What is private equity/debt?
Investors may wish to provide capital to private businesses. The investor may become a company owner (equity investor) or a company creditor (debt investor), depending on how the agreement is structured. The funding provided may help start a new business, provide an existing firm with additional capital, finance the acquisition of a company, or something else entirely. In general, private equity/debt is less liquid that than public equity/debt.
Investments are most often made by investing in a pooled investment vehicle that invests in private companies (Private Equity Funds) or through direct purchase of private company stock.
Investments are most often made indirectly by investing in a pooled investment vehicle (or fund) that invests in loans or other debt instruments, or directly by lending. Included in these types of investments are secured and unsecured Promissory Notes and Mortgage/Deeds of Trust.
Millennium Trust does not recommend any particular investment or asset category. Investors are urged to speak with a tax or investment advisor before investing.
How to start investing
- Step 1: Submit Assessment Docs
- Step 2: Open and fund an account
- Step 3: Submit Investment Docs
- How long will it take?
In order for Millennium Trust to custody an Alternative Investment, we must first perform an Operational Assessment to determine that the investment is administratively feasible for an account and to ensure proper custody. Millennium does not evaluate or perform due diligence on any investment or investment sponsor.
Documents required for the private equity/debt assets vary by investment type. Download the Operational Assessment (OA) reference sheet to view the list of required Millennium Trust forms and additional documents.
Download OA Fact Sheet
The investment or fund sponsor needs to complete the Private Placement Certification (PPC). If investing in private debt with no investment sponsor, you can download the required documents below. This step takes up to 5 business days once we receive all the necessary documents.
Access Online PPC
All new accounts must go through a 7-day revocation period before an investment can be made. If you have an existing account with Millennium Trust and you want to custody the asset in the same account, proceed to step 3.
You can open an account by completing our online account application. Contact us if a paper version is needed.
- For transfers-in-kind, you must submit a copy of your most recent statement from the current custodian reflecting the asset.
- For rollovers-in-kind, you must submit Millennium's 60-Day Asset Rollover Request along with stated required documentation.
In order for Millennium Trust to process a transaction for an account, specific documentation is required.
Documents required for the private equity/debt assets vary by investment type. Download the Alternative Asset Transactions reference sheet to view the list of required Millennium Trust forms and additional documents.
Download Alt Asset Trans Fact Sheet
Once you have completed and signed Millennium Trust’s purchase direction form, gather any additional documentation and send to us for processing.
Download Private Placement Purchase Direction
Private Placement Investing Timeline
Private Placement Investing Timeline
|Sponsor: Submit Operational Assessment||2-5 Business Days||
Complete MTC's Private Placement Certification form and submit to MTC along with copies of the Offering Memorandum and Subscription Agreement for MTC's Operational Assessment.
Note: Draft copies of offering memorandums will not be accepted.
|Investor: Account Setup||1-2 Business Days||
|Investor: Account Funding||2-4 Weeks||
|Investor: Making the Investment||2-3 Business Days||