Press Releases

Press Releases
Fidelity® Launches Expanded Private Equity Platform for Financial Intermediaries

April 28, 2016

Financial Advisors and Family Office Professionals to Gain Greater Access to Private Equity Funds for Qualified Clients Through New Strategic Relationship with iCapital Network and Expanded Relationships with CAIS and Goldman Sachs Asset Management

BOSTON — (BUSINESS WIRE) — Fidelity Institutional — the division of Fidelity Investments® that provides clearing, custody and investment management products to registered investment advisors, broker-dealers, family offices and banks — today announced the expansion of its alternative investments platform, which will now provide access to a wide range of private equity funds for all Fidelity Institutional clients.

Fidelity’s alternative investments platform, launched in October 2013, provides research, education and third-party due diligence, as well as access to a wide range of alternative investment products. This expansion of the platform provides financial advisors and family office professionals with increased access to private equity funds through a new strategic relationship with iCapital Network and expanded relationships with CAIS and Goldman Sachs Asset Management (GSAM).

“Delivering increased access to private equity has been a priority since we launched our alternative investments platform more than two years ago,” said Mark Haggerty, head of product for Fidelity Institutional. “Advisors have been looking for an effective way to leverage this type of investment strategy. By working with some of the major providers in the private equity space, we believe our offering gives advisors who are interested in private equity the tools to efficiently evaluate and incorporate these investments into their clients’ portfolios.”

Fidelity’s strategic alliances with iCapital, CAIS and GSAM will provide financial advisors and family office professionals with access to, as well as research and education about, private equity products:

  • iCapital Network provides a curated selection of single-manager, multi-manager, and vintage year private equity investments at $100,000 minimums, supported by a complement of research and diligence tools, and operational integration with Fidelity’s platform to facilitate access and execution. iCapital’s custom solutions give RIAs, broker-dealers and family offices the ability to create dedicated access vehicles with any combination of alternative managers and strategies with complete administrative services.

  • CAIS’ product platform will continue to provide access to a diversified and growing menu of hedge funds and private equity funds at lower investment minimums, including Mercer’s proprietary Private Equity Fund of Funds. CAIS also provides electronic subscriptions, integrated reporting on Fidelity client statements, and portfolio construction and reporting tools, complemented by independent due diligence provided by Mercer.

  • GSAM will provide access to portfolios of external private equity managers utilizing its rigorous process of selecting managers, constructing portfolios and managing risk. Additionally, GSAM will offer external hedge fund manager solutions and alternative investment thought leadership for clients.

  • In addition, through Fidelity’s Alternative Investments Network, clients can access registered private equity products for accredited investors.

Fidelity will continue to offer comprehensive services for financial advisors and family office professionals using the platform, including aggregated reporting, custody, trading, clearing and execution. Together, these services and features will provide financial advisors and family office professionals with greater accessibility to private equity funds and a streamlined process for incorporating them into clients’ portfolios.

About Fidelity Investments

Fidelity’s goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.2 trillion, including managed assets of $2.0 trillion as of March 31, 2016, we focus on meeting the unique needs of a diverse set of customers: helping more than 25 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing nearly 10,000 advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for nearly 70 years, Fidelity employs 45,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.

iCapital Network, CAIS, Goldman Sachs and Mercer are independent companies and unaffiliated with Fidelity Investments. There is no form of legal partnership, agency, affiliation, or similar relationship between these third-party service providers and Fidelity Investments.

The registered trademarks and service marks appearing herein are the property of FMR LLC.

Fidelity Family Office Services is a division of Fidelity Brokerage Services LLC. Fidelity Clearing & Custody SolutionsSM provides clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC, Members NYSE, SIPC.

Fidelity Investments Institutional Services Company, Inc., 500 Salem Street, Smithfield, RI 02917

757920.1.0

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