windows of Institutional Private Funds. Headquartered in Elkhorn, Nebraska with administrative services through Ultimus Fund Solutions, LLC, and investment advisory from Union Square Capital Partners, LLC (USCP) based in Kennett Square, Pennsylvania since acquiring management in August 2022 when assets under management stood at approximately $163 million, the Fund concentrates on institutional-quality private real estate targeting stabilized U.S. properties across sectors including office, retail, multifamily, and industrial, while providing limited liquidity via quarterly repurchase offers of at least 5% of outstanding shares at net asset value without secondary market trading. In a significant strategic reorganization approved in June 2024 and completed in September 2024, Predex Fund merged its remaining assets (approximately $110 million as of March 31, 2024) into the USQ Core Real Estate Fund sponsored by Union Square Capital Partners LLC, with Class I shareholders (PRDEX) receiving Class I shares of the successor fund and other share classes converting to Class IS shares, marking the Fund's exit from independent operation as of late 2024 while subject to SEC approval of the related information statement/prospectus.