Unlike institutional investors, individual investors haven't been able to sell their stakes in private equity and other long-dated funds before this platform.
Lawrence Calcano, CEO of iCapital Network, says the ability to trade fund stakes can help individual investorsBlackRock-backed iCapital, an alternatives investment platform for wealthy investors, is working with Nasdaq Private Market to create a marketplace for individual investors to sell their private equity fund stakes.
Institutional investors, who long dominated strategies like venture capital, private equity real estate, and private credit, have worked with advisers to sell their fund stakes on the secondaries market. That option hasn't been available to individual investors, who may not be able to keep their capital locked up for the decade or longer that a private fund requires.
"Managers make use of illiquidity to create value, but the reality is there are times in people's lives when they have a financial change or a life change," he said."Just like institutions, they need to restructure their portfolios. We think a lot of investors struggle with this issue in embracing private equity. We think it's important to provide that institutional-like functionality in the marketplace.
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