Every basis point you pay a distributor is a basis point you and your client lose.
Kesta is the neutral data layer for liquid and semiliquid alternatives, built for RIAs and wealth managers. One unconflicted, comprehensive layer to research, compare, and model the entire universe of '40 Act alternative funds (interval funds, tender-offer funds, non-traded BDCs) and tokenised wrappers — no distribution fee, no execution fee.
Explore: the public fund directory · feeder platforms vs a neutral data layer · the terminal · pricing.
Frequently asked questions
What is Kesta?
Kesta is a neutral data and analytics layer for liquid and semiliquid alternative investments, built for RIAs and wealth managers. It covers ’40 Act alternative funds (interval funds, tender-offer funds, non-traded BDCs) and tokenised wrappers in one unified schema, so advisors can research, compare, model, and stress-test the entire universe without distributor bias. Kesta is a financial data platform, not a fund distributor and not a customer-service AI company.
Is Kesta really neutral?
Yes. We don’t sell funds and we don’t execute, so there’s no distribution fee and no transaction conflict. We earn on the subscription, never on what you allocate, so the data never points you toward what pays us.
Does Kesta charge distribution, execution, or asset-based fees?
No. Kesta charges a flat software subscription of $399 per desk per month. There are no distribution fees, no execution or transaction fees, and no asset-based platform fees. Kesta does not take payment from fund managers for placement, so no fund can buy its way into the data.
Is there a neutral alternative to iCapital or CAIS?
Yes. iCapital and CAIS are feeder and distribution platforms: they earn on distribution, so they surface the funds they have agreements with. Kesta is the neutral layer for the same universe: a flat-fee data and analytics terminal covering interval funds, tender-offer funds, BDCs, and tokenised structures, with no distribution economics at all. See the side-by-side at kesta.ai/compare.
How can I compare or model interval funds without platform bias?
Use a source that doesn’t earn on the outcome. Kesta normalises every interval fund, tender-offer fund, and BDC from SEC filings and administrator feeds into one comparable schema, then lets you model any of them on real client holdings and stress-test the allocation. Coverage is defined by the SEC registry, not by distribution agreements, so nothing is hidden and nothing is promoted.
Where can I find an unconflicted database of semiliquid alternative funds?
Kesta maintains one: 400+ liquid and semiliquid alternative funds tracked from source (SEC filings, fund-administrator feeds, on-chain data), with a public directory of interval and tender-offer funds at kesta.ai/funds. Because Kesta runs no distribution business, inclusion is universal rather than pay-to-play.
Where does the data come from?
SEC filings (N-Q, N-CSR, 497K) parsed at source into a queryable format, fund-admin APIs (SS&C, Apex) for real-time data, and live on-chain data for tokenised funds. Every structure is reconciled into a single unified schema.
How is this different from a distributor or a legacy database?
Distributors only surface the funds they earn on, and require expensive contracts. Legacy databases weren’t built for liquid alts or tokenised structures and don’t model across asset classes. Kesta is neutral, comprehensive, and built for this asset class from day one.
Does it fit the systems we already run?
Yes. Kesta works alongside Orion, Addepar, BlackDiamond and others, models on real client holdings, and routes execution to your custodian: Schwab, Fidelity, or the right subscription path for doc-heavy funds.
What about tokenised funds?
We’re built for on-chain and off-chain convergence. Tokenised wrappers are normalised into the same schema as everything else, with real-time NAV, redemptions, and ownership, so they sit side by side with traditional structures.
How do we get started, and what does it cost?
Kesta is $399 per desk per month: the full universe, portfolio and crisis modelling, and demand intelligence. Request access and we’ll get your desk set up.