Millennium Trust expands access to alt investments for advisors and individuals
Five new investment platforms have joined the Millennium Trust Company’s Millennium Alternative Investment Network (MAIN), bringing the total number listed to nine.
In addition to Lending Club (NYSE: LC), announced earlier this month, EquityZen, iCapital Network, Prodigy Network, and RJ Oasis are now available through MAIN.
Millennium Trust collaborates with leading online investment platforms and service providers to create solutions that use technology to provide qualified investors with an easy way to find and research alternative investments, and then purchase and custody the investment through their Millennium account.
Alternative assets are expected to grow to as much as USD15.3 trillion by 2020, according to PricewaterhouseCoopers. MAIN provides access to an ever-expanding network of online investment platforms offering a range of alternative investment options. And once investors make a decision to invest, they can use Millennium Trust's simple, secure, online process to set up and manage their custody accounts.
"There is a clear trend towards making some size allocation to alternative assets," says Millennium Trust Company CEO Gary Anetsberger (pictured). "However, many advisors and individual investors still cite a lack of access, and a lack of educational information, as two of the biggest hurdles they face when deciding which types of alternatives to select and what size allocation is appropriate. MAIN provides a starting point for investors to begin to solve both of these issues. We're excited to welcome the latest investment platforms to our growing network."
EquityZen is a marketplace for pre-IPO investments, connecting shareholders of private companies with investors seeking alternative investments, allowing startup employees to sell their rights to their shares while providing investment access to upside in growth firms.
"We are excited to provide Millennium Trust's individual and advisor clients access to pre-IPO technology company investments that have typically been reserved for institutions," says Phil Haslett, founder and head of investments at EquityZen, which has worked with more than half of the top 25 US. "Unicorns." "By joining MAIN, investors have an efficient way to custody these private investments."
iCapital Network offers a curated selection of private equity, credit, real estate, venture capital and hedge funds, supported by a full complement of research and diligence tools and electronic subscription processing.
"Alternative investments, including private equity and hedge funds, can be a valuable addition to a high-net-worth portfolio but have been out of reach for many investors until recently," says Lawrence Calcano, managing partner of iCapital Network. "We are pleased to be a platform on MAIN and committed to working with Millennium Trust to improve investor education and access to these critical asset classes."
Lending Club (NYSE: LC) is the world's largest online credit marketplace. With Lending Club, investors can quickly and simply build a diverse portfolio of investments in loans that fit their investment criteria, receiving monthly payments of principal and interest as borrowers repay their loans.
"MAIN gives Lending Club new access to individual investors and financial advisors," says Renaud Laplanche, founder, and CEO of Lending Club. "Since launching in 2007, Lending Club has delivered access for retail investors to invest in consumer credit that has delivered net annual returns of 5-8 per cent historically since inception and we look forward to expanding our distribution with this strategic relationship."
Prodigy Network's crowd-investing model was developed as an innovative way to give smaller investors access to large real estate projects and is one of the biggest crowd-investing platforms in the world. With projects worth over USD700 million, USD350 million in equity raised from the crowd, and over 6,500 investors.
"We are very happy to have joined the Millennium Alternative Investment Network and greatly value our relationship with Millennium Trust," says Prodigy Network CEO, Rodrigo Nino. "Real estate is among the most popular alternative assets for self-directed IRAs and MAIN users can now access these institutional-quality real estate projects in Manhattan."
RJ OASIS is a new generation of alternative investment services that satisfy the unique requirements of each client by offering customized value added solutions. They partner with clients to understand their needs, provide access to quality alternative investment products, assist in managing risk, maintaining liquidity, and provide dynamic reporting.
"RJ OASIS is delighted to be listed on MAIN and to expand the universe of alternative investment strategies available to Millennium Trust clients," says Managing Director of Asset Management Julie DeMatteo. "We believe there is significant investor demand for additional product and educational resources. This strategic relationship satisfies the need for both."