DTCC Makes a Strategic Investment in iCapital to Modernize Private Markets Infrastructure

MakeCryippreferred on

• DTCC is making a strategic investment in iCapital, with the two companies collaborating to modernize private markets infrastructure, according to a release published at 11:58 UTC on September 28, 2026
• The collaboration combines DTCC’s post-trade processing network with iCapital’s technology platform and investment workflows
• The goal is to reduce operational friction, improve data quality, and create more automated workflows across alternative investments for wealth advisors and asset managers

DTCC and iCapital announced a strategic collaboration in a release published in iCapital’s newsroom at 11:58 UTC on September 28, 2026, under which DTCC is making a strategic investment in iCapital. The companies did not disclose the size of the investment.

The collaboration combines DTCC’s post-trade processing capabilities and network with iCapital’s technology platform and investment workflows, with the stated goal of streamlining the private investment lifecycle for the wealth advisors and asset managers that rely on both firms’ infrastructure separately today.

“Private markets represent one of the most significant growth areas in financial services today, creating an urgent need for modern, scalable infrastructure,” DTCC chief executive Frank La Salla said in the release, framing the investment as a response to growing demand for private-market access among wealth clients that has outpaced the operational infrastructure supporting it.

The companies said the partnership is intended to reduce operational friction, enhance data quality, and create more automated workflows across alternative investments, outcomes aimed specifically at making private markets more accessible and scalable for wealth advisors who have historically faced heavier manual processing burdens with private-fund investments than with public securities.

DTCC operates as the primary post-trade infrastructure provider for much of the US securities market, while iCapital has built a technology platform specifically focused on connecting wealth managers and their clients to alternative investment funds. Pairing DTCC’s settlement and processing scale with iCapital’s existing distribution relationships positions the collaboration as an infrastructure play aimed at an alternative-investments market that both companies expect to keep growing.

Private markets have historically remained largely inaccessible to individual wealth clients because of the manual, paperwork-heavy processes involved in subscribing to and servicing private fund investments, and infrastructure partnerships of this kind are increasingly framed by both traditional financial institutions and technology platforms as a necessary step toward making those markets scalable for a much broader base of investors.

Post-trade infrastructure providers like DTCC have generally been slower than newer financial technology platforms to build products aimed specifically at private markets, and partnerships that combine an established settlement network with a purpose-built technology layer are increasingly seen as a faster path to scale than either type of organization building comparable capabilities entirely on its own.