LODAS Markets, Nasdaq Complete First Interval Fund Auction
An inaugural secondary auction for Harrison Street interval fund shares cleared 91% of offered stock, marking a milestone for illiquid fund liquidity.
LODAS Markets and Nasdaq Private Market completed the first interval fund secondary auction in partnership with Harrison Street Private Wealth, with 91% of shares offered in the Harrison Street Real Estate Fund (VCMIX) successfully sold to secondary buyers, according to an announcement released October 2, 2026.
The transaction represents a significant step toward creating structured liquidity pathways for investors holding shares in interval funds, a category of investment vehicle that typically restricts redemptions to quarterly windows and limited percentages of net assets. The completed auction demonstrates that an organized secondary marketplace can attract sufficient buyer demand to clear the majority of shares brought to market.
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Building on the initial auction's results, a second offering is set to follow immediately. The Harrison Street Real Assets Fund (VCRRX) auction was expected to launch October 2, the same day the first auction's results were announced, signaling that the partners intend to move quickly to extend the platform across additional Harrison Street vehicles.
The collaboration between LODAS Markets — a platform focused on secondary liquidity for non-traded alternative investments — and Nasdaq Fund Secondaries, an arm of Nasdaq Private Market, underscores growing institutional interest in solving the liquidity gap that has long been a friction point for retail and private wealth investors in alternative asset classes. Interval funds have surged in popularity among wealth managers in recent years, making the absence of a reliable secondary market an increasingly pressing concern.
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