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 launched a Web3 protocol on the Solana network for the issuance and distribution of funds. Through this, Solana’s users will be able to access Hamilton Lane’s Senior Credit Opportunities fund (Scope) through a feeder fund structure.
They can also access the Brevan Howard Master fund and BlackRock’s ICS Money Market fund.
In a statement, the companies said accredited, professional and institutional investors can directly access “top-tier funds on-chain in a fully compliant manner as well as ancillary services for secondary trading and collateralized lending, where available”.
Scope is an evergreen private credit vehicle offering investors the option for monthly liquidity. Solana’s users will be able to get access to 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 tokenisation of private markets funds, we are delighted to partner with Libre,who is at the forefront of innovations in the fund distribution space, to reach a broader range of investors as they launch on Solana. This launch will expand access to the historical strong returns and performance opportunities generated within the private markets, while increasing efficiency and transparency for all investors.”
“The launch of the Libre Gateway on Solana is a huge step forward to enable access to wealth and treasury management tools for users on Solana, and for Libre to take advantage of the low latency and throughput capability of Solana to launch new and innovative services,” added Dr. Avtar Sehra, Libre’s chief executive and founder.
Libre said it is also looking to roll out a number of other services to users on Solana through its gateway over the year.
Alternative asset managers have increasingly been exploring tokenisation as a way to expand the distribution of their funds.
Hamilton Lane in particular has been working on using tokenisation and blockchain technology to expand access to its funds. Most recently it participated in a $47m (£36.4m) funding round by Securitize, which focuses on tokenizing real assets. The Scope fund is also available through the Securitize platform.
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