Beneficient closes initial series of liquidity transaction financings

Beneficient announced key milestones and liquidity transaction financing closings sourced through its expanding Preferred Liquidity Provider Program for general partners. As a result of recent increased participation in the PLP Program, Beneficient has now executed PLP Program agreements with 19 separate alternative asset funds having an aggregate of $1.5 billion in committed capital across various asset classes, vintage years and fund sizes, which represents an increase of approximately $1.2 billion in committed capital from the 7 alternative asset funds that were participating as of January 22, 2023. Under the PLP Program, Beneficient has financed nearly $10 million of liquidity transactions, including today’s announced successful closing of $2 million, to limited partners of these participating funds who were looking for an early exit solution. Each of the 19 separate alternative asset funds participating in the PLP Program and their collective 1,300 limited partners may utilize AltAccess, Beneficient’s innovative customer-focused SOC 2 Type 1, SOC 2 Type 2, and SOC 3 certified technology platform, to digitize their alternative assets in order to explore early exit opportunities financed by Beneficient. The PLP Program provides alternative asset general partners, the investment funds they advise and their limited partners an opportunity for enhanced reporting and trust and custodial services, as well as early exit capabilities for their illiquid alternative investments financed by Beneficient. As a strategic, enterprise-wide initiative, the PLP Program also seeks to provide a wide range of financial services firms, including fund sponsors and wealth managers, the opportunity the to engage directly with AltAccess to create a turnkey, private-labeled experience for their customers and investors. Transactions pursuant to the PLP Program may be efficiently closed through our AltAccess platform, which provides customer proposals for liquidity in a secure online environment that is subject to ongoing oversight by our subsidiary’s state banking regulators.