Investment manager Nuveen has partnered with fintech firms Altive and iCapital to provide private wealth investors in Asia-Pacific with expanded access to its global real estate platform.
Altive, funded by Pacific Century Group, is a fintech platform that enables high net worth individuals to invest in top-tier alternative investment funds around the world. iCapital connects financial advisers and their affluent clients to private equity, private debt, venture capital and hedge funds.
The two partners will invest in a Nuveen strategy, which aims to provide income and growth from direct investments in commercial properties across the world that are likely to benefit from trends such as urbanization, technology and ageing populations. It will be available to private wealth investors in Asia-Pacific through the Altive and iCapital feeders.
Nuveen says the partnerships reinforce its strategy to expand into the growing wealth management segment to become the go-to investment manager with a focus on alternatives, income, and ESG. High net worth wealth is estimated to grow by 10% in China and 6% in other Asia-Pacific countries by the end of 2024.
“We are excited to be at the forefront of the industry in collaborating with two prominent fintech platforms to broaden the range of investment strategies accessible to Asia private wealth investors and intermediaries,” says Henry Chui, head of APAC private wealth and managing director at Nuveen.
“The hunt for yield in a prolonged historic low rate environment from the pandemic, combined with the longstanding under-allocation of Asian investors’ portfolios to alternatives, presents a compelling opportunity for Asia high net worth individuals, wealth managers and family offices to capitalize on the benefits of a direct global real estate allocation through a single investment.”