AXA IM Alts, the alternative investments unit of French insurer AXA, has joined forces with fintech platform iCapital to bolster its private wealth offering.
The partnership aims to expand the access of wealth managers and their high-net-worth (HNW) clients to private market investment opportunities through iCapital’s white label solution.
As an initial step, AXA IM Alts’ $500m Global Health Private Equity strategy will be available on the iCapital platform.
Said to be the first SDFR Article 9 fund on the iCapital platform, this fund seeks to invest in companies focused on innovations in medical devices, biopharmaceuticals, vaccines, and diagnostics segments.
As part of the partnership, AXA IM Alts products will also be made available on Allfunds, which is a strategic partner of iCapital.
AXA IM Alts Global Head of Client Group Florence Dard said that the partnership is an important step in the firm’s strategy to significantly expand its private client base.
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Dard added:“Demand for alternative and private market investments amongst wealth managers and their clients is growing, as they seek return drivers beyond the traditional investment universe. In alignment to these demand trends, this partnership further supports our long-term, strategic ambition to expand into the private wealth market.”
As part of the tie-up, AXA IM Alts will utilise iCapital’s intuitive digital experience to enhance the private markets investment process for advisers and their HNW clients.
The two companies plan to expand the partnership to help wealth managers and their clients access institutional-quality alternative investments in the future. These will include real estate, infrastructure and private debt.
iCapital head of International Marco Bizzozero said: “We are delighted to partner with AXA IM Alts, a global leader in alternative investments, in its ambition to be at the forefront of expanding access to private markets for individual investors and meeting increasing demand for impact-driven investments.
“This partnership demonstrates that iCapital is a preferred partner for asset managers as they bring their products to the wealth management channel.”