Online PE marketplace iCapital Network
To buy HedgeFocus from Credit Suisse NEW YORK, NY March 21, 2016 iCapital Network, a monetary technology platform that offers the high-net-worth market with access to alternative investments, and Credit Suisse today announced that they have actually entered into a conclusive purchase arrangement pursuant to which iCapital has actually gotten the HedgeFocus business from the Swiss bank.
The HedgeFocus portfolio includes more than 20 hedge fund access cars representing roughly US$ 1.8 billion in assets in a combination of occasion driven, multi-strategy, directional, relative value and tactical techniques run by reputable supervisors.
With the transfer of assets, iCapital will be responsible for the ongoing administration and maintenance of the investments for all existing financiers as well as marketing, administration and servicing for new investors subscribing through iCapital.
This acquisition is a natural extension of our company technique, helping us expand our footprint in ways that align with the important investment priorities of the high-net-worth neighborhood for access, option and transparency, stated Lawrence Calcano, Managing Partner of iCapital Network. By any metric, this is a transformational deal for iCapital and a crucial milestone in our efforts to gear up the independent wealth neighborhood with a leading-edge alternative investments option.
This offer is the conclusion of a highly collaborative and close working relationship with iCapital Network that goes back to the firm s creation in 2013, stated Eileen Duff Blalock, Head of Alternative Investments, Private Banking North America at Credit Suisse. We needed to be incredibly thoughtful about who we might leave these possessions to, and, after reviewing the entire landscape carefully, we knew that iCapital was the best decision on behalf of our financiers and relationship managers.
iCapital offers a curate choice of alternative investments, consisting of private equity, credit, realty, venture capital and hedge funds, to its personal network of signed up investment consultants, broker-dealers, household workplaces and individual high-net-worth investors.
The firm s online platform was purpose-built to offer next generation fund diligence, consisting of discussion materials, due diligence reports, competitor benchmarking, supervisor profile videos and historic fund efficiency.
The iCapital platform is developed on proprietary technology that makes it possible for electronic fund memberships and redemptions and automates capital confirmations, fund statements, tax reporting and investor reporting to deliver the practiced financier relations experience backed by customized, professional support. Having actually been part of DTCC Alternative Investment Product Services since early 2015, iCapital is fully incorporated with the industry s significant custodians and leading portfolio management and reporting systems.
Our financier base of independent wealth advisors, private banks and family workplaces has significantly been asking for a complete alts solution, which has actually been our objective from the first day, said Nick Veronis, Co-Founder and Managing Partner of iCapital Network. The acquisition of HedgeFocus fits seamlessly with that goal and puts the firm and our clients directly at the technological leading edge of the alternative investments landscape.