iCapital has acquired Citi Global Alternatives, strengthening its partnership with Citi Wealth to enhance the alternative investment platform. This acquisition aims to streamline operations and provide enhanced capabilities for Citi Wealth’s global alternative investment funds.
In a significant move to expand its partnership with Citi Wealth, iCapital has announced the acquisition of Citi Global Alternatives, an indirect subsidiary of Citi. This strategic acquisition will bolster iCapital’s capabilities in managing Citi Wealth’s global alternative investment platform, which includes a diverse range of over 180 funds covering asset classes such as private equity, growth equity, private credit, infrastructure, venture capital, real estate, and hedge funds.
iCapital, a leader in financial technology that provides services for alternative investment platforms, aims to leverage its technology and expertise to streamline the operations and management of Citi Wealth’s alternative investment funds.
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.”
Lawrence Calcano, Chairman and CEO
The deal is expected to enhance Citi Wealth’s global sales capabilities. A dedicated alternative investment specialist team will be formed to provide increased resources for pre-sale, sale, and post-sale investment activities. This team will support Citi Wealth’s growth by covering all asset classes and product structures, working closely with Citi and general partners.
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.”
Daniel O’Donnell, Citi Wealth’s head of alternatives and investment manager solutions,
This move marks a milestone in the growing collaboration between iCapital and Citi Wealth, reinforcing the shift towards digital capabilities in alternative investments and providing a broader range of opportunities for investors globally.
