Latest news with #privateMarkets
Bloomberg
08-07-2025
- Business
- Bloomberg
KKR Strikes Asset-Management Partnership with Brazil's Itau
By KKR & Co. and Itau Unibanco Holding SA 's asset manager struck an exclusive partnership to develop alternative investments for institutional and wealth clients in Brazil. The buyout firm and Sao Paulo-based Itau Asset Management will develop products across private markets asset classes, including building co-branded investments for the Brazilian market, according to a statement Tuesday. The firms said they also may work together on co-investments.
Yahoo
02-07-2025
- Business
- Yahoo
Advisors Scrutinize Bill to Ease Rules for Accredited Investors
Being an accredited investor just isn't what it used to be. A bill designed to loosen the definition of an accredited investor, one who's eligible to invest in certain private placements, is heading to the Senate after it passed the House of Representatives in resounding fashion last week. Advocates say the proposal would democratize private markets — like private equity, venture capital, hedge funds and real estate — which have long been reserved for the wealthiest investors. The bill would ask the Securities and Exchange Commission to reevaluate the current definition and potentially provide a new one. It's yet another example of the industry opening up alternative products to Main Street investors. 'While this may be a step in the right direction for the asset managers, it remains to be seen if it is a step in the right direction for the new pool of potential buyers,' said Martin Gross, president of Sandalwood Securities. READ ALSO: 3 Financial Planning Urban Legends and Will Client Testimonials Catch On With Advisors? While the Fair Investment Opportunities for Professional Experts Act passed by a 397-12 vote in the House, it still has its detractors in the wealth management industry at large. Some financial advisors feel private offerings aren't necessarily the best idea for your average investing Joe. 'If there is no alignment of interests, clients should not invest,' Gross said. 'This is one area where understanding best practices around due diligence is essential.' Most notably, the bill would open up the designation to holders of certain licenses, education, or job experience, like brokers and financial advisors. Proponents say a new definition would welcome financially savvy investors who don't meet the traditional income thresholds. According to the current criteria includes: Investors must earn at least $200,000 (or $300,000 for married couples) in each of the prior two years. Or, they are required to have a net worth over $1 million, alone or together with a spouse. Anyone who holds a Series 7, 65 or 82 license. Advisors will also need to pay attention to the liquidity needs of their clients, the exposures they have in other asset classes, and risk tolerances, Gross said, adding that alternative investments come with levels of complexity and due diligence not required in public markets subject to the Investment Company Act of 1940, a law that protects investors by reducing conflicts of interest and improving transparency. Like it or not, current accredited investor rules exist for a reason, he said. Keeping it Accredited. Private markets are 'inherently complex and opaque,' and any new definition must focus on giving investors and investment managers the education and tools necessary to assess the risks, John Bowman, CEO of the CAIA Association, said in an email. Still, expanding the accredited-investor definition is long overdue. 'Sophistication is not solely a function of wealth and is a positive step toward democratizing access to private markets,' he said. We're still waiting on Congress to democratize access to vacation homes on the French Riviera. This post first appeared on The Daily Upside. To receive financial advisor news, market insights, and practice management essentials, subscribe to our free Advisor Upside newsletter.
Yahoo
26-06-2025
- Business
- Yahoo
US House Passes Accredited Investor Bill
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. A bill changing the accredited investor definition has cleared one congressional hurdle, paving the way for expanded investor access into the private markets. On Monday, the House of Representatives passed the 'Fair Investment Opportunities for Professional Experts Act,' sponsored by Financial Services Committee Chairman French Hill (R-Ark.). The bill passed in an overwhelming 397-12 vote. Hill originally introduced the bill in 2023 and 2024, during prior sessions of Congress when Republicans did not hold both houses (or the White House). During a FINRA conference this spring, Hill said there was a 'bipartisan consensus for broadening who is an accredited investor' and what opportunities should be available to non-institutional clients. Unlike retail investors, accredited investors can access private markets, including hedge funds and private equity funds. Institutional investors are allowed in the space, but currently, retail investors must hit wealth thresholds to qualify (at least $200,000 in annual income or more than $1 million in net worth). Hill's bill hopes to change that by expanding the accredited investor definition in the 1933 Securities Act to include individuals with 'certain licenses, education or job experience' beyond wealth and income thresholds. While threshold supporters claim it protects middle-class investors from risky private markets, its critics argue the rule means retail investors have missed out on a drastic expansion of private markets. Hill's bill was one of two launched in the GOP-controlled House of Representatives. U.S. Rep. Mike Lawler (R-N.Y.) co-sponsored legislation directing the SEC to create a test (administered by FINRA) that retail investors could take to qualify as accredited investors. That bill cleared the Financial Services Committee and is on the congressional calendar (though this doesn't mean a vote on it is assured). Banrion Capital Management CEO Shana Orzyk Sissel didn't expect much immediate impact if the bill passes the Senate and is signed into law by President Donald Trump, as the more the accredited investor definition is expanded, 'the less it means anything.' 'The definition of accredited investor keeps moving, and many asset managers and advisors are confused about exactly who qualifies, so that will be another learning curve as well if this passes,' she said. Sissel expected that many asset managers would stick with non-registered products due to the cost of creating new funds specifically for accredited investors who couldn't meet the minimum requirements placed on those products (even if the wealth threshold changes for the definition). 'Some advisors could create feeder funds for their accredited investor clients that then feed into alts products, but that can come with significant expense,' she said. In the 2010 Dodd-Frank Act, Congress asked the SEC to examine the threshold's applicability consistently (and whether the annual income and net worth thresholds established in 1982 still make sense today). The commission voted to expand the definition in 2020 to allow individuals to qualify if they had certain professional designations or credentials (and also qualified SEC- and state-registered advisors). However, the monetary thresholds remained unchanged, although new SEC Chair Paul Atkins has previously emphasized the importance of expanding investor access to private markets. Sissel stressed that even if the bill passes, advisors should tread carefully, as their fiduciary duties still apply, and understand how to build portfolios, including alts, that make sense for clients' risk tolerance. 'Many alts aren't complicated, but depending on their structures, liquidity constraints and other risks need to be communicated appropriately so investors have a clear set of expectations,' she said. 'There are some (asset) managers with very good marketing teams, but have bad products out there, so sifting through all the noise is important.'
Finextra
18-06-2025
- Business
- Finextra
Juniper Square completes $130 million Series D
Juniper Square, the pioneer of connected fund software and services for private markets, today announced it closed its Series D round and secured $130 million in new funding led by Ribbit Capital, with significant strategic investment from Fifth Wall, and additional participation from Redpoint Ventures, HighSage Ventures, Blue Owl Capital and others. 0 Juniper Square will use the capital to accelerate investment in JunieAI—the first enterprise-grade AI built specifically for the needs of private markets GPs. JunieAI combines the power of modern large language models (LLMs) with critical enabling components—Juniper Square's fund system of record for GPs and LPs, a scaled data model, comprehensive workflows coupled with managed services, industry integrations, and robust measures for security, control, and permissioning—to help GPs move faster, work smarter, and operate more efficiently. Juniper Square announces $130 million Series D financing round and the launch of JunieAI As an agentic AI platform, JunieAI provides: Agents supporting the work of investor relations, fund administration, portfolio management, and investment decisions Model-agnostic orchestration across agents, tools, workflows, and systems Precision tools for the accuracy demands of accounting and reporting, fused with the ease of use and power of generative AI Secure, enterprise-grade permissioning and control Deep domain expertise in private markets AI workflows wrapped with full service solutions Unified structured and unstructured data—including from emails and documents Seamless integration with existing GP tools Fine-grained agent governance, empowering GPs to define how AI agents behave, respond, and defer across use cases "The private markets are undergoing a once-in-a-generation transformation driven by two tsunamis of change: the rise of the retail investor and the breakthrough potential of AI," says Alex Robinson, CEO and Co-Founder at Juniper Square. "Our mission is to equip GPs with the technology and services they need to thrive in this new era. With JunieAI, we're helping our customers stay ahead—turning disruption into opportunity across every facet of work inside of the modern GP." "Juniper Square is uniquely positioned to lead the private markets into the AI era," says Nick Shalek, General Partner at Ribbit Capital. "Few companies have the combination of enterprise-grade trust, enabling infrastructure, deep domain expertise, and structured data at scale that Juniper Square brings to bear. With JunieAI, they're harnessing these strengths to build AI solutions that are purpose-built for private markets—not just bolted on. We're thrilled to support Juniper Square as it sets the standard for how this industry will evolve." This fundraise follows a period of rapid growth for Juniper Square including >100% 3-year CAGR in its fund administration business, which today manages over 2,000 fund entities globally across an extensive range of strategies and complex fund structures. Growth has been especially strong in the private equity and venture capital verticals, which now represent four of the five largest customers by revenue. In May, Juniper Square expanded into Luxembourg, unlocking integrated fund administration and efficient cross-border operations for private markets GPs at a global scale. "Juniper Square stands out as a frontrunner to lead the private markets as the world moves toward an AI-driven future," says Jay Maher, Global Chief Operating Officer at H.I.G. Capital. "Juniper Square's focus on AI innovation will deliver transformative benefits across the industry—empowering organizations to better serve investors and drive long-term growth." Over the past decade, Juniper Square has built the connected infrastructure that powers private markets, helping make the industry more efficient, transparent, and accessible. With retail investors reshaping the landscape and the market on track to exceed $60 trillion within a decade, GPs need innovations like JunieAI to keep pace and capture new opportunities.
National Post
12-06-2025
- Business
- National Post
DiligentIQ Announces Name Change to ToltIQ
Article content NEW YORK — DiligentIQ, the leading provider of AI-powered due diligence solutions for private markets, today announced it is changing its name to ToltIQ, effective immediately. The new name reflects the company's strategic positioning within the private markets due diligence landscape and distinctively captures what sets the company apart: the ability to rapidly surface insight from thousands of complex documents with extraordinary speed, stability, and ease. In an industry where time is everything, ToltIQ delivers a smoother, smarter, and more confident path from due diligence to decision-making. Article content 'The name ToltIQ was inspired by a moment during my time at KKR,' said Ed Brandman, Founder and CEO of ToltIQ. 'In an annual review, my boss shared how Icelandic horses have an additional gait, the tölt. It's smooth, fast, and efficient, with the rider barely feeling the effort. It allows Icelandic horses to navigate complex terrain. KKR was an intense firm to work at, as well as being very rewarding. The firm took on complex challenges that were often unique in the industry. My boss was asking me to find that 'extra gait', that fifth gear. Fortunately, I was able to accept that challenge and we remain good friends to this day. ToltIQ embodies this by helping investment teams move at extraordinary speed with clarity and grace.' Article content While adopting the ToltIQ name, the company is maintaining its iconic 'IQ' logo and overall visual identity. The corporate website, LinkedIn page and team email addresses will also reflect the new ToltIQ identity. The company anticipates completing the name change process in stages over the next two weeks to minimize any potential disruptions. The name change will not affect existing client access to the platform, and all client emails and access points will be automatically redirected with no action required from current users. Article content ToltIQ focuses on collaborative workflows common on deal teams during diligence activities. Leveraging frontier models from OpenAI and Anthropic, ToltIQ enables investment teams to digest complex information and identify opportunities and risks with greater speed and accuracy compared to traditional methods. In benchmark testing initiated by clients, firms found 35% to 85% productivity gains, with certain diligence activities reduced from hours to minutes and multi-week projects completed in days. Article content Want to see how ToltIQ can streamline your due diligence process? Schedule a demo at to discover how our platform transforms your workflow. Article content About ToltIQ Article content ToltIQ is the leading provider of AI-powered private market due diligence solutions for GPs, LPs, diligence advisory firms and Family Offices. By combining advanced artificial intelligence with deep private markets expertise, ToltIQ helps investment professionals conduct more thorough, efficient, and accurate due diligence. The company's platform securely ingests deal documents typically found in virtual data rooms while rapidly analyzing and categorizing them to extract critical insights. By delivering clear, actionable intelligence and reducing the need for manual workflows, ToltIQ enables investment teams to focus on what drives deal value – from growth opportunities and early detection of risks to operational improvements. ToltIQ was founded by Ed Brandman, former Partner, Chief Information Officer and Head of Credit Operations at global investment firm Kohlberg Kravis Roberts & Co. (KKR). Article content Article content Article content
