The SEC application would allow ARK-advised funds to add exchange-listed and tokenized share classes, giving investors another way to access the secondary market.
We examine the proposed interval fund's strategy, share structure, and liquidity terms, including its planned Texas Stock Exchange listing.
The alternative investment manager has requested SEC approval for exchange-listed and tokenized share classes across three of its GP stakes and broader private markets funds.
The SEC application follows similar relief granted to ARK Venture Fund last month and could give investors additional liquidity outside scheduled repurchase offers.
The registered interval fund is designed to give investors, regardless of accreditation status, exposure to the long-term growth of private asset managers.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
The deal brings Bow River's $1.3 billion fund onto Apogem's platform alongside its GP-led, LP secondary, and GP stakes businesses.
The Ethereum-based share class follows SEC relief that gives investors in the interval fund another liquidity channel.
ARK has outlined plans to list Class X shares on the Texas Stock Exchange under ARKV and offer a separate tokenized class, providing investors with additional liquidity options.
The collaboration with LODAS Markets will first provide an additional liquidity pathway to investors of Harrison Street AM semi-liquid evergreen funds.
