Strategic partnership will enhance advisory service capabilities for UHNW families
iCapital Network Canada, affiliate of fintech alternative assets platform iCapital, has been appointed investment fund manager in Canada for Prime Quadrant Alternative Investment Access Funds.
Toronto-headquartered Prime Quadrant’s Access LPs are a series of pooled funds each offering exposure to a different alternative asset class including private equity, real estate, private debt, venture capital, and hedge fund. The firm provides advisory services to more than 200 ultra-high-net-worth families in Canada and the US.
Although Prime Quadrant will remain the portfolio manager for the funds, the partnership means that iCapital will assume responsibility for the administrative functions associated with the funds’ operation, such as streamlining and automating onboarding, subscription processing, and lifecycle operations. The firm will provide administrative support for any future alternatives products launched by Prime Quadrant.
“Our relationship with iCapital will ensure Prime Quadrant can scale its ability to meet and exceed our clients’ expectations by leveraging iCapital’s technology and resources to continue developing creative solutions for our families,” explained Mo Lidsky, Prime Quadrant’s CEO. “We are excited to benefit from iCapital’s complete end-to-end solution and operating system to help simplify the many post-trade management activities for our families.”
Expanding opportunities
It’s the first strategic partnership that iCapital has agreed with a family office advisory to manage an existing platform and builds on its provision of alternative investment technology to clients including major global banks.
Welcoming the new partnership, Lawrence Calcano, chairman and CEO of iCapital, said that there are new opportunities emerging for his firm.
“We believe that the multi-family office, independent RIAs, and the dealer wealth channel represent an outstanding opportunity for us to create industry-leading solutions,” he said. “Our goal is to provide a single platform that utilizes our market-leading technology and operating system, offering advisors the tools they need to achieve better scale and efficiency for their alternatives business.”
