A sovereign wealth fund just put a private markets strategy onchain for the first time. Mubadala Capital manages around $600B and just tokenized its MC Alternative Solutions Fund through @KAIO_xyz, live on Base, Solana, and Sui at once. $75M committed at launch. $3.7B+ NAV, 650+ underlying companies, evergreen and diversified, not a single deal wrapped in a token. Most RWA onchain so far has been T-bills and money market funds. That's the easy part. Private markets are the harder, bigger prize, and this is the real thing. Mubadala now joins BlackRock, Brevan Howard, Hamilton Lane, and Laser Digital distributing through KAIO's infrastructure. That's the pattern worth watching, serious managers keep converging on the same rails. Live across three Tier 1 chains on day one, feeding KAIO's roughly $100M in TVL across 10+ chains. This is what institutional distribution looks like now: meet liquidity where it already lives.