NEW YORK--(BUSINESS WIRE)--iCapital Network, the financial technology platform democratizing alternative investments, today announced JPMorgan Chase & Co (NYSE: JPM) has made a strategic investment in the company’s latest financing round.
The firm joins BlackRock (NYSE: BLK), Blackstone (NYSE: BX), BNY Mellon (NYSE: BK), The Carlyle Group (NASDAQ: CG), Credit Suisse Group AG, Morgan Stanley Investment Management (NYSE: MS), and UBS Financial Services, Inc. (NYSE: UBS) as a strategic partner and investor, further expanding the consortium of industry leaders aligned with iCapital’s development of an industry standard technology solution for alternative investments.
iCapital’s modular technology and service platform is purpose-built to provide an end-to-end solution that is fully configurable, highly scalable, and able to support the unique subscription, administration, and reporting processes for private equity, private credit, hedge funds, and other alternative investments. It is designed to overcome many of the long-standing challenges of investing in alternatives by using technology to streamline access, ease operational burdens, and improve the user experience, enabling iCapital’s partners to provide the highest level of service to their clients.
"We are honored to work with companies like JPMorgan Chase who support our mission of democratizing access to alternative investments," said Lawrence Calcano, Chief Executive Officer of iCapital Network. “We are committed to continuing the transformative work iCapital is doing with our partners to help the industry meet the growing demand for alternative investments and to provide innovative technology solutions that help deliver better outcomes for advisors and their clients.”
In May of this year, J.P. Morgan Asset Management announced an agreement with iCapital to provide a white label offering exclusively for Registered Investment Advisors and their clients to access a select group of J.P. Morgan Global Alternative strategies.
“We announced a partnership with iCapital earlier this year to begin using their white label enterprise solution to expand access to our alternative investment offerings to a wider audience. This strategic investment highlights the success of that initial partnership," said Anton Pil, Co-Managing Partner, J.P. Morgan Global Alternatives. “We want to be at the table in building a much-needed technology solution with the potential to benefit the entire industry, from advisors and their clients to asset managers and related service providers,” said Chris Hayward, Co-Managing Partner, J.P. Morgan Global Alternatives.
About iCapital Network
iCapital Network is the financial technology platform democratizing alternative investments with complete tech-based solutions for investors, advisors and asset managers. The firm’s flagship platform offers high-net-worth investors and independent wealth advisors a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Banks and asset managers leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was included in the 2018 Forbes FinTech 50 and as of June 30, 2018, serviced more than $6 billion in invested capital across more than 14,000 underlying accounts.
About JPMorgan Chase & Co.
JPMorgan Chase (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of customers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase is available at www.jpmorganchase.com.
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Disclosures: This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as, legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by iCapital. Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change. Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. iCapital is a registered trademark of Institutional Capital Network, Inc. All rights reserved.
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