iCapital plans to hire more product and engineering staff in Singapore even as AI generates 75% of its code, CEO Lawrence Calcano told The Business Times.
The New York-headquartered alternative investments platform uses AI for code generation, testing and quality assurance.
Calcano said the technology allows the company to improve efficiency while expanding its capabilities.
“I think it is a significant opportunity for us to be more efficient and deliver more capabilities and user friendliness to clients,”
said Calcano.
iCapital shifts focus from access to analytics
iCapital’s 2026 Asia Advisor Survey found that investors are looking beyond basic access to private markets and seeking more sophisticated portfolio management and analytical tools.
Calcano said the industry’s initial focus was on opening private markets to investors. As more advisers and their clients enter the market, demand is growing for analytics and education to support investment decisions.
These requirements go beyond the reporting capabilities that large institutional investors previously prioritised.
iCapital has invested more than US$1 billion in technology since its founding, focusing on education, access, administration, reporting and liquidity.
The survey identified risk analytics as the top technology priority for Asian advisers, while compliance emerged as the fastest-growing challenge. Advisers are increasingly asking fund managers about exposure, liquidity and regulatory suitability.
Calcano said the company must balance large-scale technology capabilities with tailored solutions to meet different client requirements.
Private credit loses favour as real assets gain interest
More than a quarter of surveyed advisers plan to increase their allocations to alternative investments over the next 12 months, despite weakening confidence in the global economic outlook.
Calcano said investors increasingly view alternatives as core portfolio holdings that can potentially improve returns and help manage risk.
However, preferences within the asset class are changing. Asian investors are showing greater interest in real assets, while interest in private credit has declined.
Private credit, the leading alternative investment category among Asian advisers in 2025, saw interest fall 23 percentage points from 71% to 48% in this year’s survey.
Calcano attributed the decline to economic uncertainty and concerns about AI disrupting technology companies. Investors are also examining credit metrics more closely to assess potential risks.
He said he had not seen evidence of underperforming credits exceeding portfolio managers’ expectations, which had helped ease some concerns.
Singapore remains central to iCapital’s international plans
Brooks Entwistle, iCapital’s newly appointed Head of International, said Singapore remains an important hub for the company’s global operations.
Its Singapore office houses expertise across business functions, including sales.
Beyond alternative investments, iCapital is exploring opportunities in annuities and insurance. The company may develop additional capabilities in Singapore or Zurich to support these offerings.
iCapital previously partnered with digital wealth platform Endowus to expand private market investment access for accredited investors in Singapore and Hong Kong.
Featured image credit: Edited by Fintech News Singapore, based on image by lifeforstock via Magnific
