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Laxman Pai, Opalesque Asia: Alternative investments fintech iCapital has purchased UBS Fund Advisor, the wirehouse's legacy proprietary U.S. alternative investment manager and feeder fund platform.
The platform generally referred to as "AlphaKeys Funds," represents more than US$7 billion in client assets.
With this transaction, iCapital will assume the management and operation of the platform, which includes private equity, hedge fund, and real estate feeder funds, said a press release from the global fintech platform driving access and efficiency in alternative investments for the asset and wealth management industries.
UBS Financial Advisors will continue to serve their high and ultra-high net worth clients that hold feeder funds as they always have, providing advice and solutions to help meet their unique needs and financial goals, it said.
"iCapital has a long-standing global relationship with UBS through which we utilize our market-leading technology to facilitate the management of their direct and feeder funds on a single platform and offer their advisors the tools they need to be successful," said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital. "We are thrilled to expand that relationship to include management of UBS Fund Advisor and the feeder fund platform."
"This agreement underscores the importance of having partners like iCapital, with aligned values and priorities to support clients' financial goals," said Jerry Pascucci, Glo...................... To view our full article Click here
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