Figure Technologies and Hamilton Lane have plans to launch three new share classes of Hamilton Lane's private markets-focused fund registered under the Investment Company Act of 1940 that digitize the fund share ownership record on the Provenance Blockchain using Figure's Digital Fund Services (DFS) platform.
Hamilton Lane's expected launch of the new share classes also marks the first time a firm has provided exposure to a private markets investment strategy under the 1940 Act through a blockchain-native share class, and is its latest significant step in transforming and reducing inefficiencies within the private markets industry.
As a 1940 Act registered fund, Private Assets Fund (PAF) will be available to qualified U.S. investors, including accredited individual investors, wealth advisers and institutions. It provides access to a diversified portfolio of private equity and private credit assets through a single investment — either through the traditional primary i