To kickstart the collaboration, the firms plan to further integrate Depository Trust & Clearing Corporation (DTCC)’s Alternative Investment Product (AIP) with iCapital’s alternative investment platform.
In a statement, the firms said that by connecting capabilities across transaction processing, data exchange, access, administration, and reporting, the firms aim to create a more seamless and efficient experience across the private investment lifecycle.
The firms will also explore collaborations on current and emerging technologies across the alternatives landscape that could further improve connectivity, transaction management, and efficiency across alternative investments.
“Private markets represent one of the most significant growth areas in financial services today, creating an urgent need for modern, scalable infrastructure. Our strategic partnership with iCapital reflects DTCC’s commitment to supporting the continued evolution of diverse financial markets,” said Frank La Salla, president, chief executive officer and director of DTCC.
“Broader adoption of alternative investments will depend on making the ecosystem easier to navigate, more efficient to operate, and highly resilient,” he added.
The collaboration aims to advance scalable industry solutions that streamline operations, enhance data quality and create a smoother experience for firms and investors.
“Our shared vision is a more connected ecosystem that expands access and makes alternative investments easier and more efficient to transact and manage. We will partner on technologies that support the overall goals of the relationship such as blockchain enabled DLT and tokenization where appropriate that help build a stronger foundation for the industry’s continued evolution,” said Lawrence Calcano, chairman and chief executive officer of iCapital.
“With this investment, DTCC joins a diversified group of strategic investors who share our conviction that the future of private markets will be underpinned by infrastructure that is more connected, standardized, and scalable,” Calcano added.
Institutional investors are preparing to increase private market allocations as concerns about inflation, geopolitical instability and interest rate volatility expose gaps in portfolio resilience.
IFM Investors’ 2026 Private Markets 700 report found just 21 per cent of investors believed their portfolios could perform consistently across a wide range of economic conditions, including adverse environments.
Another 9 per cent described their portfolios as vulnerable to economic shocks and lacking diversification or downside protection.