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Portfolio > Alternative Investments > Private Equity

Fidelity Institutional Offers Clients Access to Private Equity Funds

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Fidelity Institutional announced Thursday that it has expanded its alternative investments platform to provide its clients with access to private equity funds.

Fidelity said financial advisors and family office professionals would have increased access to private equity funds through strategic relationships with iCapital Network, CAIS and Goldman Sachs Asset Management.

“Delivering increased access to private equity has been a priority since we launched our alternative investments platform more than two years ago,” Fidelity Institutional’s head of product, Mark Haggerty, said in a statement. “Advisors have been looking for an effective way to leverage this type of investment strategy.”

The offering, Haggerty said, enables advisors to efficiently evaluate and incorporate private equity investments into their clients’ portfolios.

The expanded alternatives platform will give clients access to private equity vehicles, along with research and education about these products.

Fidelity’s strategic relationship with iCapital Network is new. iCapital offers single-manager, multi-manager and vintage year private equity investments, supported by research and diligence tools, at $100,000 minimums. Operational integration with Fidelity’s platform facilitates access and execution.

RIAs, broker-dealers and family offices can use iCapital’s custom solutions to create dedicated access vehicles with any combination of alternative managers and strategies with complete administrative services.

Fidelity has expanded its relationship with CAIS, whose product platform provides access to a variety of hedge funds and private equity funds at lower investment minimums. These include Mercer’s proprietary private equity fund of funds.

CAIS also supplies electronic subscriptions, integrated reporting on Fidelity client statements and portfolio construction and reporting tools, with independent due diligence provided by Mercer.

Fidelity has also expanded its relationship with Goldman Sachs Asset Management. GSAM will furnish access to portfolios of external private equity managers, using its manager selection process, constructing portfolios and managing risk.

It will also offer external hedge fund manager solutions and alternative investment thought leadership for clients.

Fidelity said clients can also access registered private equity products for accredited investors through its alternative investments network.

The firm will continue to offer aggregated reporting, custody, trading, clearing and execution for financial advisors and family office professionals who use the platform.

— Check out IRS OKs Program-Related Investments for Foundations on ThinkAdvisor.


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