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Beneficient launches digitized custody and liquidity platform

Tuesday, July 18, 2023
Opalesque Industry Update - Beneficient (Ben), a technology-enabled platform providing liquidity and related trust and custody services to holders of alternative assets, has publicly launched AltAccess, which is its flagship platform that allows those holders to accelerate the monetization of otherwise illiquid holdings through a secure, rapid and cost-effective online process. Liquidity, the Ben(R) Way, means that investors can exit their alternative assets, based on their individual needs, through cash, equity or debt securities.

Brad Heppner, Founder, Chairman and Chief Executive, commented: "For too long, holders of alternative assets have been deprived of reliable, transparent and cost-effective options when they want early liquidity. Our AltAccess platform has been built to address this challenge head-on by providing investors with a simple, tech-enabled solution for early exits. Rather than acting as a marketplace often plagued with inefficiencies, Ben operates its liquidity business through a subsidiary trust company that conducts standardized fiduciary financial transactions designed to mitigate the need for expensive intermediaries and is regulated and examined by the Office of the State Bank Commission of Kansas."

Along with opening AltAccess to the public, Ben is also launching AltQuote, a web-based tool for rapid pricing of professionally managed alternative assets. With a database of more than 57,000 funds, AltQuote can generate an indicative quote in minutes for investors looking to understand the value they may obtain in an early exit.

Mr. Heppner added: "Historically, investors' primary avenue for accessing liquidity has been through the secondary market, which caters to the largest institutions and employs M&A-like transactions involving many intermediaries, time-consuming negotiations, and expensive costs and fees. Ben is seeking to democratize the process with the launches of AltAccess(C)TM and AltQuote(C)TM. Built primarily for individual investors, wealth management advisors and general partner fund sponsors, as well as smaller institutional investors, the platform provides the ability to manage all aspects of an early exit, including custody requirements in one online digital dashboard."

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