Trackers
Guernsey PCC - Luxembourg Securitisation Vehicle - Jersey PCC - Irish Section 110 Company
Tracker Certificates
Private Equity and off-shore funds - accessible without Subscription Docs nor share purchase agreements.
Overview
What it is and how it works.
Tracker Certificates transform traditionally illiquid private equity investments and complex offshore fund structures into regulated, bankable securities. Trackers provide institutional and professional investors with efficient access to primary and secondary private equity opportunities, while facilitating feeder structures into Cayman, Delaware, and other fund vehicles.
By eliminating subscription documents, share purchase agreements, and cap table onboarding, managers and target companies benefit from a streamlined, bankable ISIN-based solution.
Structure & features
How the Trackers is built.
- Segregated and ringfenced issuance
- Chose between Guernsey or Jersey protected cell, Luxembourg compartment, or Irish Section 110 SPV.
- CH / FL / XS-ISIN, private placement
- Settled through Clearstream / Euroclear.
- Bought through existing custodian/private bank
- NAV calculated on a regular basis
- Reported to SIX based on the underlying's revaluation cadence.
- Liquidity defined by the manager
- Notice period available; secondary market on a best-effort basis.
- Unlimited number of investors
- Institutional / Professional only, minimum investment of CHF / USD / € 10,000
- Listing + quotation
- Vienna Stock Exchange (3rd market) listing and Bloomberg quotation available.
Why it works
Main advantages.
Pool investors into any fund structures
Cayman, Delaware, or other vehicles - all accessed via a single bankable ISIN.
Club deals and co-investments into Private Equity made easy
Family offices and IAMs can participate cleanly through one instrument.
No SPAs, no Sub Docs, no KYC/AML on end investors
Subscription documents and onboarding are handled once at the cell level, dramatically reducing onboarding friction.
One name on the cap table - one fund onboarding
Only the issuer appears on the cap table / fund documents - the asset manager keeps voting rights.
Liquidity creation built in
Secondary market activity is supported on a best-effort basis.
Primary or secondary transactions
Capital raises and secondary transfers are both supported.
Build a basket of private market funds (FoF) or Private Equity Portfolio
Wrap multiple positions into an AMC for portfolio exposure - Fund basket / buy-and-build strategy
Trackers whitepapers
Read the deep-dives.
Tracker Certificate — Private Equity
Streamlined investment vehicle that turns illiquid private equity into a regulated, bankable security. Pool investors, attract co-investments, voting rights remain with the asset manager.
Tracker Certificate — Fund Feeder
Bankable ISIN feeder access into Cayman, Delaware, and other fund structures. Combine investors to clear high investment thresholds; only one investor onboarded by the fund.
Actively Managed Certificate on Private Equity Baskets
Packaging a diversified basket of private equity targets into a single, bankable, ISIN-listed product. From traditionally illiquid to conventional securities.
Actively Managed Certificate on Unlisted Fund Baskets
Package a diversified basket of semi-liquid offshore fund opportunities into a bankable, bookable and investible product, bridging the gap between traditionally illiquid funds and the accessibility of conventional securities.
More products
All products →CLN
Credit Linked Notes
Transform private debt into a regulated, bankable security. Give investors efficient access to private credit while simplifying the process for borrowers and eliminating loan documentation and KYC overhead for end investors.
ETP / ETN
Exchange Traded Products
Exchange-listed, daily-quoted access to bankable asset baskets.
Start the conversation
Let’s talk about your Trackers.
Tell us what you’re working on. We will walk you through the structure that fits.