Inaugural fund available through UBS Wealth
Management will use iCapital’s advanced technology to optimize fund
management and operations across the alternative investment
ecosystem
iCapital1, the global fintech platform driving access to
alternative investments for the wealth management industry, today
announced the successful launch of the first fund leveraging
iCapital’s new Distributed Ledger Technology (DLT). The fund is
distributed by UBS Wealth Management. This marks an important
technological advancement for increasing scale and real-time
connectivity across the alternative investments experience. The
milestone launch delivers on iCapital’s commitment to technology
that creates unmatched operational efficiency and convenience for
over 100,000 U.S. financial advisors.
iCapital's DLT is designed to simplify and enhance the lifecycle
management of alternative investments. It aims to foster a more
secure, efficient alternative investment management environment,
connecting key financial players and allowing for seamless data
sharing and transaction processing. This ledger technology is
expected to eliminate 100,000+ activity reconciliations over the
average life of a private capital fund2, improving data processing
visibility and efficiency, reducing errors, and enhancing overall
investment handling. As a result, iCapital’s DLT is expected to not
only save clients thousands of hours of manual data reconciliation
and version sharing, but also create significant cost savings and
productivity gains in addition to reducing the risks associated
with manual data entry.
“Distributed ledger technology represents a significant
milestone for iCapital’s innovation. Our technological commitment
and experience positions us to spearhead this advancement in
support of our clients’ investment lifecycle activities. We are
dedicated to optimizing the entire alternative investing
experience, enabling fund managers and wealth advisors to operate
with efficiency, precision, and ease,” said Lawrence Calcano,
Chairman and CEO of iCapital. “We’re excited to collaborate with
UBS as our distribution partner for the milestone launch of the
first fund using iCapital’s Distributed Ledger Technology.
Additionally, we look forward to launching more funds with other
partners in the coming months.”
The first fund is distributed by UBS Wealth Management and
administered by Gen II. All lifecycle activities – including
subscriptions, capital activities, reporting, and liquidity for the
fund – will be orchestrated through iCapital’s DLT, which automates
data and document connectivity between firms and minimizes manual
data reconciliation.
“This is an important step forward in creating greater
efficiency and improving fund data quality,” said Jerry Pascucci,
Co-Head of Global Alternative Investment Solutions for UBS Global
Wealth Management. “We are continuously striving to make it easier
for our financial advisors to manage and monitor their clients’
alternative investment holdings.”
The release of iCapital’s DLT is part of the firm’s ongoing
commitment to innovation and digital transformation, following
recent launches like iCapital Marketplace, Architect, Model
Portfolios, and the acquisition of Mirador, which continue to
showcase the company’s commitment to developing the private
market’s leading-edge technology solutions.
“Distributed ledger technology serves and connects firms across
the investing ecosystem, including fund managers, administrators,
transfer agents, wealth managers, advisors, custodians, and tax
providers, who each require timely, precise data to manage
alternative investments on behalf of individual investors,” said
Jason Broder, Chief Product Officer at iCapital. “iCapital’s DLT
eliminates the need for each party to manage multiple integrations
across partner firms, reconcile data and documents to their
records, and maintain conflicting workflows across funds.”
About iCapital
iCapital powers the world’s alternative investment marketplace
offering a complete suite of tools, end-to-end enterprise
solutions, data management and distribution capabilities and an
innovative operating system. iCapital is the trusted technology
partner to independent financial advisors, wealth managers, and
asset managers, offering unrivaled access, technology, and
education to incorporate alternative assets into the core portfolio
strategies for their clients.
At the forefront of the digital transformation in alternative
investing, iCapital’s secure platform delivers a complete portfolio
of management capabilities for education, transactions, data flows,
analytics, and client support throughout the investment lifecycle.
With $184.7 billion3 in global platform assets, the iCapital
operating system automates and streamlines the complex process of
private market investing and seamlessly integrates with clients’
existing infrastructure platform and tools.
iCapital employs more than 1,500 people globally, and has 17
offices worldwide including New York, Greenwich, Zurich, Lisbon,
London, Hong Kong, Singapore, Tokyo, and Toronto. iCapital has
consistently been recognized for its outstanding innovation,
fintech industry leadership, and performance including Forbes
Fintech 50 for 2018, 2019, 2020, 2021, 2022, 2023, and 2024 and
MMI/Barron’s Industry Awards as Solutions Provider of the Year for
2020, 2021, 2022, and 2023.
For more information, visit https://icapital.com | X(Twitter):
@icapitalnetwork | LinkedIn:
https://www.linkedin.com/company/icapital-network-inc/
iCapital Disclosures
This material has been provided to you for informational
purposes only by iCapital, Inc. and/or one of its affiliates
including Institutional Capital Network, Inc. (collectively,
“iCapital”). This material is the property of iCapital and may not
be shared without its written permission. No part of this material
may be reproduced in any form, or referred to in any other
publication, without express written permission of iCapital. This
is not intended as, and may not be relied on in any manner as,
legal, tax or investment advice, a recommendation to employ a
specific investment strategy, or as an offer to sell, a
solicitation of an offer to purchase, or a recommendation of any
interest in any fund or security. Security products and services
are offered through iCapital Markets LLC (a registered
broker/dealer, member FINRA and SIPC), Institutional CN (Europe) –
Empresa de Investimento, S.A. (registered with CMVM), iCapital Hong
Kong Limited (licensed by SFC) and iCapital SG Pte. Ltd (licensed
by MAS), all affiliates of iCapital. Registrations and memberships
in no way imply that FINRA, SIPC, CMVM, SFC or MAS have endorsed
any of the entities, products or services discussed herein.
Financial products made available by iCapital Markets LLC,
Institutional CN (Europe) – Empresa de Investimento, S.A., iCapital
Hong Kong Limited and iCapital SG Pte. Ltd. may be complex and/or
speculative and are not suitable for all investors. iCapital
Advisors, LLC is an investment adviser registered with the
Securities and Exchange Commission and acts as an adviser to
certain privately offered investment funds. “iCapital” and
“iCapital Network” are registered trademarks of Institutional
Capital Network, Inc.
© 2024 Institutional Capital Network, Inc. All Rights
Reserved.
About UBS
UBS convenes the global ecosystem for investing, where people
and ideas are connected and opportunities brought to life, and
provides financial advice and solutions to wealthy, institutional
and corporate clients worldwide, as well as to private clients in
Switzerland. UBS offers investment solutions, products and
impactful thought leadership, is the leading global wealth manager,
provides large-scale and diversified asset management, focused
investment banking capabilities, and personal and corporate banking
services in Switzerland. The firm focuses on businesses that have a
strong competitive position in their target markets, are capital
efficient and have an attractive long-term structural growth or
profitability outlook.
UBS is present in all major financial centers worldwide. It has
offices in more than 50 regions and locations, with about 30% of
its employees working in the Americas, 30% in Switzerland, 19% in
the rest of Europe, the Middle East and Africa and 21% in Asia
Pacific. UBS Group AG employs more than 72,000 people around the
world. Its shares are listed on the SIX Swiss Exchange and the New
York Stock Exchange (NYSE).
1 iCapital, Inc., and its affiliates
(together, “iCapital”)
2 Assumes an average of 250 investors in a
draw down private capital fund with 20 capital calls, 25
distributions, 45 cash reconciliations and 40 PCAPs over the
lifetime of a fund, with three entities involved in the process of
end-to-end fund management.
3 As of March 31, 2024
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version on businesswire.com: https://www.businesswire.com/news/home/20240522962407/en/
For media inquiries:
For iCapital +1 919 602 2806 icapital@neibartgroup.com
For UBS Jonathan Humphreys Media Relations +1 201.352.6158
jonathan.humphreys@ubs.com