According to Global Custodian, the agreement makes Icapital the exclusive services provider for the feeder funds of Morgan Stanley’s wealth management alternative investments group.

Long list of partners

Icapital Network (or ’iCapital’ as the firm … eh, capitalises itself) is described as a rapidly growing fintech platform – having won contracts to run outsourced technology functions for banks including Bank of America, Credit Suisse and Deutsche Bank. Its list of strategic sponsors features JP Morgan, BNY Mellon, Blackrock and others.

The agreement will grow the amount of assets serviced by Icapital from $28 billion to $40 billion.