Private equity giant Carlyle partners with iCapital and Allfunds to push wealth

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Private equity group Carlyle has extended its reach to the wealth management channel, through a partnership with fintech platform iCapital and wealth technology firm Allfunds.

Carlyle, which has raised more than $40bn (£29.5bn) from high net worth individuals since its inception, will offer a selection of its private markets funds to Allfunds clients via the iCapital platform. Citywire understands that the funds will also be available to other users of the iCapital platform.

The partnership follows a combination between iCapital and Allfunds, announced in June, which provides the latter’s distributors, individual investors and small institutional investors with access to the former’s technology and funds, which invest in equity. investment, private debt and real assets across different Regions.

“Individual investors are increasingly looking for ways to invest in private markets and we are delighted to partner with iCapital and Allfunds to make Carlyle funds available to them,” said Paul Ferraro, Global Head of Carlyle Private Wealth. .

“Our private wealth segment has been an important component of our business for decades and we are excited to open this channel as we continue to grow in the space.”

Carlyle, which manages $293 billion in assets, deploys private capital in private equity, credit and global investment solutions. The company is currently in the market with its latest flagship fund, which aims to raise up to $27 billion, according to Bloomberg.

It is the latest group to expand its reach into the private wealth market.

Last year, Apollo Global Management created a business dedicated to global wealth management solutions and, in its latest investor presentation, said that over time it expects the wealth channel accounts for approximately 30% of all capital raised.

Elsewhere, Blackstone, the world’s largest private equity firm, has extended the reach of its Private Wealth Solutions business, opening offices in Paris and Zurich. According to the company’s latest update, more than 20% of the approximately $881 billion in assets come from retail clients.

Meanwhile, BlackRock has also partnered with iCapital to prepare a series of private market fund launches targeting wealth managers.

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