Beneficient Announces Enhanced AltAccess Platform With New Machine-Automated Pricing System
DALLAS, Aug. 12, 2024 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company, is excited to announce the latest advancements to its fintech platform, AltAccess®. The new release of AltAccess introduces the Machine-Automated Pricing System (“MAPS”), which incorporates Ben’s formula-based pricing model for qualified fiduciary financings and is engineered to optimize dynamic pricing and real-time net asset valuations of alternative assets allowing for the rapid processing of liquidity transactions.
Technical Enhancements for AltAccess
The integration of MAPS into the AltAccess platform marks a significant upgrade. MAPS offers enhanced algorithmic capabilities designed to handle a higher volume of the Company’s liquidity and primary capital transactions with greater efficiency for alternative asset sponsors and investors. MAPS leverages current private market metrics and public market conditions to deliver dynamic and automated pricing. This development is expected to more rapidly deliver pricing of qualified fiduciary financings and enable our customers to achieve earlier liquidity from their alternative assets or secure primary capital solutions during their fund raising while fostering increased confidence and transparency in the transaction process.
Accelerated Transaction Processing
Historically, Ben’s AltAccess platform offered an industry-leading time-to-close for liquidity transactions, reducing the process to as few as 30 days compared to as long as 15 months or more from secondary liquidity competitors. With MAPS, this period is expected to be further reduced to potentially 15 days or less. This acceleration from the industry standard of up to 15 months to 15 days is anticipated to significantly enhance Ben’s operational capacity, which would enable us to scale the delivery of liquidity and primary capital solutions for a diverse range of alternative assets, including private equity, venture capital, credit, infrastructure, and real assets. Further, MAPS can deliver pricing on a broad range of alternative asset vehicle types including closed-end funds, feeder funds, fund-of-funds, and evergreen funds, among others.
Advanced Capabilities of MAPS
MAPS implements Ben’s new formula-based pricing system, which is engineered to dynamically adjust based on a broad spectrum of inputs. These include the latest private market metrics and public market data. This innovation is designed to provide customers with up-to-date and precise valuations generated through a consistently applied methodology, streamlining their decision-making processes.
Strategic Implementation
The initial rollout of MAPS is expected to include Ben’s General Partner (“GP”) Solutions group, particularly the GP Primary Commitment Program. This strategic move is expected to enhance our capability to offer compelling primary capital solutions and efficiently close strategic liquidity or restructuring transactions for GPs. The GP Primary Commitment Program is focused on providing primary capital solutions and financing anchor commitments while immediately deploying capital into our equity to General Partners during their fundraising efforts.
Market Impact and Future Plans
Ben’s commitment to innovation through AltAccess and its integration of MAPS is poised to address the approximately $400 billion in market demand for liquidity restructuring solutions and primary capital. The enhanced platform aims to deliver secure, rapid, and transparent transactions, reinforcing Ben’s position as an innovator in the alternative asset liquidity market.
Following the initial deployment, Ben plans to extend the MAPS capabilities through AltAccess across other target markets, including mid-to-high net worth individuals, small-to-midsized institutions and the advisors and consultants that work with these investors. This expansion is expected to further diversify and enhance Ben’s product offerings, with the goal of delivering significant value to both our customers and stockholders while meeting a large and rapidly growing industry demand for regulated, tech enabled solutions that make investing in, reporting on and exiting alternative investments more frictionless.
“Ben plans to continue seeking new tools to implement that would facilitate the availability of additional relevant data, information and transparency for our customers. By incorporating the use of machine-automated processes and our extensive access to market data, MAPS is designed to integrate and automate what were previously time-and-resource-intensive processes, to make information more readily accessible to holders of alternatives assets and GPs seeking primary capital financing solutions,” said the Company.
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 and primary capital solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal featuring its MAPs capabilities to digitize their alternative assets in order to explore early exit opportunities, receive proposals 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 us on LinkedIn.
Contacts
Matt Kreps: 214-597-8200, mkreps@darrowir.com
Michael Wetherington: 214-284-1199, mwetherington@darrowir.com
Investor Relations: investors@beneficient.com
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
Certain 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 can be 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 and primary capital solutions 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 (the “SEC”). 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.
No Offer or Solicitation
This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Securities to be issued pursuant to Ben’s liquidity and primary capital solutions transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
