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Alternative Market Briefing

With BlackRock's help, iCapital Network aims to build largest independent digital alternative investments platform

Friday, December 16, 2016

Komfie Manalo, Opalesque Asia:

BlackRock will be leading the next funding round for iCapital Network, a financial technology platform focused on democratizing access to alternative investments for high-net-worth investors and their financial advisors. The terms of the transaction were not disclosed.

At the same time, Frank Porcelli, Chairman of BlackRock’s U.S. Wealth Advisory business, will join iCapital’s Board of Directors and will work closely with the organization as a strategic advisor.

"We are building the largest independent digital alternative investments platform in the industry. In BlackRock, we have an investor who understands the importance of technology’s role in the wealth management ecosystem," said Lawrence Calcano, Chief Executive Officer of iCapital Network. "BlackRock’s decision to lead our next round of funding validates the steps we’ve taken thus far and gives us a springboard to scale the platform for future growth."

Individual investors remain significantly under-allocated to alternative investments relative to institutional investors, but are increasingly exploring the critical role alternatives can play in state-of-the-art portfolio construction. iCapital’s online platform facilitates access to private investment opportunities through an independent origination and due diligence process that prioritizes quality off......................

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