iCapital and Citi have announced that iCapital is acquiring from Citi one of its indirect subsidiaries, Citi Global Alternatives, LLC, the adviser to Citi Wealth’s global alternative investment fund platform.
This platform represents more than 180 alternatives funds distributed globally. It comprises investment vehicles across a diverse range of alternative investment strategies and asset classes, including private equity, growth equity, private credit, infrastructure, venture capital, real estate and hedge 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,” says Lawrence Calcano, Chairman and CEO of iCapital. “Additionally, we will enhance Citi Wealth’s global sales capabilities with a dedicated alternative investment specialist team, equipping advisers 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 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,” says Daniel O’Donnell, Head of Citi Wealth Alternatives and Investment Manager Solutions.
