iCapital Advisors provides investment advice to private investment funds, most of which invest in underlying investment funds managed by third parties. iCapital may delegate investment management to sub-advisers. iCapital does not provide individualized investment advice to investors in the funds. iCapital Markets LLC, an affiliate, acts as a broker-dealer for the distribution of alternative investments.
Fee Structure
iCapital charges each fund a management fee, typically ranging from 0.10% to 1.25% per year. The fee is calculated based on either the net asset value of the investor's interest in the fund (for open-end funds) or the investor's capital commitment to the fund (for closed-end funds). The specific rate and calculation method may vary based on the class of interests held by investors or different minimum investment thresholds. iCapital may share a portion of the management fee with iCapital Markets or a sub-adviser.