BlackRock expands partnership with iCapital Network to broaden global private market access to wealth managers

By Pavithra R

NewYork based BlackRock and iCapital Network has announced the expansion of their existing relationship to increase accessibility to private market investments for wealth managers.

The combination of BlackRock’s private market investment products and iCapital’s proven technology and solutions will streamline the operational and administrative complexities faced by wealth managers seeking to distribute private market investments to their clients. Together the companies will focus on the distribution of global private market funds, as well as the ELTIF, an increasingly important vehicle for the distribution of private markets in Europe.

“We are delighted to be expanding our trusted partnership with iCapital Network. 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,” said David Lomas, Global Head of BlackRock Alternatives Specialists.

BlackRock’s product offerings will include private equity, private debt, and real assets, across geographies, including a broadening array of ESG-integrated strategies. The investment products will be available to wealth managers across EMEA, APAC and LATAM. The new offering will leverage iCapital’s AIFMD-compliant feeder fund structures and innovative technology platform to digitalize various aspects of the subscription and investor servicing process including capital calls, distributions, transfers and performance reporting for wealth advisors and their clients.

iCapital’s technology will work seamlessly alongside that of eFront, enabling BlackRock to fully service the operational and administrative needs of both wealth and institutional clients. BlackRock is a long-standing strategic investor in iCapital and currently employs its technology to streamline access for BlackRock’s North American private market offerings to the wealth management community.

“We are honored to partner with BlackRock on this initiative, which builds on years of collaboration between our firms and supports the expansion of its leading-edge private market offerings across EMEA, APAC and LATAM. We are committed to optimizing the alternative investing experience across the industry so advisors can better serve their clients,” said Lawrence Calcano, Chairman and CEO of iCapital Network.

The collaboration between BlackRock and iCapital will also create a suite of education tools to help wealth advisors and their clients understand and evaluate the role of private market strategies as part of their total portfolio.