iCapital, the global fintech platform driving the alternative investment marketplace for the wealth and asset management industries, has boosted its presence in the GCC by entering a strategic partnership with MPW Capital Advisors (MPW) to amplify its growth in the Gulf Cooperation Council (GCC).
The MPW partnership will serve clients in Dubai, Abu Dhabi, Kuwait, Oman, Bahrain, Qatar, and Saudi Arabia.
Additionally, iCapital plans to open regional offices in the near future.
The Middle East & Africa (MEA) region presents significant growth potential for alternative investments, with a projected net wealth growth from $19.2 trillion in 2023 to $30.6trn in 2028, making it one of the fastest-growing regions globally.
The GCC is the strongest contributor within MEA to this significant growth. The partnership with MPW will bring alternative investing opportunities available on iCapital Marketplace to advisors and their high-net-worth clients in the Gulf region, meeting their significantly growing demand for the asset class.
Furthermore, iCapital is committed to providing on-the-ground support through MPW as advisors learn about, invest in, and manage alternatives, supporting them throughout the entire investment lifecycle.
Marco Bizzozero, head of international at iCapital said: "Today's announcement outlines another important step forward in our global growth, as we accelerate bringing iCapital’s technology and solutions to the asset and wealth management industries in the GCC region.
"The GCC is an important strategic market in our mission to make private markets more inclusive. Wealth creation is increasingly occurring in private markets, and iCapital is dedicated to meeting the growing demand of private banks and wealth managers in the region.
"With our local support through MPW, we will facilitate increased access to alternative investments, making them a key component of diversified portfolios and enhancing financial outcomes for clients."
Chukri Moubarak, Founder and CEO of MPW said: “This partnership marks an exciting new chapter for MPW and our investor base in the GCC region.
"It underscores our commitment to empowering private banks and wealth managers with unparalleled access to innovative digital technology, knowledge transfer, and a diverse range of alternative investment opportunities from leading global private markets asset managers, such as private equity and private credit firms, alongside top global hedge fund managers.
"Through our partnership with iCapital, we are ideally positioned to add momentum to the democratization of private markets and meet the rapidly growing demand within the private wealth industry in the Gulf region.”
Through MPW, iCapital will accelerate the distribution of iCapital Marketplace in the GCC region. The collaboration offers a diversified menu on iCapital, including private equity, private credit, hedge funds, real estate, and infrastructure, to GCC financial advisors at banks, family offices, and independent financial institutions.
