iCapital Partners With Bain Capital to Provide Advisers Access to Private Credit Strategies
As the apparent appetite for private credit opportunities amongst advisers and their high-net-worth clients continues to grow, given the perceived enhanced income potential and diversification benefits, iCapital – a global fintech platform facilitating the alternative investments marketplace for the wealth management industry – announced a partnership with Bain Capital Credit LP to provide financial advisers and high-net-worth investors access to a suite of Bain Capital Credit’s private credit strategies via iCapital’s technology platform.
Bain’s private credit platform is comprised of more than $45 billion in assets under management invested across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. The platform includes Bain Capital Private Credit, a perpetual-life, non-traded business development company with approximately $275 million in total investments and an aggregate net asset value of $130.6 million, as of Feb. 29, 2024.
Through this partnership, advisers with access to iCapital gain increased operational efficiency by accessing select Bain Capital Credit products via the customized Bain Capital-branded platform powered by iCapital and on iCapital Marketplace. As part of the agreement, iCapital provides a full suite of research, due diligence, and educational materials to advisers and investors to support the growing interest in alternative investing.
“We are delighted to partner with Bain Capital Credit, a recognized leader in private credit investing, with the experience to help investors navigate this dynamic asset class,” said Lawrence Calcano, chairman and chief executive officer of iCapital. “Advisers and their clients have expressed increasing interest in adding private credit strategies to their portfolio allocations. With this partnership, we ensure proper education, better access to new products and technologies that facilitate increased exposure to private credit and alternatives more broadly.”
Bain Capital Credit’s private credit group focuses on providing complete financing solutions to businesses with earnings before interest, taxes, depreciation, and amortization between $10 million and $150 million and located in North America, Europe and Asia Pacific. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
This latest partnership follows other steps iCapital has taken this year to aid advisers in making alternative investment recommendations – i.e., launching the Architect tool to evaluate alternatives and structured investments in February 2024 and partnering with Morningstar in January.
“By partnering with iCapital and leveraging their leading technology platform, we are able to provide more efficient access to our alternative investment strategies to a larger set of investors beyond our core institutional footprint,” said Jeffrey Hawkins, deputy managing partner of Bain Capital Credit and special situations.
“Our initial product on the iCapital platform is focused on providing wealth managers and individual investors access to our longstanding middle market private credit strategies which incepts back to 1998,” added Hawkins.
iCapital is a global fintech company supporting the alternative investments marketplace. iCapital’s solutions enable organizations to streamline and scale their operational infrastructure for alternative investments and to provide access to direct investments and feeder funds at lower minimums through simplified digital workflows. iCapital services more than $180 billion in global platform assets; employs more than 1,200 people globally; and has 13 offices worldwide including New York, Greenwich, Zurich, Lisbon, London, Hong Kong, Singapore, Tokyo, and Toronto.
