A former adviser who built his practice around special-needs families pleaded guilty this week to wire fraud in a scheme prosecutors say cost LPL, Fidelity, and TD Ameritrade more than $3.3 million. Federal prosecutors say Andrew Komarow initiated about $8.9 million in unfunded transfers into brokerage accounts between October 2022 and February 2023, then used the temporary credit for short-term options trading. The SEC’s earlier civil case alleged a single firm was left with a $3.09 million negative balance after two days of trading. FINRA, the SEC, the CFP Board and Connecticut regulators had already barred him. Sentencing has not been scheduled. Read at AltsWire: altswire.com/barred-adviser-… #BrokerDealer #Compliance #FINRA #SEC #WealthManagement

The SEC’s Division of Examinations released its fiscal year 2027 priorities today, and alternative investments are front and center. Examiners will prioritize advisers recommending products that are hard to trade, illiquid, or have unusual features. The report names loans from private funds and BDCs, as well as private company investments through SPVs. Registered funds holding private credit face reviews of valuation and redemptions. Broker-dealers face Reg BI exams covering private placements and alternative investments. Read the full breakdown on AltsWire: altswire.com/sec-2027-exam-p… #AlternativeInvestments #PrivateCredit #SEC #BDC #IntervalFunds #RegBI

𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘆 𝗦𝗽𝗼𝗻𝘀𝗼𝗿 𝗦𝗽𝗼𝘁𝗹𝗶𝗴𝗵𝘁: Society Hill Capital This week, AltsWire is spotlighting Society Hill Capital, a boutique alternative asset management firm that looks for value in the overlooked corners of the market. Founded in 2019, Society Hill Capital gives financial advisors, family offices, private clients, institutional investors and professional athletes access to real estate and private equity strategies. Its principals have worked with institutions including Wells Fargo, PNC and Pacific Life. The firm invests its own capital alongside its investors in every strategy it recommends. Learn more on their @AltsWire directory page: altswire.com/directory/socie… #AlternativeInvestments #PrivateEquity #RealEstateInvesting #FamilyOffice #FinancialAdvisors #WealthManagement #AltsWire

Alternative investment fundraising totaled $134.4 billion through September, down 14% year-over-year. That headline number misses what’s driving the decline. Credit raised $42.5 billion, down 48%. Non-credit fundraising grew 24% to $91.9 billion. Real estate and infrastructure have now outraised credit for six consecutive months, according to Robert A. Stanger & Co. Full breakdown, including the top 20 sponsors: altswire.com/hard-assets-out… #AlternativeInvestments #PrivateCredit #RealEstate #Infrastructure

FINRA has suspended former Finalis Securities representative Deyon Robertson for five months over a Reg BI violation tied to an illiquid private fund. According to FINRA, Robertson recommended that a retail customer with about $175,000 in liquid net worth invest $48,000 in a residential real estate fund-of-funds. That was more than 25% of her liquid net worth, and it was her first alternative investment. FINRA found the violation willful, which triggers statutory disqualification. FINRA also found that Robertson solicited three Finalis customers into his own house-flipping LLC without notifying the firm. He consented to a $10,000 fine and $2,400 in partial restitution without admitting or denying the findings. Full story on AltsWire: altswire.com/finra-suspends-… #RegBI #FINRA #Compliance #BrokerDealer

What happens when an interval fund wants to change who’s managing your money? Today, the answer is a shareholder vote: a meeting, a proxy solicitor, and months of delay. First Trust Capital Management is asking the SEC for a different answer. Its new exemptive application would let boards approve new sub-advisers without a vote. In exchange, shareholders who object would get a guaranteed way out through a tender offer at NAV. If too many shareholders head for the exit, the hire is off. The SEC has never granted this relief to nontraded funds, according to the application. If it’s approved, other sponsors will likely be watching. Read more on AltsWire: altswire.com/first-trust-cap… #IntervalFund #MultiManager #SEC #AlternativeInvestments

Inspired Healthcare Capital’s bankruptcy sale is officially approved: $713.5 million for roughly 30 senior-living communities, closing out a hearing that stretched across three separate court dates without a ruling. A bankruptcy judge signed 11 sale orders on Oct. 13, settling most of the lender disputes that had held things up. But one fight isn’t over: HPI Fairmount/Delray Lender’s objection over two Florida and Texas properties remains unresolved, even though both sales were approved. And the cash crunch isn’t behind the company either. IHC is now asking for a third increase to its bankruptcy financing, which would bring the total to $100 million, warning it could otherwise be forced to start shutting down communities. The ongoing story at AltsWire: altswire.com/inspired-health… #bankruptcy #seniorliving #InspiredHealthcareCapital

Two Blackstone flagships, two very different quarters. · BCRED: $1.4B in Q3 net outflows, repurchase requests at 10% of NAV, and a fifth straight quarterly NAV decline. · BREIT: best regular-way net flows in four years and 21 consecutive months of positive returns. Across the wealth channel, Blackstone's AUM hit a record $330 billion, with BXPE posting record quarterly sales of $2.9 billion. What Blackstone executives said on today's earnings call: altswire.com/blackstone-weal… #PrivateCredit #NontradedBDC #NontradedREIT #Blackstone

In August, StratCap told AltsWire that its data center CIO was staying put. Seven weeks later, he resigned. Chris Flynn left the adviser and sponsor of StratCap Digital Infrastructure REIT. That followed the July exit of Bryan Marsh III, the head of data center investments. No successor has been named for either role. Flynn will consult on transactions involving "specified assets" through mid-2027. Q3 NAV fell 2.2% to $109.7 million. Full story on AltsWire: altswire.com/stratcap-digita… #NontradedREIT #DataCenters

Another Cetera adviser heads to LPL. Kacy Walker launched Kinetic Wealth through LPL Independent Advisor Network, bringing a practice that reported approximately $300 million in assets. She’s at least the second California adviser to move from Cetera to LPL since July, and the move adds to an October run that includes more than $1.5 billion in practices from Merrill Lynch and Northwestern Mutual. Full story on AltsWire: altswire.com/ex-cetera-advis… #LPLFinancial #Cetera #WealthManagement #AdviserMoves

"I've worked alongside Drew for more than 15 years, going back to our Scott & Stringfellow days." That's WealthForge CEO Bill Robbins on bringing in Drew Jackson as chief revenue officer, reuniting two Richmond industry veterans as the broker-dealer leans further into retail. Jackson, who led strategy and distribution at Capital Square and ran Concorde Holdings before that, will focus on growing WealthForge's sponsor relationships and bringing more representatives onto the platform. Full story on AltsWire: altswire.com/wealthforge-hir… #BrokerDealer #DrewJackson #BillRobbins

Ares Strategic Income Fund's debt-to-equity ratio rose to 1.24x at the end of September, up from 1.15x a month earlier and 1.06x at the end of May. The $9.9 billion nontraded BDC's aggregate NAV fell by about $500 million in September, roughly matching the payout from its third-quarter tender, in which shareholders sought to redeem 13.1% of shares against a 5% cap. NAV per share slipped just 5 cents to $26.69. Performance held steady: Class I shares returned 0.61% for the month, and the fund said distributions remain fully covered by operating cash flow. Full story on AltsWire: altswire.com/ares-strategic-… #PrivateCredit #NontradedBDC #Ares

Invesco’s INCREF grew total NAV to $1.47B in September and added $244.9M of new loans, including a $129.9M Swedish multifamily deal. Class I NAV per share dipped slightly to $24.94. Read on AltsWire: altswire.com/invescos-incref… #NontradedREIT #PrivateCredit #Invesco

ExchangeRight Real Estate has fully subscribed Net-Leased All-Cash 20 DST, a $17.8 million debt-free offering of six net-leased retail properties across Texas, South Carolina, and Alabama. The portfolio is leased to Tractor Supply, Dollar General, NAPA Auto Parts, Dollar Tree, and O’Reilly Auto Parts, with a 9.9-year weighted-average lease term. ExchangeRight said the offering currently pays a 5.2% annualized distribution, covered by in-place lease revenue, and that at exit investors could receive a cash-out financing of 20% or more of their initial investment and a 721 exchange of the remaining equity into the Essential Income REIT. Full story on AltsWire: altswire.com/exchangeright-f… #1031Exchange #721Exchange #NetLease

Apollo Debt Solutions BDC’s aggregate NAV fell to $13.5 billion from $14.6 billion at the end of May. Debt-to-equity leverage climbed to roughly 0.96x from 0.81x. The portfolio slipped to about $25.5 billion from $25.9 billion, while the number of portfolio companies dropped to 377 from 405. That follows a third straight quarter of capped redemptions. Q3 repurchase requests hit about 14.7% of shares against the fund’s 5% cap. Apollo held its monthly distribution at $0.18 per share. Full story on AltsWire: altswire.com/apollo-nontrade… #PrivateCredit #NontradedBDC #Apollo

ACORE CAPITAL is bringing its commercial real estate credit strategies to the wealth channel. The firm has launched ACORE CAPITAL Wealth Solutions and named Mick Manning, formerly of Bridge Investment Group, as president. The platform will sponsor private offerings, including 1031 and 721 exchange strategies, and will distribute through RIAs and broker-dealer-affiliated advisers. A wholesaling team covering three regions and a Dallas operations hub are expected to be in place by year-end. ACORE closed $1.13 billion of whole loans across 15 investments in the third quarter, with housing and industrial accounting for nearly two-thirds of that activity. Read the full story on AltsWire: altswire.com/acore-capital-l… #PrivateCredit #PrivateWealth #1031Exchange

Capital Square has fully subscribed CS1031 Texas Active Living Portfolio I, DST, a $39.3 million all-cash offering of two active-adult cottage communities in McKinney and Waco, Texas. It’s the latest close in a growing series. Capital Square fully subscribed a $34 million Texas active-adult DST in December, closed a $33.3 million Richmond-area active-adult DST in July, and launched its fourth Texas Active Living offering, in New Braunfels, earlier this month. Read the full story on AltsWire: altswire.com/capital-square-… #DST #1031Exchange #ActiveAdult #AlternativeInvestments #RealEstate #WealthManagement

Hines just closed its biggest DST yet. HREX 9 DST closed at about $591 million, backed by two urban apartment towers in Coral Gables and Chicago. That’s a big jump for a platform whose prior offerings mostly landed in the $145 million to $250 million range. Hines’ Alfonso Munk tied the deal to the firm’s conviction in housing demand and a shrinking new-supply pipeline. We have details on AltsWire: altswire.com/hines-closes-59… #DST #1031Exchange #Multifamily #HinesRealEstateExchange

KKR Real Estate Select Trust's Q4 tender came in at 3.7% of NAV, below its 5% quarterly cap. All requests were filled, with no proration and no overflow provision needed. It's a notable turn for a fund that rationed liquidity in the first half of 2026. It was the first quarter below the cap since Q4 2025, after two prorated quarters and a Q3 that cleared only by tapping the fund's overflow provision. The catch: NAV kept sliding. At $22.75, it sits below every NAV AltsWire has reported for the fund this year and $4.25 short of the $27 level KKR's shareholder priority plan is designed to support, even after the fund canceled roughly 1.9 million shares KKR contributed in September. KKR expects to complete its share contributions by June 2027. Full story on AltsWire: altswire.com/krest-q4-redemp… #NontradedREIT #Redemptions #KKR

FINRA is cutting the wait to retake a failed qualification exam from 30 days to 15 after a first or second attempt, and from 180 days to 60 after a third. The change takes effect Jan. 19, 2027, and covers every FINRA exam, including the SIE, Series 7, Series 22, and Series 82. It's broader than NASAA's August move, which shortened only the third-attempt wait on the Series 63, 65, and 66 and kept the 30-day wait after a first or second failure. Starting in January, a candidate who fails the Series 7 can retest in 15 days, while a Series 66 candidate still waits 30. Read more on AltsWire: altswire.com/broker-dealer-c… #FINRA #BrokerDealer #QualificationExams