Rank
Fund
Sponsor
Asset class
Vintage
Composite
1
Traction Capital Fund - Land Development LLC
Unique Ability Capital, LLC (Wesley Greene)
Land Development (residential + commercial)
2018
84
2
Red Oak Capital Fund VI, LLC
Red Oak Capital
Commercial RE
2015
83
3
Energea Portfolio 3 Africa LLC
Energea Global LLC
Residential RE
2021
78
4
PARADYME FUND A II, LLC
Paradyme Asset Management, LLC
Commercial RE
2018
76
5
Rock Fund VII-A, LLC
TwinRock Partners
Residential RE
2018
74
6
Efund City Metro Income Fund LLC
Efund
Commercial RE
2015
73
7
Luna Azul Development Fund, LLC
L.A. Management, LLC
Residential RE
2015
73
8
RODIN GLOBAL PROPERTY TRUST, INC.
Cantor Fitzgerald
Unknown
2016
72
9
Energea Portfolio 1 LLC
Energea Global LLC
Residential RE
2014
70
10
Mission First Capital LLC
Mission First Capital
Residential RE
2015
70
11
Hartley Income Fund, LLC
Hartley Funds
Residential RE
2015
70
12
School of Whales Commecial Real Estate Equity Fund, LLC
SOW Management LLC
Residential RE
2018
70
13
EvolveX Equity Fund LLC
EvolveX Capital
Residential RE
2018
69
14
preREO LLC
preREO
Commercial RE
—
69
15
BridgeWell Secured Income LP
BridgeWell Capital
Residential RE
2017
69
16
Auerbach Opportunity Fund IV, LP
Auerbach Funds / Auerbach GP IV, LLC
Diversified Real Estate
2016
69
17
Golden Garages, LLC
Nectar Garages Manager, LLC (Ben Lapidus & Gerrit Van Maanen)
Garage / Self-Storage (condo)
2018
69
18
CAPITAL CITIES FUND, LLC
Tradewinds Realty Partners, LLC
Residential RE
2018
68
19
RSNPG Bristol Partners LLC
RSN Property Group Operations, LLC
Multifamily RE
2026
67
20
ETX Park Fund #2, LLC
ETX Management
Residential RE
2018
67
21
LK Secured Lending Reg A Fund, LLC
LK Advisors, Inc.
Residential RE
2021
66
22
111 Crowdfunding LLC
Diamond Sky Capital, LLC
Residential RE
2016
66
23
AHP Title Holdings LLC
American Homeowner Preservation
Residential RE
2018
66
24
Cornerstone Institutional Growth REIT, Inc.
Cornerstone Core Properties
Unknown
2009
65
25
America360, LLC
Dahn America360 Manager, LLC
Self Storage
2014
64
Other rankings
Private funds with the highest preferred return
Private funds ranked by stated preferred return rate. Higher pref means LPs hit return-of-capital plus an annual yield before any GP promote kicks in.
Most LP-favorable private funds (highest LP take)
Private funds where the LP captures the highest share of every gross-proceeds dollar in a standard 1.75x exit scenario.
Private funds with the lowest fee drag
Lightest fee load on LP returns. Lower fee drag = more of the fund's gross profit reaching the LP.
Private funds with the strongest GP-LP alignment
GPs with skin in the game — meaningful capital commitment, clawback provisions, promote-heavy compensation. Ranked by Waterfalls alignment dimension.
Top multifamily / apartment private funds
Highest-scoring multifamily private funds — institutional and middle-market apartment plays — by Waterfalls composite LP-favorability score.
Top real estate debt funds
Highest-scoring private real-estate debt and mortgage funds. Senior debt origination, mezzanine, and bridge lending strategies.
Ranked by manager
Largest private fund managers by fund count
Sponsors with the deepest bench — fund managers with the most distinct private funds tracked on Waterfalls. Volume signals platform scale and franchise depth.
Most LP-favorable private fund managers
Sponsors whose funds, on average, score highest on Waterfalls composite LP-favorability. Aggregated across every scored fund in the family.
Private fund managers with the lowest fee drag
Sponsors who run the lightest fee load across their fund families. Averaged across every scored fund — a structural signal of the manager's pricing philosophy.
Private fund managers with the strongest GP-LP alignment
Sponsors whose funds consistently put GP skin-in-the-game — meaningful co-invest commitments, clawback provisions, promote-heavy comp. Aggregated across the family.