NEW YORK,

July 31, 2018 /PRNewswire/ -- AllianceBernstein L.P. ("AB"), a leading global investment firm with

$540 billion

in assets under management, today announced an agreement with iCapital Network ("iCapital") to provide a white label platform that will enable high-net-worth (HNW) investors at Registered Investment Advisory firms and multi-family offices to access AB's alternative investments platform. iCapital technology will be used to help AB simplify access to its alternative investments, streamline the subscription processes and performance reporting, and improve the overall advisor and investor experience for AB's clients. "With today's lower expected return environment, potential for rising interest rates, inflationary pressures, and increasing volatility, it is critical for investors to maintain a well-designed allocation to alternatives that can help their portfolios weather uncertain markets," said

Matthew Bass

, Head of Global Product Strategy and Alternatives Business Development at AB. "This partnership with iCapital will allow us to better serve sophisticated investors and introduce new ways of generating alpha that were previously out of their reach." "We are honored that AllianceBernstein has selected iCapital's technology-led approach to augment its operational infrastructure for offering alternative investing opportunities to the high-net-worth segment," said Lawrence Calcano, Chief Executive Officer of iCapital Network. "We see it as yet another vote of confidence from the industry in iCapital's unparalleled technology and our mission to democratize access to alternative investments."

About AllianceBernstein's Alternatives Platform

AllianceBernstein manages approximately

$24 billion

of committed capital, including leverage, for alternative investment strategies across public and private markets including middle market direct lending, commercial real estate, energy, structured credit, multi-manager and single manager hedge fund strategies, and custom alternative solutions.

About AllianceBernstein

AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.

In

May 2017

, AXA S.A. ("AXA") announced its intention to pursue the sale of a minority stake in AXA Equitable Holdings, Inc. ("Equitable"; NYSE: EQH) through an initial public offering (the "IPO"). On

May 14, 2018

, Equitable completed the IPO and AXA owns approximately 71.9% of the outstanding common stock of Equitable. As of

June 30, 2018

, including both the general partnership and limited partnership interests in AllianceBernstein, AllianceBernstein Holding owned approximately 35.9% of AllianceBernstein and Equitable, directly and through various subsidiaries, owned an approximate 64.7% economic interest in AllianceBernstein. Additional information about AB may be found on our website, www.alliancebernstein.com.

About iCapital Network

iCapital Network is the financial technology platform democratizing alternative investments with complete tech-based solutions for investors, advisors and asset managers. The firm's flagship platform offers high-net-worth investors and independent wealth advisors a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Banks and asset managers leverage iCapital's tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was included in the 2018 Forbes FinTech 50 and as of

June 30, 2018

, serviced more than

$6 billion

in invested capital across more than 14,000 underlying accounts. For additional information, please visit the Company's website at www.icapitalnetwork.com