Latest news with #iCapital
Yahoo
6 days ago
- Business
- Yahoo
Vestmark, iCapital®, BlackRock, and Dynasty Launch Capability Incorporating Private Investments Within a Full-Scale UMA
The collaboration represents a new capability to combine private assets alongside SMAs within a single tax-managed portfolio. WAKEFIELD, Mass., July 17, 2025--(BUSINESS WIRE)--Vestmark, Inc., a leading wealth management software and services provider, announced today the launching of a tax-managed unified managed account (UMA) with private assets. This long-awaited capability was developed in partnership with iCapital1, BlackRock, and Dynasty Financial Partners and will be available to RIAs seeking to combine subscription-based alternatives with ETFs, mutual funds, equity SMAs, fixed income SMAs, and direct index SMAs in a single custodial account. This solution provides advisors with a streamlined, scalable process enabling allocation to alternative investments in a diversified portfolio within a UMA construct. The initial launch integrates iCapital's technology platform and tools, allowing Dynasty advisors to incorporate subscription-based alternatives into their UMA portfolios using asset allocation models developed with BlackRock. The offering provides access to BlackRock's leading asset allocation and portfolio design capabilities across private and public markets, featuring streamlined administration and custodial integration in a single account. "The wealth management industry has for too long been on the precipice of UMAs fulfilling their promise of simplicity and efficiency. With what we are launching today, Vestmark is fulfilling that promise," said Karl Roessner, CEO of Vestmark. "We are honored to collaborate with iCapital, BlackRock, and Dynasty to bring this long-awaited and truly innovative solution to fruition. We are excited for how this offering will revolutionize the advisor experience." "This collaboration with Vestmark, iCapital, and Dynasty allows us to continue expanding choice to RIAs, providing them with the ability to access private markets, SMAs, as well as public markets in a single account," said Eve Cout, Head of Solutions for BlackRock's U.S. Wealth Business. "Our dedication to innovating how we deliver custom model solutions empowers advisors to better serve their clients—and it's driving the rapid growth of our models business." "Dynasty is proud to build upon our existing partnerships with Vestmark, BlackRock, and iCapital to deliver innovative solutions to our growing advisor network," said Marc Hineman, Chief Operating Officer of Dynasty. "This enhanced capability was developed in response to demand from our network and is an extension of our existing Model Select program, which has already seen impressive adoption. The ability to add subscription-based private investments enables advisors to better serve larger relationships with more sophisticated portfolios and equips them with the technology and execution capability to manage those relationships at scale." About Vestmark For more than 20 years, Vestmark has been a leading provider of portfolio management solutions and outsourced services for financial institutions and their advisors, enabling them to efficiently manage customized client portfolios through an innovative technology platform. Supporting over $1.7 trillion in assets and 4.5 million accounts, Vestmark is a partner to some of the largest and most respected wealth management firms. For more information about Vestmark's solutions, call (781) 224-3640 or visit About iCapital iCapital is a global leader, shaping the future of global investing for financial advisors, wealth managers, asset managers, and other industry participants. iCapital offers a diverse and complete range of non-traditional investment products on iCapital Marketplace, Enterprise Solutions, and both Technology and Data Services, designed to help drive better outcomes2 for all participants in the ecosystem. With strategic investment from leading alternative asset managers, wealth managers, and service providers globally, iCapital provides unrivaled access, data connectivity, education, and research programs to advisors and their clients. Leveraging AI and machine learning for digital identity (KYC/AML), iCapital supports compliant and secure investment lifecycle processes. iCapital's end-to-end platform manages the lifecycle of non-traditional investment products, making it easier to learn about, buy, manage, and integrate alternative assets, structured investments, and annuities into portfolios, driving growth, scale, and efficiency. Our solution(s) can be customized and offers specific modules as needed. iCapital has $9453 billion of assets serviced globally on its platform, including $257 billion in alternative platform assets, $203 billion in structured investments and annuities outstanding, and $485 billion in client assets reported on, and serves over 3,000 wealth management firms and 114,000 active financial professionals. Headquartered in New York, iCapital operates globally with 16 offices, including major hubs in Zurich, London, Hong Kong, Singapore, Tokyo, and Toronto, and an industry-leading R&D center in Lisbon. iCapital is recognized for its innovation and leadership, with accolades from Euromoney (World's Best Technology Provider for Wealth Management), CNBC (World's Top Fintech Companies), and Forbes Fintech 50. For more information, visit | X (Twitter): @icapitalnetwork | LinkedIn: About BlackRock BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit | Twitter: @blackrock | LinkedIn: About Dynasty Financial Partners Dynasty is a provider of technology-enabled wealth management solutions and business services for financial advisory firms primarily focused on serving high net worth and ultra-high net worth clients. Dynasty provides access to a comprehensive platform of software and technology tools, business services and holistic investment management capabilities through an open-architecture platform delivered via a suite of proprietary and third-party technologies. Dynasty's technology, tools and services provide advisory firms the supported independence to launch their business, scale their operations and grow their firms — both organically and inorganically — while also allowing them to be more focused on and better equipped to serve their clients. For more than a decade, Dynasty has championed the benefits of independent wealth management for high net worth and ultra-high net worth clients and has contributed to the movement of assets from traditional brokerage channels to the independent channels of wealth management. As Dynasty is becoming a recognized industry leader, Dynasty has differentiated itself by developing competitive strengths, including a deep understanding of and strong relationship with its clients, a comprehensive offering of services and technology-enabled solutions, the ability to leverage its size and breadth to invest, the flexibility and seamlessness enabled by a modular technology solution, the entrepreneurial culture and experienced and committed management team. Dynasty is committed to continually growing its business by facilitating existing advisory firm clients' growth, onboarding new clients, increasing the clients' use of its broader capabilities, launching additional solutions and facilitating our complementary acquisitions. For more information, visit Also visit Dynasty on social media:LinkedIn: Twitter: @DynastyFP YouTube: ©2025 Vestmark, Inc. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission is prohibited. Vestmark, VAST, and the Vestmark icon are registered trademarks. Other trademarks contained herein are the property of their respective owners. Vestmark believes that the information in this publication is accurate as of its publication date; such information is subject to change without notice. Vestmark Advisory Solutions, Inc. ("VAS"), a wholly owned subsidiary of Vestmark, Inc., is an investment advisor registered with the U.S. Securities and Exchange Commission ("SEC"). VAS acts as a paid sub advisor and/or overlay portfolio manager offering VAST and tax optimization services. Registration does not imply a certain level of skill or training. VAS has its principal place of business in Wakefield, MA. Investing involves risk. The value of an investment will fluctuate over time, and an investor may gain or lose money. Past performance is no guarantee of future returns and individual investor results will vary. Investments in private assets and subscription-based alternatives may involve higher risk, reduced liquidity, and longer investment horizons. These investments may not be suitable for all clients. Please consult our full disclosure document for a discussion of risks related to the services provided by VAS. 1 iCapital, Inc. and its affiliates (together, "iCapital") 2 iCapital delivers better outcomes by streamlining financial operations, enhancing technology infrastructure, and empowering smarter decision-making through reporting and analytics. 3 As of June 30, 2025 View source version on Contacts Media Contact: Michael Walshmichael@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
What iCapital's $820M Funding Means for Private Markets
There's a reason why they're called private markets: Most clients aren't welcome. However, iCapital just got a lot of fuel to help change that, raising more than $820 million in new financing last week. Not only is this good news for the fintech firm, which specializes in alternative investing, but it's the next step in making private assets more accessible to a wider range of clients. 'Think of it as a validation of a fundamental shift that's been building for years — the democratization of alternative investments that were once exclusively available to pension funds, ultra-high-net-worth investors and the like,' said Will Trout, Datos Insights' director of securities and investments. READ ALSO: States With the Highest AUM Potential Per Advisor and BFFs? A Third of Gen Z Intends to Leave Inheritance to Friends I Need My Privacy Private markets are standard fare for pensions funds and endowments, but they're increasingly becoming part of wealthy clients' portfolios. Almost a third of advisors plan to allocate at least 20% of their book to private markets this year, according to a Hamilton Lane report released in January. Another 29% said they would allocate 10% or more to alternatives. The wealth management industry is witnessing the early stages of private market allocations becoming as routine as traditional asset classes, but with a few caveats, Trout told Advisor Upside. While they might become as easy to access as international equities for high-net-worth clients, mass-affluent investors will likely see simplified, evergreen fund structures that behave more like mutual funds, he said. iCapital has been strategic in becoming an 'essential infrastructure layer' connecting asset managers who create private products and wealth managers who use them in client portfolios, Trout said. 'Another way of putting it: iCapital is positioning itself as the 'plumbing' for this transition, much like how Stripe became essential infrastructure for e-commerce payments,' he said. The firm has big plans for its latest fund raising: The money will go toward new acquisitions, global expansion and tech innovations, according to a release It brought the firm's valuation to more than $7.5 billion. Bridge the Gap. The new financing is almost like a treaty between the old and new world of investing, and came from some of the top financial firms on the planet, Trout said. 'T. Rowe Price, Apollo, Blackstone, and BlackRock recognize that the future of wealth management requires seamless integration of public and private markets, and they're betting heavily on the infrastructure to make it happen,' he said. This post first appeared on The Daily Upside. To receive financial advisor news, market insights, and practice management essentials, subscribe to our free Advisor Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-07-2025
- Business
- Yahoo
Citi's wealth delivers revenue boost in Q2 despite slow inflows
Citi's wealth division reported a steep drop in net new investment assets in the second quarter of 2025 as market turmoil shook investor confidence. Those assets, which include dividends and interest payments but exclude market gains, fees and commissions, dropped to $2 billion in the second quarter, marking an 81% decline year over year."We did see inflows slow this quarter as clients were cautious amidst macro uncertainty," Citi CEO Jane Fraser said in an earnings call Tuesday. "We are confident we will see a pickup here as markets have recovered." Despite the decline, the wider megabank reported a 135% increase in net income compared to the same period last year, reaching $494 million. Citi's wealth unit reported $2.2 billion in revenue, a 20% year over year increase. READ MORE: BofA's private bank lands $5B ex-Citi advisor: Advisor Moves Citi's wealth division reported an organic growth rate of 9% over the last 12 months. The wealth division's operating expenses increased by 1% year over year to $1.6 billion. In May, Citi completed the sale of its alternative investments unit, Citi Global Alternatives, to the fintech company iCapital in an effort to sharpen its wealth arm. While iCapital operates the alternatives platform, Citi will continue distributing the funds and advising clients on alternative investments. On Tuesday's call, Fraser said the partnership with iCapital will provide an "end-to-end solution for our alternative investment offerings." READ MORE: The case for investing in emerging markets, despite underperformance The firm's Citigold unit, which serves clients with at least $200,000 in assets, generated $1.2 billion in revenue in the second quarter. The flagship unit accounted for more than half of the wealth division's total revenue this quarter and marked a 21% year over year increase. Citi's private bank unit, which mostly serves high net worth clients, saw a 20% year over year revenue increase to $731 million. The bank's Wealth at Work unit, which serves law firms and other professionals, saw a 13% year over year revenue increase to $221 million. READ MORE: RBC Wealth sees revenue bump despite tepid asset flows The wealth division made $370 million in revenue from commissions and other fees, representing an 8% increase from the same period last year. Net interest income increased 22% year over year to $1.3 billion. Fraser said that the market outlook has been better than expected. "It's proven to be more resilient than most of us anticipated," she said. "But we aren't dropping our guard as we begin the second half of the year." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-07-2025
- Business
- Yahoo
Alternative investment platform iCapital lands $820m funding
Fintech firm iCapital has raised more than $820m in a financing round co-led by T. Rowe Price Associates, T. Rowe Price Investment Management, and SurgoCap Partners, boosting its valuation to over $7.5bn. The terms of the funding round were not disclosed The company manages $945bn in global assets, including $257bn in alternative platform assets, $203bn in structured investments and annuities, and $485bn in reported client assets. The newly acquired funds will facilitate strategic acquisitions aimed at enhancing the experience for advisors and clients, enabling asset managers to reach a broader investor base, and streamlining operations within the investment ecosystem. T. Rowe Price Private Equity head David DiPietro said: 'iCapital has built a platform that has not only become foundational to private markets investing, but it is also setting the standard for operational excellence in the industry.' iCapital's technology-driven platform integrates alternative investments, structured products, and annuities, offering comprehensive tools for education, transactions, data management, analytics, and client support. As highlighted in BlackRock's 2025 Private Markets Outlook, wealth channel allocations to private markets are projected to reach $20tn by 2030. iCapital supports wealth managers with a unified interface for private markets and traditional assets, featuring streamlined onboarding, document management, performance tracking, and regulatory compliance. For asset managers, the company provides end-to-end solutions, a digital marketplace, customised distribution tools, and AI-powered services. iCapital chairman and CEO Lawrence Calcano said: 'This capital raise reflects our investors' enthusiasm for the opportunity we have to transform the investing experience. More importantly, it enables us to accelerate the work that matters most – delivering differentiated value to our clients.' Since its founding in 2013, iCapital has invested over $700m in its platform and completed 23 acquisitions, including recent deals with Mirador, AltExchange, and Parallel Markets. The company has grown its workforce to 1,875 employees across 16 global offices. The platform now supports over 750 product providers and more than 3,000 wealth management firms globally, with 2,100 funds available and 114,000 active financial professional users. Goldman Sachs acted as financial advisor and placement agent for the transaction, with Ropes & Gray providing legal counsel. Last month, Liechtenstein's GT private bank partnered with iCapital to digitise its alternative investment portfolio, creating a technology platform that integrates with LGT's banking systems. "Alternative investment platform iCapital lands $820m funding" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Entrepreneur
11-07-2025
- Business
- Entrepreneur
iCapital Raises USD 820 Mn, Reaches USD 7.5 Bn Valuation
The capital will be used to support strategic acquisitions that improve the advisor and client experience, empower asset managers to expand their reach and attract a broader range of investors, and create opportunities to reduce friction in the ecosystem for all participants. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Global fintech firm iCapital has secured over USD 820 million in its latest financing round, pushing its valuation past USD 7.5 billion. The round was co-led by accounts advised by T Rowe Price Associates, Inc, T Rowe Price Investment Management, Inc, and SurgoCap Partners, marking a major milestone for the company as it continues to reshape the investment landscape through advanced technology and infrastructure solutions. With USD 945 billion in assets serviced globally including USD 257 billion in alternative platform assets and USD 203 billion in structured investments and annuities, iCapital has steadily become a central figure in the digital transformation of wealth and asset management. "This capital raise reflects our investors' enthusiasm for the opportunity we have to transform the investing experience," said Lawrence Calcano, Chairman and CEO of iCapital. "More importantly, it enables us to accelerate the work that matters most—delivering differentiated value to our clients." The new funds are earmarked for strategic acquisitions aimed at enhancing user experience, broadening investor access, and reducing friction across the investing ecosystem. As demand grows for alternative assets, structured investments, and annuities, iCapital is focused on strengthening its fully integrated platform, which supports education, transactions, analytics, and client service. According to David DiPietro, Head of Private Equity at T Rowe Price, "iCapital has built a platform that has not only become foundational to private markets investing, but it is also setting the standard for operational excellence in the industry." Founded in 2013, iCapital has poured over USD 700 million into its platform to date and completed 23 strategic acquisitions. With a global footprint spanning 16 offices including hubs in New York, London, Zurich, and Singapore, the company now serves more than 3,000 wealth management firms and over 114,000 financial professionals. Michael Kushner, Chief Financial Officer at iCapital, stated, "The proceeds from this capital raise will be strategically deployed to accelerate our acquisition efforts... expanding our data capabilities and advancing the tools and solutions we provide to wealth and asset managers globally." Backed by advanced technologies like AI and machine learning, iCapital continues to provide end-to-end lifecycle management for non-traditional investment products, enabling seamless onboarding, performance tracking, and compliance—all within a single unified interface.
