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June 15, 2021

BlackRock expands alliance with iCapital to boost private markets access

By Verdict Staff

BlackRock has expanded its existing partnership with financial technology platform iCapital Network to enhance its access to private market investments for wealth managers.

BlackRock’s private market investment offerings, combined with iCapital’s technology and solutions, is expected to streamline the operational and administrative complexities faced by wealth managers in distributing private market investments to their clients.

The partnership will prioritise the distribution of global private market funds and the ELTIF, a vehicle for the distribution of private markets in Europe.

BlackRock’s product offerings comprise private equity, private debt, and real assets, across geographies, including a range of ESG-integrated strategies.

The company will offer these investment products to wealth managers in EMEA, APAC and LATAM regions.

The new offering utilises iCapital’s AIFMD-compliant feeder fund structures and technology platform to digitalise all aspect of the subscription and investor servicing process for wealth advisors and their clients.

iCapital’s technology is said to integrate seamlessly with eFront technology, allowing BlackRock to fully service the operational and administrative requirements of wealth and institutional clients.

BlackRock Alternatives Specialists Global head David Lomas said: “This collaboration will allow us to deliver on our strategic priorities of broadening access to BlackRock’s alternative investment strategies, accelerating the distribution of our private market strategies internationally, and enabling our wealth management partners to scale their own distribution efforts.”

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

The expanded partnership is also intended to create a spectrum of education tools to help wealth advisors and their clients evaluate the role of private market strategies as part of their total portfolio.

iCapital Network head of International Marco Bizzozero said: “BlackRock is a global leader, and we are delighted to support their ambition in alternative investing by facilitating access and emphasizing education.”

Recently, fund distribution platform Allfunds teamed up with iCapital to strengthen its private market and sub-advisory ambitions.

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