MAI Capital Management, a registered investment advisory firm headquartered in Cleveland, has partnered with global fintech platform iCapital, aimed at scaling its custom alternatives investment platform.
The collaboration is designed to improve operational efficiency and enhance portfolio management capabilities for MAI’s advisers and high-net-worth clients.
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MAI has over five decades of expertise serving high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients, including sports, entertainers, and families, providing comprehensive services such as financial planning, investment management, estate planning, tax strategy, and charity.
A growing part of its offering is the firm’s private markets platform, which includes investments in real assets, private equity, venture capital, hedge funds, and private credit.
The collaboration makes use of iCapital’s whole technological infrastructure to assist MAI in handling the increasing complexity of alternative investments. Moreover, the platform from iCapital will be incorporated into MAI’s current systems to assist fund finance operations, handle documents, reconcile data, and expedite fund administration.
Kurt Nye, MAI’s chief investment officer and managing partner stated: “We took great care in selecting a technology partner to support and scale our alternatives business and felt a natural fit with the team at iCapital. Our focus is to build and manage bespoke portfolios built to preserve and create wealth across generations. With the support of iCapital, our team can now spend more time focusing on our diversified portfolios, balancing risk and deepening client relationships, instead of being bogged down by the operational intensity of alternative investments.”
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By GlobalDataIn addition to workflow automation, the integration will allow MAI’s in-house investment professionals to build custom portfolios and conduct due diligence more efficiently. As part of the agreement, iCapital will also take over the management of a set of existing funds currently overseen by MAI.
Steve Houston, managing director and co-head of iCapital Solutions expressed: “We are honoured that the MAI Capital Management team entrusted iCapital to help streamline its workflows and administrative needs within alternatives. As private market allocations become an increasingly important component of diversified investment portfolios, we share a common goal with MAI to help advisers scale without losing sight of what matters, helping their clients achieve better financial outcomes.”
The move reflects a broader industry trend of employing modern technologies to manage more complicated financial products. It also emphasises the crucial role digital platforms play in assisting registered independent advisers in providing sophisticated private market solutions while preserving a high-touch client experience.
By partnering with iCapital, MAI intends to provide its advisers with not only administrative help, but also access to a full array of training tools, allowing them to better serve clients as demand for private market exposure grows.
