[Pendle Launches $2.1 Billion Infrastructure Fund Exposure via NGI+, Establishing PT, YT, and LP Markets] According to Pendle, NGI+ converts traditional institutional fund exposure into permissionless tokens. The underlying Partners Group fund shares remain held by Reale, and the tokens representing its economic exposure can be freely transferred between wallets and interact with DeFi. KYC/AML checks are conducted at the entry and exit points, with subscriptions and redemptions handled through Reale, allowing tokens to be used in combination during this period. The fund opens for trading monthly, and Pendle has already launched PT, YT, and LP markets around it; lending and revolving operations will also be possible once the money market accepts NGI+ as collateral. Asseto Finance has built a reusable framework that can be used to bring more institutional strategies on-chain. Pendle states that Partners Group's Next Generation Infrastructure fund manages $2.1 billion.