iCapital
Advisor-gated alt-fund rails with $100,000+ feeder minimums; no direct retail signup
Rates verified October 10, 2026View platformThe Bottom Line
- Minimum investment
- $100,000 (verified Oct 10, 2026). All rates and fees
Key facts
- Reported return: Not published
- Accreditation: Required
- Liquidity: Depends on the underlying fund
Pros
- Fund shelf with diligence tooling for advisors
- Hundreds of billions in serviced platform assets
Cons
- No direct retail access; it is plumbing for advisors
- Feeder fees layer on top of underlying fund fees
- Minimums typically $100,000-$250,000, often qualified-purchaser gated
At a glance
Rates verified October 10, 2026- Minimum investment
- $100,000
- Accreditation
- Required
- Fees
- Feeder-level servicing/administration fees layered on underlying fund fees (varies by fund)
- Reported return
- n/a (conduit, not issuer)
- Liquidity
- Depends on the underlying fund; typically interval or tender-offer structures
- Founded
- 2013
Source: icapital.com, read October 10, 2026
What is iCapital?
iCapital is not a retail platform; it is the dominant distribution rail through which financial advisors reach private-markets funds, with hundreds of billions in serviced platform assets. Individuals cannot sign up directly: access runs through a financial advisor or wealth platform, with feeder-fund minimums typically $100,000-$250,000 and accreditation (often qualified purchaser status) required.
Fees are layered: feeder-level servicing and administration on top of underlying fund fees, varying by fund. There are no platform-level return figures because iCapital is a conduit, not an issuer.
Founded in 2013, it powers advisor access to BCRED, OCIC, and ADS-type funds and offers a fund shelf with diligence tooling. It is listed here so readers understand the plumbing: if your advisor offers you a private-credit feeder fund, it likely runs on iCapital or CAIS.
Key details
Alt-distribution rail for wirehouses and RIAsFund shelf with diligence tooling for advisorsPowers advisor access to BCRED/OCIC/ADS-type fundsFeeder-fund structures with lowered minimums vs direct funds
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iCapital FAQ
What is the minimum investment through iCapital?
Feeder funds typically require $100,000-$250,000, and access is only available through a financial advisor or wealth platform.
Is accreditation required for iCapital funds?
Yes, and often qualified purchaser status on top of accreditation.
What are the risks of investing through iCapital?
iCapital is a conduit, not an issuer, so the risks are those of the underlying funds plus a layered fee structure: feeder-level servicing and administration fees stack on top of underlying fund fees. There is no direct retail door; everything is advisor-mediated.
Source: icapital.com