Fintech company iCapital today announced a strategic investment in, and partnership with, Tangible Markets, a liquidity solutions provider for private market positions held via wealth management channels.
Together, the firms will develop scalable liquidity solutions for alternative investment funds – helping wealth managers, asset managers, and institutional investors unlock value from illiquid holdings. The partnership also supports the longer-term evolution of private markets, as enhanced liquidity becomes increasingly essential to expanding participation for advisors and their clients. Tangible’s liquidity solutions are expected to be available through iCapital’s platform by the end of 2025.
“Lack of liquidity has long been a friction point for broader allocations to alternative investments. We’re proud to partner with Tangible Markets and invest in advancing the technology to redefine institutional-grade liquidity solutions,” said Lawrence Calcano, Chairman and CEO of iCapital. “By building a robust secondary market, we offer clients greater transparency and the flexibility to efficiently rebalance portfolios without waiting for a natural liquidity event – enabling strategic allocation adjustments while maintaining exposure to long-term, value-generating assets.”
This partnership introduces a range of liquidity solutions for alternative investment funds, and access to Tangible Markets solutions will be facilitated through iCapital’s platform. The result is a seamless, transparent experience that connects a robust buyer-seller network, enhances price discovery, and streamlines transaction execution – making alternative investments more accessible and dynamic.
The liquidity solution creates digital experiences for managing liquidity across a broad range of strategies, including private equity, private credit, real assets, and hedge funds. Through regular auctions, advisors and qualified investors can efficiently rebalance portfolios, access liquidity when needed, and adjust exposure to alternative investment funds.
Mr. Calcano added, “With this next step, iCapital is extending its end-to-end platform to include liquidity solutions across private market fund strategies, registered funds, and credit offerings. By connecting seamlessly to the broader iCapital ecosystem, we give our clients the tools to effectively manage alternatives with the flexibility and transparency they expect. It’s an important milestone as periodic liquidity becomes key to building confidence in alternatives as a core portfolio component.”
This partnership will reduce friction in secondary transactions and accelerate time-to-liquidity for advisors and clients. Sellers benefit from curated auctions, real-time pricing insights, and portfolio analytics that help unlock value from traditionally illiquid assets across both closed-ended and semi-liquid funds. For buyers, the platform offers access to high-quality alternative investments and a frictionless closing process, supporting faster deployment and more diversified portfolios.
Terms of the agreement were not disclosed.
