Mercury Capital Advisors has launched Mercury iFunds, a digital investment platform offering alternative assets to its existing institutional clients.
The New York-based placement agent is aiming to widen LPs access to alternative investments via the platform. “We’re able to offer investments at a lower entry amount than big private banks. LPs can access investments at a minimum $100,000 subscription,” said Michael Ricciardi, chief executive of Mercury.
The platform offers access to investments held by their existing clients, on which the firm carries out routine due diligence.
“With this digital product we’re also offering more efficient marketing methods,” said George Lucaci, partner and senior advisor at the firm.
The platform is part of small market for alternative investment digital platforms which includes BlackRock backed iCapital Networks and Fidelity Institutional's alternatives platform, launched in 2013.
Mercury Capital Advisors spun out from banking conglomerate Bank of America Merrill Lynch in 2008.