No, iCapital’s platform is free for users that meet the definition of 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 registered investment advisors, broker-dealers, family offices and other financial advisory organizations that are expressly interested in private investments on behalf of their clients. As of June 30, 2018, our Investor Network had approximately 2,700 registered users whose aggregate investable assets exceed $1.9 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 their clients. All investors 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.
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 their clients. All members have completed an online verification process ensuring that they are both an accredited investor and a qualified purchaser.
If you are a fund manager, please send an inquiry to email@example.com to be connected with our in-house Research & Diligence group.