MLG Capital Partners with iCapital to Open Up Private Real Estate

BROOKFIELD, Wis. – February 25, 2026 – In a significant move to broaden the distribution of alternative investments, national private real estate leader MLG Capital announced its two latest funds are now available on the influential iCapital Marketplace. The partnership makes MLG Private Fund VII and MLG Dividend Fund VII accessible to the vast network of financial professionals on iCapital’s platform, signaling a broader trend of technology-driven democratization in the private markets.

This collaboration aims to dismantle historical barriers, providing Registered Investment Advisors (RIAs) with streamlined access to institutional-quality real estate investments that have traditionally been out of reach for many of their clients. By leveraging iCapital's robust technological infrastructure, MLG Capital is directly addressing the growing demand from the wealth management community for more efficient pathways into alternative asset classes.

A Strategic Alliance for Broader Access

The partnership places MLG Capital's offerings onto a platform that supports over 122,000 financial professionals and 3,300 wealth management firms. iCapital has established itself as a critical fintech gateway, connecting asset managers with a broad base of advisors seeking to diversify client portfolios beyond traditional stocks and bonds. The platform provides a suite of tools for education, diligence, and analytics, simplifying what has historically been a cumbersome process.

“Our partnership with iCapital is a direct extension of MLG’s strategy to make high-quality private real estate more accessible to a broader range of advisors and their clients,” said Lindsey Collings, Vice President at MLG Capital, in the official announcement. The firm emphasizes that this move is designed to reduce the operational friction that often deters advisors from allocating capital to private assets.

This sentiment was echoed by Vice President Steve Kelly, who added, “RIAs want easy access to high quality alternative investments. By joining iCapital Marketplace, we’re meeting advisors in the ecosystem where they already operate, reducing onboarding friction, and increasing the visibility of our offerings.”

The integration means advisors can now review MLG's fund strategies, access digital offering documents, and execute subscriptions entirely within the iCapital ecosystem, a stark contrast to the paper-intensive, manual workflows of the past. This technological integration is central to MLG Capital's goal of becoming a more scalable and trusted solution for wealth managers navigating the complexities of private market investing.

The Growing RIA Appetite for Alternatives

MLG Capital's strategic move is timed to meet a powerful current in the wealth management industry: a surging demand for alternative investments. As market volatility and an uncertain interest rate environment challenge the efficacy of traditional 60/40 portfolios, RIAs are increasingly turning to private markets to source returns, generate income, and hedge against inflation.

Private real estate, in particular, has become a favored asset class for its potential to provide stable cash flow and act as a buffer against public market swings. However, accessing these investments has long been a challenge for RIAs, who face hurdles ranging from high investment minimums and complex subscription processes to the overwhelming burden of performing due diligence on niche strategies.

Technology platforms have emerged as the solution. Industry studies show that over 70% of RIAs now utilize external technology platforms to integrate alternatives, with iCapital being a dominant player. These platforms provide the scale, efficiency, and technological framework that individual advisory firms, especially smaller ones, cannot build on their own. They offer curated menus of investment opportunities, standardized reporting, and critical due diligence resources, empowering advisors to confidently incorporate alternatives into their clients' long-term financial plans.

Inside MLG Capital's Investment Engine

For advisors considering the new offerings, understanding the manager is as important as understanding the market trend. Founded in 1987, MLG Capital has a long history in the private real estate space, managing a portfolio with a market value of approximately $8.3 billion, encompassing over 52 million square feet of property. The firm’s strategy is rooted in diversification, risk mitigation, and tax efficiency.

MLG Private Fund VII, a $400 million equity fund, exemplifies this approach. The fund targets a diversified portfolio of 25-30 income-producing assets across the U.S., including multifamily, industrial, and other commercial properties. This diversification extends not only across asset types and geography but also through a dual-sourcing acquisition strategy that combines direct acquisitions with joint venture partnerships, leveraging long-standing industry relationships to uncover opportunities.

The fund targets an attractive net return to investors in the 11-15% range. Its investor-friendly structure features an 8% cumulative preferred return, meaning investors receive the first tier of profits annually before the firm participates in further profit-sharing. After the preferred return and a full return of principal, remaining profits are split 70/30 between investors and the manager. The firm also emphasizes a conservative approach to debt, typically targeting leverage around 60-65% of cost, and charges a 1.25% asset management fee on invested capital, not committed capital.

Navigating the New Landscape of Private Investing

While MLG Capital is a significant addition to the iCapital platform, it joins a competitive field of asset managers using technology to reach the wealth management channel. Firms like Origin Investments and Arixa Capital have also leveraged platforms like iCapital to offer their own specialized real estate funds, creating a vibrant marketplace for advisors to compare strategies.

MLG Capital seeks to differentiate itself through its deep diversification, moderate leverage, and a 38-year track record focused on tax-advantaged returns. However, the availability of these funds on a streamlined platform does not remove the advisor's core fiduciary responsibilities.

Regulators like FINRA and the SEC continue to emphasize that RIAs must conduct their own reasonable investigation and due diligence before recommending any product, especially complex and illiquid alternatives. While platforms like iCapital provide extensive resources to aid in this process, the ultimate suitability determination remains with the advisor. This partnership, therefore, represents not a replacement for advisor expertise, but a powerful new tool that enables them to apply that expertise across a wider and more impactful range of investment opportunities.