CAIS
Advisor-only alts platform serving 7,400+ firms; institutional diligence, no retail door
Rates verified July 23, 2026View platformTracked since2026
0 reviews trackedThe Bottom Line
Minimum
See terms
Biggest pro
Institutional diligence via Mercer vetting
Biggest con
Zero direct retail access; advisor-only
At a glance
Rates verified July 23, 2026- Accreditation
- Required
- Fees
- Platform/feeder fees layered on underlying fund fees
- Target return
- n/a (conduit, not issuer)
- Liquidity
- Depends on the underlying fund
- Founded
- 2009
What is CAIS?
CAIS is iCapital's chief rival for independent advisors: founded in 2009, serving more than 7,400 advisor firms overseeing over $3T in network assets, with a Mercer-vetted fund menu. There is zero direct retail door; access is advisor-only, with accreditation required.
Minimums vary by fund, with lowered feeder minimums versus direct fund investment. Platform and feeder fees are layered on underlying fund fees.
For an individual reader the takeaway is the same as with iCapital: this is institutional diligence infrastructure your advisor may use, not a platform you can join.
Pros and cons
Pros
- Institutional diligence via Mercer vetting
- Massive advisor network: $3T+ in network assets
- Feeder structure lowers minimums versus direct fund investment
Cons
- Zero direct retail access; advisor-only
- Platform and feeder fees layer on fund fees
Key details
Mercer-vetted fund menuServes 7,400+ independent advisor firmsLowered feeder minimums versus direct fundsAlternative-investment education and diligence tooling for advisors
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CAIS FAQ
What is the minimum investment through CAIS?
Minimums vary by fund, with lowered feeder minimums compared to investing in the funds directly. Access is advisor-only.
Is accreditation required for CAIS funds?
Yes. CAIS funds are limited to accredited investors, accessed through a financial advisor.
What are the risks of investing through CAIS?
As with iCapital, CAIS is infrastructure rather than an issuer: risks belong to the underlying funds, with platform and feeder fees layered on fund fees. There is no direct retail door, so an individual cannot evaluate or access it without an advisor.
Source: caisgroup.com