Real estate investment manager LRC Group is launching a blockchain native fund on Goldman Sachs’ GS DAP distributed ledger platform, with Archax as custodian and initial distribution partner.
The fund itself operates through a fairly conventional Luxembourg structure. Apex Group’s Fundrock LIS subsidiary acts as the regulated alternative investment fund manager (AIFM), while other Apex entities provide fund administration, depositary services and banking. LRC, which manages around €3.6 billion ($4.2bn) in assets, handles the investment decisions and portfolio management. In other words, it is a standard third party management company (ManCo) arrangement where the fund units happen to be issued onchain rather than held in a traditional register.
Archax provides custody for the digital securities and will serve as the first distribution channel. Connectivity between participants is handled by Ownera, which provides interoperability via a conventional routing layer that sidesteps the need for blockchain bridges. LRC Group is an investor in Ownera.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
