Key Takeaways
- • AssetMark launched two new private equity interval funds—Calamos Aksia Private Equity and Alternatives Fund (CAPVX) and StepStone Private Equity Strategies Fund (STPEX)—expanding its private markets platform to six total interval funds across four asset classes.
- • The platform now spans private credit, private real estate, private infrastructure, and private equity, all integrated into AssetMark's unified managed account (UMA) technology for independent financial advisors.
- • The expansion builds on AssetMark's November 2025 launch of private credit, private real estate, and private infrastructure strategies, signaling accelerated growth in its alternative asset offerings.
- • AssetMark positions its solution to simplify operational complexity for advisors managing private markets exposure, addressing portfolio construction, liquidity management, and investor education requirements.
Summary
AssetMark announced on September 23, 2026, the expansion of its private markets platform through the addition of two private equity interval funds managed by established alternative asset providers. The Calamos Aksia Private Equity and Alternatives Fund (CAPVX) and the StepStone Private Equity Strategies Fund (STPEX) join AssetMark's existing suite of private markets strategies, bringing the total number of interval funds to six and extending coverage across four distinct alternative asset categories: private equity, private credit, private real estate, and private infrastructure.
The expansion represents a strategic acceleration of AssetMark's alternative investment capabilities. The company's private markets platform initially launched in November 2025 with three interval funds focused on private credit, private real estate, and private infrastructure. The introduction of private equity exposure through partnerships with Calamos Investments and StepStone Group broadens the diversification options available to independent financial advisors using AssetMark's platform.
David McNatt, Executive Vice President and Chief Wealth Solutions Officer at AssetMark, emphasized that private markets integration requires managing multiple operational and investment considerations. "Manager selection, portfolio construction, liquidity management, integrated operations, and advisor and investor education are critical," McNatt stated. AssetMark's approach consolidates these functions through its unified managed account technology, designed to reduce operational friction for advisors while maintaining portfolio-level oversight and coordination across private markets allocations.
The platform's design targets a key market inefficiency: independent advisors often lack the infrastructure, operational bandwidth, and expertise to effectively integrate private markets into client portfolios at scale. By curating a menu of interval funds and embedding them within its UMA framework, AssetMark provides both product access and portfolio management architecture. This positioning aligns with broader industry trends toward democratizing alternative asset access for smaller wealth management practices that previously lacked direct relationships with private markets managers.
The expansion represents a strategic acceleration of AssetMark's alternative investment capabilities. The company's private markets platform initially launched in November 2025 with three interval funds focused on private credit, private real estate, and private infrastructure. The introduction of private equity exposure through partnerships with Calamos Investments and StepStone Group broadens the diversification options available to independent financial advisors using AssetMark's platform.
David McNatt, Executive Vice President and Chief Wealth Solutions Officer at AssetMark, emphasized that private markets integration requires managing multiple operational and investment considerations. "Manager selection, portfolio construction, liquidity management, integrated operations, and advisor and investor education are critical," McNatt stated. AssetMark's approach consolidates these functions through its unified managed account technology, designed to reduce operational friction for advisors while maintaining portfolio-level oversight and coordination across private markets allocations.
The platform's design targets a key market inefficiency: independent advisors often lack the infrastructure, operational bandwidth, and expertise to effectively integrate private markets into client portfolios at scale. By curating a menu of interval funds and embedding them within its UMA framework, AssetMark provides both product access and portfolio management architecture. This positioning aligns with broader industry trends toward democratizing alternative asset access for smaller wealth management practices that previously lacked direct relationships with private markets managers.
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