The business is an example of how rising demand for alternative assets such as private equity and credit has in turn driven a need for more efficient access.
CAIS, the US-based alternative investment platform recently interviewed here, has announced a $225 million funding round led by Apollo and Motive Partners, with additional investment from Franklin Templeton. The fundraising values CAIS at more than $1 billion.
This new funding injection comes after investment by Eldridge.
Blythe Masters, founding partner of Motive, and Andrew Gosden, managing director in financial services and strategy at Apollo, will join CAIS’s board of directors, CAIS said in a statement yesterday.
The rise of organizations such as CAIS and iCapital – another platform for alternative investments – comes at a time when wealth managers’ interest in private market investments, hedge funds, real estate and commodities continues.
CAIS referred to comments from the Chartered Alternative Investment Analyst Association, showing that alternative assets are expected to make up to 24 per cent of the global investible market by 2025, more than doubling from 12 per cent in 2018.
Financial Technology Partners served as financial advisor to CAIS on the transaction.