iCapital has made a strategic investment in Tangible Markets, deepening its commitment to solving the liquidity challenges of private markets. Through this partnership, Tangible’s technology for facilitating secondary transactions — including periodic auctions, qualified matching services, and NAV-based lending — will be integrated into the iCapital platform by late 2025. This development will provide wealth managers, asset managers, and institutional investors with new ways to rebalance portfolios and unlock liquidity across private equity, private credit, real assets, and hedge funds.

The collaboration is designed to bring greater efficiency, transparency, and speed to a historically-fragmented secondary market, where liquidity has long been a constraint for investors in alternatives. By combining iCapital’s large-scale distribution network with Tangible’s market infrastructure, the initiative aims to create a seamless marketplace for both buyers and sellers. For advisers and institutions, this integration means improved flexibility in portfolio construction, better liquidity planning, and the ability to more effectively manage client needs.

Ultimately, the move underscores iCapital’s desire to be a key infrastructure provider for alternative investments, expanding its technology stack beyond access and administration into liquidity solutions—an increasingly vital component of the private markets ecosystem.

KNote:
iCapital did try this before with NASDAQ but it fell through. Perhaps persistence will pay off this time around. It certainly feels to me like now is the time. The landscape is rapidly evolving and has changed significantly even over the last 6 months.

And, given that NASDAQ is out and Tangible, a company that had not even raised any institutional capital, is in, tells us a lot about the opportunity set for early stage WealthTech companies in this space.

Read the original article here.