WELCOME TO OUR MONTHLY NEWSLETTER.
Designed to serve as your primary source for navigating the world of alternative investments.
Introducing Alternatives Decoded – an up-to-date analysis of the alternative investment landscape
iCapital introduced Alternatives Decoded, a comprehensive overview of alternative investments across the private markets.
We designed 
as a chart-driven narrative with market data, timely market trends and leading indicators that influence and shape the direction and investment outlook of alternative assets.
Alternatives Decoded includes:
- In-depth analysis of private market data
- Key market trends and leading indicators
- Comprehensive insights to stay ahead when analyzing alternatives
- And much more
To learn more, visit the website, contact our sales team (
) or log in to the 
.
Dan Vene
Co-Founder and Managing Partner,
Co-Head of iCapital Solutions
CHART OF THE MONTH
iCAPITAL ACQUIRES ALTEXCHANGE
We have acquired AltExchange, a leading AI-driven technology firm transforming alternative investment data aggregation, management, and reporting for financial advisers and asset managers. This agreement will enhance our data management capabilities, streamlining post-investment processes and improving decision-making for private markets participants.
BEYOND 60/40
Alternatives Adoption & Structured Product Management
sits down with 
to discuss the early-stage adoption of alternative investments, including private equity, private credit, real estate, and infrastructure
MARKET PULSE
Beyond the Election
The U.S. presidential election has taken place, the Fed continues to cut rates and the S&P 500 has surpassed 6,000. Although uncertainty remains, the markets are cheering the prospect of no tax hikes and perhaps even tax cuts in 2025 and 2026. We believe it is not too late to position for the policies likely to be determinants of investment strategy over the next two, and potentially four, years.
MONTHLY MARKET ROUNDUP
The generational challenge for investors to replace or complement fixed income will be with us for a long time. Read a new strategy note from FS Investments’ Chief Market Strategist Troy A. Gayeski, CFA, on how alternatives offer a viable solution.
Find out why global real estate investment manager Hines believes that after years of turmoil, the global retail sector has adapted to a new demand reality and reemerged as a compelling risk-adjusted opportunity for investors.
The latest Preqin Quarterly data shows that most asset classes and regions faced challenging fundraising and deal-making conditions in the third quarter of 2024. Investors indicate that they are willing to hold or increase allocations to private capital, despite a higher-for-longer interest rate horizon, electoral uncertainties, and a muted exit environment.
IN CASE YOU MISSED IT
Beyond 60/40: Defined Outcome Solutions
In this clip, and 
explore the rising trend of defined outcome investing, the strategic and tactical benefits these investments can provide, and the surge in popularity driven by favorable market conditions.
IMPORTANT INFORMATION
1. Note: Historical AUM is through March 2024 and forecasted AUM is through December 2029. Data is subject to change based on updates to the source(s) database. Both historical and forecasted AUM exclude RMB-denominated funds for data accuracy, as well as fund of funds and secondaries to prevent double counting of available capital and unrealized value. Historical AUM for private equity, venture, private credit, and real assets is sourced from Preqin, while hedge fund data is from HFR. Forecasted AUM for all strategies, including Hedge Funds, is sourced from Preqin and is based on their Future of Alternatives report, which models projected AUM using various variables. AUM figures include all private capital asset classes broken down by primary strategy as defined by Preqin. Natural Resources AUM is limited to pure-play natural resource-type funds only, with more traditional/old-school natural resource-type funds, such as Oil & Gas, categorized under Private Equity as defined by Preqin.
The material herein has been provided to you for informational purposes only by Institutional Capital Network, Inc. (“iCapital Network”) or one of its affiliates (iCapital Network together with its affiliates, “iCapital”). This material is the property of iCapital and may not be shared without the written permission of iCapital. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of iCapital.
This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as, legal, tax or investment advice, a recommendation, or as an offer or solicitation to buy or sell any security, financial product or instrument, or otherwise to participate in any particular trading strategy. This material does not intend to address the financial objectives, situation, or specific needs of any individual investor. You should consult your personal accounting, tax and legal advisors to understand the implications of any investment specific to your personal financial situation.
ALTERNATIVE INVESTMENTS ARE CONSIDERED COMPLEX PRODUCTS AND MAY NOT BE SUITABLE FOR ALL INVESTORS. Prospective investors should be aware that an investment in an alternative investment is speculative and involves a high degree of risk. Alternative Investments often engage in leveraging and other speculative investment practices that may increase the risk of investment loss; can be highly illiquid; may not be required to provide periodic pricing or valuation information to investors; may involve complex tax structures and delays in distributing important tax information; are not subject to the same regulatory requirements as mutual funds; and often charge high fees.
There is no guarantee that an alternative investment will implement its investment strategy and/or achieve its objectives, generate profits, or avoid loss. An investment should only be considered by sophisticated investors who can afford to lose all or a substantial amount of their investment.
iCapital Markets LLC operates a platform that makes available financial products to financial professionals. In operating this platform, iCapital Markets LLC generally earns revenue based on the volume of transactions that take place in these products and would benefit by an increase in sales for these products.
The information contained herein is an opinion only, as of the date indicated, and should not be relied upon as the only important information available. Any prediction, projection or forecast on the economy, stock market, bond market or the economic trends of the markets is not necessarily indicative of the future or likely performance. The information contained herein is subject to change, incomplete, and may include information and/or data obtained from third-party sources that iCapital believes, but does not guarantee, to be accurate. iCapital considers this third-party data reliable, but does not represent that it is accurate, complete and/or up to date, and it should not be relied on as such. iCapital makes no representation as to the accuracy or completeness of this material and accepts no liability for losses arising from the use of the material presented. No representation or warranty is made by iCapital as to the reasonableness or completeness of such forward-looking statements or to any other financial information contained herein.
Securities products and services are offered by iCapital Markets, an SEC-registered broker-dealer, member FINRA and SIPC, and an affiliate of iCapital, Inc. and Institutional Capital Network, Inc. These registrations and memberships in no way imply that the SEC, FINRA, or SIPC have endorsed any of the entities, products, or services discussed herein. Annuities and insurance services are provided by iCapital Annuities and Insurance Services LLC, an affiliate of iCapital, Inc. “iCapital” and “iCapital Network” are registered trademarks of Institutional Capital Network, Inc. Additional information is available upon request.
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