$2.1 billion infrastructure fund-linked token, PT·YT·LP trading on Pendle

NGI+, a token linked to Partners Group’s $2.1 billion Next Generation Infrastructure fund, has launched PT, YT and LP markets on Pendle through a structure developed with Asseto Finance. NGI+ holders receive economic exposure tied to the fund’s net asset value rather than direct fund shares, while Reale Assets Limited holds the underlying fund interest and that stake does not move when the token changes wallets. The $2.1 billion figure refers to the underlying fund’s assets under management, not NGI+ issuance or Pendle deposits. The listing matters as a test of tokenized private-market infrastructure exposure on decentralized yield-trading rails, with attention now on whether Pendle users adopt the PT, YT and LP markets and how NGI+’s NAV-linked pricing holds up.