Red Oak Capital launched its first hybrid fund, Red Oak Capital Fund VI.  The fund would allow Red Oak to take in qualified and taxable investments.  The fund offers two products — a bond offering and preferred units offering focussing on U.S. senior secured and small-balance-sheet real estate debt investments.  Red Oak intends to make short-term, first-lien loans and acquire other senior-secured real estate debt investments through Fund VI. The hybrid fund's offerings include $40M in Series A preferred membership units and a $35M bond with two options.