Prospect Capital Management L.P. (“Prospect”, “our”, or “we”) announced today a strategic partnership with iCapital, the global fintech platform driving access to alternative investments for the asset and wealth management industries. This partnership allows financial advisors to access Prospect’s institutional quality CEF and BDC opportunities managed by Prospect and its affiliates, and now available on iCapital Marketplace.
Founded in 1988, Prospect is an experienced SEC-registered investment adviser and asset management firm with a 36-year history of providing consistent returns and $12 billion in AUM1, specializing in middle-market direct lending, real estate private equity and credit, structured credit, and middle-market buyouts.
“Prospect Capital Management is proud to work with iCapital, a leading global fintech platform powering the alternative investment marketplace,” said John Barry, CEO of Prospect Capital Management. “We expect this strategic partnership to greatly benefit our growing private wealth network with expanded access to seamlessly invest in our private market products and strategies that provide enhanced diversification and long-term wealth-building value for their clients.”
As part of this strategic collaboration, Prospect also continues its dedication to educating industry professionals on niche structured credit strategies through bespoke educational modules, intended to further enhance the investment expertise of financial advisors and wealth managers.
Through iCapital’s secure platform, financial advisors can now access Prospect’s diverse portfolio of funds through iCapital’s intuitive and user-friendly platform. iCapital’s robust technology simplifies the investment process, providing efficient end-to-end administration, reporting, and compliance services that enable investors to redirect more focus on achieving their investment goals for their clients.
About Prospect Capital Management L.P.
Prospect is an SEC-registered investment adviser headquartered in New York City that, along with its predecessors and affiliates, has more than 30-years of investing in and managing high-yielding debt and equity investments using both private partnerships and publicly traded closed-end structures. Prospect and its affiliates employ a team of over 100 professionals who focus on credit-oriented investments yielding attractive current income. Prospect, together with its affiliates, has $8.9 billion of regulatory assets under management as of June 30, 2024. For more information, call (212) 448-0702 or visit https://www.prospectcap.com.
1 The $12.0 billion of Assets Under Management (“AUM”) refers to the assets managed by Prospect and its affiliated registered investment advisors. AUM equals the sum of: (i) the gross assets of Prospect Capital Corporation, Priority Income Fund, Inc., and Prospect Floating Rate and Alternative Income Fund, Inc., (ii) any amounts available to be borrowed under certain credit facilities of the investment companies, (iii) total managed assets for real estate and structured credit investments, and (iv) uncalled capital commitments. Prospect’s AUM measure includes assets under management for which Prospect charges either nominal or zero fees. Prospect’s definition of AUM is not based on any definition of assets under management contained in any management agreements of the investment companies Prospect manages. Given the differences in the investment strategies and structures among other investment advisors, Prospect’s calculation of AUM may differ from the calculations employed by other investment managers and, as a result, this measure may not be directly comparable to similar measures presented by other investment managers. Prospect’s calculation also differs from the manner in which Prospect and its affiliates registered with the SEC report “Regulatory Assets Under Management” on Form ADV.
