LODAS Markets, Nasdaq Complete First Interval Fund Auction for Harrison Street

LODAS Markets and Nasdaq Private Market's Nasdaq Fund Secondaries platform have completed what they describe as the first-of-its-kind interval fund auction, executed on behalf of Harrison Street Private Wealth. The auction involved shares of the Harrison Street Real Estate Fund (ticker: VCMIX), with 91% of the shares offered successfully sold to secondary market buyers, signaling meaningful demand for liquidity solutions in the traditionally illiquid interval fund space.

The milestone transaction marks a notable structural development for private wealth investors who hold interval funds — vehicles that typically restrict redemptions to periodic windows and offer limited exit options outside those schedules. By routing shares through a structured secondary auction, investors gained an alternative path to liquidity without waiting for the fund's next redemption period.

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Building on that initial success, a second auction — this one covering the Harrison Street Real Assets Fund (ticker: VCRRX) — was expected to launch October 2, according to the announcement. The back-to-back sequencing suggests both platforms intend to establish a repeatable process for interval fund secondary trading rather than treating the first auction as a one-off event.

The collaboration between LODAS Markets, a marketplace focused on alternative investment liquidity, and Nasdaq Private Market, a well-established secondary trading infrastructure provider, underscores growing institutional interest in creating standardized exit mechanisms for retail-accessible private market products. Interval funds have grown in popularity among wealth management clients seeking private asset exposure, making the liquidity challenge an increasingly pressing industry concern.

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