Nuveen and iCapital extend their investment pact
iCapital is part of a shift in the way alternative assets such as private equity and hedge funds are accessed by HNW and other investors. Nuveen, the investment arm of a major US teacher union pension fund, oversees more than $ 1.2 trillion in assets.
Nuveen, the investment firm overseeing $ 1.2 trillion in assets, has extended its partnership with fintech investment platform iCapital Network. Under the pact, iCapital will provide technology, service, advisory and distribution solutions to advisors and their high net worth clients seeking access to Nuveen’s real estate and private equity offerings.
New York-based iCapital touts itself as an offering that “democratizes” how HNW investors can tap into alternative investment areas such as private equity and hedge funds, previously difficult to grasp for all but the richest investors. Interest in alternative assets has grown due to their superior returns in a very low or negative interest rate environment.
“From real estate and real estate assets to private credit, providing alternative investment opportunities can help advisors and their clients generate additional alpha and navigate a low interest rate environment,” said Mike Perry, Head of Nuveen’s global customer group. “By expanding our partnership with iCapital, we are able to offer more asset classes and alternative investment brands, today and in the future, to a wider range of clients with solutions that ‘fit perfectly into our offer.
In the case of Nuveen, the value of the alternative assets it manages is over $ 220 billion. Nuveen is the investment manager of Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA.) As of March 31, iCapital Network manages $ 73 billion in global client assets in more than 760 funds.
In May, iCapital said it was strengthening its international footprint, naming its first hire of Asian executives. She appointed Edwin Chan as Head of Client Solutions, Asia. In addition, he appointed Manuel Faccio as Head of Customer Solutions, Europe. Chan is based in Hong Kong, where iCapital is opening a new office. Faccio is based in the iCapital office in Zurich.
Nuveen’s real estate business recently made a number of new hires, particularly in the Asia-Pacific region.