Bringing you live news and features since 2006 

iCapital Network acquires US Private Equity Access Fund Platform from Deutsche Bank

RELATED TOPICS​

iCapital Network has closed its acquisition of the US Private Equity Access Fund Platform from the Asset Management division of Deutsche Bank. iCapital now services more than USD5 billion in investor capital and nearly 10,000 investor accounts.

The US Private Equity Access Fund Platform is comprised of 33 fund families representing 53 onshore and offshore vehicles and USD2.8 billion in capital across more than 7,200 domestic and international investor accounts. iCapital has assumed management of the fund portfolio and iCapital’s end-to-end technology solution will be leveraged to streamline and automate the ongoing administration of the funds and provide operational support for the underlying investors. iCapital will also maintain relationships with the funds’ third-party service providers.
 
“This transaction aligns with our goals and global vision for the company and cements our position as an industry leader with a talented team, critical technology and unparalleled sourcing ability focused on bringing the highest-quality private investment opportunities to the high-net-worth and ultra-high-net-worth markets,” says Lawrence Calcano, Chief Executive Officer of iCapital Network. “We have strategically expanded our footprint in a way that will foster future growth and an exceptional investor experience.”
 
Additionally, iCapital has hired 15 employees from Deutsche Asset Management who will continue to manage funds and support investors in the US Private Equity Access Fund Platform and will ensure a smooth transition for clients.
 
Wes Sturdevant has been named Managing Director of iCapital and will focus on strategic business development and relationship management with key clients. Previously, Sturdevant was a Director and Head of the US Private Equity Access Fund Platform at Deutsche Asset Management, where he oversaw structuring and distribution to wealth management clients globally. Prior to joining Deutsche Bank in 2000, Sturdevant was with Goldman, Sachs & Co.
 
Joanie O’Grady has been named Senior Vice President and Head of Portfolio Monitoring and joins the Origination & Due Diligence team led by iCapital Co-Founder and Managing Partner Nick Veronis. Previously, O’Grady was a Director of the US Private Equity Access Fund Platform where she was Head of Portfolio Monitoring & Product Development and a member of the Investment Committee. Prior to joining Deutsche Bank in 2004, Ms. O’Grady served in the Private Equity Fund Group at Goldman Sachs Asset Management.
 
Susan Park has been named Senior Vice President, Fund Administration and joins the Investor Relations & Fund Administration group reporting to iCapital’s Chief Operating Officer and Managing Partner Tom Fortin. Previously, Park was a Director of the US Private Equity Access Fund Platform where she was Head of US Fund Finance and oversaw all aspects of fund management and operations, including client reporting, accounting and tax. Prior to joining Deutsche Bank in 2007, Park served in the Private Wealth Management Division of Goldman, Sachs & Co.
 
“We’re witnessing tremendous wealth creation all around the world and increasing demand from the global high-net-worth community for access to high quality alternative investments, setting the stage for an era of unprecedented growth,” says Sturdevant, Managing Director at iCapital. “My team and I are excited to join iCapital and introduce the firm’s innovative digital solution to wealth holders and their closest advisers.”
 

Latest News

HSBC Asset Management’s (HSBC AM) ETF and Indexing business has passed USD100 billion in assets under management (AUM), reflecting its..
Amundi’s ETF Market Flows Analysis for April reveals that investors added EUR54.1 billion to global ETFs in April with equities..
VanEck has reached USD10 billion in assets under management in Europe for the first time in April 2024...
Global index revenues increased 9.3 per cent in 2023, totalling a record USD5.8 billion, according to a benchmark study published..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by