iCapital Network has entered into a strategic relationship with Morgan Stanley where iCapital will become the exclusive feeder fund service provider for Morgan Stanley’s Wealth Management Alternative Investments Group, with responsibility for the oversight functions of the group’s alternative investment feeder fund assets.
The transaction was completed on March 14. The alternative investments feeder fund business transferring to iCapital comprises approximately 115 investment vehicles across a range of investment strategies. iCapital’s proprietary end-to-end technology solution will be leveraged to streamline ongoing operations and administration services for the funds and provide support to advisors and their high-net-worth client base. Following today’s transaction, iCapital will service approximately $40 billion in private fund assets for more than 100,000 underlying accounts.
Morgan Stanley will continue to source and monitor alternative investments for its