The $491 billion Health Care Strategic Growth Fund II (HCSG II) of asset management business KKR will be tokenised on the Avalanche blockchain by digital asset company Securitize Capital, as reported by Cointelegraph.
According to Cointelegraph, on September 13, KKR announced the information. The head of Securitize Capital, Wilfred Daye, called the tokenisation of HCSG II a “major breakthrough” for private equity market access.
A $4 billion healthcare-focused fund that invests in 23 North American and European businesses involved in the pharmaceuticals, medical device, and life sciences industries can now be owned by investors thanks to tokenisation. Each token represents a part of the fund.
Investors must submit their passports, complete personal and tax information forms, and successfully complete a “liveness check” in order to invest in the HCSG II Fund on the Securitize protocol. Additionally, investors must pay a management charge of 0.50 percent.
The tokenisation of the HCSG II Fund, according to Ava Labs’ founder and CEO Emin Gün Sirer, represents a “major milestone” for the blockchain sector by allowing “real world assets” to migrate on-chain.
On-chain tokenisation of physical assets “reduces investment minimums, enhances digital investor onboarding and compliance standards, and raises possibilities for liquidity through a regulated alternative trading system,” according to KKR.
On-chain tokenisation of physical assets “reduces investment minimums, enhances digital investor onboarding and compliance standards, and raises possibilities for liquidity through a regulated alternative trading system,” according to KKR.
(With insights from Cointelegraph)
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