Mountain View, Calif.-based Addepar announced on Monday the launch of a new “Marketplace” for alternative investments.
Marketplace is an application within the Addepar platform that will allow clients to view and assess offerings and digitally initiate transactions through a set of trusted partners. Offerings include private equity, hedge funds, secondary market liquidity solutions, shars in private companies and cash programs.
“Marketplace unifies access to financial products like alternatives and private assets, which have historically been fragmented and opaque,” said Addepar CEO Eric Poirier in released comments. “Our clients manage and advise on nearly $2T in assets on Addepar, with more than 35% held in alternatives and private assets. Marketplace further empowers them to utilize the data and technology to make investments that deliver real results.”
Addepar’s Marketplace is being offered via Acervus Securities, its subsidiary broker-dealer, and is now available to existing clients.
Poirier linked the Marketplace launch to the ongoing outbreak of Covid-19: “This global pandemic and corresponding market volatility is our catalyst to launch this valuable offering. Our clients are deanding longer-ter investments that fuel lasting solutions.”
Hedge funds and private equity offerings are to be made available through Artivest and a forthcoming partnership with iCapital Network, while Melting Point Solutions will handle secondary liquidity services. Private company securities areavailable via EquityZen and a forthcoming partnership with Zanbato. Cash management solutions will be made available via StoneCastle Cash Management.