๐๐ง๐๐ ๐ ๐ฎ๐ธ๐ฒ๐ ๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ถ๐ฐ ๐๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐ ๐ถ๐ป ๐ถ๐๐ฎ๐ฝ๐ถ๐๐ฎ๐น ๐๐ผ ๐๐๐ถ๐น๐ฑ ๐ฃ๐ฟ๐ถ๐๐ฎ๐๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐ ๐๐ป๐ณ๐ฟ๐ฎ๐๐๐ฟ๐๐ฐ๐๐๐ฟ๐ฒ
The Depository Trust & Clearing Corporation (DTCC) and iCapital announced a strategic collaboration on September 28 to advance private markets infrastructure, alongside a strategic investment by DTCC in iCapital. Terms were not disclosed. The firms plan to further integrate DTCC's Alternative Investment Product (AIP) with iCapital's alternative investment platform, and Talia Klein, DTCC's Head of Wealth & Investment Solutions, will serve as an observer on iCapital's board.
iCapital provides a marketplace, enterprise solutions, and technology and data services that help financial advisors and wealth managers access and manage alternative investments, structured investments and annuities. The platform services $1.2 trillion in assets globally, including $327 billion in alternative platform assets, and serves nearly 3,900 wealth management firms and 144,000 active financial professionals. The partnership will connect transaction processing, data exchange, administration and reporting across the private investment lifecycle, and the firms will explore blockchain-enabled distributed ledger technology and tokenization where appropriate.
The deal speaks directly to the Alts2Wealth theme. Advisors want alternatives, and managers want access to wealth channel capital, but transparency, liquidity, onboarding friction and manual processing still slow adoption. DTCC CEO Frank La Salla said broader adoption "will depend on making the ecosystem easier to navigate, more efficient to operate, and highly resilient." Tying post-trade infrastructure to a distribution platform already used across thousands of wealth firms is the kind of plumbing that moves private investments closer to the standardized processing advisors expect from traditional funds.
MMnote: iCapital is moving from being a marketplace for alts to being the rails they run on. Alts2Wealth needs more infrastructure partnerships like this before alts become a normal part of the advisor's toolkit.
