In an effort to expand access to alternative investment strategies among the mass affluent, iCapital Network is joining forces with private equity powerhouse KKR.
The partnership, which was announced Wednesday, involves offering a rebranded $430 million private investment fund through the iCapital platform to accredited investors for a $25,000 minimum investment.
The fund, originally launched in 2015 as the Altegris KKR Commitments Market Fund, is already invested in 400 underlying private companies, 88% of which come through KKR sourced funds and deals.
The KKR brand is expected to help boost appeal of the strategy, which has produced 8.7% annualized performance net of fees since inception with less than 45% of the volatility of the public equity markets, according to Doug Krupa, co-head of KKR’s private wealth partners group.
The fund, which is technically a closed-end fund, is being managed by iCapital RF Adviser, a registered investment adviser and subsidiary of iCapital. The adviser is also less than 25% owned by KKR.
“This is the first time a private equity sponsor owns a piece of a democratized fund,” Krupa said.
Further leveraging the KKR brand, the fund is designed to invest and make capital commitments of at least 80% of its assets to private equity investments of any type sponsored or advised by KKR.
Lawrence Calcano, chairman and chief executive of iCapital, said the appeal for financial advisers is the ability to give clients access to KKR-caliber private investments.
“What is good for iCapital is derived from what is good for investors,” he said, citing the 13 million American households that would qualify based on net worth as eligible to access the fund.
“Democratized access is the mission we’re pursuing,” Calcano added.
The fund charges a 1.25% management fee and offers quarterly liquidity equal to 5% of the fund’s total assets, meaning it is not designed for short-term investors.
“The iCapital RF Adviser team has a deep understanding of the drivers of long-term performance in private equity and iCapital’s familiarity with the needs and preferences of the financial advisers and high-net-worth investors positions them to deliver a diversified fund with exposure across KKR’s global investment strategies,” Krupa said.
A 5-4 ruling preserves the Federal Reserve's independence for now, but the legal fight over presidential removal power is far from settled.
For years, large firms have been facing penalties and questions from regulators over interest rates for clients’ cash accounts.
Market volatility can be stressful, but it also represents opportunity for advisors and their clients.
After years of mixed signals and shifting timelines from Jamie Dimon, Wall Street sources suggest the race to lead JPMorgan Chase has entered its decisive stretch.
Advisors and broker-dealers adjusting to the March 2026 threshold change face bigger challenges around back-end monitoring than the new dollar limit itself.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
