iCapital®, the global fintech platform driving access to alternative investments for the wealth management industry, has partnered with IQ-EQ to establish a new series of French domiciled funds, which will increase access for individual investors resident in France to global alternative investment opportunities via wealth managers and banks as well as through French unit-linked life insurance policies.
France is one of the largest wealth markets in Europe at $15.7 trillion, however, only a small fraction of this is invested in private markets. French domiciled funds are necessary to facilitate greater access to alternative investments, for which there continues to be strong demand. According to France Invest, a record €4.8 billion was invested by individual investors and family offices in private equity in France in 2022.
To capture this opportunity, iCapital appointed IQ-EQ’s Paris-based team to provide a full suite of fund administration services and to act as third-party alternative investment fund manager (AIFM) for iCapital funds that will be launched through the partnership and made available on iCapital Marketplace.
The new French domiciled funds will leverage iCapital’s cutting-edge technology, which provides seamless servicing at scale including the management of complex subscription models, investor onboarding, capital calls and client reporting. Through iCapital’s fully digitalised end-to-end technology platform, wealth managers and banks in France will have the opportunity to access a range of alternative investment funds available on iCapital Marketplace, in French domiciled vehicles. The investment platform also benefits from IQ-EQ’s extensive global fund administration expertise as well as our strong track record in helping global fund managers access French investors via its hosted AIFM platform in France.
“We believe that our new French domiciled funds solutions will be a game changer for asset managers looking to distribute alternative investment funds via the wealth management and insurance channels in France. It will also significantly increase the range of high quality alternative investment opportunities available to banks, wealth managers, and their private clients in France,” said Marco Bizzozero, Head of International at iCapital. “France is a key market for iCapital and we are excited to have the support of IQ-EQ, a world leader in fund services, to provide investors with greater and efficient access to private markets worldwide through French domiciled fund structures.”
Bertrand D’Anselme, CEO of IQ-EQ France, added: “We’re delighted to partner with iCapital in this ambitious new project and look forward to working very closely with the iCapital team in bringing these new funds to the French market. As one of Europe’s largest and most dynamic alternative investment markets, France is a priority growth jurisdiction for IQ-EQ. We are thrilled to align ourselves with another world-class player as we continue offering one of the most complete range of services to both asset managers and distributors in France.”