- First time a personal markets-focused 1940 Act Registered Investment Fund may have digitally-native share courses
- Partnership will present entry by way of the blockchain to Hamilton Lane’s Private Assets Fund (“PAF”) using Figure Technologies’ Digital Fund Services (“DFS”)
- Hamilton Lane will leverage Provenance Blockchain for switch agent companies, fund subscription and investor liquidity for PAF
*The Prospectus for the brand new share courses is just not full and could also be modified. We could not promote these securities till the registration assertion filed with the Securities and Exchange Commission is efficient. This data is just not a proposal to promote these securities and isn’t soliciting a proposal to purchase these securities in any state the place the supply or sale is just not permitted.
SAN FRANCISCO and CONSHOHOCKEN, Pa., Oct. 26, 2022 /PRNewswire/ — Figure Technologies, Inc. (“Figure”) and Hamilton Lane (NASDAQ: HLNE) are making ready to launch three new share courses of Hamilton Lane’s personal markets-focused fund registered below the Investment Company Act of 1940 (“1940 Act”) that digitize the fund share possession report on the Provenance Blockchain utilizing Figure’s Digital Fund Services (“DFS”) platform.
Hamilton Lane, one of many largest personal markets funding companies globally, first filed for the brand new share courses on October 26, 2022, for its Private Assets Fund (“PAF” or the “Fund”). Hamilton Lane’s anticipated launch of the brand new share courses additionally marks the primary time a agency has supplied publicity to a personal markets funding technique below the 1940 Act by means of a blockchain-native share class, and is its newest vital step in remodeling and decreasing inefficiencies throughout the personal markets trade.
As a 1940 Act registered fund, PAF is extra broadly out there to certified U.S. traders, together with sure particular person traders, their wealth advisors, in addition to establishments. It offers entry to a diversified portfolio of personal fairness and personal credit score property by means of a single funding – both by means of the standard main issuance course of or by way of Figure’s DFS platform.
Hamilton Lane is initially utilizing DFS to streamline the first issuance course of and plans to launch two further closed-end personal market funds on the DFS platform within the coming months. Investors within the Fund may even profit from Universal Passporting, which permits traders to reuse their KYC/AML credentials as they transfer to new investments, decreasing time, price and friction. DFS makes use of the Provenance Blockchain to carry out conventional switch agent capabilities comparable to cap desk administration, capital calls, distributions and shareholder communication. The Provenance Blockchain was purpose-built in a regulatory-compliant method with the dimensions, safety and price construction required for monetary establishments.
“We are thrilled to be partnering with Figure to offer another digital-first means for investors to access the private markets. Hamilton Lane was one of the earliest major private markets firms to tokenize a fund, and we remain committed to identifying innovative technology solutions as a means of solving for some of the traditional pain points in the asset class,” mentioned Victor Jung, Head of Digital Assets at Hamilton Lane.
This is the newest growth in assist of the agency’s dedication to using expertise to broaden investor entry to the personal markets. The announcement follows different latest steps Hamilton Lane has taken to broaden entry to its Global Private Assets Fund and in addition to different closed-end funds it manages.
“Hamilton Lane understands the access, convenience and cost savings resulting from the Provenance Blockchain, and we are proud to work with them to upend the financial services industry,” mentioned Mike Cagney, co-founder and CEO of Figure. “This collaboration is ideally timed to combine the expertise of the Hamilton Lane and Figure teams to uncap the potential of blockchain.”
With this announcement, Hamilton Lane joins 15 different funds and Special Purpose Vehicles to supply blockchain-native automobiles on the DFS platform, although PAF is the first-ever 40 Act Fund targeted particularly on the personal markets. Figure will proceed to work with trade contributors and the managed fund neighborhood to greatest leverage blockchain expertise throughout all fund sorts and life cycles.
Figure is remodeling monetary companies by means of blockchain, bringing velocity, effectivity and financial savings to shoppers and establishments. Figure continues to unveil a sequence of fintech firsts throughout the capital markets, funding administration and banking and funds sectors. Figure leverages Provenance Blockchain for mortgage origination, servicing, financing and now personal fund companies. The firm was based in 2018 by serial expertise entrepreneur Mike Cagney, who additionally based SoFi and constructed the corporate right into a multi-billion-dollar enterprise below his management as CEO. Learn extra about https://www.figure.com/.
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a number one personal markets funding administration agency offering progressive options to institutional and personal wealth traders world wide. Dedicated completely to personal markets investing for greater than 30 years, the agency at present employs greater than 540 professionals working in workplaces all through North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has greater than $832 billion in property below administration and supervision, composed of $108 billion in discretionary property and greater than $724 billion in advisory property, as of June 30, 2022. Hamilton Lane focuses on constructing versatile funding packages that present purchasers entry to the total spectrum of personal markets methods, sectors and geographies. For extra data, please go to www.hamiltonlane.com or observe Hamilton Lane on LinkedIn: https://www.linkedin.com/company/hamilton-lane/.
About Provenance Blockchain
Provenance Blockchain is constructed particularly for the monetary companies ecosystem. Leading monetary establishments and fintechs leverage Provenance Blockchain to allow the whole digital asset lifecycle to ship materials enterprise and buyer worth. Provenance Blockchain is efficiently remodeling lending, securitization, funds and exchanges, and has supported over $10 billion in transactions. Provenance Blockchain’s native utility token, HASH, is used to pay transaction charges and allow governance, and is obtainable on OkCoin and dlob.io. For extra data, please go to provenance.io, Twitter @provenancefdn, and LinkedIn.
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Important Information About PAF
Investors ought to take into account the Private Assets Fund’s funding aims, dangers, fees, and bills rigorously earlier than investing. For a prospectus that incorporates this and different details about the Fund, name 1 (888) 882-8212. Investing within the Fund includes danger together with lack of principal.
The Fund operates as a non-diversified, closed-end administration funding firm below the Investment Company Act of 1940, as amended. Though the Fund intends to repurchase shares quarterly, you might not have entry to the cash you make investments for an prolonged time period. The Fund is just not a liquid funding. You could not be capable to promote your shares on the time or within the amount of your selecting no matter how the Fund performs. Investors ought to perceive that the Fund’s shares usually are not at present listed on or out there for buying and selling by means of a securities alternate, and a marketplace for buying and selling on an alternate could by no means be out there to traders. There is at present no secondary market, and no such market is predicted to develop. Because you might not be capable to promote your shares on the time or within the amount of your selecting, you might not be capable to cut back your publicity to the Fund in a market downturn. An funding within the Fund will not be appropriate for traders who might have the cash they invested in a specified timeframe.
Hamilton Lane Advisors LLC is the Advisor to the Hamilton Lane PAF. PAF is distributed by UMB Distribution Services, LLC. UMB and Hamilton Lane are unaffiliated.
SOURCE Hamilton Lane