Bringing you live news and features since 2006 

iCapital Network acquires Wells Fargo alternative investments feeder fund platform

RELATED TOPICS​

iCapital Network is to acquire the alternative investments feeder fund platform from Wells Fargo’s (NYSE: WFC) Global Alternative Investments (GAI) division. As a part of the transaction, Wells Fargo is making a strategic investment in iCapital under the terms of iCapital’s latest fundraising round.

 
Wells Fargo’s alternative investment feeder fund platform supports a full suite of alternative solutions, including private equity, private debt, hedge funds, private real estate and direct private investments across approximately 70 investment vehicles. Last month, iCapital announced its agreement to acquire the Artivest platform and operating businesses. Upon completion of both transactions, iCapital’s platform will service nearly USD58 billion in client assets across more than 720 funds, 120,000 underlying accounts, and more than 70 white label partners.
 
“We are enormously excited to forge this partnership with Wells Fargo as another important milestone on our mission to create the industry standard technology solution for private investments,” says Lawrence Calcano, Chairman and Chief Executive Officer of iCapital Network. “This agreement is emblematic of the great strides we have made to provide greater access, efficiency and transparency for the wealth management community seeking alternative investing strategies for their high-net-worth clients.”
 
Darrell Cronk, president of Wells Fargo Investment Institute, says: “We are pleased to partner with iCapital to deliver alternative investments to enhance the experience for our advisors and clients. This transaction will allow us to continue to provide innovative alternative investment solutions to our clients as well as upgrade the overall platform and launch new offerings.”
 
iCapital’s white-label technology will be leveraged to streamline and automate ongoing operations and fund administration services for Wells Fargo’s alternative investment feeder funds. It will also provide best-in-class support to Wells Fargo’s advisors and their high-net-worth client base. As part of the transaction, iCapital will offer employment to a team of Wells Fargo employees who currently support operations for the GAI Feeder Fund Platform. The transitioning team will continue to support the fund portfolio to ensure continuity of service.

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
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