Private market investments - such as private equity and credit - have exploded 30-fold from 2000 to $30.5 trillion today. Gaining access to this market is becoming increasingly more important.
iCapital Network, the New York-based technology platform for alternative assets such as private equity, has teamed up with Israeli investment house Altshuler Shaham, part of a continued expansion of iCapital’s footprint.
iCapital will provide Israeli wealth managers and their qualified private clients access to a menu of alternative investments. The US firm’s suite of educational tools will also be available through iFunds to help guide the Israeli wealth management community’s understanding of this area, iCapital said in a statement yesterday.
The rise of platforms such as iCapital comes at a time when a decade and more of ultra-low/negative interest rates, low yields on listed equities and the growing importance of private markets have fueled the alternative investments story. Technology-driven firms are seeking to widen investor access to asset classes once the preserve of the ultra-wealthy and institutions such as pension funds. (See a related story here.)
“Wealth creation is increasingly taking place outside the public markets as companies stay private longer. This unique partnership offers banks and wealth managers greater access to private markets opportunities to enhance client portfolios,” Marco Bizzozero, head of international at iCapital Network said.
The deal with Altshuler Shaham puts iCapital in partnership with the largest financial asset manager in Israel, managing about $80 billion it provides a range of products including provident funds, pension funds, mutual funds, managed portfolios, and a range of different financial services for individual investors and corporations.