Trillion-dollar asset manager will integrate iCapital Network technology to power seamless alts experience for HNW advisor channel
PGIM Investments, the retail distribution arm of PGIM, Inc., the $1.4 trillion global investment management business of Prudential Financial, Inc. (PFI), and iCapital Network1, the leading financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, announced a partnership in which iCapital will provide a customized technology solution to augment PGIM Investments’ distribution and servicing capabilities. The partnership will support financial advisors and their high-net-worth clients, allowing them to more easily access PGIM’s real estate, private credit and other private alternative investment solutions.
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Designed to overcome many of the long-standing challenges of investing in alternatives, iCapital’s technology will provide a seamless end-to-end alternative investing capability that includes automated subscriptions, administration, document management and reporting. The new partnership with PGIM Investments will streamline distribution and access, ease operational burdens, and improve the user experience, empowering the advisor community to provide the highest level of service to their clients.
“PGIM has a long history of managing alternative asset classes which have traditionally been offered to the firm’s institutional clients,” said Stuart Parker, President and CEO of PGIM Investments. “We are excited to utilize iCapital’s intuitive technology platform to provide PGIM’s institutional-quality alternative investment solutions to our retail clients.”
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PGIM is the third-largest2 alternatives manager globally, with approximately $235 billion in AUM3 across private real estate debt and equity, private credit, hedge fund and infrastructure products. PGIM Investments provides financial advisors with a range of investment solutions through its unique multi-manager structure, which features highly specialized independent asset management experts with deep category expertise singularly focused on delivering investment returns for clients.
“Supporting the high-net-worth advisory space with innovative technology has been the enduring priority for iCapital since we started the business, and our fully digital offering has proven to offer a distinct advantage as advisors execute remote business operations,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital Network. “We see this relationship as further testament to our efforts to equip the asset and wealth management industries with an industry-wide solution, and we are truly honored that PGIM Investments has chosen to work with us.”
