iCapital has announced the acquisition of Citi Global Alternatives, an indirect subsidiary of Citi and the adviser to Citi Wealth’s global alternative investment platform.
This platform includes over 180 funds, covering a wide range of asset classes such as private equity, growth equity, private credit, infrastructure, venture capital, real estate, and hedge funds.
iCapital chairman and CEO Lawrence Calcano said, “We are excited to partner with Citi Wealth to drive growth for their alternatives business globally. iCapital’s technology platform will streamline the operations and management of their current and future alternative investment funds platform.
“Additionally, we will enhance Citi Wealth’s global sales capabilities with a dedicated alternative investment specialist team, equipping advisors with more resources focused on pre-sale, sale and post sales investment activities. The team will cover all asset classes and product structures, working in close partnership with Citi and general partners to support alts platform growth.”
Citi Wealth head of alternatives and investment manager solutions Daniel O’Donnell said, “Citi Wealth already has a strong working relationship with iCapital on alternative solutions, and we’re excited to expand our relationship to bring greater integration of iCapital’s market-leading digital capabilities to our advisors, bankers, investment counselors and clients.”
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