iCapital’s ascent shows how access to private market investments and other “alternative” assets is becoming more “democratized.”

Neuberger Berman, the US investment house, has partnered with iCapitalNetwork, the financial technology platform opening access to alternative assets such as private equity. iCapital has inked a raft of deals with banks and wealth managers.

Under the latest pact, New York-based iCapital will provide a customized technology, service, advisory and distribution solution for financial advisors and their high net worth clients seeking access to the NB Crossroads Private Markets Access Fund - a fund that Neuberger Berman launched in January this year.

The Access Fund invests across private equity sponsors, industries, geographies, market capitalizations and vintage years. Its portfolio of private investments includes direct co-investments and secondary investments alongside top-tier private equity partners. As of September 1, 2021, it surpassed $300 million of assets.

"We launched the Access Fund in large part because of a long-standing belief that private equity should be accessible to a broader scope of investors," Tony Tutrone, head of Neuberger Berman Alternatives, said. "In partnering with iCapital, we're further fulfilling that goal by delivering private equity access with a user-friendly platform.”

Neuberger Berman manages $433 billion in client assets as of June 30. iCapital Network, which was founded in 2013, serviced more than $83 billion in global client assets across more than 780 funds, as of July 31. Besides its New York headquarters, it has offices in Zurich, London, Lisbon, and Hong Kong.