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Hamilton Lane Puts Private Credit Fund on Solana Blockchain
Hamilton Lane is making its senior private credit fund available on the Solana blockchain, through a partnership with Libre.
Libre, an institutional Web3 infrastructure, is a joint venture launched earlier this year by hedge fund Brevan Howard’s WebN Group and Nomura’s Laser Digital. It has launched a Web3 protocol on the Solana network for fund issuance and distribution. This will allow Solana users to access Hamilton Lane’s Senior Credit Opportunities fund (Scope) via a feeder fund structure.
They also have access to BlackRock’s Brevan Howard Master fund and ICS Money Market fund.
In a statement, the companies said accredited, professional and institutional investors can directly access “high-level funds on-chain in a fully compliant manner, as well as ancillary services for secondary trading and secured lending where available.”
Scope is an evergreen private credit vehicle that offers investors the option of monthly liquidity. Solana users will be able to access it through the HL SCOPE Access fund.
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Victor Jung, Head of Digital Assets at Hamilton Lane, said: “As a leader in the tokenization of private markets funds, we are delighted to partner with Libre, who are at the forefront of innovation in the fund distribution space, to reach a broader range of investors when we launch on Solana. This launch will expand access to the historic returns and performance opportunities generated within private markets, while increasing efficiency and transparency for all investors.”
“The launch of Libre Gateway on Solana is a huge step forward in enabling Solana users to access wealth management and treasury tools, and in enabling Libre to leverage Solana’s low latency and throughput capacity to launch new and innovative services,” added Dr. Avtar Sehra, CEO and founder of Libre.
Libre said it also plans to launch a number of other services for Solana users through its gateway later this year.
Alternative asset managers are increasingly exploring tokenization as a way to expand the distribution of their funds.
Hamilton Lane in particular has been working on using tokenization and blockchain technology to broaden access to its funds. Most recently, it participated in a $47 million (£36.4 million) funding round from Securitize, which focuses on tokenizing real assets. The Scope fund is also available through the Securitize platform.
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