iCapital Network, the leading financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, and Artivest, one of the most innovative technology companies for accessing and investing in alternatives, announced that they have entered into a definitive agreement under which iCapital will acquire the Artivest platform and operating businesses.
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iCapital announced it will acquire @Artivest, which will create a powerful combination enhancing the operational economies of scale in the offering and servicing of alternatives and the support of both Artivest and iCapital clients and partners.
Under the terms of the agreement, iCapital will purchase the majority of Artivest’s assets, including all technology and its operating platform. The transaction also includes management of Artivest’s 28 proprietary alternative investment funds, along with several large enterprise relationships and Artivest’s ‘Open Network’ platform, which offers a menu of alternative products and strategies to approximately 1,800 financial advisors and their high-net-worth investors. As part of the transaction, 28 Artivest team members are expected to join iCapital.
Following the close of this transaction, iCapital will service more than $55 billion in client assets across approximately 650 funds, 115,000 underlying accounts, and more than 70 white label partners. The acquisition will create further operational economies of scale in the offering and servicing of alternative investments and additional benefits for both Artivest and iCapital clients and partners.
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“Given our shared mission to facilitate meaningful alternative investing opportunities across the wealth and asset management spectrum, this acquisition was compelling for a number of reasons,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital Network. “We have long admired Artivest’s technical innovations and capabilities in registered funds and direct investments, and the strength of their team. The integration of these attributes with iCapital’s already robust platform and product offerings creates a powerful combination delivering a ‘best-in-breed’ technology experience while also presenting new platform partners and strategies to our respective clients.”
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