iCapital Network® and Pershing Enhance Technology Integration to Improve Alternative Investing Experience for Advisors

Automates Document Uploads and Streamlines Custodian Workflows and Reporting

Eases Operational Burdens, Increases Data Security and Reduces Manual Errors

NEW YORK–(BUSINESS WIRE)–iCapital Network¹, the leading financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, today announced an enhanced technology integration with BNY Mellon’s Pershing (“Pershing”) that will simplify the process for advisors accessing alternative investments.

Pershing provides broker-dealers and registered investment advisors (RIAs) with a suite of global financial business solutions, including alternative investments via Pershing’s Alternative Investment Network.

This latest digital enhancement will streamline workflows for Pershing custody accounts via automated document uploads when advisors process subscriptions for alternative investments such as private equity, private credit, hedge funds, and real estate on behalf of their clients. It will also enable the digital transmission of Pershing private investment forms, eliminating the need for advisors to upload forms manually. These enhancements along with the e-signature and e-delivery aspects of the integrated investment process provide efficiencies that add meaningful ease to the investment process.

“We are excited to take this next step with Pershing and provide additional automation for advisors. Our clients have found the paperless, digitally enabled aspects of the iCapital offering to be an advantage in their efforts to ensure the continuity of their business during this critical time,” said Tom Fortin, Chief Operating Officer and Managing Partner of iCapital Network. “We have a shared commitment to ensure that the many advisors who custody with Pershing have the most innovative technology options at their disposal when accessing alternative investments on behalf of their clients.”

“We have a long history of making alternatives available to advisors on our platform but knew that manual steps made private investments a more difficult asset class to access,” said Robert Cirrotti, managing director, Global Strategy & Product Management at Pershing. “As advisors increasingly turn to alternative investments for diversification and uncorrelated returns, we are delighted to partner with iCapital to make the investing process faster, easier and more secure.”

The enhanced partnership with Pershing comes as advisors and clients seek alternative investments for portfolios. According to a recent survey of iCapital’s network, in light of recent market volatility, advisors are increasingly considering client allocations to private equity and hedged strategies.

About iCapital Network

iCapital Network’s mission is to power the world’s alternative investment marketplace. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers, and banks. The firm’s flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Asset managers and banks leverage iCapital Network’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was recognized in the 2018, 2019, and 2020 Forbes FinTech 50 which highlights the top 50 innovative financial technology companies that are transforming finance through technology. As of June 30, 2020, iCapital Network services more than $52 billion in client assets across 497 funds.

For additional information, please visit the Company’s website at www.icapitalnetwork.com | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Twitter: @icapitalnetwork | Facebook: https://www.facebook.com/icapitalnetwork/

Disclosures: This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Institutional Capital Network, Inc. or its affiliates (together “iCapital Network”). Past performance is not indicative of future results. Alternative investments such as those described are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund’s investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change and is also incomplete. This industry information and its importance is an opinion only and should not be relied upon as the only important information available. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. All rights reserved

¹Institutional Capital Network, Inc. and its affiliates (together, “iCapital Network” or “iCapital”)