UBS, Envestnet and iCapital Network® leverage technology and investment prowess to expand alternative investment offering

• Envestnet to provide access to a curated menu of alternative investments by UBS and iCapital Network through new Alternatives Exchange, leveraging iCapital’s turnkey technology solution
• By expanding access to alternative investment products through Envestnet’s ecosystem, UBS and iCapital strengthen their market positions and reach more investors

Chicago & New York, July 13, 2021 – UBS (NYSE: UBS), Envestnet (NYSE: ENV), and iCapital Network^[1] (“iCapital”) today announced a strategic relationship to deliver access to curated UBS and iCapital alternative investment products through Envestnet’s platform. To power the initiative, Envestnet will launch the Alternatives Exchange, a new solution designed to provide these products to the firm’s clients, leveraging iCapital’s turnkey technology through single-sign-on access.

“UBS has a long history of partnering with leading technology companies, like Envestnet and iCapital, to help broaden the firm’s distribution network of its products and services,” said Tom Naratil, President Americas at UBS. “This strategic relationship will enable us to scale our product offering for investors and strengthen our position in the alternative investments sector.”

To seamlessly support this effort, Envestnet | PMC, Envestnet’s portfolio consulting group, will provide oversight of the Alternatives Exchange. Envestnet’s new Private Wealth Consulting service anticipates leveraging this offering for advisors of high-net-worth clients, providing access to private investments and hedge fund strategies through UBS and iCapital.

“Through our partnership with UBS and iCapital, we continue to make significant strides in building out our financial wellness ecosystem,” said Bill Crager, Co-Founder and CEO of Envestnet. “UBS's global reach, iCapital’s demonstrated technology, and both firms’ extensive history with alternatives will be key for helping us equip advisors with the tools to help diversify client portfolios.

UBS has created a dedicated group to service this initiative, which will provide access to investment solutions and custody services. Advisors on Envestnet’s platform will continue to be the primary contact for their clients.

“We are proud to partner with UBS and Envestnet, to provide advisors with access to a broad array of quality alternative investment strategies via the Alternatives Exchange,” said Lawrence Calcano, Chairman and CEO of iCapital Network. “We are committed to continuing the transformative work iCapital is doing with our partners to help the industry meet the growing demand for alternative investments, and to provide innovative solutions that have the potential to deliver better outcomes for advisors and their clients.”

Through this collaboration, Envestnet’s platform will provide access to iCapital’s enhanced technology and processing capabilities. iCapital’s technology includes its digital subscription process for alternative investments, with Anti-Money Laundering and Know Your Client features to assist advisors through essential compliance processes. Investment-related documents and reports will be available in real-time through iCapital’s intuitive document center, digitizing a historically paper-intensive, cumbersome experience and strengthening advisor efficiency.

“As advisors seek to navigate challenges presented by a low-yield environment and better diversify traditional equity and fixed-income portfolios, we believe alternative solutions can be another option used to enhance client investment outcomes,” said Dana D’Auria, Co-Chief Investment Officer of Envestnet. “Through this collaboration, the new Alternatives Exchange will not only provide access to hedge funds, private equity, private credit, venture capital, and real estate, but will also provide the research, due diligence, and digital technologies to help invest in these strategies more efficiently—all on one platform.”

Access to the Alternatives Exchange will be made available in Q3 directly through a single sign-on integration from the Envestnet Platform.

^[1] Institutional Capital Network, Inc., and its affiliates (together, “iCapital Network” or “iCapital”)