Canoe Intelligence and Envestnet partner to deliver seamless alts data experience
NEW YORK, May 8, 2025 – Canoe Intelligence (“Canoe”), the platform for smarter alts management, and Envestnet, a technology and services provider trusted by more than one-third of all financial advisors, today formally announced their integration partnership. This new relationship will initially offer wealth managers a way to automate the delivery of their data in Canoe’s platform into Envestnet | Tamarac’s reporting system, Tamarac Reporting®. In 2026, the integration will extend to the Envestnet platform.
Envestnet has long been a leader in enabling advisors to offer sophisticated investment strategies to high-net-worth (HNW) clients at scale. After improving portfolio management capabilities and access to separately managed accounts (SMAs) and unified managed accounts (UMAs), the firm is now focused on bringing the same innovation to a fast-growing area of the industry—alternative investments.
Based on an uptick in demand from both firms’ client bases, the Canoe and Envestnet teams are working together to build connectivity between their respective platforms. This partnership will enable the seamless, automated integration of data extracted by Canoe from alternatives notices and statements directly into Envestnet’s back-office platform for independent advisors, Envestnet | Tamarac—and next year, directly into the Envestnet platform. Over two dozen existing mutual clients will be able to streamline their operational workflows with this integration.
“For over 20 years, Envestnet has innovated in the pursuit of equipping advisors with the tools and resources needed to deliver the most impactful financial advice to their clients. We are now strengthening our alternative investment infrastructure and capabilities by integrating with partners to broaden the range of alts data available to advisors across our platform,” said Dana D’Auria, CFA, Co-Chief Investment Officer and Group President of Envestnet Solutions. “Canoe is a leader in the alternative investment reporting space, and we consistently seek out new partners to enhance the personalized wealth experience, so our two firms working together is a natural fit.”
Over 400 institutional investors, asset servicers, capital allocators, and wealth managers leverage Canoe Intelligence to automate their most time-consuming manual alternative investment processes. The Canoe Intelligence Partner Program is designed to create a seamless experience for clients with a system-agnostic, client-first approach to integrations.
“We are excited to welcome Envestnet to the Canoe Partner Program. Our integration with Envestnet is driven directly by client feedback and by our organizations’ shared commitment to efficiency,” said Tony Emma, Channel Partnerships Manager at Canoe Intelligence. “This partnership allows us to automate critical parts of the alternative investment workflow, saving our clients valuable time and reducing manual effort. The Envestnet team has been incredible to work with, and we’re thrilled to bring this seamless integration to market in response to growing customer demand.”
In July 2024, Canoe completed its Series C financing round of $36 million, led by Growth Equity at Goldman Sachs Alternatives. This marks a significant milestone for Canoe, representing a more-than-three-times increase in its company valuation. The additional capital will fuel Canoe’s strategic initiatives, global growth, and advancement of its AI-driven financial technology platform for alternative investors.
As of the end of 2024, Canoe proudly operated in eight countries and 31 U.S. states to support clients across more than two dozen countries. Today, Canoe supports over 1,000 LPs, 44,000 funds, 750,000 commitments, and more than $8 trillion in assets under management and administration across its global client base. On behalf of clients, Canoe processes over 50 million documents and extracts more than 300 million data points every year.
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About Canoe Intelligence
Canoe Intelligence redefines alternative investment intelligence through AI-driven, cloud-based software that automates and streamlines alternative investment workflows. With over $8T in assets under automation and more than 400 clients, Canoe empowers institutions, LPs, and wealth managers to transform their alternatives data operations. Learn more: www.canoeintelligence.com
About Envestnet
Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions—backed by industry-leading service and support. Serving the wealth management industry for 25 years with approximately $6.5 trillion in platform assets, Envestnet technology and services are trusted by more than one-third of all financial advisors. Many of the largest U.S. banks, wealth management and brokerage firms, and RIAs depend on Envestnet to help drive business growth and productivity—and deliver better outcomes for their clients.
For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (@Envestnet_).
This release refers to information, products or services that may be in development and not yet available. Accordingly, nothing herein should be construed as a representation or legal agreement by Envestnet to make available specific products or services (including, without limitation, concepts, systems or techniques.)
Canoe Intelligence and Envestnet are separate and unaffiliated firms. This material should not be construed as a recommendation or endorsement of any particular product, service, individual or firm.
MEDIA CONTACT:
Betsy Miller Daitch
Canoe Intelligence
+1 443-690-6200
bdaitch@canoeintelligence.com
MEDIA CONTACT:
Laura Simpson
JConnelly for Envestnet
envestnetpr@jconnelly.com
