Key Takeaways
- • Nuveen, the investment manager of TIAA with $1.2 trillion in assets under management as of 31 Dec 2020, and iCapital Network expanded their partnership to give advisors and high-net-worth clients access to Nuveen's real estate and private capital offerings.
- • iCapital will provide a customized technology, service, advisory and distribution solution that automates subscription, administration, operational and reporting processes for the life of each alternative investment.
- • Nuveen cites more than $220 billion in alternative assets under management and over 40 years as an active private capital investor as the basis for the expanded access.
- • iCapital, which services $73 billion in global client assets across more than 760 funds as of March 31, 2021, positions the arrangement as a way to bring institutional-style alternatives to accredited investors.
Summary
Nuveen and iCapital Network have announced an expanded partnership under which iCapital will provide a customized technology, service, advisory and distribution solution for advisors and their high-net-worth clients seeking access to Nuveen's real estate and private capital offerings, according to a Business Wire release dated April 21, 2021.
The iCapital offering is designed to address long-standing challenges in alternative investing. Its technology automates the subscription, administration, operational and reporting processes across the life of each investment, and iCapital also provides research, due diligence and educational materials to advisors and investors. The arrangement is described as a custom technology and distribution agreement intended to simplify access to select Nuveen alternative investing products for accredited investors.
Mike Perry, head of Nuveen's Global Client Group, said alternatives can help advisors and their clients generate additional alpha and navigate a low-rate environment, citing real estate, real assets and private credit. He said the expanded partnership will bring more asset classes and alternative investment brands to a broader set of clients over time. The release states that the partnership comes amid surging interest in alternatives from the wealth management community, particularly among accredited investors who have historically lacked appropriately structured access.
Lawrence Calcano, Chairman and CEO of iCapital Network, said that beyond providing quality funds, automation easing investing and servicing processes is key to unlocking the asset class for advisors.
Nuveen, the investment manager of TIAA, reported $1.2 trillion in assets under management as of 31 December 2020 and more than $220 billion in alternative assets under management, with operations in 27 countries. iCapital, which was recognized in the 2018, 2019 and 2020 Forbes FinTech 50 and named Solutions Provider of the Year in the 2020 MMI/Barron's Industry Awards, reported more than 400 employees and $73 billion in global client assets across more than 760 funds as of March 31, 2021.
The iCapital offering is designed to address long-standing challenges in alternative investing. Its technology automates the subscription, administration, operational and reporting processes across the life of each investment, and iCapital also provides research, due diligence and educational materials to advisors and investors. The arrangement is described as a custom technology and distribution agreement intended to simplify access to select Nuveen alternative investing products for accredited investors.
Mike Perry, head of Nuveen's Global Client Group, said alternatives can help advisors and their clients generate additional alpha and navigate a low-rate environment, citing real estate, real assets and private credit. He said the expanded partnership will bring more asset classes and alternative investment brands to a broader set of clients over time. The release states that the partnership comes amid surging interest in alternatives from the wealth management community, particularly among accredited investors who have historically lacked appropriately structured access.
Lawrence Calcano, Chairman and CEO of iCapital Network, said that beyond providing quality funds, automation easing investing and servicing processes is key to unlocking the asset class for advisors.
Nuveen, the investment manager of TIAA, reported $1.2 trillion in assets under management as of 31 December 2020 and more than $220 billion in alternative assets under management, with operations in 27 countries. iCapital, which was recognized in the 2018, 2019 and 2020 Forbes FinTech 50 and named Solutions Provider of the Year in the 2020 MMI/Barron's Industry Awards, reported more than 400 employees and $73 billion in global client assets across more than 760 funds as of March 31, 2021.
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