UBS Group AG’s Americas business has joined forces with two financial technology firms to set up an exchange for affluent clients to buy and sell private assets.
The Swiss bank together with Envestnet Inc. and iCapital Network are behind what they’ve dubbed the Alternatives Exchange, where independent advisers and their high-net-worth clients will be able to browse, purchase and sell private investments such as real estate, hedge funds and private equity, according to a statement.
