Global asset management giant Blackrock has expanded its existing relationship with fintech firm iCapital Network to raise accessibility to private market investments for wealth managers, reports FSA‘s sister publication, International Adviser.
The combination of Blackrock’s private market investment products and iCapital’s technology and solutions will “streamline the operational and administrative complexities faced by wealth managers seeking to distribute private market investments to their clients”.
The partnership will focus on the distribution of global private market funds, as well as the European Long-Term Investment Fund, a vehicle for the distribution of private markets in Europe.
Blackrock’s product offerings will include private equity, private debt, and real assets, across geographies, including an array of ESG-integrated strategies. The investment products will be available to wealth managers across Apac, Emea and Latam.
David Lomas, global head of Blackrock alternatives specialists, said: “We are delighted to be expanding our trusted partnership with iCapital Network.
“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.”
Marco Bizzozero, head of international at iCapital Network, added: “Our mission is to solve the fundamental challenges of investing in private markets for individual investors. iCapital’s solutions support asset and wealth managers in broadening client access to the growth and diversification opportunities of private markets.
“Blackrock is a global leader, and we are delighted to support their ambition in alternative investing by facilitating access and emphasising education.”
This latest collaboration expands an existing commercial relationship between the two companies. Blackrock is a long-standing strategic investor in iCapital and gives North American wealth management firms access to private markets.