iCapital to Add Marketplace for Trading Private Fund Stakes

iCapital is adding a marketplace to its platform that will let investors buy and sell stakes in private funds, tapping into growing demand for early exits from illiquid bets.

Through an investment in financial technology firm Tangible Markets, iCapital plans to let customers trade private equity, credit and hedge fund stakes by year-end, according to an emailed statement.

As a sluggish market for mergers and acquisitions keeps a lid on dealmaking, investors and fund managers are seeking alternatives to unlock cash. That demand has fueled a surge in so-called secondaries, with money managers raising record sums to scoop up ...