iCapital, Envestnet Expand Partnership to Streamline Alts in UMAs
iCapital and Envestnet announced an expansion of their strategic partnership, aimed at simplifying how financial advisers integrate alternative and structured investments into client portfolios.
The collaboration centers on embedding iCapital’s alternative investment capabilities directly into Envestnet’s unified managed account, or UMA, platform. The integration allows advisers to manage private equity, private credit and structured investments alongside traditional stocks and bonds within a single account structure.
By connecting iCapital’s technology into Envestnet’s adviser-traded sleeves, the companies say they address a workflow challenge – speeding up the administration of alternatives within diversified portfolios.
“Embedding iCapital into Envestnet’s UMA platform allows advisers to incorporate alternatives and structured investments within a single account structure,” said Gary Gallagher, president of iCapital. He noted that the move is essential for supporting “diversification, scale, and consistency” as these assets become core portfolio components.
Last month, iCapital and Aladdin Wealth – BlackRock’s technology platform for wealth managers – launched a similar integration linking their alternative investment technologies into a unified workflow for financial advisers managing private market assets alongside traditional public holdings.
Features of the expanded partnership include single sign-on capability and unified reporting, allowing alternatives performance to be monitored and reported within the same framework as public market holdings.
This development builds on other recent collaborations between the two firms. Envestnet recently onboarded two iCapital-managed products: iDPC, a private credit fund, and a separately managed account, i.e., SMA, called outcome defined strategy. Both are now available within models and portfolios on the Envestnet platform.
Dana D’Auria, co-chief investment officer and group president of Envestnet Solutions, emphasized the importance of a “unified portfolio experience.” She stated that the expansion is about “making it easier for advisers to deliver more sophisticated portfolios within a single, cohesive framework.”
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