TMCnet News
YieldStreet Launches YieldStreet Prism FundYieldStreet, the digital wealth management platform, today announced the launch of the YieldStreet Prism Fund (the "Fund"), a closed-end fund sub-advised by BlackRock, the world's largest asset manager. The Fund spans a broad investment universe, offering investors access to a combination of liquid and illiquid assets. The liquid multi-asset sleeve will be managed by BlackRock with YieldStreet running the private assets. The Fund has exposure to a range of sectors, including real estate, shipping and marine finance, legal finance, art finance, and commercial loans, aiming to deliver consistent total return through complementary asset classes. "YieldStreet is at the forefront of creating unique investment opportunities, providing investors with the potential for a consistent source of return in today's low yield environment," said Michael Weisz, Founder and President of YieldStreet. "We are thrilled to be teaming up with BlackRock in providing investors a diversified income product." "We are excited to partner with YieldStreet on the launch of the YieldStreet Prism Fund. By combining BlackRock's expertise in fixed income investing with YieldStreet's technology know-how, this Fund provides investors with attractive opportunities beyond their usual sources of income," said Robert Stanley, Global Head of Fixed Income Product Strategy at BlackRock. "YieldStreet is committed to creating income-generating investment opportunities, helping investors diversify their portfolios and fuel their ambitions," said Milind Mehere, Founder and CEO of YieldStreet. "This partnership with BlackRock, along with our recent Citi announcement, are just the beginning of the exciting things that we have planned for 2020." Find out more about the YieldStreet Prism Fund HERE. Since inception, YieldStreet has fundd more than $1.3B of investments on its platform. This news also comes on the heels of a recent partnership announcement between YieldStreet and Citi to offer Citi assets to YieldStreet investors over the next two years. YieldStreet also completed 2 acquisitions in 2019, Athena Art Finance from The Carlyle Group and digital IRA platform WealthFlex.
About YieldStreet
About BlackRock
For the avoidance of doubt, the YieldStreet Prism Fund is a non-diversified closed-end fund for purposes of the Investment Company Act of 1940, as amended ("40 Act"), and is therefore not a 40 Act "diversified" product. Investors should carefully consider the investment objectives, risks, charges and expenses of the YieldStreet Prism Fund before investing. The prospectus for the YieldStreet Prism Fund contains this and other information about the Fund and can be obtained by emailing [email protected] or by referring to www.yieldstreetprismfund.com. The prospectus should be read carefully before investing in the Fund. Investments in the Fund are not bank deposits (and thus not insured by the FDIC or by any other federal governmental agency) and are not guaranteed by YieldStreet or any other party. The Fund is not offered for sale in Nebraska, North Dakota and Texas at this time. View source version on businesswire.com: https://www.businesswire.com/news/home/20200218005261/en/ |
