Capital markets News

Hamilton Lane in credit fund tokenization as part of Project Guardian

hamilton lane altax phillip tokenized funds

Hamilton Lane, one of the most prolific asset managers in the tokenization space, is participating in Singapore’s Project Guardian trials. It’s partnering with AltaX, the digital securities exchange and Phillip Securities (PSPL), part of Phillip Capital.

Project Guardian has supported 24 regulated institutions as part of its tokenization trials. The project includes the participation of regulators from Singapore, the UK, Switzerland and France, and global financial trade associations.

The initial phase involved the tokenization of Hamilton Lane’s Senior Credit Opportunities (“SCOPE”) Fund and listing it on AltaX. The listing means that accredited and institutional investors can buy and sell their SCOPE tokens on the exchange.

In the second phase, the parties will look at creating a Shariah-compliant tokenized private credit fund to appeal to the 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,” said Kelvin Lee, Co-founder and CEO, Alta.

“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.”

Phillip Securities and Nomura are both investors in AltaX. The company acquired Hg Exchange in 2022, in which the two brokers were investors. AltaX was formerly known as FundNel.

Hamilton Lane’s tokenization track record

Hamilton Lane is also a partner in another Nomura investment, Libre, the fund tokenization protocol in which Nomura’s Laser Digital is a co-founder. While the asset manager has some tokenization initiatives at home in the U.S. with Securitize and Figure, more recently it’s been exploring international initiatives. A recent one included the issuance of a natively digital share class in the Luxembourg-based Global Private Assets (GPA) Fund.