First Trust Alternative Opportunities Fund
VFLEX
NASDAQ- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- First Trust Alternative Opportunities Fund (VFLEX) is a closed-end interval fund that provides investors with access to a diversified portfolio of less-liquid alternative investments, including private equity, real estate, alternative credit, hedged strategies, and direct co-investments; it employs a multi-manager approach through First Trust Capital Management L.P. and sub-advisers to pursue long-term capital appreciation with positive absolute returns across market cycles and low sensitivity to traditional equity and fixed income indices. The Fund offers Class I shares (ticker: VFLEX, inception June 12, 2017) and Class A shares (ticker: VFLAX, inception August 2, 2021), featuring daily NAV pricing, 1099 tax reporting, quarterly repurchase offers of 5-25% of outstanding shares, a 7% annualized distribution policy paid monthly and supported entirely by investment income, and a low $1,000 minimum investment with no accreditation requirements. Its portfolio, as of September 30, 2025, allocates approximately 12% to private equity (e.g., Pomona Investment Fund, Stepstone SPRIM, venture capital via 137 Ventures and Quiet Capital), 14% to real estate (e.g., Bailard Real Estate Fund, Oak Street net lease, Nuveen sector-specific REITs, Invesco core real estate), 13% to alternative credit (e.g., Palmer Square CLOs, Cliffwater direct lending, BC Partners opportunistic credit), 16% to hedged strategies (e.g., DSC Meridian event-driven credit, Walleye multi-strategy, Point72 multi-strategy platform, RiverNorth closed-end fund arbitrage), and 45% to direct co-investments (e.g., asset-backed bridge loans, CLOs, term loans with equity warrants, regulatory capital relief); liquid sub-strategies mitigate illiquidity risk to meet tender limits. The Fund operates primarily in North American markets with potential expansion to Europe for real assets and targets retail and institutional investors seeking alternatives diversification. Headquartered in Chicago, Illinois, and managed by First Trust Capital Management L.P., the Fund underwent a material mandate expansion in January 2019 to emphasize less-liquid alternatives with illiquidity premiums; as of fiscal year-end March 31, 2025, it continues quarterly liquidity provisions amid stable operations, with ongoing monthly distributions through December 2025 and performance reflecting annualized returns of approximately 6.60-9.52% since inception through September 30, 2025.