The Bank of New York Mellon Corporation (BNY) (NYSE: BK) has announced Alts Bridge, a data, software, and services solution designedt to meet the growing demand from wealth intermediaries looking to access alternative and private market investment products, through a simplified end-to-end investment experience.
Designed to deeply integrate into intermediaries’ existing desktops, “beginning with BNY Pershing X’s Wove advisory platform and NetX360+, with AI and analytics tools that are designed to reduce manual processing and error rates, Alts Bridge creates a powerful solution for investors, advisors, and the home office.”
The platform will provide access to “a curated, comprehensive suite of leading alternative and private market asset managers from around the world, a selection including 26 North, AB CarVal, Alternatives by Franklin Templeton, Apollo, Atalaya, Aviva Investors, Blue Owl Capital, Carlyle, CIFC, Coller Capital, Crescent Capital, Eisler Capital, Generali, GoldenTree, Goldman Sachs, Hunter Point Capital, Invesco, KKR, Lexington Partners a Franklin Templeton Company, Lunate, Marathon Asset Management, Partners Group, Polen Capital, RCP Advisors, and Stormfield Capital.”
The platform will offer features across “the pre-, at- and post-trade processes, including an advisor education and fund discovery center, home office and asset manager tools, product overviews, automated document preparation, simplified order entry, and integrated reporting and investment management capabilities.”
While 90% of advisors are targeting a 10-15% average portfolio weighting “to alternative and private market investments, actual allocations remain in the low single digits.”
Global alternative assets under management are expected to reach $24.5trn in 2028, representing “a forecast annualized growth rate of 8.4% from 2022 to 2028.”
The platform is expected to be “available to U.S. Registered Investment Advisors (RIAs) and Independent Broker-Dealers (IBDs) in fall 2024.”
The initial platform will be available to “clients of BNY Pershing.”
