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• Morgan Creek Capital Management LLC secured a $40 million investment with a Pension Fund.
• Fairfax County Retirement Systems and Virginia Pension Funds are the two institution which have made the deal with Morgan Creek.
• They have also piloted a Blockchain-based start-up called RealBlocks that aims to tokenize the real estate industry in the region.
Morgan Creek Capital Management, LLC is a SEC-registered investment adviser providing investment management services to institutions and wealthy families. The LLC provides a customized investment solution to clients in need of a targeted investment program. Morgan Creek Capital has also partnered with BitWise Asset Management to provide access to digital assets for institutional clients.
The institutional investments like Pension Funds, Insurance Funds, Student endowments and so on have been generally weary of investing in Blockchain and Cryptocurrencies. This the first time in the history of cryptocurrencies that a pension fund has formally invested in blockchain-based funds. Others investors with the LLC include an insurance company, a university endowment and a private foundation.
The Virginia pension funds is one of the funds that has decided to assign some percentage of its investment to digital assets.
Anthony Pompliano, the co-founder of the Morgan Creek Capital Management, LLC claimed that the digital funds provided by his company resemble the traditional funds in terms of contract and security. The fund will also hold a small percentage of its value in decentralized cryptocurrencies, such as Bitcoin, Ethereum and XRP.
According to A. Ponpliano, Fairfax County Retirement Systems manages three pension funds and two of them have invested with Morgan Creek Digital. Katherine Molnar, chief investment officer of one of the funds, said in a statement that blockchain technology, which was first developed to record the movement of Bitcoin, is an “emerging opportunity” that offers an “attractive asymmetric return profile.’’
Morgan Creek Digital has recently also joined a group of investors to fund a new blockchain startup called RealBlocks. The company shall allow investors to buy micro-shares of real estate while giving firms a brand new way to raise capital with the help of tokenized securities.
CEO of Morgan Creek, Anthony Pompliano is a strict believer that tokenization is the way of the future and shall take over the financial market as more troublesome structures, such as fiat currencies and gold, get replaced.