iCapital Taps Drew Carrington to Lead Alternatives Strategy

Drew Carrington

iCapital announced that it has appointed Drew Carrington as managing director of alternatives in retirement portfolios.

Reporting to Dan Vene, co-founder and managing director of iCapital, and co-head of iCapital Solutions, Carrington will lead iCapital’s efforts to accelerate its adoption of alternative asset classes and products in the defined contribution market, the firm stated.

iCapital is a fintech firm, founded in 2013 to provide alternative investment technology tools to wealth advisers and their high-net worth clients. In addition to wealth managers, the company works with asset managers, family offices and institutional investors.

Carrington will be responsible for partnering with alternative investment managers to develop and distribute alternative investment products that “integrate seamlessly into the existing defined contribution ecosystem.”

Carrington brings nearly three decades of experience in retirement plan consulting and DC plan strategy, most recently serving as senior vice president and head of institutional DC at Franklin Templeton Investments. He departed that role in January. Before Franklin Templeton, he led the defined contribution team for UBS Global Asset Management.

At the time of the announcement, iCapital had more than $260 billion in alternative investments on its platforms across more than 2,000 funds.