Blackstone Group has made an investment in iCapital Network, the financial technology platform democratizing alternative investments.
The firm joins BlackRock, BNY Mellon, Credit Suisse Group AG, Morgan Stanley Investment Management, and UBS Financial Services as a strategic partner and investor, further expanding the consortium of industry leaders aligned with iCapital’s development of an industry standard technology solution for alternative investments. Additional investors are expected to join before the round closes.
iCapital’s modular technology and service platform is purpose-built to provide an end-to-end solution that is fully configurable, highly scalable, and able to support the unique subscription, administration, and reporting processes for private equity, private credit, hedge funds, and other alternative investments. It 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.
“Blackstone invests in companies that develop innovative technologies to solve real-world problems, and iCapital has quickly built a reputation for its ability to drive efficiencies into one of the most challenging areas of the wealth advisory business,” said Joan Solotar, senior managing director and head of private wealth solutions at Blackstone. “There is an established and growing need for alternatives in well-constructed investment portfolios, and we want to lead that shift with a better user experience and, ultimately, better outcomes for all of our clients.”
