The integration connects tZERO's broker-dealers directly to the PandoAlts allocator network, enabling real-time indications of interest from institutional users while surfacing assets available on tZERO's platform to allocators actively seeking exposure. This delivers clear visibility into verified investor demand across alternative asset classes including private markets, private credit, real assets, and structured investments.
Together, the companies are building a new connective layer between allocators, brokers, and issuers that replaces fragmented sourcing and opaque workflows with institutional-grade connectivity and normalization infrastructure. By standardizing demand visibility and normalizing post-trade data into wealth managers' systems of record, PandoAlts enhances price discovery and supports allocators in meeting their best execution obligations.
"This partnership brings something the alternatives market has historically lacked – a direct line between allocator demand and asset supply," said Alan Konevsky, CEO of tZERO. "By integrating with PandoAlts' IOI network, we're strengthening our institutional distribution reach while giving issuers access to verified, real-time investor interest."
PandoAlts operates a demand-driven order management system where allocators submit indications of interest for specific alternative exposures, bringing public market execution concepts into private markets. The platform does not execute transactions or act as a broker-dealer, with all transactions effected directly through registered broker-dealers or directly with issuers.
"Allocators are increasingly explicit about the exposures they want, and PandoAlts provides the infrastructure to translate that demand into executable workflows," said Cash Lafferty, Founder and CEO of PandoAlts. "By integrating with tZERO's regulated platform and issuer ecosystem, we're expanding how efficiently institutional capital can access alternative assets without the friction typically involved in adding new dealer and issuer relationships."
The integration aligns with tZERO's broader strategy to serve as the connectivity layer across tokenized and traditional assets, combining regulated brokerage, trading, custody, and tokenization capabilities with PandoAlts' institutional distribution channels. For more information about tZERO's broker-dealer subsidiaries, please visit https://brokercheck.finra.org.
For PandoAlts, onboarding tZERO as a broker partner reinforces its mission to deliver neutral, institutional-grade infrastructure for alternatives while expanding its growing network of market participants. The platform enables demand-driven indications of interest, normalized pricing, and transparent workflows that bring modern market infrastructure to alternatives and reduce friction in adding new dealer and issuer relationships.
The partnership represents a significant step toward modernizing alternative asset markets by addressing long-standing challenges in connecting institutional demand with available supply. By providing clear visibility into real-time allocator demand and standardizing workflows, the integration could accelerate capital formation in private markets while improving execution quality for institutional investors. This development comes as institutional allocations to alternative assets continue to grow, creating increased demand for more efficient, transparent infrastructure that can support scalable access to these traditionally opaque markets.
