 | |
| iCapital | |
| Company type | Private |
| Industry | Financial services |
| Founded | 2013 |
| Headquarters | One Grand Central Place, New York City, U.S. |
Key people | Lawrence Calcano (Chairman & CEO) |
| Products | |
| Total assets | US$191.2 billion (May 2024) |
Number of employees | 1,510 (2024) |
| Website | icapital |
Institutional Capital Network, Inc (doing business as iCapital) is an American fintech company that provides platform solutions related to alternative investments in the private markets.
iCapital was founded in New York in 2013 with the goal of opening up alternative investments to more investors. [1] [2]
iCapital has made a series of acquisition from banks. In March 2016, iCapital acquired HedgeFocus, a hedge fund business of Credit Suisse that focused on private banking clients. [3] In December 2017, iCapital acquired Deutsche Bank's US private equity access fund platform. [4] In March 2019, iCapital acquired Bank of America’s alternative investment feeder fund operations business. [5] In June 2020, iCapital acquired the feeder fund platform from Wells Fargo’s Global Alternative Investments division. [6]
When BlackRock became an investor of iCapital in 2016, it also negotiated the option to buy all of the company in two to five years. In 2019, Blackrock renegotiated its agreement where it would give up its option to acquire all of iCapital while acquiring additional ownership to remain as iCapital's largest minority shareholder. It was decided it was in the best interests for iCapital to remain independent in the hands of multiple investors. [1]
in 2022, iCapital reached a valuation of $6 billion. [5]
In February 2024, Institutional Investor reported that more than 100,000 financial advisors used iCapital and it had access to funds from 560 asset managers. [7]
In April 2024, iCapital acquired Mirador, a fintech reporting company. Mirado had strengths in data aggregation which would enhance iCapital's reporting process. [8] In the same month, iCapital launched iCapital Marketplace in Hong Kong and Singapore. [9]
The company provides platforms that make alternative investments more accessible to investors. Traditionally, most alternative investment assets have been held by institutional investors due to their complex nature as well as strict regulations. [2] [10] iCapital invests in private funds and assembles the fund allocation into vehicles that can be accessed more broadly by investors. [3]
iCapital has been backed by financial institutions such as banks which include JPMorgan Chase and Morgan Stanley as well as asset management firms which include Blackrock, Fidelity Investments and Blackstone Inc.. They have also partnered with iCapital to use its technology platforms. [2] [5] [10]
D. E. Shaw & Co., L.P. is a multinational investment management firm founded in 1988 by David E. Shaw and based in New York City. The company is known for developing complicated mathematical models and computer programs to exploit anomalies in financial markets. As of December 1, 2023, D. E. Shaw has $60 billion in assets under management, including alternative investments and long strategies.
BlackRock, Inc. is an American multinational investment company. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$11.5 trillion in assets under management as of December 31, 2023. Headquartered in New York City, BlackRock has 70 offices in 30 countries, and clients in 100 countries.
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