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Laxman Pai, Opalesque Asia: U.S.'s largest alternative investment firm Blackstone is investing in iCapital Network, which provides platform to connect investors and advisers to alternative investment products.
The financial behemoth joins UBS, Morgan Stanley, BlackRock, BNY Mellon and Credit Suisse as investors in the firm, although iCapital's own management team remains its largest shareholder. Additional investors are expected to join before the round closes.
iCapital Network, an alternatives access platform that allows RIAs and other investors to access private equity funds, hedge funds and other alternative investments, declined to comment on the specific terms of the transaction.
According to a press release from iCapital, its modular technology and service platform is designed to overcome many of the long-standing challenges of investing in alternatives by using technology to streamline access, ease operational burdens, and improve the user experience, enabling iCapital's partners to provide the highest level of service to their clients.
Blackstone uses iCapital technology to improve and expand access to alternatives in the private wealth segment.
The release quoted Lawrence Calcano, Chief Executive Officer of iCapital Network as saying: "We're honored to have Blackstone as a shareholder, adding to the list a global leader in alternative investing, supporting our efforts to deliver the definitive technology solution for alternative inv...................... To view our full article Click here
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