BlackRock and RedBlack each introduced new technology capabilities for alternative investments on Wednesday, targeting persistent operational gaps that have hindered advisor adoption of private markets. BlackRock's Aladdin business expanded its private credit analytics through Preqin, the private-markets data provider acquired last year. Separately, RedBlack, a rebalancing and trading platform, announced an integration with CAIS, the alternative investment marketplace, becoming the first order management system to connect directly to CAIS.
The announcements come as advisor demand for alternatives has surged, but the supporting infrastructure has lagged. According to industry surveys, allocations to private markets among high-net-worth investors have climbed steadily, yet many advisors still rely on manual processes or multiple platforms to execute and monitor alternative investments. Both firms aim to reduce that friction.
The RedBlack-CAIS integration targets operational complexity directly. Through the new connection, advisors can view CAIS-available funds within RedBlack, create orders using models or manual entry, apply compliance and allocation controls similar to those used for traditional securities, and monitor order status on RedBlack's trade blotter—all without switching systems. Brendan Cuddihy, chief operating officer at CAIS, said in a statement, "Advisors want access to alternatives without introducing new operational hurdles." Jennifer Valdez, chief revenue officer at RedBlack, added, "This integration with CAIS brings alternatives directly into the rebalancing and trading workflow advisors already rely on."
The integration supports straight-through processing with real-time status visibility and automatically maintains allocation targets and available cash, a feature likely to appeal to firms scaling their alternatives business. This development aligns with broader trends in wealth management technology, as discussed in Inside the platform race: what advisors actually want from custodians.
On the data side, BlackRock's Aladdin enhancements to Preqin Pro expand private credit data across closed-end funds, business development companies, and semi-liquid vehicles. The platform introduces asset-level benchmarks that standardize performance comparisons across metrics including money multiples, leverage ratios, defaults and recoveries, and borrower financials. AI-powered analytics allow users to interrogate market, fund, and asset data within a single environment. Kunal Khara, global head of Aladdin product at BlackRock, said, "Private credit is becoming a core part of portfolios, but the data remains fragmented."
The Preqin expansion is the first in a planned series of product enhancements, according to BlackRock. The Aladdin platform—which includes eFront, Aladdin Wealth, and Preqin—is central to BlackRock's strategy of positioning itself as a technology provider to the broader investment industry. Financial advisors have watched Aladdin's build-out closely as the firm integrates its Preqin acquisition into a unified data layer.
The timing of both announcements is notable. Demand for alternatives among retail and high-net-worth investors has climbed steadily, but the infrastructure to support that demand has lagged. Amid a growing push to democratize private markets—a rallying cry that BlackRock CEO Larry Fink has lent his voice to—technology is emerging as the critical bottleneck. Both integrations represent an effort to eliminate that gap, whether through better benchmarking of BDC performance or placing a private fund subscription without leaving a rebalancing tool.
Advisors building out their alternatives practices will want to take note of both developments. The moves also come amid increased regulatory scrutiny of private credit disclosures, as highlighted in SEC sweep targets private credit disclosures at 14 funds.
