iCapital, the global fintech shaping focused on improving investing, announced an investment in, and partnership with, Tangible Markets, a liquidity solutions provider for private market positions held via wealth management channels.
Together, the firms will develop scalable liquidity solutions “for alternative investment funds – helping wealth managers, asset managers, and institutional investors unlock value from illiquid holdings.”
The partnership also supports the “longer-term evolution of private markets, as enhanced liquidity becomes increasingly essential to expanding participation for advisors and their clients.”
Tangible’s liquidity solutions are “expected to be available through iCapital’s platform by the end of 2025.”
This partnership introduces a range of liquidity solutions “for alternative investment funds, and access to Tangible Markets solutions will be facilitated through iCapital’s platform.”
The result is a seamless, transparent experience that “connects a buyer-seller network, enhances price discovery, and streamlines transaction execution – making alternative investments more accessible and dynamic.”
The liquidity solution creates digital experiences “for managing liquidity across a broad range of strategies, including private equity, private credit, real assets, and hedge funds.”
Through regular auctions, advisors and qualified investors “can efficiently rebalance portfolios, access liquidity when needed, and adjust exposure to alternative investment funds.”
This partnership will reduce friction “in secondary transactions and accelerate time-to-liquidity for advisors and clients.”
Sellers benefit from curated auctions, “real-time pricing insights, and portfolio analytics that help unlock value from traditionally illiquid assets across both closed-ended and semi-liquid funds.”
For buyers, the platform offers “access to high-quality alternative investments and a frictionless closing process, supporting faster deployment and more diversified portfolios.”
With global alternative assets under management projected “to grow from $16.8 trillion at the end of 2023 to $29.2 trillion by 20292, advisors are increasingly interested in flexible liquidity solutions for these complex assets.”
iCapital is addressing long-standing barriers – including “longer lock-up periods, traditionally high minimums, and operational complexity – by offering secondary market access that does not depend on a fund’s natural exit cycle.”
This is especially important for limited partners who may “need to redeploy capital, meet cash flow needs, or adjust portfolio exposures by strategy, geography, and maturity.”
This partnership reinforces iCapital’s broader strategy “to build a private markets ecosystem – one that helps advisors and clients to manage alternative exposures with greater agility.”
Embedding liquidity into the infrastructure of private markets supports the maturation of the asset class and aligns “with evolving investor preferences and portfolio construction goals.”
Tangible supports liquidity solutions “within the wealth sector, implementing its platform solutions with leading wealth managers and GPs globally.”
Their technology enables both buyers and sellers to “underwrite, exchange, and close transactions at scale – as small as $75,000 and over $250 million.”
Terms of the agreement were “not disclosed.”
iCapital is a global firm focused on “shaping the future of global investing for financial advisors, wealth managers, asset managers, and other industry participants.”
iCapital offers a range “of non-traditional investment products on iCapital Marketplace, Enterprise Solutions, and both Technology and Data Services, designed to help drive better outcomes.”
With strategic investment from alternative asset managers, wealth managers, and service providers, iCapital provides “access, data connectivity, education, and research programs to advisors and their clients.”
Leveraging AI and machine learning for “digital identity (KYC/AML), iCapital supports compliant and secure investment lifecycle processes.”
iCapital’s end-to-end platform manages “the lifecycle of non-traditional investment products, making it easier to learn about, buy, manage, and integrate alternative assets, structured investments, and annuities into portfolios, driving growth, scale, and efficiency.”
Their solution(s) can be customized and “offers specific modules as needed.”
As noted in the update, iCapital says it has $994 billion of assets serviced globally on its platform, “including $266.5 billion in alternative platform assets, $215 billion in structured investments and annuities outstanding, and $512.7 billion in client assets reported on, and serving over 3,000 wealth management firms and 116,000 active financial professionals.”
Headquartered in New York, iCapital operates globally “with 16 offices, including major hubs in Zurich, London, Hong Kong, Singapore, Tokyo, and Toronto, and an industry-R&D center in Lisbon.”
Tangible is the liquidity solutions provider “for private market positions held via wealth management channels.”
It has partnered with over 100 secondary investors to “offer on-demand liquidity through its Auctions platform and recurring liquidity through Liquidity Hub, a Qualified Matching Service tailored specifically for wealth investors.”
To meet the full spectrum of client needs, Tangible has also “launched a NAV lending capability.”
Its clients include “bulge-bracket banks, pensions, endowments, foundations, independent multi-family offices, RIAs, and family offices.”
Clients benefit from Tangible’s technology platform which includes “liquidity monitoring and management, empowering them to make informed, data-driven decisions across their private market holdings.”