- Parties will address the challenges and opportunities of increasing access to private credit funds as part of the initiative
- Enable seamless trading by leveraging an active global community of traders and market makers to enhance liquidity and market participation.
- As part of their use case under Project Guardian, the parties also plan to introduce the world’s first tokenised Shariah-compliant private credit fund for an innovative private income product
Alta Exchange (“AltaX”), a leading private market digital securities exchange in Asia; Phillip Securities Pte. Ltd (“PSPL”), a member of PhillipCapital; and leading global private markets investment management firm Hamilton Lane (Nasdaq: HLNE) today announced their collaboration in Monetary Authority of Singapore’s Project Guardian, a collaborative initiative between policymakers and the financial industry to enhance the liquidity and efficiency of financial markets through asset tokenisation.
Alongside joining Project Guardian, the three firms are collaborating on a use case aiming to broaden access to the tokenised version of Hamilton Lane’s Senior Credit Opportunities (“SCOPE”) Fund listed on AltaX, which launched in March of 2023. SCOPE is an all-weather senior private credit evergreen vehicle intended for investors seeking potential safety and yield.
Tokenising and listing SCOPE on AltaX marked the completion of the first of two strategic phases for the partnership. Phase one gave accredited and institutional investors the ability to manage their risk exposure dynamically, respond to market conditions with agility and seamlessly engage with a global community of active traders and market makers, thereby enhancing liquidity and market depth.
Phase two aims to look at other ways to broaden access to private credit, including by exploring the potential to introduce the world’s first Shariah-compliant tokenised private credit fund, with the aim of serving the underserved and rapidly growing global Islamic funds market.
“In today’s financial landscape, fixed income vehicles often lack short-term liquidity and accessibility, particularly for those seeking smaller investment opportunities. This restricts efficient capital allocation and hinders a more agile approach to portfolio management. At AltaX, we are committed to breaking down these barriers. Leveraging blockchain technology and our extensive network, we’re transforming the way global investors access alternative assets. Our collaboration with Hamilton Lane and PSPL underscores our commitment to financial inclusivity, expanding market reach, and enabling a diverse range of investors to participate in the growing private credit market,” said Kelvin Lee, Co-founder and CEO, Alta.
Victor Jung, Head of Digital Assets at Hamilton Lane, said: “We’re excited to partner with AltaX and Phillip Securities under Project Guardian, collaborating on a use case that focuses on tokenising our SCOPE Fund. We are focused on continuing to innovate around this offering, opening doors to investors of all types and fostering a more inclusive financial ecosystem. In our view, this collaboration is poised to have a significant impact on private credit and the broader private markets landscape.”
Mr. Luke Lim, Managing Director of Phillip Securities, said: “We are excited to be at the forefront of financial innovation through our collaboration with AltaX and Hamilton Lane under Project Guardian. This partnership represents an exciting frontier for Phillip Securities as we continue to innovate and develop new investment products for our clients. By combining our expertise and resources, we are able to bring cutting-edge solutions to meet the evolving and diverse needs of sophisticated investors. This is just the beginning, and we look forward to the significant impact this collaboration will have on expanding opportunities for investors globally and working together towards a sustainable digital asset ecosystem.”
Alta is committed to tackling the challenge of private market illiquidity with its accessible, efficient, and secure exchange platform. In acknowledgment of those efforts, Alta has recently been named as a 2024 Technology Pioneer by the World Economic Forum. Alta’s technology-powered initiatives are transforming the financial landscape by empowering a diverse array of investors to engage in alternative investments and the firm believes that broadening access to capital markets is crucial for fostering sustainable growth and generating new opportunities for communities globally.
About Alta
As the leading licensed digital securities exchange for alternative investments in Asia, Alta is building critical capital market infrastructure backed by the most active securities brokerages and bookrunners on the Singapore Exchange – Phillip Securities, PrimePartners and Nomura Holdings (Japan).
Empowering Private Markets: Through its digital securities exchange, Alta enables the tokenisation and digital custody of alternative assets. This end-to-end solution simplifies and expedites the trading of smaller asset blocks, ultimately facilitating access and liquidity in private markets. Access to capital markets is pivotal in all economies, and Alta believes that its role in building this critical infrastructure goes beyond facilitating trades; it paves the way for entrepreneurship, job creation, financial inclusion, and economic resilience, fostering a brighter future for emerging markets and economies.
Innovative Financial Ecosystem: Alta’s journey has seen it transition from securities trading and distribution of comprehensive products, including equities, private credit, funds, and asset-backed securities representing real world assets like whiskies, wines, to include fund management and digital custody.
Find out more on https://alta.exchange/
About Hamilton Lane
Hamilton Lane (Nasdaq: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 700 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has over $920 billion in assets under management and supervision, composed of more than $124 billion in discretionary assets and approximately $796 billion in non-discretionary assets, as of March 31, 2024. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies.
For more information, please visit our website or follow Hamilton Lane on LinkedIn.
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About Phillip Securities
A member of PhillipCapital, Phillip Securities Pte Ltd offers a comprehensive suite of financial products and services including broking in securities, futures, foreign exchange, bonds, precious metals and commodities, unit trusts, contracts for difference, exchange-traded funds, fund management, managed accounts, insurance planning, regular savings plan, investment research, equity financing and property consultancy. Institutions can also benefit from our corporate finance and advisory services as well as information technology solutions.
Since its inception as a stockbroker in 1975, PhillipCapital has grown into an integrated Asian financial house with a global presence and offers a full range of quality and innovative services to retail and high-net-worth individuals, family offices, as well as corporate and institutional customers. In 1996, Phillip Securities became the first retail broker to launch POEMS, an online trading platform and changed the way investors trade in Singapore.
Today, PhillipCapital headquartered in Singapore, operates in the financial hubs of 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), India, Indonesia, Japan, Malaysia, Singapore, Spain, Thailand, Turkey, UK, UAE, USA and Vietnam, serving over 1 million clients with Assets Under Management of total more than USD 50 Billion.
Find out more about us here https://www.phillip.com.sg/ and our award-winning trading platforms here https://www.poems.com.sg/
