What Robert A. Stanger & Company does

Robert A. Stanger & Company is a privately held investment banking and research firm founded in 1978 and headquartered in Shrewsbury, New Jersey. The firm specializes exclusively in non-listed alternative investment products and operates in two interlocking lines of business: (i) subscription research publications covering non-traded REITs, non-traded BDCs, interval funds, tender offer funds, and private placement vehicles; and (ii) professional services comprising investment banking, M&A advisory, real estate appraisals and debt valuation, independent securities valuation, product distribution consulting, and litigation support. Its coverage infrastructure centers on a proprietary database that monitors more than 27,000 alternative investment securities and a family of total-return indices (NAV REIT, NL BDC, Lifecycle REIT) calculated quarterly since December 2015. Across intervals, tender offers, BDCs, and lifecycle REITs, the dataset spans roughly 268 funds and approximately $198 billion in aggregate NAV, with the all-in coverage footprint described as exceeding $500 billion in alternative assets.

The business model blends recurring institutional subscriptions with episodic advisory fees. Recurring revenue comes from an "Institutional Access" annual subscription tier that bundles The Stanger Report, The Stanger Market Pulse, The Stanger Chairman's Report, The Stanger Closed-End Fund Report, Stanger Privates, and The Alt Street Journal weekly newsletter. Non-recurring revenue is generated from investment banking engagements (M&A, capital formation, securities structuring, fairness opinions), independent securities valuations delivered to NYSE member firms, banks, trust companies, clearing firms and custodians, real estate appraisals across multiple property types in the US, Canada, and Europe, product distribution consulting for institutional asset managers, and litigation support. Customers are entirely within financial services — financial institutions, broker-dealers, and institutional asset managers — and the firm holds FINRA, SIPC, and Investment Program Association memberships, enabling broker-dealer FINRA Rule 2331 compliance support through its valuation work.

Go-to-market is sales-led and relies on direct institutional subscription sales, an exclusive Institutional Access program, and ongoing thought leadership, with Stanger executives quoted in Financial Times, Bloomberg, Reuters, Wall Street Journal, and InvestmentNews. The firm is led by Chairman and CEO Kevin T. Gannon, with Executive Managing Directors Randy Sweetman and Michael S. Covello, Managing Director Gregory R. DiSalvo, Special Adviser Mark Goldberg, and a small team (headcount 11-50) operating from a single Shrewsbury office. No parent company, equity funding events, or acquisition history are disclosed, and revenue is not publicly reported.

Name

Robert A. Stanger & Company

Legal name

Robert A. Stanger & Company, Inc.

Website

https://rastanger.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

11–50 employees

Short description

Robert A. Stanger & Company, founded 1978 and based in Shrewsbury, NJ, provides investment banking, valuation, and research services focused on non-listed alternative investment products, serving financial institutions, broker-dealers, and institutional asset managers through subscription publications and professional advisory engagements.

Ownership category

akta.pro rank

Product category

Investment Banking & Alternative Investment Research

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Finance and Insurance (52)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)

akta.pro primary industry

Industry-Specialist / Sector-Focused M&A Advisory (FSAEAGAJ)

akta.pro secondary industries

M&A Advisory (Buy-side/Sell-side) (BPAHADAC), Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps) (FSAEAGAE), Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG), Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF), Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

Keywords

• Investment banking advisory
• Alternative investment research
• Securities valuation services
• Non-traded REIT analysis
• Financial advisory fairness opinions

Headquarters

HQ city

Shrewsbury

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Research Publications and Subscriptions: Revenue from subscription-based publications including The Stanger Report, The Stanger Market Pulse, The Stanger Closed-End Fund Report, The Stanger Chairman's Report, Stanger Privates, and The Alt Street Journal. These publications provide market intelligence, performance data, and analysis on non-listed REITs, BDCs, and alternative investments.
2. Investment Banking Services: Fees from strategic and tactical financial advisory services including M&A transactions, capital formation, securities structuring, and fairness opinions for partnerships, REITs, and real estate advisory companies.
3. Securities Valuation Services: Fees for independent security valuations, particularly for untraded securities, provided to NYSE member firms, banks, trust companies, clearing firms, and custodians.
4. Real Estate Appraisals and Debt Valuation: Appraisal services for all property types including net lease, apartment, retail, office, industrial, healthcare and self-storage, as well as debt valuations for all asset types throughout the United States, Canada and Europe.
5. Product Distribution Consulting: Fees from institutional asset managers for product structuring and distribution consulting services to maximize capital raising opportunities.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Robert A. Stanger & Company is a specialized investment banking and advisory firm providing strategic financial advisory, M&A, securities valuation, real estate and debt valuation, product distribution consulting, and litigation support to the non-listed alternative investment industry (REITs, BDCs, interval funds, private placements). It monetizes these advisory services alongside a portfolio of subscription research publications and proprietary Total Return Indices, sold through an Institutional Access program to financial institutions, broker-dealers, and institutional asset managers.

Product overview

Robert A. Stanger & Company offers a comprehensive suite of investment banking, valuation, and advisory services alongside an industry-leading portfolio of research publications covering the non-traded alternative investment landscape. The core product portfolio includes seven distinct research publications (The Stanger Report, The Stanger Market Pulse, The Stanger Chairman's Report, The Stanger Closed-End Fund Report, Stanger Privates, The Alt Street Journal, and Institutional Access subscription service), complemented by six professional service offerings (Investment Banking, Mergers & Acquisitions Advisory, Real Estate Appraisals & Debt Valuation, Securities Valuation, Product Distribution Consulting, and Litigation Support). Together, these products serve financial institutions, broker-dealers, asset managers, and wealth advisors with market intelligence, valuation data, and strategic advisory services spanning over 500 funds and $500B+ in alternative assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Banking Strategic and tactical financial advisory services in connection with identification, evaluation, and execution of alternatives, including M&A transactions, capital formation, securities structuring, and fairness opinions for partnerships, REITs, BDCs, and real estate advisory companies.
• Mergers & Acquisitions Advisory Advisory services for roll ups, consolidations, and disposition transactions through sale/merger with REITs, institutional investors, and other investment entities.
• Real Estate Appraisals & Debt Valuation Appraisal services for all property types including net lease, apartment, retail, office, industrial, healthcare, and self-storage, plus debt valuations for all asset types throughout the United States, Canada, and Europe.
• Securities Valuation Independent reviews monitoring more than 27,000 alternative investment securities, including financial statement reviews and proprietary database/capital market analysis, with collected and analyzed valuations provided to NYSE member firms, banks, trust companies, clearing firms, and custodians.
• Product Distribution Consulting Institutional asset managers product structuring and distribution consulting services to maximize capital raising opportunities.
• Litigation Support Expertise in real estate, REIT, and partnership securities litigation support.
• The Stanger Report Flagship comprehensive quarterly report focused on non-traded REIT and BDC investing, including aggregate market statistics, total returns by company, total return indices, fee structure comparisons, and profiles of current offerings.
• The Stanger Market Pulse Monthly publication focused on public non-traded REIT, non-traded BDC, and other alternative investment fundraising data, providing exclusive monthly fundraising statistics and market share rankings.
• The Stanger Chairman's Report Quarterly report focused on NAV REIT and non-traded BDC sales and redemptions, providing complete analysis of net capital formation, NAV trends, and subscription data.
• The Stanger Closed-End Fund Report Quarterly report covering 300+ interval and tender offer funds with performance rankings, fundraising data, and vehicle-structure breakdowns (formerly The Stanger Interval Fund Report).
• Stanger Privates Quarterly publication providing deep dive into over 100 Private Placement REITs and BDCs, available exclusively to Stanger Institutional Access subscribers.
• The Alt Street Journal Weekly newsletter providing updates on alternative investments and industry activities.
• Institutional Access Subscription Premium annual subscription providing access to the full Stanger publication suite (The Stanger Report, The Stanger Market Pulse, The Stanger Closed-End Fund Report, The Stanger Chairman's Report, Stanger Privates, and The Alt Street Journal) and exclusive institutional data.

Quantifiable outcome

• Tracks 20 NAV REITs (82 share classes) and 15 Lifecycle REITs (27 share classes)
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Green Street Advisors: Independent research and advisory firm focused exclusively on commercial real estate, including REITs. Highly comparable to Stanger's real estate advisory and REIT-focused research franchise, with similar subscription-driven research business.
• Duff & Phelps (Kroll): Provides independent valuation, M&A advisory, and fairness opinions across alternative investments and real estate. Closely mirrors Stanger's securities valuation, real estate appraisal, and fairness-opinion services to financial institutions and corporate clients.
• Preqin: Alternative-asset data and intelligence provider covering private capital, real estate, and infrastructure. Comparable to Stanger's research and data products tracking alternative investments (REITs, BDCs, private placement vehicles) on a subscription basis.

Broad incumbents

• S&P Global Market Intelligence: Large-scale financial data, research, and analytics platform covering public and private securities, real estate, and alternatives. Overlaps with Stanger's subscription research and securities valuation services, though at substantially greater scale and breadth.
• Bloomberg Intelligence: Research and analytics arm of Bloomberg Terminal covering REITs, BDCs, and alternative investments. Comparable to Stanger's research publications in subject matter, but distributed to a much larger installed base of institutional clients.
• MSCI Real Estate: Provider of real estate indices, analytics, and benchmarking (e.g., IPD indices). Comparable to Stanger's proprietary REIT total-return indices and real estate appraisal/valuation services, with much broader geographic reach.
• JLL (Jones Lang LaSalle): Global real estate services and investment management firm offering valuation, capital markets advisory, and M&A services. Comparable to Stanger's real estate appraisal, debt valuation, and M&A advisory practices for REITs and real estate companies.
• CBRE Group: Largest global commercial real estate services firm with valuation, capital markets, and investment banking capabilities. Overlaps with Stanger's real estate appraisal, debt valuation, and REIT-focused M&A advisory work, at substantially greater scale.
• Houlihan Lokey: Global investment bank with strong real estate, financial services, and valuation practices. Comparable to Stanger's M&A advisory and fairness-opinion work, especially for REIT and partnership transactions.

Regional players

• Newsec: Pan-European real estate advisory firm offering valuation, capital markets, and investment advisory services. Comparable to Stanger's European real estate appraisal and debt valuation activities, but primarily serves European clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/robert-a-stanger

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Robert A. Stanger & Company