New Public Access to Online Platform Provides
Range of Digital Custody and Liquidity Solutions for Holders of
Alternative Assets Seeking Secure, Rapid and Cost-Effective Early
Exits
Company Also Launches AltQuote™ as Part of
AltAccess® Online Platform, a Complete Web-based Tool for Rapid
Liquidity Pricing of Illiquid Alternative Assets
Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a
technology-enabled platform providing liquidity and related trust
and custody services to holders of alternative assets, today
announced the public launch of 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® 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©TM and AltQuote©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.”
Additional Details
For additional information AltAccess and AltQuote, visit their
respective webpages at:
- AltAccess: https://benaltaccess.beneficient.com/signin
- AltQuote:
https://benaltaccess.beneficient.com/trustben-altquote
About Beneficient
Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to
democratize the global alternative asset investment market by
providing traditionally underserved investors − mid-to-high net
worth individuals and small-to-midsized institutions − with early
liquidity exit solutions that could help them unlock the value in
their alternative assets. Ben’s AltQuote™ tool provides customers
with a range of potential liquidity exit options within minutes,
while customers can log on to the AltAccess® portal to digitize
their alternative assets in order to explore early exit
opportunities, receive proposals for liquidity in a secure online
environment, engage custodial services for the digital alternative
assets and receive data analytics to better inform investment
decision making.
Its subsidiary, Beneficient Fiduciary Financial, L.L.C.,
received its charter under the State of Kansas’ Technology-Enabled
Fiduciary Financial Institution (TEFFI) Act and is subject to
regulatory oversight by the Office of the State Bank
Commissioner.
For more information, visit www.trustben.com or follow on
LinkedIn.
Forward-Looking Statements
Some of the statements contained in this press release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are generally identified by the use of words such as
"anticipate," "believe," "could," "estimate," "expect," "intend,"
"may," "plan," "potential," "predict," "project," "should,"
"target," "will," "would" and, in each case, their negative or
other various or comparable terminology. These forward-looking
statements reflect our views with respect to future events as of
the date of this document and are based on our management's current
expectations, estimates, forecasts, projections, assumptions,
beliefs and information. Although management believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that these expectations will
prove to have been correct. All such forward-looking statements are
subject to risks and uncertainties, many of which are outside of
our control, and could cause future events or results to be
materially different from those stated or implied in this document.
It is not possible to predict or identify all such risks. These
risks include, but are not limited to, our ability to consummate
liquidity transactions on terms desirable for the Company, or at
all, and the risk factors that are described under the section
titled "Risk Factors" in our Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K, and other
filings with the Securities and Exchange Commission. These factors
should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in this document and in our SEC filings. We expressly disclaim any
obligation to publicly update or review any forward-looking
statements, whether as a result of new information, future
developments or otherwise, except as required by applicable
law.
Important Disclosures
Liquidity exit strategies offered may not include all options
and may vary over time; all exit options, including historic
options such as cash, may not be available or offered to
prospective customers at any given time; your options may differ.
Exit options are presented on a case-by-case basis in Ben’s
discretion and may be offered for less than current net asset value
based on a variety of factors, including asset-specific factors
such as Ben’s valuation analysis. References to “liquidity”
generally refers to an opportunity offered by Ben to exit an
investment in an illiquid asset. Ben can discuss with prospective
customers what options may be currently available, including based
upon the specifics of such customer’s situation and illiquid
assets.
These materials do not constitute an offer to sell or the
solicitation of an offer to buy securities. Any offer or sale of
securities shall be made solely to accredited investors and solely
pursuant to a definitive confidential private placement memorandum
and related documents, including definitive subscription
materials.
Ben does not provide investment advisory services or tax,
accounting or legal advice. The products and services described on
this herein may not be suitable for all persons and you should
consult with your legal, tax or other advisors prior to taking any
action relating to the subject matter contained here.
Ben’s products and services are not insured by the FDIC or any
other government agency, are not guaranteed by Ben or its
subsidiaries or affiliates, may lose value, and are not a Bank
deposit.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230717554997/en/
Investors:
investors@beneficient.com
Media: Longacre Square Partners
Greg Marose / Dan Zacchei beneficient@longacresquare.com
Beneficient (NASDAQ:BENF)
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