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iCapital® Network Closes the Acquisition of the US Private Equity Access Fund Platform from Deutsche BankiCapital Network, the financial technology platform democratizing alternative investments for high-net-worth individuals and their advisors, today announced the close of the transaction in which it acquired the US Private Equity Access Fund Platform from the Asset Management division of Deutsche Bank. The transaction was completed on December 8, 2017. With the transfer of assets, iCapital now services more than $5 billion in investor capital and nearly 10,000 investor accounts. The US Private Equity Access Fund Platform is comprised of 33 fund families representing 53 onshore and offshore vehicles and $2.8 billion in capital across more than 7,200 domestic and international investor accounts. iCapital has assumed management of the fund portfolio and iCapital's end-to-end technology solution will be leveraged to streamline and automate the ongoing administration of the funds and provide operational support for the underlying investors. iCapital will also maintain relationships with the funds' third-party service providers. "This transaction aligns with our goals and global vision for the company and cements our position as an industry leader with a talented team, critical technology and unparalleled sourcing ability focused on bringing the highest-quality private investment opportunities to the high-net-worth and ultra-high-net-worth markets," said Lawrence Calcano, Chief Executive Officer of iCapital Network. "We have strategically expanded our footprint in a way that will foster future growth and an exceptional investor experience." Additionally, iCapital has hired 15 employees from Deutsche Asset Management who will continue to manage funds and support investors in the US Private Equity Access Fund Platform and will ensure a smooth transition for clients.
Terms of the transaction were not disclosed. About iCapital Network iCapital Network is a financial technology platform that provides modular alternative investments solutions for registered investment advisors, broker-dealers, private banks, family offices and other sophisticated investors. The state-of-the-art online portal offers a curated menu of private equity, private credit, venture capital, real estate and hedge funds, along with extensive due diligence support, an automated subscription process and integration with a wide range of custodians and reporting packages. The firm's configurable technology and specialized suite of services is also used by asset managers and financial institutions to streamline and automate their private fund operational infrastructure. For additional information, please visit the Company's website at www.icapitalnetwork.com | LinkedIn (News - Alert): https://www.linkedin.com/company/icapital-network-inc | Twitter (News - Alert): @icapitalnetwork | Facebook: https://www.facebook.com/icapitalnetwork/ Disclosures: This material is provided for informational purposes only and is not intended as, and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by iCapital. Past performance is not indicative of future results. Alternative investments are complex, speculative investment vehicles and are not suitable for all investors. An investment in an alternative investment entails a high degree of risk and no assurance can be given that any alternative investment fund's investment objectives will be achieved or that investors will receive a return of their capital. The information contained herein is subject to change. Securities may be offered through iCapital Securities, LLC, a registered broker dealer, member of FINRA and SIPC and subsidiary of Institutional Capital Network, Inc. iCapital and iCapital Network are registered trademarks of Institutional Capital Network, Inc. All rights reserved.
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