Blackrock has teamed up with alternative investment platform provider iCapital Network to give global wealth manager clients better access to private market assets.
Under the partnership, Blackrock will distribute its products using iCapital’s platform to simplify the “operational and administrative complexities faced by wealth managers” when investing in private assets, the two firms said in a press release.
The tie-up will see the distribution of Blackrock’s private equity, private debt and real assets funds, as well as the European Long-Term Investment Funds (ELTIF), an EU scheme to facilitate investment in longer-term assets such as transport and social infrastructure projects, property and small firms.
Funds will be accessible through iCapital’s AIFMD-compliant feeder fund structures and use its technology platform to digitalise processes including capital calls, distributions, transfers and performance reporting.
Blackrock already uses iCapital’s technology for distributing its North American private market products to the wealth management community.
Blackrock Alternatives Specialists global head David Lomas said: “This collaboration will allow us to deliver on our strategic priorities of broadening access to Blackrock’s alternative investment strategies, accelerating the distribution of our private market strategies internationally, and enabling our wealth management partners to scale their own distribution efforts.”
iCapital Network chairman and chief executive Lawrence Calcano said: “We are committed to optimising the alternative investing experience across the industry so advisers can better serve their clients.”
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