iCapital Network, a NYC-based provider of a technology infrastructure for alternative investing, received strategic investments from The Carlyle Group (NASDAQ: CG) and JPMorgan Chase (NYSE: JPM).
The amount of the deals – which follow last week’s announcement that Blackstone has invested in iCapital – were not disclosed.
All three firms leverage the company’s proprietary technology to manage operations and administration of private fund vehicles for the retail wealth management community. iCapital is also now partnered with other respected names in the wealth and asset management industries, including BlackRock, Morgan Stanley, UBS, Fidelity, AllianceBernstein and HSBC.
Led by CEO Lawrence Calcano, iCapital Network provides a financial technology platform for alternative investments featuring solutions for investors, advisors and asset managers. The firm’s flagship platform offers high-net-worth investors and independent wealth advisors a curated menu of private equity and hedge funds at lower minimums with a suite of due diligence and administrative support in a secure digital environment. Banks and asset managers leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure.
iCapital serviced more than $6 billion in invested capital across more than 14,000 underlying accounts as of June 30, 2018.