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Hamilton Lane Launches Private Credit Fund on Solana Blockchain

Jul 23, 2024

Hamilton Lane, a leading global alternative asset manager with assets exceeding $900 billion, has initiated the launch of a private credit fund on the Solana Blockchain. This step enables investors to participate in the Senior Credit Opportunities Fund (SCOPE) provided by the firm through the Blockchain network. The partnership with Libre, a Web3 protocol specializing in on-chain fund issuance and distribution, paved the way for the tokenization of SCOPE, aiming to attract a broader audience including affluent and crypto-savvy investors. Dr. Avtar Sehra, CEO of Libre, emphasized the selection of Solana for tokenization citing its low latency and high throughput as key factors. Libre's infrastructure supports the connection of accredited investors on networks like Solana with tokenized real-world assets (RWA), facilitating compliant access to top-tier funds and secondary trading opportunities. Hamilton Lane's collaboration with Libre marks a significant step in expanding options for Solana users, previously limited to offerings like tokenized US Treasury bonds. This launch represents the first institutional fund directly on Solana, following Hamilton Lane's prior experiences in Blockchain by tokenizing SCOPE and an equity fund through the digital securities issuance platform Securitize. Victor Jung, the head of Hamilton Lane’s crypto division, expressed satisfaction with the achievements and optimism for future opportunities on Solana. The tokenization of Real-World Assets (RWAs) involves the creation of digital representations of diverse asset classes, enhancing their tradability on public ledgers. This process is expected to boost liquidity, transparency, and accessibility in financial markets, potentially reshaping and democratizing the industry. Larry Fink, CEO of BlackRock, foresaw a future where all financial assets would be tokenized and managed on a unified ledger, aligning with the transformative potential of digital asset tokenization.

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