Rank
Fund
Sponsor
Asset class
Vintage
Composite
1
Terra Fixed Income Trust, Inc.
Terra Capital Partners
Unknown
2011
63
2
Redwood Mortgage Investors IX
Redwood Trust
Unknown
2008
61
3
Iron Bridge Mortgage Fund LLC
Iron Bridge Lending
Residential RE
2015
61
4
MC Debt Fund 1, LLC
MC Debt Fund Manager, LLC (PassiveInvesting.com)
Mortgage / Real Estate Debt
2018
61
5
Hall Structured Finance II, LLC
HALL Group
Unknown
2008
57
6
Groundfloor Yield LLC
Groundfloor Finance
Unknown
2014
53
7
Red Oak Capital Intermediate Income Fund, LLC
Red Oak Capital
Unknown
2015
51
8
Iron Bridge Mortgage Fund, LLC
Iron Bridge Lending
Residential RE
2015
38
9
Groundfloor Loans 2 LLC
Groundfloor Finance
Unknown
2015
36
10
Groundfloor Loans 3 LLC
Groundfloor Finance
Unknown
2015
32
11
Groundfloor Loans 1, LLC
Groundfloor Finance
Unknown
2014
28
Other rankings
Top private funds by LP-favorability
Highest-scoring private funds across every asset class — ranked by Waterfalls composite LP-favorability score.
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.
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.