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Your Questions Answered

Answers to common questions, and if you don’t find what you’re looking for, our support team is ready to assist you.
What is Alture Funds?
Alture Funds delivers to retail investors fractionalized interests in large institutional alternative investment funds that have historically been marketed through “human” wealth manager channels.
What are Alternative Investments?
Alternative investments include private equity, private credit, private real estate and hedge funds. Alts can be regarded as a less volatile complement to public stocks and bonds and can provide other sources of investment return. Studies have shown that investment portfolios that include an allocation to Alts perform better than pure stock / bond portfolios. Alts should be considered more longer term investments.
Who invests in Alternative Investments?
Large, institutional investors such as pension funds, endowment funds and foundations often include very large allocations to Alts, seeking to boost overall investment returns. State pension funds, for example, allocate 40% to Alternative Investments*.
*IMD.org
What is an Interval Fund?
An Interval Fund aggregates capital from many individual investors to purchase interests in large Alternative Investment funds that typically have $5 million to $10 million minimum investment thresholds. An Interval Fund levels the playing field, allowing retail investors to stand alongside some of the largest pension funds, endowment funds and foundations as investors in top-tier Alternative Investment funds. Interval Funds are SEC-reporting companies with annual audit requirements.
Who is Bluerock?
Bluerock is a leading institutional alternative asset manager based in New York.  Bluerock has more than $18 billion in acquired and managed assets and offers investment programs to individual investors seeking solutions aimed at providing predictable income, capital growth, and tax benefits. Through its sponsored Interval Funds, Bluerock places multi-million dollar investments in many Alternative Investment funds, and then fractionalizes these investments to allow participation by smaller individual investors. bluerock.com
Who are Bluerock’s Sub-Advisors?
Bluerock has hired leading Alternative Investment managers to help structure the Alternative Investment portfolios for Bluerock’s Interval Funds. These sub-Advisors have decades and billions of dollars of relevant investment experience. Bluerock is the conduit through which smaller, individual investors can access the track record and expertise of these sub-Advisors. Bluerock has retained WhiteStar Asset Management and Mercer to help structure and advise investment portfolios focused on private credit (Bluerock’s “High Income Institutional Credit Fund”) and private real estate (Bluerock’s “Total Income+ Real Estate Fund”), respectively.
Who is WhiteStar Asset Management?
WhiteStar Asset Management is the Collateralized Loan Obligation (“CLO”) arm of Clearlake Capital Group. WhiteStar is headquartered in Dallas, Texas with offices in London and Dublin. WhiteStar's senior management team has decades of experience in structuring, investing, and managing senior secured loan portfolios, and primarily invests in broadly syndicated senior secured loans and CLO tranches. whitestaram.com
Who is Mercer?
Mercer, a business of Marsh McLennan (NYSE: MMC), is a global leader in helping clients realize investment objectives and enhanced retirement outcomes. Mercer’s business model includes structuring strategic real estate investment portfolios on behalf of institutional clients. mercer.com
What is Private Credit; what is a CLO?
In the wake of 2008’s Global Financial Crisis, traditional bank lending practices were curtailed. Operating businesses needed to expand their access to investment capital, and this void was partially filled by the Private Credit industry.
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Providers of private credit make loans to businesses on a variety of terms, including the requirement that these loans be backed by specific collateral (machines, equipment, inventory, etc.). Often, these loans are aggregated into large pools and sold off to investor groups, in the form of “Collateralized Loan Obligations”, or CLO’s.
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Bluerock has retained WhiteStar to advise on the structure and placement of investment capital into the CLO industry, for Bluerock’s High Income Institutional Credit Fund.
How do I make money?
Bluerock’s Interval Funds have historically paid distributions on a quarterly basis. The annualized distribution for each fund’s most recent quarterly distribution were 14.4% (High Income Institutional Credit Fund*) and 5.25% (Total Income+ Real Estate Fund*).  *Past performance is not a guarantee of future results.
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Additionally, Bluerock’s Interval Funds regularly calculate Net Asset Value (or NAV) per share. NAV per share is the fair market value of the Fund’s assets, minus its liabilities, divided by the number of shares outstanding.
NAV per share may go up, or down, but an increase in NAV per share would be another component of overall investment return.
What fees are involved?
There are costs to fractionalize large, institutional investments and to deliver these fractionalized investments at scale to the public in $2,500 minimum increments. As a result, Bluerock has established a commission structure and management fee structure associated with distributing Bluerock’s financial products to the public efficiently and within regulatory guardrails established by FINRA and other securities licensing agencies. A description of these costs is below, and is summarized as follows:
  • 5.75% sales commission added to share price, one-time. Payable to Bluerock, shared with Broker-Dealers.   
  • 1.50% (Total Income+ Real Estate Fund) or 1.25% (High Income Institutional Credit Fund) recurring annual management fee. Payable to Bluerock.  
  • 0.25% recurring annual shareholder servicing fee.  Payable to Bluerock, shared with Broker-Dealers.
  • $3 per month Alture Funds platform access and maintenance fee. Payable to Alture Funds.
Bluerock Sales Commission. Bluerock sells its investment fund shares through licensed Broker-Dealers (BD’s) and licensed Registered Investment Advisors (RIA’s). The licensing requirements for BD’s and RIA’s help to ensure that the sales processes are consistent and follow regulatory guidelines.
 
For shares sold through BD’s, which include shares sold over the Alture Funds platform, Bluerock adds a commission of 5.75% to the then-current Net Asset Value (NAV) per share. Investors thus pay a share price calculated as NAV per share divided by (1-5.75%). For example, if NAV per share was $20.00, then the share price charged to investors would be $20.00/(1-5.75%) or $21.22. (There are lower commissions for investments over $100,000, with investments exceeding $1,000,000 paying no commissions. See each fund’s Prospectus or speak with an Alture Funds representative for details).
 
Bluerock allocates up to 5.00% of the 5.75% sales commission to BD’s, including Nortlov Securities, LLC, the third-party BD that assists Alture Funds with the sale of Bluerock fund shares over the Alture Funds platform. Nortlov in turn allocates a portion of the 5.00% sales commission to FINRA-licensed BD registered representatives on Alture Funds’ staff.
 
Here is an example of how these one-time, front-end Bluerock fees would work:
Assume that you purchase $10,000 worth of Bluerock High Income Institutional Credit Fund and at the time of your purchase, NAV per share is $20 and the annual distribution is 12%, payable quarterly.  You elect to reinvest these distributions to purchase additional shares.
 
The one-time Bluerock fees would be added to the $20.00 share price, and you would pay $21.22 per share.  Thus, your $10,000 would purchase 471.25 shares ($10,000 divided by $21.22). Your client account statement would reflect an account value of 471.25 shares times $20 per share, or $9,425.
 
If NAV remains $20.00, and if the annual distribution (paid quarterly) remains 12%, and if you reinvested your quarterly distributions, at the end of one year you would own 530.40 shares. These shares, at $20.00 per share, would be worth $10,608.
 
Under the same calculation methodology, at the end of the second year, you would own 596.97 shares worth $11,939 and at the end of the third year, 671.89 shares worth $13,438.

Bluerock Management Fee
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Bluerock is entitled to a monthly management fee payable in arrears at the annual rate of 1.50% (Bluerock Total Income+ Real Estate Fund) and 1.25% (Bluerock High Income Institutional Credit Fund) of the average value of each Fund’s daily net assets during the prior month. Bluerock may elect to defer or waive its management fees to keep overall Fund expenses within certain limitations, as is more fully described in each Fund’s Prospectus. For Bluerock High Income Institutional Credit Fund only, Bluerock is also entitled to an incentive fee that is more fully described in the Prospectus, and which to date has been waived.
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Bluerock Shareholder Servicing Fee
Bluerock is entitled to a monthly shareholder servicing fee payable in arrears at the annual rate of 0.25% of the average value of each Fund’s daily net assets during the prior month.  Bluerock may share this fee with BD’s whose clients are investors in Bluerock’s Funds, including Nortlov Securities, LLC, and Nortlov in turn may share this fee with FINRA-licensed BD registered representatives on Alture Funds’ staff.
 
Alture Funds Platform Fee
Alture Funds charges investors a platform access and maintenance fee of $3 per month. This fee is charged to your linked bank account or credit card account.
How do I get my money out?
Interval Funds shareholders receive a quarterly tender offer to buy back shares priced at the quarter-end NAV per share. The quarterly tender offer is capped at 5% of outstanding shares (20% annually). Shareholders may thus realize liquidity on a quarterly basis. However, quarterly liquidity is not guaranteed, as the shareholder response to the tender offer may exceed the 5% cap. If the tender offer response exceeds the 5% cap, and subject to the direction of the Interval Fund’s Board of Directors, shareholders may receive only a portion of their tendered shares, in a pro-rata basis.

Investors should regard an Interval Fund investment as long-term, with quarterly liquidity opportunities that may be oversubscribed.
Tax Reporting
Tax reporting is in the form of one-page 1099’s delivered on or around January 31 of each year.
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‍Bluerock High Income Institutional Credit Fund Prospectus
Bluerock Total Income+ Real Estate Fund ProspectusForm CRS
Investing in Alternative Investments is speculative and involves substantial risks. The “Risk Factors” section of the Prospectuses contain a detailed discussion of risks that should be considered before you invest. These risks include, but are not limited to, illiquidity, complete loss of invested capital, conflicts of interest, blind pool risk, and any public health emergency. Further, there is no assurance that any Alternative Investment will be able to achieve its investment objectives.

Alture is an alternative investment website (“Site”) operated by Alture Funds ("AF," "we," or "us"). Securities are offered through Nortlov Securities, LLC ("Nortlov"), a registered broker-dealer and member of FINRA (http://www.finra.org/) and SIPC (http://www.sipc.org/). You can review the broker check for Nortlov at (https://brokercheck.finra.org/firm/ summary/318546). Nortlov Securities, LLC is not affiliated with Alture Funds.

By accessing this Site and any pages thereof, you agree to be bound by our Terms of Service and Privacy Policy.  AF does not make investment recommendations via this Site, and no communication through this Site or in any other medium should be construed as such. Citations regarding past performance are not indicative of future performance. Any financial projections or returns shown on the Site are illustrative examples only, and there can be no assurance that any valuations provided are accurate or in agreement with market or industry valuations. Any investment information contained herein has been secured from sources AF believes are reliable, but AF makes no representations or warranties as to the accuracy of such information and accepts no liability therefor. Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documents that contain important information about risks, fees and expenses and only in jurisdictions where such offers or solicitation of offers are authorized. Investors should conduct their own due diligence, not rely on the financial assumptions or estimates displayed on the Site, and are encouraged to consult with a financial advisor, attorney, accountant, and any other professional that can help you to understand and assess the risks associated with any investment opportunity. Articles or information from third-party sources outside of this Site may discuss AF or relate to information contained herein, but AF does not approve and is not responsible for such content. Hyperlinks to third-party sites, or reproduction of third-party content, do not constitute an approval or endorsement by AF or Nortlov of the linked or reproduced content. An investment in the common shares of alternative investments involves substantial risks. The alternative investment featured on this Site have filed Prospectuses (each, a “Prospectus”) with the SEC for the offerings to which this communication relates. Each investor should carefully consider the risk factors discussed in the Prospectus before purchasing shares. A copy of the Prospectus and any supplements may be obtained for free on the Securities and Exchange Commission’s website at www.sec.gov. Some statements in the Prospectus and on the Site may contain forward-looking statements and are based upon current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties. Although AF believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements. An investment in an AF funds entails risk of loss, and you may lose all or part of your investment.