WELCOME TO OUR MONTHLY NEWSLETTER.
The source for navigating the world of alternative investments
Broader Access to Private Funds
Last month, the SEC renewed a push to expand access to the private markets to a wider range of investors. In prepared remarks, SEC Chairman Paul Atkins directed the agency to reconsider rules preventing certain investors from investing in closed-end funds. Still far from a sure thing, it’s the latest sign of efforts to open the door for broader access to private markets investments.
At iCapital, we believe innovation is significantly transforming the investing experience. The growth in registered products will continue to be important in making private market investments available to a wider range of investors. Regardless of any regulatory change; education, technology and product innovation are fundamental building blocks for both advisors and investors to navigate the private markets.
To learn more about the private market education and investment opportunities available at iCapital, please contact us by reaching out to our sales team ([email protected]), a relationship manager or visit iCapital Marketplace.
Dan Vene
Co-Founder and Managing Director,
Co-Head of iCapital Solutions
CHART OF THE MONTH
Registered fund asset growth by structure
NEW FROM iCAPITAL
Alternatives Decoded – Q2 2025
iCapital’s Alternatives Decoded release for Q2 2025 includes the latest data on market performance, fund flows, deal activity and valuation across private market and hedge fund strategies.
BEYOND 60/40
Alternative Plays: Sports and Structured Investments
In this episode of Beyond 60/40, iCapital explores two fast-evolving corners of the alternative investment space.
Mark Wade of CAZ Investments breaks down the firm’s unique approach to sports investing, sharing why North America’s major leagues present a resilient, long-term opportunity. Then, Raul Perez of Wells Fargo explains how technology and structured investments are reshaping client engagement and portfolio design. Whether you’re a GP or advisor, this episode is packed with practical insights and future-facing ideas.
MARKET PULSE
Reevaluating Your Portfolio: Is a Rotation Due?
Markets are gaining momentum, trade tensions are cooling, and soft data is finally catching up. All are signaling that the worst-case scenario may be behind us. Even despite the risks, it might be time to rethink portfolio positioning. Specifically, we would favor rotating into cyclicals such as financials and industrials, and alternative investments like digital infrastructure.
MONTHLY MARKET ROUNDUP
Private wealth represents the largest and fastest-growing pool of capital globally, while also being the least exposed to alternatives today. Interest in private markets from individuals continues to grow, and we expect to see more participation going forward as new solutions designed to cater to individuals’ needs are developed. In this piece, Kyle Kniffen shares his views on the fundraising environment, the market opportunity and product innovation addressing the private wealth market.
Explore Partners Group’s new Private Markets Chartbook, offering insights into key themes shaping private market investment strategies. This chartbook examines how disciplined investors can find opportunities amid macroeconomic and geopolitical complexity and centers on three critical themes: a) Implications of Trump policies on private markets, b) Evolving balance of risks between the US and Europe, and c) Consequences of (potentially) fewer rate cuts versus prior expectations.
Rewriting the Credit Playbook The blurring lines between public and private credit are reshaping capital markets, creating new opportunities for investors to diversify and enhance returns through a comprehensive portfolio of assets from across the credit universe. Watch PGIM’s webinar replay to gain critical insights and strategies for navigating this evolving landscape.
CLIENT SPOTLIGHT
Advisor Best Practices: How AlphaCore Uses iCapital Architect
At iCapital, we continuously strive to help advisors deliver differentiated, personalized investment strategies. See how AlphaCore, a leading RIA, utilizes Architect, iCapital’s alternatives portfolio construction product, to more effectively serve their clients.
IN CASE YOU MISSED IT
Asset-Based Lending: Unpacking the Risks and Rewards
Asset-based lending (ABL) is stepping into the spotlight as a compelling alternative to direct lending, offering access to high-yield, underexplored credit opportunities. Learn why more private credit managers are launching dedicated strategies and how investors can navigate its complexities to diversify their portfolios.
IMPORTANT INFORMATION
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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