Walkers has advised Figure Markets as Cayman Islands counsel on the launch of its first Cayman Islands fund. Figure Markets is built on the Provenance Blockchain and Figure Markets Real World Asset Fund, LP represents the rise in tokenised funds, issuing interests in tokenised form using the Provenance Blockchain. This launch will further cement Cayman's reputation for embracing innovation.
Figure Investment Advisors, LLC, the investment advisor, will employ an income generating strategy for the fund, by investing in principal protected interest bearing securities, mainly focused on mortgage securities.
Figure Markets Real World Asset Fund, LP is led by Michael Abbate, a former Managing Partner at NovaWulf Digital Management, and Chief Operating Officer Laurie Katz.
Cole-Frieman & Mallon LLP acted as U.S. counsel to Figure Markets. The Walkers team advising on the Cayman law elements of the launch was led by partner Martin Davies, and included partners Lucy Frew and Melissa Lim, and associates Bethany Oakley and Charlie Griffiths.