> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ix.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Asset classes & SPVs

> The four private-market books IX supports, the assets in each, and how every asset is held in its own SPV.

IX covers the four private-market books. Each book has its own series of SPVs, and each asset — or cohort of similar assets — sits in a separate SPV that holds title and the operating contract, so a problem in one asset cannot reach another.

| Book | SPV series | Asset types | Revenue source |
| - | - | - | - |
| **Private infrastructure** | IX-INF | AI compute, data centres, energy and storage, farmland & timber, carbon credits | Compute rental, power sales, harvest and offtake contracts, credit sales |
| **Private credit** | IX-CRD | Trade and invoice finance, SME and asset-backed loans, revenue-based financing | Interest and fees paid by borrowers |
| **Real estate** | IX-RE | Income-producing commercial, industrial & logistics, residential rental, land | Rent, net of property costs |
| **Private equity** | IX-PE | Growth stakes, secondaries, fund and GP interests | Dividends, distributions, realised gains |

## How an asset is held

```mermaid theme={null}
flowchart LR
    A[Real asset] --> O[Operator runs it under contract]
    O --> S[Asset SPV holds title and collects revenue]
    S --> W[SPV waterfall: costs, reserve, debt service]
    W --> V[On-chain vault]
    V --> H[85% holders]
    V --> I[10% IX Finance]
    V --> R[5% reserve]
```

## SPV standards

* **Bankruptcy-remote:** one asset or cohort per SPV; no cross-guarantees.
* **Title and security** held by the SPV; the operator contract is assigned to it.
* **Cash waterfall:** operating costs, reserve top-up, debt service, then distribution.
* **Jurisdiction follows the asset** — a local vehicle where the asset sits.
* **On-chain identity, NAV and proof of reserve** for every SPV on the register.

## Onboarding an asset

**1. Source**

An asset owner or operator applies, directly or through a partner.

**2. Diligence**

Title, valuation, cash-flow history and operator quality are checked.

**3. SPV**

The asset enters its own SPV in its book's series, with security perfected.

**4. Register**

The asset receives an on-chain identity, NAV and proof of reserve.

**5. Issue**

Tokens are issued to eligible investors.

**6. Report**

Revenue, NAV and payouts are published on-chain every month.

> [!NOTE]
>
> Private infrastructure (AI compute) is live on testnet. The other books are planned — see the [Roadmap](https://docs.ix.finance/products/roadmap.md).


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