CAIS, an alternative investment platform for independent financial advisors, has added alternative asset manager behemoth Blackstone to its marketplace.
“We are committed to providing independent advisors with access to the leading alternative investment strategies from the top alternative asset managers in the industry,” CAIS founder and CEO Matt Brown said in a statement. “As advisor demand for alternative investments accelerates, we are excited to welcome Blackstone, a firm that shares our vision in delivering quality education and strategies to financial advisors everywhere.”
CAIS will list several Blackstone strategies, which have undergone third-party due diligence by Mercer. The strategies include private equity, private credit and real estate products catered to the wealth channel.
Previously, Blackstone’s strategies were only accessible to a limited number of advisors using the CAIS platform. Now, Blackstone products are available to the more than 32,000 advisors using CAIS.
“We are pleased to collaborate with CAIS to introduce a number of Blackstone’s strategies to their broad network of independent advisors,” Todd Myers, senior managing director and chief operating officer of private wealth solutions at Blackstone, said in a statement. “The growing number of advisors using private markets as a core portfolio allocation need just the type of deep commitment Blackstone and CAIS are making.”
Blackstone was an early mover among alternative asset managers targeting the wealth channel. Its Blackstone Private Credit Fund, a business development company, and Blackstone REIT, its unlisted REIT, have both been popular options among financial advisors exploring alternatives.
CAIS is among a growing number of online marketplaces and fintechs servicing the alts segment. In 2022, it reached unicorn status with a $1 billion valuation.
