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Asset Management / Wealth Management
BlackRock, iCapital team up to broaden access to private markets
Partnership aims to streamline processes in distribution of alternative investments to clients
The Asset 15 Jun 2021

BlackRock and iCapital Network have expanded their partnership to increase accessibility to private market investments for wealth managers. The combination of BlackRock’s private market investment products and iCapital’s technology and solutions aims to 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 (ELTIF), an increasingly important vehicle for the distribution of private markets in Europe.

While the global market for alternative investments stands at over US$10.7 trillion, with growth of 9.8% forecast by 2025 according to Preqin, individual investor allocations have historically lagged those of institutional investors. However, over the next several years, individual investor appetite is expected to increase, driven by a persistently low interest rate environment, diminished return expectations in public markets, and demand for greater diversification in portfolios to counterbalance higher market volatility, according to Cerulli Associates.

BlackRock’s product offerings will include private equity, private debt, and real assets, across geographies, including a broadening array of environmental, social and governance (ESG)-integrated strategies. The investment products will be available to wealth managers across EMEA, Asia-Pacific and Latin America.

The new offering will leverage iCapital’s Alternative Investment Fund Managers Directive (AIFMD)-compliant feeder fund structures and innovative technology platform to digitalize every aspect of the subscription and investor servicing process including capital calls, distributions, transfers and performance reporting for wealth advisers and their clients.

BlackRock is a long-standing strategic investor in iCapital and currently employs its technology to streamline access for BlackRock’s North American private market offerings to the wealth management community.

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