European-headquartered fund distribution platform Allfunds has partnered with US-based fintech platform iCapital to improve global access to private markets.
The partnership will see iCapital providing investment opportunities in private markets alongside sub-advisory services already available through Allfunds' global distribution network.
Allfunds distributors and their individual investors, as well as small institutional investors, will be able to access a wide range of private markets funds and strategies from managers across the globe with lower minimum investment through iCapital's technology.
Wealth creation is increasingly taking place outside the public market opportunities commonly available to most investors.”
Asset classes available include private equity, debt, and real assets.
As well as providing fund selection and structuring capabilities, iCapital will also deploy technology that automates subscription and client servicing processes during the investment.
This will eliminate operational difficulties and the manual, paper-based processes historically associated with private markets investing, the firms said in a statement.
Juan Alcaraz, chief executive of Allfunds, said: "This partnership with iCapital is demonstrative of our commitment to expand our product offering into private markets with best-of-breed third-party solutions for our Allfunds Connect clients and to continue optimising fund distribution. iCapital's technology ensures a superior digital client experience when investing in this increasingly important asset class."
Lawrence Calcano, chairman and chief executive of iCapital Network, added: "This partnership is emblematic of the great strides iCapital has made to provide better access, efficiency and transparency for the global wealth management industry which is increasingly seeking private market investing strategies for clients."
Marco Bizzozero, head of international at iCapital Network, said: "Wealth creation is increasingly taking place outside the public market opportunities commonly available to most investors."
He added that the partnership will offer access to growth and diversification opportunities that private markets can provide for banks and wealth managers to enhance client portfolios.