Bonds

Private bonds, digitally administered.

Access selected fixed-income opportunities through a controlled digital investment experience, with contractual terms defined for each issuance.

What this gives you access to

Defined terms, selected strategies, one administrative experience.

Contractual terms

Income and terms are defined for each issuance in its own documentation — coupon, frequency, term and conditions are set out there, issuance by issuance.

Selected strategies

Access to selected strategies connected to real assets, each reviewed before it is presented to eligible investors.

Digital administration

Digital subscription and position administration, supported by complete legal documentation for the relevant issuance.

Why blockchain matters

The efficiency of digital infrastructure. The substance of a legally documented bond.

Traceable ownership
A clear, time-stamped record of investor positions and of the relevant transactions, auditable by the parties entitled to consult it.
Efficient administration
A more streamlined experience across subscription, documentation and ongoing position management, with fewer manual steps.
Controlled access
A permissioned environment: only verified and authorised participants may hold or transfer a position.
Legally grounded
Blockchain supports digital administration. Investor rights remain governed by the bond documentation and by the issuer's official register.

A permissioned ledger makes records auditable and tamper-evident. It does not remove issuer risk, does not create liquidity and does not replace the legal documentation of an issuance.

Close-up of a secure digital infrastructure interface used to administer investor positions

Bond opportunities

A European private debt strategy.

Each opportunity is presented on its own terms and remains subject to its final issuance documentation.

  • Facade of a European residential and office building of the kind financed by real estate private debt

    Real estate

    European Real Estate Private Debt

    A fixed-rate bond giving access to a diversified portfolio of senior secured private real estate debt across Europe.

    • 10.5% p.a. fixed coupon under the terms of the notes
    • Semi-annual distributions
    • 5-year term
    • European real estate private debt
    • Senior secured strategy
    • Pan-European scope

How access works

Four steps, from eligibility to your position.

  1. 01

    Verify your eligibility

    Identification and eligibility checks are completed before any documentation is shared.

  2. 02

    Review the bond documentation

    Terms and conditions, risk factors and the issuance documentation of the specific bond.

  3. 03

    Subscribe digitally

    Subscription is completed through the platform, with the signed documentation attached to it.

  4. 04

    Track your position through Altherum

    Positions, documents and administrative events are consultable in one place.

Eligibility and KYC/AML checks take place through Altherum and are independently confirmed by the relevant issuer. Blockchain supports digital administration and traceability, while the issuer's official register and the issuance documentation remain legally authoritative.

Legal and digital framework

Who performs the checks, and who confirms them?

Eligibility and KYC/AML checks take place through Altherum and are independently confirmed by the relevant issuer before a subscription is accepted.

How do the two registers relate to each other?

The permissioned blockchain records positions and transactions for administration and traceability. The issuer's official register, maintained off-chain, remains legally authoritative, together with the issuance documentation. The two are kept aligned; where they differ, the official register prevails.

What exactly does the digital record represent?

A digital record of a bond position. It is not a cryptocurrency and it is not a bearer instrument: rights arise from the bond and from the documentation of the specific issuance, not from the technology used to administer it.

Eligibility and risk

Reserved to professional investors.

Access is reserved to professional investors within the meaning of applicable regulation. Eligibility is verified before any documentation is provided.

This page is not an offer to sell or a solicitation to buy any security, and it is not directed at retail investors or at persons in jurisdictions where such communication would be unlawful. Any decision must be based exclusively on the documentation of the relevant issuance.

Investment involves risk. A bond position may be illiquid, and neither capital nor income is guaranteed. Past performance is not indicative of future results.

FAQ

Questions we are asked most.

General information only. For any specific opportunity, the transaction documentation reviewed with each eligible investor prevails.

  • Eligible investors, once identification and eligibility checks have been completed and independently confirmed by the relevant issuer. Documentation is provided on request and is not published on this website.

Next step

Request access to the documentation.

If you qualify as a professional investor, we will verify eligibility and share the documentation of the relevant issuance, including the terms and conditions and the risk factors.