Partners Group, which manages $186 billion in assets, has tokenized one of its infrastructure funds as NGI+, which is trading on Pendle.
According to an Odaily News Flash citing Pendle’s post on X, the Next Generation Infrastructure fund holds assets in pipelines, power plants, fiber-optic networks, and water utilities, and has delivered annualized net returns of 19.2% since 2024. AssettoFinance completed the tokenization.
· An easy-to-miss detail is the nature of the underlying asset: this is not a crypto-native asset, but a fund backed by physical infrastructure assets.
· Caveat: The source material does not specify NGI+’s trading volume, liquidity, or subscription and redemption arrangements. The 19.2% figure is a historical annualized net return and should not be treated as a future return.

Before buying tokenized shares, would you check the subscription and redemption terms or the list of underlying assets first?