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DTCC and iCapital collaborate together
28 September 2026 UK, US
Image: Muhammad Umar/stock.adobe.com
The Depository Trust & Clearing Corporation (DTCC) and iCapital have entered into a collaboration aimed at improving infrastructure across the private markets investment lifecycle.
The partnership will combine DTCC’s market infrastructure and processing capabilities with iCapital’s technology platform and investment workflows, with a focus on connecting data, operations, and market participants.
The firms say the collaboration will seek to reduce operational friction and support wealth advisers and asset managers participating in private markets.
DTCC has also made an investment in iCapital as part of the agreement.
An initial focus of the collaboration will be the further integration of DTCC’s Alternative Investment Product (AIP) with iCapital’s alternative investment platform.
Frank La Salla, president, CEO and director of DTCC, says: “Private markets represent one of the most significant growth areas in financial services today, creating an urgent need for modern, scalable infrastructure.
“Broader adoption of alternative investments will depend on making the ecosystem easier to navigate, more efficient to operate, and highly resilient.”
Lawrence Calcano, chairman and CEO of iCapital, adds: “Our shared vision is a more connected ecosystem that expands access and makes alternative investments easier and more efficient to transact and manage.
“We will partner on technologies that support the overall goals of the relationship such as blockchain enabled DLT and tokenisation where appropriate that help build a stronger foundation for the industry’s continued evolution.”
As part of DTCC’s investment, Talia Klein, head of Wealth and Investment Solutions at DTCC, will become an observer on iCapital’s board of directors.
Klein adds: “Private markets have traditionally lacked the operational standards that exist in public markets. With this collaboration, we look forward to working alongside the iCapital team to improve connectivity, streamline processes, and support continued growth responsibly.”
The partnership will combine DTCC’s market infrastructure and processing capabilities with iCapital’s technology platform and investment workflows, with a focus on connecting data, operations, and market participants.
The firms say the collaboration will seek to reduce operational friction and support wealth advisers and asset managers participating in private markets.
DTCC has also made an investment in iCapital as part of the agreement.
An initial focus of the collaboration will be the further integration of DTCC’s Alternative Investment Product (AIP) with iCapital’s alternative investment platform.
Frank La Salla, president, CEO and director of DTCC, says: “Private markets represent one of the most significant growth areas in financial services today, creating an urgent need for modern, scalable infrastructure.
“Broader adoption of alternative investments will depend on making the ecosystem easier to navigate, more efficient to operate, and highly resilient.”
Lawrence Calcano, chairman and CEO of iCapital, adds: “Our shared vision is a more connected ecosystem that expands access and makes alternative investments easier and more efficient to transact and manage.
“We will partner on technologies that support the overall goals of the relationship such as blockchain enabled DLT and tokenisation where appropriate that help build a stronger foundation for the industry’s continued evolution.”
As part of DTCC’s investment, Talia Klein, head of Wealth and Investment Solutions at DTCC, will become an observer on iCapital’s board of directors.
Klein adds: “Private markets have traditionally lacked the operational standards that exist in public markets. With this collaboration, we look forward to working alongside the iCapital team to improve connectivity, streamline processes, and support continued growth responsibly.”
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