Private Market News - 8/16/24
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This week’s highlights: Securitize® opens investor access to Hamilton Lane ’s largest fund, Securitize Co-Founder and CEO Carlos Domingo talks about the booming trend of tokenized treasuries, OurNetwork shines the spotlight on BUIDL, private credit sector experiences best results since 2017, and Slovenia makes history with the EU’s first digital bond issuance.
Hamilton Lane’s $5.6b Secondary Fund VI Exclusively Available on Securitize Platform
On Thursday, we announced that qualified purchasers now have access to Hamilton Lane’s largest fund ever, the Secondary Fund VI, through the Securitize platform.
The Secondary Fund VI feeder fund is available exclusively on the Polygon blockchain, leveraging Securitize’s advanced technology to offer a streamlined, fully digital investment process and investment minimum starting at $20k.
Sources: Securitize
The news was covered by Wealth Management, Markets Media, Alternatives Watch, BeInCrypto, among other publications.
Major RWA Firms Reveal Tactics for MakerDAO’s $1 Billion Tokenization Race
Securitize Co-Founder and CEO Carlos Domingo discussed the growth of tokenized treasuries:
“The crypto market is currently around $2.5 trillion, but stablecoins make up about $150 billion, and treasuries only make up $2 billion. You’ll start to see a shift more in line with the traditional finance world, where you have $2 of treasuries per each dollar of actual cash. As more of these DAOs put their funds into these tokenized treasury products, we’ll start to see a rush into the market which will only make our current growth increase exponentially.”
Sources: Lynn Wang , BeInCrypto
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ON-260: Real World Assets
BUIDL is featured in the latest research report from OurNetwork.
“One significant transaction involving BlackRock’s BUIDL fund was the redemption of nearly $5M in USDC sent to Ondo Finance following a weekend of market volatility. This large-scale redemption, processed seamlessly through OUSG, highlights the fund’s capacity to maintain liquidity and protect investors even during periods of market stress. The transaction is significant as it tested the resilience of tokenized treasuries and validated the efficacy of onchain financial products.”
Sources: OurNetwork
Private Credit Secondaries Saw Biggest Pricing Bump in H1 2024
“Greenhill’s Global Secondary Market Review for H1 2024 shows that private credit secondaries pricing increased from 88 percent of net asset value in H2 2023 to 91 percent in H1 2024. Compared with full year pricing, this figure is the highest point for private credit since 2017 when it reached 93 percent, according to Greenhill’s data which goes back to 2013.”
Sources: Greenhill & Co. , Silas Sloan , Secondaries Investor
Slovenia Becomes First European Union Nation to Issue Sovereign Digital Bond
Even as some financial markets have seen major volatility in recent weeks, tokenization is continuing to gain momentum around the globe.
One recent example? On July 25th, Slovenia became the first country in the EU to issue a sovereign digital bond.
Sources: Camomile Shumba , CoinDesk