TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
September 18, 2024
Source: PR Newswire
Through Alts Bridge, BNY will deliver to wealth intermediaries, advisors, and investors a complete and integrated set of solutions across the alternative investment lifecycle
NEW YORK, Sept. 16, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), a global financial services company, has today announced Alts BridgeSM ("Alts Bridge"), a comprehensive data, software, and services solution built to meet the growing demand from wealth intermediaries looking to access alternative and private market investment products, through a simplified end-to-end investment experience.
Designed to deeply integrate into intermediaries' existing desktops, beginning with BNY Pershing X's Wove advisory platform and NetX360+, with cutting-edge AI and analytics tools that are designed to reduce manual processing and error rates, Alts Bridge creates a powerful solution for investors, advisors, and the home office. The platform will provide access to a curated, comprehensive suite of leading alternative and private market asset managers from around the world, a selection including 26 North, AB CarVal, Alternatives by Franklin Templeton, Apollo, Atalaya, Aviva Investors, Blue Owl Capital, Carlyle, CIFC, Coller Capital, Crescent Capital, Eisler Capital, Generali, GoldenTree, Goldman Sachs, Hunter Point Capital, Invesco, KKR, Lexington Partners a Franklin Templeton Company, Lunate, Marathon Asset Management, Partners Group, Polen Capital, RCP Advisors, and Stormfield Capital.
"Powered by BNY's data and technology, Alts Bridge will connect clients across the wealth ecosystem and alternative markets in a unique and more seamless way. As a firm that supports more than $2.6 trillion of wealth assets[1] and has relationships with more than 500 leading alternative managers, we believe we are uniquely positioned to unlock this market," said Akash Shah, Chief Growth Officer and Head of Growth Ventures at BNY. "We're combining the breadth and depth of BNY's distribution team with our expertise across investment management, advisory, securities services, wealth technology, and wealth custody and clearing, enabling Alts Bridge to provide a comprehensive solution to find, access, and custody alternative and private market assets."
The platform will offer features across the pre-, at- and post-trade processes, including an advisor education and fund discovery center, home office and asset manager tools, product overviews, automated document preparation, simplified order entry, and integrated reporting and investment management capabilities.
"We consistently hear from advisors that they want to allocate more to alternatives and private markets but are limited by operational complexity and significant additional resource requirements. We're incredibly proud to deliver the alternative investment experience that advisors and their clients expect and deserve," said David Moss, Head of Alts Bridge at BNY. "We're addressing challenges that have persisted for decades and delivering cutting edge tools. For advisors, we are making alternatives easier. And for asset managers, Alts Bridge delivers scalable, efficient access to the growing wealth channel."
While 90% of advisors are targeting a 10-15% average portfolio weighting to alternative and private market investments, actual allocations remain in the low single digits. Global alternative assets under management are expected to reach $24.5trn in 2028, representing a forecast annualized growth rate of 8.4% from 2022 to 2028.[2]
"Having been at the forefront of developing private markets products for the wealth space, we welcome this initiative to simplify access for investors while ensuring they have the resources, they need to make informed, long-term investment decisions," said Robert Collins, Global Co-Head of Private Wealth at Partners Group.
"The shifting investable landscape between public and private securities is a secular trend for our industry. Invesco is excited to work with Alts Bridge to help investors navigate this landscape with an industry-leading client experience, educational resources, and investment capabilities," said Clint Harris, Head of Wealth Management Platforms and Institutional Consultant Relations at Invesco.
The platform is expected to be available to U.S. Registered Investment Advisors (RIAs) and Independent Broker-Dealers (IBDs) in fall 2024. The initial platform will be available to clients of BNY Pershing. To learn more, please visit: https://www.bnymellon.com/us/en/solutions/wealth-technology/alts-bridge-alternative-investment-software.html
1 |
BNY Pershing AUC/A as of June 30, 2024 |
2 |
Preqin (2023) Future of Alternatives 2028 –Source |
Media
Anneliese Diedrichs
anneliese.diedrichs@bny.com
Courtney Woolston
courtney.woolston@bny.com
About BNY
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of June 30, 2024, BNY oversees $49.5 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY employs over 50,000 people globally and has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.
This Press Release is issued by BNY to members of the press and media and the information contained herein should not be construed as investment advice or a recommendation of any investment strategy or product. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized.