Rank
Fund
Sponsor
Asset class
Vintage
Alignment
Composite
1
AAA Storage Growth Fund II, LLC
AAA Storage Management Company, LLC
Self-Storage
2018
68
57
2
Red Oak Capital Fund VI, LLC
Red Oak Capital
Commercial RE
2015
50
83
3
Golden Garages, LLC
Nectar Garages Manager, LLC (Ben Lapidus & Gerrit Van Maanen)
Garage / Self-Storage (condo)
2018
45
61
4
CWS Investments Inc
CWS Capital Partners
Residential RE
2018
40
80
5
Efund City Metro Income Fund LLC
Efund
Commercial RE
2015
40
76
6
Rock Fund VII-A, LLC
TwinRock Partners
Residential RE
2018
40
75
7
preREO LLC
preREO
Commercial RE
—
40
72
8
America360, LLC
Dahn America360 Manager, LLC
Self Storage
2014
40
65
9
AF 2019 NPL A LLC
Automation Finance
Residential RE
2019
40
44
10
BridgeWell Secured Income LP
BridgeWell Capital
Residential RE
2017
38
71
11
RSNPG Bristol Partners LLC
RSN Property Group Operations, LLC
Multifamily RE
2026
38
70
12
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
38
65
13
Joyner Capital LP
Joyner Capital
Residential RE
2006
38
64
14
PARADYME FUND A II, LLC
Paradyme Asset Management, LLC
Commercial RE
2018
35
76
15
111 Crowdfunding LLC
Diamond Sky Capital, LLC
Residential RE
2016
35
71
16
Energea Portfolio 1 LLC
Energea Global LLC
Residential RE
2014
35
69
17
NV REIT LLC
Neighborhood Ventures
Residential RE
2012
35
64
18
Cardone Equity Fund IX, LLC
Cardone Capital, LLC
Multifamily RE
2020
35
63
19
DF Growth REIT II, LLC
DiversyFund
Residential RE
2020
35
56
20
DAKOTA REAL ESTATE INVESTMENT TRUST
Dakota REIT
Residential RE
—
35
55
21
Impact Housing REIT, LLC
Impact Housing
Residential RE
2021
35
19
22
Concorde Essential Properties Fund LLC
Concorde Group
Commercial RE
2019
32
58
23
MHPI IV, LLC
MHP Portfolio, LLC and RV Horizons, Inc.
Mobile Home Parks (Manufactured Housing)
2015
32
55
24
Auerbach Opportunity Fund IV, LP
Auerbach Funds / Auerbach GP IV, LLC
Diversified Real Estate
2016
30
67
25
Paradyme Equities, LLC
Paradyme Asset Management, LLC
Residential RE
2019
30
66
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.
Top real estate debt funds
Highest-scoring private real-estate debt and mortgage funds. Senior debt origination, mezzanine, and bridge lending strategies.
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.