iCapital announced a consortium to develop a distributed ledger-based solution for the alternative investment ecosystem.
The consortium includes leading asset managers, wealth managers and service providers including Apollo, BlackRock, Blackstone, BNY Mellon, Carlyle, KKR, Morgan Stanley, State Street, UBS and WestCap.
“Leadership of this initiative, which brings together many of the most influential market participants to leverage emerging technology, is well aligned with iCapital’s mission,” said Lawrence Calcano, chairman and CEO of iCapital. “We are completely committed to making investing in and owning alternative investments easier for advisors and their high-net-worth investors.”
Creating a secure, shared, auditable record for each alternative investment will augment the efficiency of the investment creation, management and exit processes, thereby eliminating the need for each party to take in data, reconcile it to their records and
