New Partnership with ClearList Will Create Unique Liquidity Access to Private Company Securities
New York, NY, June 9, 2020
ShareNett Holdings LLC (“ShareNett”), a private members-only investment platform built by and for family offices, today announced a distribution partnership with ClearList Holdings LLC (“ClearList”). The partnership will create a seamless digital ecosystem that will transform price discovery of private securities and provide access to liquidity and risk management by facilitating smoother transitions to direct listings or public offerings for private companies and assets.
The partnership represents the latest phase of ShareNett’s strategy to become the leading regulatory compliant distribution platform for illiquid investment opportunities across asset classes.
“ShareNett is creating a super-distribution hub that will level the playing field for family offices by giving them unique access to appealing investment opportunities across the entire spectrum of private assets,” said Clifford H. Friedman, Chairman & CEO of ShareNett. “ShareNett has developed a robust institutional solution that provides a path for families to overcome the inherent challenges of seeking primary and secondary liquidity in private markets.”
Partnerships with ClearList and GTS
ShareNett is collaborating with GTS Securities LLC (“GTS”) on the launch of the ClearList initiative, where GTS will make capital commitments for ClearList to facilitate liquidity, a first in the trading of private market securities. GTS is a leading electronic market maker across global financial instruments, as well as the largest Designated Market Maker (“DMM”) at the New York Stock Exchange (“NYSE”) and the number-one DMM for IPOs at the NYSE for five years running. Its expertise in creating liquidity and developing market infrastructure will bolster the platform capabilities.
ClearList will provide real-time, transparent price discovery for private companies to develop a liquid market for their private securities. A major differentiator of the platform is that similar to public exchanges, ClearList will help create liquid markets for private securities and thereby provide true price discovery. ShareNett is a primary distribution platform for family offices and ultra-high-net-worth individuals, as well as institutional investors to access ClearList.
Friedman said, “The ShareNett partnership with ClearList is a transformative initiative that is going to solve a significant unmet need for ShareNett’s members, which is to provide liquidity for the private securities in their portfolios. Our ClearList partnership creates one of the only WealthTech platforms for investors and private company issuers wanting to both buy and sell private securities in an institutional and regulatory compliant ecosystem.”
Bill White, the CEO of ClearList, said the partnership with ShareNett provides a “superior and intelligent way to discover, access and source from an expansive investor base. We couldn’t be more excited about our partnership with ShareNett and providing its membership with a new and innovative model to buy and sell private securities with an embedded liquidity provider.”
Regulatory Compliant Onboarding
ShareNett’s affiliate, Trellis Software Inc. (“Trellis”), will provide a platform of services to the partnership that supports regulatory-compliant processes from onboarding through custody and settlement.
Tim Krochuk, the CEO of Trellis, said, “Trellis services facilitate seamless onboarding of new clients and help streamline the normally cumbersome process of private transaction diligence and execution.”
These services, including the Trellis Digital ID, Digital Locker and Digital Data Room, are embedded into the operations of the ShareNett and ClearList partnership.
ShareNett connects and empowers its members-only network of 400-plus family offices and ultra-high-net-worth individuals around the world with unique investment solutions to sustain and expand wealth over multiple generations. ShareNett members collaborate on curated, institutional grade investment opportunities across the global spectrum of private security asset classes.