Bank of America has made a strategic investment in iCapital.
iCapital will use the investment to continue to build out the technical capabilities of its global alternative investing solution that supports more than $130 billion in platform assets.
“iCapital and Bank of America share the belief that alternative investments are an important component of a well-diversified portfolio and it is critical to increase access, education and service to advisors and their clients,” said Nancy Fahmy, head of alternative investments, specialty asset management and investment solutions specialists for Bank of America. “Deepening our support of iCapital through a strategic investment is emblematic of the success of our collaborative relationship.”
The investment deepens the firms’ partnership, which began in 2018. In March 2019, iCapital