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Nasdaq Fund Secondaries, LODAS Markets Complete First Interval Fund Auction with Harrison Street Private Wealth

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91% of Harrison Street Real Estate Fund (VCMIX) shares offered were sold to secondary buyers;
Harrison Street Real Assets Fund (VCRRX) auction expected to launch October 2

MISSION, Kan., Oct. 2, 2026 /PRNewswire/ — LODAS Markets, together with Nasdaq Private Market’s (NPM) Nasdaq Fund Secondaries (NFS) business, and Harrison Street Private Wealth (“Harrison Street”), a division of Harrison Street Asset Management, today announced the successful close of their inaugural interval fund auction. 

Due to the auction’s success, a second auction—for the Harrison Street Real Assets Fund (VCRRX)—launches October 2

The auction, completed September 23rd in shares of the Harrison Street Real Estate Fund (VCMIX), is believed to be among the industry’s first intra-period auctions for interval fund shares. All purchasers were non-affiliated secondary buyers and the process was completed as designed across its three-week window, demonstrating a market-driven path to liquidity that complements the interval fund structure.

Auction highlights include:

91% of all shares offered were sold. This includes shares from sellers who set an asking price above the price where the auction ultimately cleared.Nearly 99% of shares with an asking price at or below the clearing price were sold at the seller’s asking price or better.41% of the shares sold received a better price than requested. Those sellers offered to sell at a 20% discount to net asset value (NAV) and instead sold at a 15% discount.Demand outpaced supply. Buyer bids exceeded seller asks, signaling investor appetite.

Building on the success of the first auction, a second auction, for Harrison Street Real Assets Fund (VCRRX) is expected to launch October 2, 2026. The collaboration aims to create a scalable foundation for alternative liquidity options across a broad range of interval funds and other semi-liquid investment vehicles.

Semi-liquid fund net assets approached $600 billion at the end of March 2026, up more than 120% from the end of 2022, according to Morningstar’s “The State of Semiliquid Funds 2026” report (June 16, 2026), driven by advisor and investor demand for private credit, real estate and other private market strategies. As the market has grown, so has the need for liquidity tools that work in evolving market conditions.

Interval funds allow investors to access private markets and other alternative strategies through a registered investment structure. While these funds offer periodic opportunities for repurchases, investors and financial advisors have limited options when liquidity needs arise outside scheduled repurchase windows. The collaboration among NFS, Harrison Street, and LODAS Markets, first announced on August 24, 2026, was designed to address this gap through a periodic auction process that gives investors greater liquidity flexibility while complementing the existing interval fund structure. The auction sits alongside the traditional repurchase program, giving investors an additional, market-based option that is designed not to come at the expense of long-term shareholders.

Additional Transaction Details:

Harrison Street was the first investment manager to authorize transfers of interval fund interests through this environment with LODAS acting as broker for the transactions and providing the technology for trading, clearing, and settlement, as well as access to its investor network. The auction was conducted through NFS and the Alternative Trading System (ATS) operated by its affiliate, NFSTX, LLC.Sellers and buyers each chose from a set of preset discounts to NAV, and all trades executed at a single clearing price, so every participant received the same transparent price. Because the auction moves shares directly from investors who want to sell to investors who want to own, no fund assets were sold to meet these trades. The fund did not have to sell property or draw on its liquidity, and shareholders who stayed invested were not affected by these trades.All trades in the auction have settled. Cash proceeds have been returned to sellers’ original custodial accounts, and tax reporting will be provided to participating sellers as required.

LODAS Markets CEO Brian King:

“We’re pleased with the success of this innovative auction, both from a technical and price discovery perspective. Approximately 41% of the shares sold received price improvement and the technology infrastructure operated as designed, matching and settling nearly every eligible sell order. We look forward to additional auctions in the near future to provide investors another path to liquidity.” 

Harrison Street Private Wealth division CEO Mark Quam:

“We’re pleased to see the success of the recent auction process, which we believe will lead to broader industry conviction and investment in interval funds. Investors can have varying investment horizons, and the recent auction provides investors in our interval funds with an additional voluntary option to manage their liquidity needs while preserving fund-level capital to optimize portfolio management for long-term shareholders.”

NPM Chief Operating Officer Andrew Kroculick:

“Our first auction shows what a transparent, well-designed process can deliver for interval fund shareholders. Executing more than 90% of the shares offered, with meaningful price improvement for a significant portion of the shares sold, validates the auction mechanics and the demand for liquidity options that work alongside scheduled repurchases. We’re excited to build on this result as we bring the model to additional funds.”

The auction is the first completed under NPM’s ownership of NFS. NPM acquired NFS from Nasdaq in September 2026, extending NPM’s platform to serve investors in private company shares and private fund interests.

ABOUT LODAS MARKETS
LODAS Markets is a vertically integrated technology company transforming alternative investments through its SEC-registered secondary market and transfer agent platforms, LODAS Securities and LODAS Transfer. Built for financial advisors, individual investors, and institutions, LODAS provides seamless trading, transfer, and settlement via fully automated, connected systems that support the entire investment lifecycle from capital raise to fund management to exit, delivering liquidity, transparency, and operational efficiency across private markets.

For more information, visit lodasmarkets.com.

ABOUT HARRISON STREET PRIVATE WEALTH
Harrison Street Private Wealth, a division of global investment firm Harrison Street Asset Management, manages investment strategies focused on real assets, including real estate, infrastructure, farmland and timberland. Since its founding, HSPW has been dedicated to providing institutional-quality alternative investment solutions to financial advisors and their clients, with a focus on delivering diversification, income, and long-term growth potential. The firm has built a strong track record of working with leading institutional partners to develop innovative investment opportunities tailored for the private wealth market.

For more information, visit: harrisonstpw.com.

ABOUT NASDAQ FUND SECONDARIES

Nasdaq Fund Secondaries, an affiliate of Nasdaq Private Market, LLC, provides technology and liquidity solutions for participants in the private secondaries markets. Its purpose-built platform helps general partners, limited partners, and their advisors manage and execute liquidity transactions through structured workflows designed to support greater transparency, efficiency, and scalability.

For more information, visit nasdaqprivatemarket.com/fund-secondaries/. 

CONTACTS

LODAS Markets
Randy Williams
917-213-5980
media@lodasmarkets.com 

Harrison Street Private Wealth
For media inquiries:
Doug Allen, Ellie Johnson
Dukas Linden Public Relations
646-722-6530
HSAM@dlpr.com

For other inquiries:
877-200-1878
info@harrisonstpw.com 

Nasdaq Private Market
Samantha Tortora
press@npm.com 

Cautionary Note Regarding Forward-Looking Statements:

Information set forth in this release contains forward-looking statements that involve a number of risks and uncertainties. NPM cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will”, “would”, “expects”, “aims”, “look forward”, and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to operation of auctions and broker activities. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NPM’s control. NPM undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Please read these important legal notices and disclosures

The information contained herein is provided for informational and educational purposes only. None of the information provided represents an offer to buy or sell, or the solicitation of an offer to buy or sell, any security, nor does it constitute an offer to provide legal, tax, financial or investment advice or service, nor does it constitute a recommendation for the purchase or sale of any investment product or security. Investing in private markets is speculative and involves a high degree of risk. You must be prepared to withstand a total loss of your investment. The results of this auction are not indicative of the results of any future auction. Future auctions may clear at different prices, including at greater discounts to NAV, and there is no assurance that shares offered in any auction will be sold. You are strongly encouraged to complete your own independent due diligence before investing in private markets, including obtaining additional information, opinions, financial projections, and legal or other investment advice.

Changes in real estate values or economic conditions can have a positive or negative effect on issuers in the real estate industry.

Nasdaq Fund Secondaries, LLC is a wholly-owned subsidiary of Nasdaq Private Market, LLC. Nasdaq Fund Secondaries, LLC is not: (A) a registered exchange under the Securities Exchange Act of 1934; (B) a registered investment adviser under the Investment Advisers Act of 1940; or (C) a financial or tax planner, and does not offer legal, financial, investment or tax advice. Securities-related services are offered through NFSTX, LLC, a registered broker-dealer, a member FINRA/SIPC and a wholly-owned subsidiary of Nasdaq Fund Secondaries, LLC. Transactions in securities conducted through NFSTX, LLC are not listed or traded on The Nasdaq Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The Nasdaq Stock Market LLC.

The third-party trademarks and service marks appearing herein are the property of their respective owners. The third parties mentioned herein are independent entities and are not legally affiliated with Nasdaq Fund Secondaries or its affiliates, including Nasdaq Private Market, LLC.

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SOURCE LODAS Markets

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Setara Financial Corp Advances Development of the Reference Layer for Global Compute Markets

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CHICAGO, Oct. 2, 2026 /PRNewswire/ — Setara Financial Corp., a financial infrastructure company developing benchmark and reference-data infrastructure for the global compute economy, today announced the next stage in the development of its Reference Layer for compute markets. As artificial intelligence drives investment in GPUs, data centers, power and connectivity, compute is becoming an increasingly important economic input. Yet the market remains fragmented across hardware, providers, geographies, contracts and data sources. Setara is developing a Reference Layer to organize, standardize and evaluate information across this ecosystem, creating governed infrastructure that can make compute more measurable, comparable and financially usable.

Setara is developing a governed reference layer for global compute markets.

“Compute is becoming too important to the global economy to be measured through disconnected proprietary data sets,” said Jack Bouroudjian, Chief Executive Officer of Setara Financial Corp. “The development of a financial market around compute requires a transparent and credible reference layer. Setara is building that infrastructure so market participants can understand what is being measured, where the information comes from, how it is evaluated and how reference values are constructed.” Setara’s architecture begins with a governed data model designed to standardize heterogeneous compute-market information before eligible evidence enters the benchmark calculation process. Its Benchmark Calculation Engine (BCE) provides the developing framework for evidence classification, eligibility review, normalization, calculation, quality control, provenance and controlled release.

Together, these components create a controlled path from compute-market information through standardized data and benchmark calculation to, where applicable requirements and authorization are satisfied, benchmark determinations. Setara is also developing the methodology, Rulebook, publication, correction, change-control and governance structures supporting its benchmark activities. Evaluation and methodology-development outputs are not Official Setara Benchmark determinations or live settlement references unless expressly identified as such. “Benchmark credibility begins with the integrity of the underlying data and the transparency of the methodology,” said Robert Alberghine, President and Chief Operating Officer of Setara Financial Corp. “Our objective is to build infrastructure where the relationship between evidence, methodology, calculation and benchmark determination can be understood and governed while protecting confidential source information.”

“Building a compute market is ultimately a data architecture and governance challenge as much as it is a financial one,” said Jeejo Pallayi, Chief Technology Officer. “The market needs a common framework that allows heterogeneous information to be brought together, evaluated and understood consistently.” Setara’s current methodology architecture organizes potential benchmarks across four principal families: Trade / Spot, Cost / Breakeven, Pipeline / Supply Risk, and Utilization. These represent the company’s current product and methodology framework and do not mean that every benchmark within these families is currently available or authorized as an Official Setara Benchmark determination. Setara is also developing reporting, data-feed and API capabilities to support future distribution of authorized benchmark and reference information. As it enters its next stage of development, the company is establishing a public methodology-disclosure framework covering evidence classification, calculation and release controls, source confidentiality, corrections, methodology changes and governance.

About Setara Financial Corp.

Setara Financial Corp. is a Chicago-based financial infrastructure company developing benchmark and reference-data infrastructure for the global compute economy. Setara is building technology, methodology and governance infrastructure intended to improve transparency, comparability and integrity across rapidly evolving compute markets.

For additional information, visit Setara Financial Corp. at setarafinancial.com
Follow Setara Financial Corp. on LinkedIn.

Media Contact:
Robert Alberghine
President & Chief Operating Officer
Setara Financial Corp.
robert@setarafinancial.com
630-464-9472

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Verito Names Former IRS Communications Chief Terry Lemons Strategic Advisor as Cybersecurity Awareness Month Opens

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Lemons, who served 11 years as the IRS Chief of Communications and Liaison, will advise Verito on turning complex security work into plain, actionable steps for tax preparers who never signed up to manage technology.

ORLANDO, Fla., Oct. 2, 2026/PRNewswire/ — Verito, a cloud hosting and managed IT provider built exclusively for tax and accounting firms, announced that long-time IRS executive Terry Lemons joined the company as a strategic advisor on October 1, the first day of Cybersecurity Awareness Month.

Former IRS Communications Chief Terry Lemons Joins Verito As Strategic Advisor

At the IRS, Lemons oversaw national communications and worked closely with the tax professional community, including speaking extensively on data security and working on the Security Summit, a joint effort between the IRS, state tax agencies and the tax community to battle tax-related identity theft.

The Accidental IT Department

People go into tax and accounting to work with numbers and clients, not to manage technology. But as hackers and security rules have both evolved, many preparers have become part-time IT staff by default: researching regulations, navigating increasingly complex software, and writing security plans between client meetings. Verito calls this the Accidental IT Department.

Tax professionals know the rules they answer to, from IRS Publication 4557 to the FTC’s Safeguards Rule. What helps practitioners navigate this complex IT landscape is plain direction what to do, in what order, and what they can hand off.

After the October 15 extension deadline, firms have a critical stretch before filing season to review their security plan, retrain staff, and close gaps.

“Our clients went into this work to serve their own clients, not to manage technology,” said Jatin Narang, CEO and founder of Verito Inc. “Every new threat and every new rule still lands on their desk. Our job is to take that work off their plate. Terry spent his IRS career explaining complicated topics in terms tax professionals could act on, and he’ll help us do the same.”

What Lemons Will Do With Verito

Make security guidance plain. Advise Verito on how it explains security to firm owners and staff, in plain terms they can act on.Join Verito webinars and panels. Appear as a speaker and moderator in sessions for tax and accounting firms and the associations that serve them.

“At the IRS, I spent more than a decade focused on data security through the Security Summit and related efforts,” Lemons said. “I’ve been impressed by Verito’s commitment to client service and their product. Working with the Verito team aligns with two of my long-term passions – highlighting the importance of protecting taxpayer data as well as working with the tax and accounting community.”

How Verito Protects Firm Data

Firms run Drake, UltraTax CS, Lacerte, ProSeries, QuickBooks, and their other applications on their own private cloud server. Verito also offers Managed IT through its VeritGuard service, built specifically for tax and accounting firms. Every plan is built with the IRS and FTC regulations in mind: enterprise antivirus and firewall, MFA on every login, encryption in-transit and at rest, backups multiple times a day with regular testing, and a 24/7 support team monitoring everything.

Learn more at verito.com

About Terry Lemons

Terry Lemons spent more than 26 years at the IRS, including 11 as Communications and Liaison Chief, where he advised six IRS Commissioners, led a 325-person team, and created the agency’s annual “Dirty Dozen” tax scams list. He retired in February 2025 and is Public Relations Director at Frost Law in metropolitan Washington. He’s also written a new Arcadia Publishing book, “The Year St. Louis Became A Baseball Town: The Cardinals, Babe Ruth & The 1926 World Series.”

About Verito

Work from anywhere on your firm’s own private cloud server. Verito manages IT for tax and accounting firms: secure, monitored 24/7, support in under 60 seconds. Founded in 2016, Verito serves 1,000+ tax and accounting firms with 100% uptime and a 95 Net Promoter Score. Its promise: It just works. Securely. Learn more at verito.com.

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SOURCE Verito

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ConnX to Integrate Intel Edge AI Technology Into MaestroIQ™ Platform

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Collaboration aims to bring real-time operational intelligence closer to transportation, manufacturing and other mission-critical environments

PLAINSBORO TOWNSHIP, N.J., Oct. 2, 2026 /PRNewswire/ — ConnX, a provider of AI-powered operational intelligence software for mission-critical industries, today announced it is integrating Intel edge computing technology into its MaestroIQ™ Shared Intelligence Layer. The initiative is designed to help transportation, manufacturing and other distributed operations correlate fragmented data sources and respond to developing issues faster. For cities and transportation operators, this real-time intelligence can improve situational awareness, enable faster response to safety or service disruptions, and support safer, more resilient operations.

The pairing of the Intel Core Ultra Series 3 platform with ConnX’s MaestroIQ™ platform ingests and correlates signals from networks, applications, cybersecurity systems, vehicles and industrial assets. ConnX selected the technology because it complements ConnX’s orchestration and industry application layer, letting the two platforms turn distributed infrastructure data into actionable intelligence. The combined architecture is designed to process data closer to the point of operation rather than in a centralized data center.

“Intelligence increasingly needs to operate where the physical business happens, across vehicles, factories, stores and critical infrastructure, not just in the data center,” said Indrajit Ghosh, CEO of ConnX. “Working with Intel’s edge technology helps us move customers from isolated AI pilots toward operational AI they can act on in real time.”

Unlike point solutions that address only compute or only software orchestration, the combined solution is designed to pair Intel’s Edge AI foundation with ConnX’s shared intelligence layer, helping operators detect and respond to issues faster across transportation, asset and infrastructure operations. ConnX and Intel plan to begin joint proof of value demonstrations within the initial 90 days of the collaboration, with additional details to follow as the work progresses. It builds on ConnX’s existing MaestroIQ™ deployments across transportation, manufacturing, retail and other mission-critical sectors.

ConnX will share additional details about the collaboration, including customer outcomes, as they become available. To learn more about ConnX’s operational intelligence solutions, visit connxai.com.

About ConnX

ConnX provides AI-powered connectivity, communications, cybersecurity and operational-intelligence solutions for mission-critical enterprises and public-sector organizations. Through its MaestroIQ™ Shared Intelligence Layer and portfolio of industry-specific solutions, ConnX helps organizations connect fragmented IT, OT, communications, security and operational systems to improve visibility, resilience and decision-making. ConnX serves organizations across transportation, retail, manufacturing, critical infrastructure and other distributed enterprise environments.

This release references a technical collaboration involving Intel and is subject to Intel review prior to publication. Any statements regarding future collaboration activities, product development, or solution availability should be reviewed and approved by Intel and ConnX legal and communications teams before publication.

©Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. ConnX, MaestroIQ and associated ConnX solution names are trademarks of ConnX or its affiliates.

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SOURCE ConnX, Inc.

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