UBS Invests In HNW-Focused Alternative Investments Platform

Tom Burroughes

13 July 2017

iCapital Network, US-based financial technology platform focused on high net worth individuals, has secured an investment from UBS Financial Services, joining lead investor BlackRock as a strategic partner.

Founded in 2013, iCapital’s online platform gives clients a menu of investments such as hedge funds and private equity funds. iCapital said it provides an end-to-end technology solution automating the particular subscription, administration and reporting processes of these investments.

The size of UBS’s investment in the business wasn’t disclosed.

UBS said it will bring iCapital’s proprietary technology into its private fund operations.

“We are excited to re-engineer our alternatives infrastructure and equip our financial advisors with the efficiencies, intelligence and controls of tech-enabled workflows,” Jerry Pascucci, managing director at UBS and Head of Alternative Investments, Wealth Management Americas, said.

As of June 30, 2017, iCapital had logged more than $2.25 billion in private fund subscriptions for more than 3,500 investors.