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July 31, 2017 at 12:08 AM
Morgan Stanley announced last week that it has invested an undisclosed amount in alternatives platform iCapital. Along with the investment, Morgan Stanley will extend iCapital’s proprietary technology and services to its advisors and their clients.
ICapital Network is an online portal that gives investors access to private equity, private credit, venture capital, real estate and hedge fund investments. As of June 30, the platform has more than $2.25 billion in private fund subscriptions for more than 3,500 investors across, and has an investor network of more than 1,800 registered entities overseeing more than $1.7 trillion in investable assets, the company noted in a statement.
(Related: Institutional Investors’ Allocations to Alts Gather Steam)
“We’re very excited about” the partnership, Lawrence Calcano, CEO of iCapital, told ThinkAdvisor. “Obviously, Morgan Stanley is a world-class organization, and the fact that they had confidence in iCapital, both to invest and to partner with us and [adopt] our workflows to bring product to the marketplace is very exciting.”
Calcano noted that Morgan Stanley recognized that the independent marketplace needs help with technology support.
