No, iCapital’s platform is free for qualified purchasers.
A qualified purchaser is an individual who owns at least $5 million in investable assets or an entity, such as a family office or an advisory firm, that oversees at least $25 million in discretionary assets. More information about qualified purchasers can be found on the Securities and Exchange Commission’s website at www.sec.gov.
In the majority of cases, registration can be completed in a matter of minutes. You will be prompted to set up a user name and password, enter and confirm your contact information, answer a few questions about your qualified purchaser status and verify with an e-signature. Someone from iCapital’s Investor Relations team will contact you when your membership has been activated.
iCapital’s Investor Network is a group of high-net-worth investors, registered investment advisors, broker-dealers, family offices and other financial advisory organizations that are expressly interested in private investments. As of YE 2015, our Investor Network had more than 750 members whose aggregate investable assets exceeded $1.3 trillion.
Access to private investments, such as private equity and hedge funds, that may not be available to retail investors at minimums that are significantly below industry norms.
Invitations to exclusive informational events with fund managers and industry leaders.
Due diligence reports and fund manager presentations to support your own investment research efforts.
Interactive search and benchmarking tools that allow you to compare funds, managers, historical performance and other key metrics.
An online investment portal that simplifies the completion and execution of subscription documents, capitals calls, financial statements and tax reporting.
A Private Access Fund, or PAF, is a feeder fund established and managed by iCapital which aggregates the commitments from a group of investors into an underlying investment. Through feeders, smaller investors can get access to institutional-quality funds they may not be able to access on their own at commitment sizes far below what is typically required to invest directly in private equity and hedge funds (usually $5 million minimum). iCapital PAFs provide qualified investors with access to these funds at minimums as low as $100,000, depending on the specific fund. In this arrangement, iCapital is both a general partner of the PAF and a limited partner into the underlying investment.
Investors may include registered investment advisors, family offices and individual qualified purchasers. All purchasers must be both a Qualified Purchaser and an Accredited Investor.
Investor minimums vary with each Private Access Fund and are disclosed on the fund detail page which can only be accessed by users who have completed the investor suitability questionnaire and verification process. Investment minimums generally start at $100,000, but may vary depending on the underlying investment.
When iCapital offers a Private Access Fund, qualified investors who have invested receive supporting fund statements, performance calculations, secure data room document storage, and email notifications for capital calls, distributions, and other fund related events.
Fund profile information is provided by one of iCapital Network’s strategic data partners who gather data from both fund managers and the public domain. We encourage fund managers to register with iCapital Network and update their fund information directly on iCapital with our secure administrative tools. All fund data clearly indicates whether such data was provided by the fund manager or one of iCapital Network’s strategic data providers and includes both the date updated as well as the “as of” date.
Members of iCapital’s Investor Network can view fund information on the platform. Our Investor Network is comprised of registered investment advisors, financial intermediaries such as broker-dealers and private banks, family offices and high-net-worth investors. All members have completed an online verification process ensuring that they are both an accredited investor and a qualified purchaser.
Registered fund managers have the ability to edit and update their information directly on iCapital using our secure administration tools. If you are a fund manager, please contact firstname.lastname@example.org for further detail on updating your information.