Alternative investment platform iCapital reached over $200 billion in global assets this September, doubling the volume of assets on the platform in nine months. Of that sum, approximately $172 billion comes from U.S. investors and $28 billion from international.
The growth in assets coincides with the increase in the number of funds and managers available on the platform over the past several years. Currently, iCapital has 1,630 funds from more than 600 asset managers. That represents a 77% increase in funds available on the platform compared to December 2021. Assets available through these funds include alternatives, structured investments and annuities. Earlier this year, iCapital also launched a model portfolio option for financial advisors.
“iCapital is honored to help more financial advisors than ever grow their businesses through the use of our technology and end-to-end operating platform,” Chairman and CEO Lawrence Calcano said in a statement. “Our customers are and will continue to be the cornerstone of everything we do.”
In addition, iCapital announced that over 104,000 financial professionals have completed transactions on its platform over the past 12 months, averaging about four visits per month. Earlier this year, iCapital revealed that 170 new advisory firms joined its platform in the first six months of the year. Overall, it reported that 2,500 wealth managers were using its services as of July, including approximately 2,250 independent wealth advisors.
iCapital, which already operates multiple international offices in Europe and Asia, plans to open offices in Australia and the Middle East in the next six months.
“There is an ongoing shift in the role of public versus private markets in supporting growing, profitable companies. It’s increasingly important for private investors around the world to have the opportunity to access private markets so they can benefit from the value creation, which is nowadays increasingly happening outside of the public markets because companies are remaining private longer,” said iCapital Head of International Marco Bizzozero in a statement.