Rank
Fund
Sponsor
Asset class
Vintage
Pref
Composite
1
Traction Capital Fund - Land Development LLC
Unique Ability Capital, LLC (Wesley Greene)
Land Development (residential + commercial)
2018
12.5%
84
2
Vestfundr, LLC
VestFundr Management, LLC, a Wyoming limited liability company, and any Company
Residential RE
2018
12.0%
61
3
American Homeowner Preservation 2015A LLC
American Homeowner Preservation
Residential RE
2015
12.0%
43
4
FISYN FUND II LLC
FISYN
Residential RE
2015
12.0%
35
5
Auerbach Opportunity Fund IV, LP
Auerbach Funds / Auerbach GP IV, LLC
Diversified Real Estate
2016
10.0%
69
6
Golden Garages, LLC
Nectar Garages Manager, LLC (Ben Lapidus & Gerrit Van Maanen)
Garage / Self-Storage (condo)
2018
10.0%
69
7
PRC Equity Fund I, LLC
PRC, Inc
Residential RE
2015
10.0%
63
8
Iron Bridge Mortgage Fund LLC
Iron Bridge Lending
Residential RE
2015
10.0%
61
9
Elevation Fund 8, LLC
Elevation Events, LLC (d/b/a Elevation Capital Group); Manager: Elevation Fund 8 Manager, LLC
Self-storage facilities and manufactured/mobile home parks
2020
10.0%
61
10
3050 LSC, LLC
3050 LSC Manager, LLC (same template as 412WLR)
Multifamily RE
2015
9.0%
45
11
412WLR, LLC (Braxton Woods Lake)
412WLR Manager, LLC
Multifamily RE
2018
9.0%
44
12
Iron Bridge Mortgage Fund, LLC
Iron Bridge Lending
Residential RE
2015
9.0%
38
13
Cottonwood Multifamily Opportunity Fund, Inc.
Cottonwood Capital Advisors
Residential RE
2017
9.0%
24
14
Mission First Capital LLC
Mission First Capital
Residential RE
2015
8.3%
70
15
Red Oak Capital Fund VI, LLC
Red Oak Capital
Commercial RE
2015
8.0%
83
16
PARADYME FUND A II, LLC
Paradyme Asset Management, LLC
Commercial RE
2018
8.0%
76
17
Rock Fund VII-A, LLC
TwinRock Partners
Residential RE
2018
8.0%
74
18
Efund City Metro Income Fund LLC
Efund
Commercial RE
2015
8.0%
73
19
Luna Azul Development Fund, LLC
L.A. Management, LLC
Residential RE
2015
8.0%
73
20
School of Whales Commecial Real Estate Equity Fund, LLC
SOW Management LLC
Residential RE
2018
8.0%
70
21
EvolveX Equity Fund LLC
EvolveX Capital
Residential RE
2018
8.0%
69
22
RSNPG Bristol Partners LLC
RSN Property Group Operations, LLC
Multifamily RE
2026
8.0%
67
23
111 Crowdfunding LLC
Diamond Sky Capital, LLC
Residential RE
2016
8.0%
66
24
America360, LLC
Dahn America360 Manager, LLC
Self Storage
2014
8.0%
64
25
Secured Real Estate Income Strategies, LLC
SREIF Manager II, LLC
Residential RE
2018
8.0%
62
Other rankings
Top private funds by LP-favorability
Highest-scoring private funds across every asset class — ranked by Waterfalls composite LP-favorability score.
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.