iCapital, a global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, is leading a consortium to develop a distributed ledger-based solution for the alternative investment ecosystem.
The group will champion an industry-wide initiative to drive the next generation in operational efficiency, security, and convenience. The consortium, which includes leading asset managers, wealth managers, and service providers including Apollo, BlackRock, Blackstone, BNY Mellon, Carlyle, KKR, Morgan Stanley, State Street, UBS, and WestCap, will partner with iCapital to make it easier to acquire and service alternative assets.
While Apollo, BlackRock, Blackstone, BNY Mellon, Carlyle, KKR, Morgan Stanley, State Street, UBS and WestCap are the first to join iCapital in the effort to develop and test blockchain-based solutions, iCapital expects additional, prominent alternative industry participants to join the initiative to establish functionality for the entire global-alternative investment network.
iCapital plays an instrumental role in the global alternative investing ecosystem, facilitating access to private markets investments for advisors and their high-net-worth clients by providing intuitive, end-to-end technology and service solutions. Wealth management firms use iCapital’s solutions to provide clients with quality funds at lower minimums and simplified digital workflows. Asset managers, RIAs and banks leverage iCapital’s technology to streamline and scale their private investments operational infrastructure.