Rank
Fund
Sponsor
Asset class
Vintage
Composite
1
AccretivUSA, Inc.
AccretivUSA
Residential RE
2012
92
2
Red Oak Capital Fund VI, LLC
Red Oak Capital
Commercial RE
2015
83
3
CWS Investments Inc
CWS Capital Partners
Residential RE
2018
80
4
Traction Capital Fund - Land Development LLC
Unique Ability Capital, LLC (Wesley Greene)
Land Development (residential + commercial)
2018
79
5
Efund City Metro Income Fund LLC
Efund
Commercial RE
2015
76
6
PARADYME FUND A II, LLC
Paradyme Asset Management, LLC
Commercial RE
2018
76
7
Rock Fund VII-A, LLC
TwinRock Partners
Residential RE
2018
75
8
DF Growth REIT, LLC
DiversyFund
Residential RE
2014
73
9
preREO LLC
preREO
Commercial RE
—
72
10
Luna Azul Development Fund, LLC
L.A. Management, LLC
Residential RE
2015
71
11
111 Crowdfunding LLC
Diamond Sky Capital, LLC
Residential RE
2016
71
12
BridgeWell Secured Income LP
BridgeWell Capital
Residential RE
2017
71
13
RSNPG Bristol Partners LLC
RSN Property Group Operations, LLC
Multifamily RE
2026
70
14
ETX Park Fund #2, LLC
ETX Management
Residential RE
2018
70
15
Energea Portfolio 1 LLC
Energea Global LLC
Residential RE
2014
69
16
School of Whales Commecial Real Estate Equity Fund, LLC
SOW Management LLC
Residential RE
2018
67
17
Auerbach Opportunity Fund IV, LP
Auerbach Funds / Auerbach GP IV, LLC
Diversified Real Estate
2016
67
18
Paradyme Equities, LLC
Paradyme Asset Management, LLC
Residential RE
2019
66
19
American Hospitality Properties REIT II, Inc.
Phoenix American Hospitality, LLC
Multifamily RE
2018
66
20
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
65
21
America360, LLC
Dahn America360 Manager, LLC
Self Storage
2014
65
22
CAPITAL CITIES FUND, LLC
Tradewinds Realty Partners, LLC
Residential RE
2018
64
23
Joyner Capital LP
Joyner Capital
Residential RE
2006
64
24
NV REIT LLC
Neighborhood Ventures
Residential RE
2012
64
25
LK Secured Lending Reg A Fund, LLC
LK Advisors, Inc.
Residential RE
2021
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 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.