RBC Wealth Management, a unit of Royal Bank of Canada (RBC), has forged an alliance with iCapital Network to expand its alternative investments offering.

Under the tie-up, iCapital will provide a customised technology and service solution for the wealth manager’s clients. The aim is to help these clients easily access alternative investment options, including private equity, hedge funds, and private credit, among others.

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This firm is initially offering this solution to clients in Asia, with plans for a global roll-out in the future.

RBC Wealth Management Asia head Terence Chow said: “We are increasingly working with Asia’s global families, providing insights and advice to ensure that their investment portfolios are resilient and geared towards the long-term.”

iCapital’s platform is designed to offer end-to-end alternative investing capabilities covering digital fulfilment, administration, document management, reporting, and educational materials.

In August this year, PGIM Investments also collaborated with iCapital Network to boost its distribution and servicing capabilities.

iCapital Network chairman and CEO Lawrence Calcano said: “We are delighted that RBC Wealth Management selected iCapital to build a customised platform that will manage private market investments and ultimately hedge funds seamlessly across currencies, regulatory environments and languages.

“We share the RBC team’s commitment to providing best-in-class, easy and transparent access to alternatives and the highest level of service to clients.”

Speaking on the partnership, RBC Wealth Management International and Asia head of Investments Juan Aronna added: “Our partnership with iCapital complements our existing investment solutions and global banking capabilities, and provides clients with intuitive, digital and secure access to alternatives – a beneficial diversification tactic amid volatile markets and global events.”

In April this year, RBC Wealth Management joined the WealthiHer Network as a founding member.