Apollo Diversified Credit Securitize Fund
Tokenized feeder into Apollo Diversified Credit Fund, a 1940 Act closed-end interval fund. The token is Securitize DS Protocol on a standard upgradeable proxy, with a different owner wallet from BUIDL. One wallet can upgrade, mint and seize, with no timelock. The Apollo fund offers to buy back at least 5% of shares each quarter. Also deployed on Ink, Sei, Solana and Aptos, which this version does not read.
Counterparties
Which offchain companies could fail, even if the asset is fine?
The issuer's own group administers the fund (administrator: Securitize Fund Services, LLC).
The issuer's own group administers the fund (administrator: Securitize Fund Services, LLC).
Money moves only by USDC, so Circle is a single point of failure.
Everything sits in one master fund; ACRED can only pay out what Apollo's quarterly repurchase offers return.
Independent, regulated custodian: First Citizens Bank & Trust (FDIC and NC Commissioner of Banks).
Audited by WithumSmith+Brown, PC, a PCAOB-registered firm.
- Transfer agent: Securitize (issuer's group).
- Underlying manager: Apollo (Apollo Diversified Credit Fund).
- Prime broker: Coinbase Prime.
Service providers
Who holds, values, audits and registers the assets, and whether they answer to a regulator.
| Role | Firm | Independent of issuer | Regulated |
|---|---|---|---|
| Custodian | First Citizens Bank & Trust | Yes | Yes, FDIC and NC Commissioner of Banks |
| Fund administrator | Securitize Fund Services, LLC | Issuer's group | No |
| Auditor | WithumSmith+Brown, PC | Yes | PCAOB-registered |
| Transfer agent | Securitize | Issuer's group | Not recorded |
Settlement rails
How subscription and redemption money moves. One rail is a single point of failure.
Other parties holders depend on
- Underlying manager: Apollo (Apollo Diversified Credit Fund)
- Prime broker: Coinbase Prime
- Dependency Everything sits in one master fund; ACRED can only pay out what Apollo's quarterly repurchase offers return.