iCapital, a financial technology business focused on alternative investing for the asset and wealth management industries, is expanding the investment mandate of the iCapital KKR Private Markets Fund to include sourcing direct investments from two additional private equity managers, Vista Equity Partners and Warburg Pincus.
The fund provides investors with access to direct investments via co-investment opportunities through or alongside private equity funds sponsored or managed by each of these managers. In addition, KKR, Vista and Warburg will make significant subscriptions in the fund alongside existing shareholders. The combination of the three firms looks to deliver global exposure across buyout and growth equity investment styles. It is expected that the name of the fund will change from iCapital KKR Private Markets Fund to iDirect Private Markets Fund.
“iCapital’s mission is to provide seamless access to private fund managers and, just as we have been doing in the qualified purchaser market for almost 10 years, we are bringing high quality managers to the accredited investor market with low investment minimums,” says Lawrence Calcano, chairman and chief executive officer of iCapital.