BNY launches private markets platform for intermediaries
BNY has launched a new solution to help wealth intermediaries in the US access private market investment products from firms including Blue Owl Capital and Apollo.
Alts Bridge is a data, software and services offering that will integrate into intermediaries’ existing desktops.
The platform will provide access to a range of alternative and private market asset managers, including 26 North, AB CarVal, Alternatives by Franklin Templeton, Apollo, Atalaya, Aviva Investors, Blue Owl Capital, Carlyle, CIFC, Coller Capital, Crescent Capital, Eisler Capital, Generali, GoldenTree, Goldman Sachs, Hunter Point Capital, Invesco, KKR, Lexington Partners a Franklin Templeton Company, Lunate, Marathon Asset Management, Partners Group, Polen Capital, RCP Advisors, and Stormfield Capital.
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BNY said that while 90 per cent of advisers are targeting a 10 to 15 per cent average portfolio weighting to alternative and private market investments, actual allocations remain in the low single digits.
Global alternative assets under management are expected to reach $24.5tn (£18.6tn) in 2028, representing a forecast annualised growth rate of 8.4 per cent from 2022 to 2028, according to Preqin data.
“We consistently hear from advisors that they want to allocate more to alternatives and private markets but are limited by operational complexity and significant additional resource requirements. We’re incredibly proud to deliver the alternative investment experience that advisors and their clients expect and deserve,” said David Moss, head of Alts Bridge at BNY. “We’re addressing challenges that have persisted for decades and delivering cutting edge tools. For advisors, we are making alternatives easier. And for asset managers, Alts Bridge delivers scalable, efficient access to the growing wealth channel.”
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The platform will offer features including an adviser education and fund discovery centre, home office and asset manager tools, product overviews, automated document preparation, simplified order entry, and integrated reporting and investment management capabilities.
It is expected to be available to US registered investment advisers and independent broker-dealers in autumn 2024.
“The shifting investable landscape between public and private securities is a secular trend for our industry,” said Clint Harris, head of wealth management platforms and institutional consultant relations at Invesco.
“Invesco is excited to work with Alts Bridge to help investors navigate this landscape with an industry-leading client experience, educational resources, and investment capabilities.”
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