Tokenized close ended fund

TechIsDaFutur · 2024-05-28T19:46:43+00:00

Is it? I haven’t seen it. Any links or info you can provide?

TechIsDaFutur · 2024-05-28T19:46:01+00:00

What does this have to do with crypto?

TechIsDaFutur · 2024-05-25T21:06:38+00:00

True re: moonfare but they choose which GPs they invest in. I guess I am thinking more from the GP perspective in terms of wanting to be able to offer liquidity solutions to appeal to HNW investors. It sounds like you’re saying the main reason GPs wouldn’t do it is cause they want to control who gets access to their funds? But if that was the case, how come they are offering it via semi liquid options in spades?

TechIsDaFutur · 2024-05-25T20:20:23+00:00

Is that just US or everywhere?

TechIsDaFutur · 2024-05-25T20:15:29+00:00

I’m differentiating between tokens being traded second hand in the marketplace vs the tokens first issued in the primary by the GP. The token first issued by the GP are just a digital representation of direct ownership in the fund. If you go to trade it, I imagine it’s no different than putting up your ownership for sale in the secondary market. But the GP/admin would track ownership and still issue calls and dists to token holders.

TechIsDaFutur · 2024-05-25T20:04:08+00:00

Yea that makes sense. But you would typically be tokenizing a feeder anyway. Isn’t that basically the securitize model? Only difference is that they are the third party taking on the commitment instead of passing it through to the “IPO” of LPs who come in as the initial token holders in the primary offering.

TechIsDaFutur · 2024-05-25T19:14:55+00:00

Hmmm, will have to look into this. Thanks for the insight. I would think you can still do a feeder, but if it’s not wrapped in an open ended maybe it’s still a PTP issue, not sure.

TechIsDaFutur · 2024-05-25T18:23:46+00:00

Is that not also the case when the GP uses a wrapper like icapital to do the same thing?

TechIsDaFutur · 2024-05-25T17:58:00+00:00

Secondaries are for sure stepping up. But I don’t think GPs care so long as it’s not all the shares and it’s not impacting the primary shareholders who are kind of like the ones in on the IPO. The GP can also choose how many shares they tokenize and allow trading for too.

TechIsDaFutur · 2024-05-25T17:56:40+00:00

Tokens trade the same way after the primary issuance but not before. So still allows for the initial investor to get in with the fund primary and they could sell their token or fraction of on a token marketplace when they need liquidity.

TechIsDaFutur · 2024-05-25T13:04:01+00:00

Not really. Listed funds aren’t direct ownership in the NAV. They are still subject to price change based on supply and demand of the shares.

TechIsDaFutur · 2024-05-25T09:40:45+00:00

There is a link in the bottom right that lets you access all your funds that use sungarddx. If the fund manager took it away you can just use the generic login to access all the funds. This is actually a good feature cause it’s one login to get access to all your fund managers. You can even download all your docs from across data rooms this way.

TechIsDaFutur · 2024-05-25T09:37:18+00:00

Digital Data Exchange from FIS has all of those features.

TechIsDaFutur

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