We buy private company stock, fund interests, and REIT, BDC, and partnership shares directly from holders, at a discount to stated value, for cash certainty.
Confidential process. Transfer experienced. Principal-led.
Timing Most private transfers need company or general partner approval, which often takes 30 to 90 days. For a 2026 sale, starting now gives the best chance.Approvals often take 30 to 90 days. Start now for the best chance of a 2026 sale.
Positions of $100,000 and above
Selling at a loss before December 31.
Yes, a direct sale can realize the loss. Selling a private position for less than your tax basis generally produces a capital loss in the tax year the sale closes, so a 2026 loss needs a closing by December 31, 2026. The loss offsets capital gains, then up to $3,000 of other income a year ($1,500 if married filing separately), and any excess carries forward (IRS Topic 409).
Generally the last day for a sale to close and count toward 2026. A closing in January moves the loss into 2027, where it can still offset 2027 gains.
The most a net capital loss can reduce other income in one year, or $1,500 if married filing separately. The rest carries forward to later years (IRS Topic 409).
The holding period that makes a gain or loss long-term rather than short-term (IRS Topic 409).
The wash sale window. Buying substantially identical stock or securities within 30 days before or after a sale at a loss disallows the loss for now (IRS Publication 550).
How much two large non-traded programs will repurchase. Blackstone Real Estate Income Trust limits repurchases to 2 percent of NAV a month and 5 percent a quarter, and its board can change or suspend the plan (BREIT 10-K). Blackstone Private Credit Fund may repurchase up to 5 percent of its NAV each quarter, at its board's discretion (BCRED 10-K).
Updated November 2026. General information about US federal tax rules, not tax advice. Please confirm how they apply to you with your tax adviser.
Direct, principal-led, and confidential.
Transfers of private positions often require company or general partner consent, a right-of-first-refusal period, and transfer documentation, each of which takes time. Holders who want a sale completed this year generally benefit from starting early. We review each position individually and provide a non-binding indication of interest. Minimum $100,000.
Every position reviewed individually.
Direct decision-making.
Coverage across all 50 states.
Each position submitted is reviewed individually, with direct decision-making by a principal.
Where a position fits our focus, we provide a non-binding indication of interest.
If terms are agreed, we handle transfer documentation through to closing.
A sale below your tax basis generally produces a capital loss, which can offset capital gains. Under IRS rules, a net capital loss can reduce other income by up to $3,000 a year ($1,500 if married filing separately), and any excess carries forward to later years (IRS Topic 409). How this applies to you depends on your circumstances, so please consult your tax adviser.
Generally when the sale closes and ownership passes to the buyer, not when terms are agreed. Company or general partner approval can move a closing into the next year. A loss realized in the next year can still offset that year's gains. Please confirm the timing with your tax adviser.
Many non-traded REITs and BDCs cap or suspend redemptions, and some tender offers are priced weeks after they expire, which can move the sale into the next tax year. Some redemptions are also taxed differently from a sale. A direct sale has an agreed price and a defined closing process. Your tax adviser can say which treatment applies to you.
Abandoning or writing off a position can produce a loss but returns no cash. A sale returns cash and can also realize a loss. A security that became completely worthless during the year is treated as sold on the last day of that year (IRS Publication 550). The tax treatment of each depends on the asset and your circumstances, so please consult your tax adviser.
Buying substantially identical stock or securities within 30 days before or after the sale triggers the wash sale rule. The loss is disallowed for now and added to the basis of the new shares (IRS Publication 550). How the rule applies to fund and partnership interests depends on the asset, so please ask your tax adviser.
It depends on the transfer provisions in the company or fund documents, such as a right of first refusal or general partner consent. Describe the position and any known transfer requirements in your submission.
We purchase at a discount to stated value in exchange for cash certainty and a defined close. Each position is priced individually.
We consider positions with an estimated value of $100,000 or above.
Positions of $100,000 and above, reviewed by a principal.
Return to the review form