April 9, 2019
NEW YORK, NY – (BUSINESSWIRE) – iCapital Network, the financial technology platform that is improving access and efficiency in the alternative investment marketplace, today announced it will enter into an exclusive relationship with The Nasdaq Private Market, LLC (NPM) to create an integrated secondary marketplace for iCapital sponsored funds through the NPM platform. The agreement will offer liquidity solutions to advisors and their high-net-worth clients who have private equity investments in their portfolios.
NPM’s qualified matching service will give investors who have holdings in iCapital sponsored funds – on the iCapital flagship platform or on third party platforms powered by iCapital technology – the option to put private holdings up for auction. NPM’s technology will be integrated with iCapital’s platform technology to automate the secondary marketplace, easing the operational process and adding transparency for advisors and their high-net-worth client base.
"We are continually listening to advisors and anticipating their needs to ensure we are delivering a superior set of capabilities. Illiquidity is frequently cited as an obstacle to investing in private asset classes. This partnership with Nasdaq Private Market will provide a crucial tool to help advisors confidently mitigate liquidity obstacles for their clients," said Lawrence Calcano, Chief Executive Officer of iCapital Network. "This is a true milestone in iCapital’s journey to offer the high-net-worth advisory community and their investors the same opportunities to effectively manage an alternatives portfolio that institutional investors have long enjoyed."
iCapital is expected to launch the first auction on the integrated NPM platform later this year. The qualified matching service provided on the NPM Platform will help ensure regulatory compliance throughout the process while matching potential buyers and sellers based on specified terms set by the fund sponsors. The auction process will leverage NPM’s existing list of qualified secondary liquidity providers. iCapital plans to offer liquidity events on a regular basis as participants are identified.
“Our innovative solutions drive the industry forward by improving the efficiency of the secondary markets across all private fund structures,” added Eric Folkemer Head of Nasdaq Private Market. “Partnering with iCapital to bring this complementary technology to their growing platform will help to ease their clients’ access to the private markets.”
About iCapital Network
iCapital Network’s mission is to power the world’s alternative investment marketplace. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers and banks. The firm’s flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Asset managers and banks leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was recognized in the 2018 and 2019 Forbes FinTech 50 which highlights the top 50 innovative financial technology companies that are transforming finance through technology. As of March 31, 2019, iCapital services approximately $40 billion in invested capital across more than 100,000 underlying accounts.
For additional information, please visit the Company’s website at www.icapitalnetwork.com | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Twitter: @icapitalnetwork | Facebook: https://www.facebook.com/icapitalnetwork/
About The Nasdaq Private Market, LLC
The Nasdaq Private Market, LLC (NPM) is a premier liquidity provider to private companies. Whether a company seeks to optimize an eventual IPO or remain private permanently, NPM provides comprehensive technology and capital market support to meet its needs. For certain eligible investors, NPM is a place to engage with some of the most exciting private companies. The information contained herein is provided for informational and educational purposes only. None of the information provided is an offer or solicitation to buy or sell any securities, or to provide any legal, tax, investment or financial advice. Investing in private company stocks is speculative and involves a high degree of risk. You must be prepared to withstand a total loss of your investment. You are strongly encouraged to complete your own independent due diligence before investing in private company stock, including obtaining additional information, opinions, financial projections, and legal or other investment advice. The Nasdaq Private Market, LLC is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner, and does not offer legal advice to any user of the Nasdaq Private Market website or its services. Technology services may be offered by The Nasdaq Private Market, LLC’s subsidiary, SecondMarket Solutions, Inc. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, and SMTX, LLC, a registered broker-dealer, each of which is a member FINRA/SIPC and wholly-owned subsidiary of the Nasdaq Private Market, LLC. Transactions in securities conducted through NPM Securities, LLC or SMTX, LLC are not listed or traded on The Nasdaq Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The Nasdaq Stock Market LLC. Data collected from the SecondMarket platform may include transactions conducted through current and former affiliates of SecondMarket. To learn more, visit www.npm.com.
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This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as, legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by iCapital. Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change. Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. iCapital is a registered trademark of Institutional Capital Network, Inc. All rights reserved.