iCapital has plans to acquire UBS Fund Advisor LLC, UBS’s legacy proprietary U.S. alternative investment manager, and the feeder fund platform it manages.
The transaction is expected to close during the second half of 2022. Terms of the agreement were not disclosed.
The platform, generally referred to as “AlphaKeys Funds,” represents more than $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. 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.
In 2017,