Nomura Alternative Income Fund: management transactions · United States · SEC (Form 4)

About Nomura Alternative Income Fund

Nomura Alternative Income Fund (ticker: NAIFX) is a U.S.-based alternative investment fund available to investors through the American market framework, with SEC reporting and corporate presence tied to the United States. The fund is organized as a Delaware statutory trust, began operations on February 13, 2023, and is managed by Nomura Capital Management LLC, part of the broader Nomura group. Its business address is in New York at 309 West 49th Street, New York, NY 10019, underscoring a clear operational footprint in the United States and proximity to the core U.S. asset-management ecosystem. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1944664/000158064225003612/nomura_ncsr.htm?utm_source=openai)) From an investment standpoint, NAIFX is a non-diversified, continuously offered closed-end fund that operates as an interval fund with limited liquidity. Its primary objective is to maximize risk-adjusted total return, while seeking current income as a secondary objective. For investors, this places the fund in the alternative-income and diversified-yield category rather than in a traditional daily-liquid mutual fund format. The interval fund structure is important: it is designed for portfolios that may include less liquid assets and therefore relies on periodic repurchase windows instead of continuous open-end liquidity. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1944664/000158064225003612/nomura_ncsr.htm?utm_source=openai)) In terms of core business lines, the fund’s public disclosures show a hybrid approach. It has allocated capital to private opportunities through limited partnership commitments and direct deal participations with third-party asset managers, and it has also held exposure to a collateralized loan obligation (CLO). At the same time, the public-markets sleeve has been described as conservative, with investments in short-duration U.S. Treasury bills and agency mortgage-backed securities. That mix suggests a portfolio construction process aimed at balancing income generation, risk control, and liquidity management. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1944664/000158064224003058/nomura_ncsr.htm?utm_source=openai)) Historically, the product was enabled by SEC exemptive relief and related filings in 2023, which allowed the fund to operate with multiple share classes and an interval-fund structure. Those regulatory approvals were key to bringing the strategy to market in a U.S. registered format. Since launch, the fund has continued to publish annual reports and shareholder communications, reflecting an active compliance and reporting cadence typical of SEC-registered investment companies. ([sec.gov](https://www.sec.gov/rules-regulations/2023/03/nomura-alternative-income-fund-nomura-private-capital-llc?utm_source=openai)) Competitively, NAIFX sits in a segment where manager brand, sourcing capability, underwriting discipline, and liquidity design matter more than simple benchmark replication. The Nomura affiliation provides global financial-brand recognition and institutional infrastructure, while the fund’s structure targets investors seeking non-correlated or less-liquid return streams. Recent filings indicate continued portfolio development, growing subscriptions, and ongoing SEC disclosure activity, all of which are relevant for assessing the fund’s execution and product-market fit in the U.S. alternative-income space. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1944664/000158064225003612/nomura_ncsr.htm?utm_source=openai))