Latest news with #LawrenceCalcano
Yahoo
11-07-2025
- Business
- Yahoo
Alternative investment platform iCapital lands $820m funding
Fintech firm iCapital has raised more than $820m in a financing round co-led by T. Rowe Price Associates, T. Rowe Price Investment Management, and SurgoCap Partners, boosting its valuation to over $7.5bn. The terms of the funding round were not disclosed The company manages $945bn in global assets, including $257bn in alternative platform assets, $203bn in structured investments and annuities, and $485bn in reported client assets. The newly acquired funds will facilitate strategic acquisitions aimed at enhancing the experience for advisors and clients, enabling asset managers to reach a broader investor base, and streamlining operations within the investment ecosystem. T. Rowe Price Private Equity head David DiPietro said: 'iCapital has built a platform that has not only become foundational to private markets investing, but it is also setting the standard for operational excellence in the industry.' iCapital's technology-driven platform integrates alternative investments, structured products, and annuities, offering comprehensive tools for education, transactions, data management, analytics, and client support. As highlighted in BlackRock's 2025 Private Markets Outlook, wealth channel allocations to private markets are projected to reach $20tn by 2030. iCapital supports wealth managers with a unified interface for private markets and traditional assets, featuring streamlined onboarding, document management, performance tracking, and regulatory compliance. For asset managers, the company provides end-to-end solutions, a digital marketplace, customised distribution tools, and AI-powered services. iCapital chairman and CEO Lawrence Calcano said: 'This capital raise reflects our investors' enthusiasm for the opportunity we have to transform the investing experience. More importantly, it enables us to accelerate the work that matters most – delivering differentiated value to our clients.' Since its founding in 2013, iCapital has invested over $700m in its platform and completed 23 acquisitions, including recent deals with Mirador, AltExchange, and Parallel Markets. The company has grown its workforce to 1,875 employees across 16 global offices. The platform now supports over 750 product providers and more than 3,000 wealth management firms globally, with 2,100 funds available and 114,000 active financial professional users. Goldman Sachs acted as financial advisor and placement agent for the transaction, with Ropes & Gray providing legal counsel. Last month, Liechtenstein's GT private bank partnered with iCapital to digitise its alternative investment portfolio, creating a technology platform that integrates with LGT's banking systems. "Alternative investment platform iCapital lands $820m funding" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Entrepreneur
11-07-2025
- Business
- Entrepreneur
iCapital Raises USD 820 Mn, Reaches USD 7.5 Bn Valuation
The capital will be used to support strategic acquisitions that improve the advisor and client experience, empower asset managers to expand their reach and attract a broader range of investors, and create opportunities to reduce friction in the ecosystem for all participants. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Global fintech firm iCapital has secured over USD 820 million in its latest financing round, pushing its valuation past USD 7.5 billion. The round was co-led by accounts advised by T Rowe Price Associates, Inc, T Rowe Price Investment Management, Inc, and SurgoCap Partners, marking a major milestone for the company as it continues to reshape the investment landscape through advanced technology and infrastructure solutions. With USD 945 billion in assets serviced globally including USD 257 billion in alternative platform assets and USD 203 billion in structured investments and annuities, iCapital has steadily become a central figure in the digital transformation of wealth and asset management. "This capital raise reflects our investors' enthusiasm for the opportunity we have to transform the investing experience," said Lawrence Calcano, Chairman and CEO of iCapital. "More importantly, it enables us to accelerate the work that matters most—delivering differentiated value to our clients." The new funds are earmarked for strategic acquisitions aimed at enhancing user experience, broadening investor access, and reducing friction across the investing ecosystem. As demand grows for alternative assets, structured investments, and annuities, iCapital is focused on strengthening its fully integrated platform, which supports education, transactions, analytics, and client service. According to David DiPietro, Head of Private Equity at T Rowe Price, "iCapital has built a platform that has not only become foundational to private markets investing, but it is also setting the standard for operational excellence in the industry." Founded in 2013, iCapital has poured over USD 700 million into its platform to date and completed 23 strategic acquisitions. With a global footprint spanning 16 offices including hubs in New York, London, Zurich, and Singapore, the company now serves more than 3,000 wealth management firms and over 114,000 financial professionals. Michael Kushner, Chief Financial Officer at iCapital, stated, "The proceeds from this capital raise will be strategically deployed to accelerate our acquisition efforts... expanding our data capabilities and advancing the tools and solutions we provide to wealth and asset managers globally." Backed by advanced technologies like AI and machine learning, iCapital continues to provide end-to-end lifecycle management for non-traditional investment products, enabling seamless onboarding, performance tracking, and compliance—all within a single unified interface.
CNA
10-07-2025
- Business
- CNA
Fintech iCapital valued at over $7.5 billion in latest fundraise amid private markets rush
Alternative investments fintech iCapital was valued at more than $7.5 billion in its latest external funding round, where it raised more than $820 million, the company said on Thursday, highlighting investor interest in platforms that expand access to private-market strategies. Asset managers are pursuing individual investors and smaller wealth-management clients for private market investments, which have traditionally been limited to institutional investors due to the illiquid and high-risk nature of such assets. BlackRock, who is an investor in as well as a client of iCapital, last month unveiled plans to include private assets in its retirement plans, which account for more than half of the money the company manages. While some analysts argue regulatory friction might complicate such efforts from asset managers, iCapital CEO Lawrence Calcano does not see such headwinds yet. "If people remain focused on education and client outcomes, regulation is typically about protecting investors," Calcano told Reuters in an interview. The round was led by asset manager T. Rowe Price and hedge fund SurgoCap Partners. The funding comes over three years after an Apollo-backed round valued the New York-based company at over $6 billion. Alternative asset giant Blackstone is also an investor in iCapital. Founded in 2013, iCapital has completed 23 strategic acquisitions, including the purchase of the wealth alternatives unit of Citigroup in May, a deal that Calcano says will "help clients unify their investment platforms so they have one overall platform to drive the business" . The company assists investment professionals with asset administration, analytics, and educational tools, simplifying alternative asset management. "Going public or not going public is not really something that occupies a great deal of space in my head," Calcano said referring to iCapital's plans for a future listing. iCapital currently services $945 billion in assets on its platform, with $257 billion of those in alternative platform assets.
Finextra
10-07-2025
- Business
- Finextra
Alternative investment platform iCapital raises $820m
Alternative investment platform iCapital has raised over $820 million at a valuation of more than $7.5 billion. 0 The round co-led by new investors T Rowe Price and SurgoCap Partners with additional participation from State Street, and increased commitments from existing backers Temasek, UBS, and BNY. Founded in 2013, iCapital's technology is used by wealth managers to learn, manage, and invest in private markets, structured investments, and annuities alongside traditional holdings through an interface that unifies onboarding, document workflows, performance data, and regulatory compliance. For asset managers, the firm provides end-to-end enterprise solutions, a digital marketplace, tailored distribution capabilities within the wealth management channel, data management, AI-powered services and tools, and sales distribution support and reporting. It now supports over 750 product providers and more than 3000 wealth management firms worldwide and has seen $945 billion of assets serviced globally on its platform. The new funding will be used for a global acquisition strategy, geographic expansion, and technology innovation. Lawrence Calcano, CEO, iCapital, says: "As demand for alternatives, structured investments, and annuities accelerates, we remain committed to delivering scalable solutions that empower advisors, fund managers, and other infrastructure providers within the ecosystem with the technology, data, and insights they need to personalize their business and deliver exceptional service to their clients and stakeholders."
Business Wire
10-07-2025
- Business
- Business Wire
iCapital ® Completes Over $820 Million Capital Raise, Valuation Surpasses $7.5 Billion
NEW YORK--(BUSINESS WIRE)-- iCapital 1, the global fintech company shaping the future of investing, today announced it has raised over $820 million with the completion of its latest financing round co-led and funded by accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc. ('T. Rowe Price') and SurgoCap Partners, bringing the company's valuation to over $7.5 billion. With $945 billion of assets serviced globally on its platform, including $257 billion in alternative platform assets, $203 billion in structured investments and annuities outstanding, and $485 billion in client assets reported on, iCapital continues to transform the wealth and asset management landscape through technology, data infrastructure, and end-to-end enterprise solutions that power investing at scale. 'This capital raise reflects our investors' enthusiasm for the opportunity we have to transform the investing experience. More importantly, it enables us to accelerate the work that matters most – delivering differentiated value to our clients,' said Lawrence Calcano, Chairman and CEO of iCapital. 'They are the cornerstone of everything we do, and this funding ensures we stay ahead of their needs, today and into the future. As demand for alternatives, structured investments, and annuities accelerates, we remain committed to delivering scalable solutions that empower advisors, fund managers, and other infrastructure providers within the ecosystem with the technology, data, and insights they need to personalize their business and deliver exceptional service to their clients and stakeholders.' Fueling Global Growth and Innovation The capital will be used to support strategic acquisitions that improve the advisor and client experience, empower asset managers to expand their reach and attract a broader range of investors, and create opportunities to reduce friction in the ecosystem for all participants. As the only integrated platform for alternatives, structured investments, and annuities, iCapital delivers a complete portfolio of management capabilities for education, transactions, data flows, analytics, and client support throughout the investment lifecycle. The integration of iCapital's technology on both a modular and comprehensive basis simplifies the portfolio investment experience for clients globally and engineers better connectivity and automation for all participants in the ecosystem. Accelerating a $20 Trillion Market Opportunity According to BlackRock's 2025 Private Markets Outlook, the wealth channel is expected to significantly increase allocations to private markets – to an estimated $20 trillion by 2030 and beyond – underscoring the need for modern infrastructure to support this growth. iCapital's technology enables wealth managers to learn, manage, and invest in private markets, structured investments, and annuities alongside traditional holdings through a seamless interface that unifies onboarding, document workflows, performance data, and regulatory compliance. For asset managers, iCapital provides end-to-end enterprise solutions, a digital marketplace, tailored distribution capabilities within the wealth management channel, data management, AI-powered services and tools, and sales distribution support and reporting. 'iCapital has built a platform that has not only become foundational to private markets investing, but it is also setting the standard for operational excellence in the industry,' said David DiPietro, head of Private Equity at T. Rowe Price. 'Their ability to combine advanced technology with a deep understanding of advisor and asset manager needs makes them a uniquely valuable partner to their clients.' Proven Momentum and Market Validation Since its inception in 2013, iCapital has invested more than $700 million into its platform and continues to invest in its technology and education capabilities across geographies to bring its solutions and tools to wealth managers, asset managers, and banks globally. The company has completed 23 strategic acquisitions including recent transactions with Mirador, AltExchange, and Parallel Markets and doubled its employee base in recent years to 1,875 across 16 global offices. iCapital has achieved consistent operating profitability, with rapid year-over-year growth in transaction volume, client adoption, and platform usage. Today, it supports over 750 product providers and more than 3,000 wealth management firms worldwide. Over the last 12 months, global volume activity on platform has increased significantly, the number of funds on platform has grown to 2,100, and the number of active financial professional users has increased to 114,000. 'The proceeds from this capital raise will be strategically deployed to accelerate our acquisition efforts, with a focus on enhancing our technology platform and expanding our data capabilities,' said Michael Kushner, Chief Financial Officer at iCapital. 'These investments will enable us to deliver even greater value to our clients by deepening innovation across our product offerings, strengthening our presence in key markets, and advancing the tools and solutions we provide to wealth and asset managers globally.' Goldman Sachs & Co. LLC served as financial advisor and placement agent, and Ropes & Gray LLP acted as legal advisors to the transaction. Terms of the capital raise were not disclosed. About iCapital iCapital is a global leader, shaping the future of global investing for financial advisors, wealth managers, asset managers, and other industry participants. iCapital offers a diverse and complete range of non-traditional investment products on iCapital Marketplace, Enterprise Solutions, and both Technology and Data Services, designed to help drive better outcomes 2 for all participants in the ecosystem. With strategic investment from leading alternative asset managers, wealth managers, and service providers globally, iCapital provides unrivaled access, data connectivity, education, and research programs to advisors and their clients. Leveraging AI and machine learning for digital identity (KYC/AML), iCapital supports compliant and secure investment lifecycle processes. iCapital's end-to-end platform manages the lifecycle of non-traditional investment products, making it easier to learn about, buy, manage, and integrate alternative assets, structured investments, and annuities into portfolios, driving growth, scale, and efficiency. Our solution(s) can be customized and offers specific modules as needed. iCapital has $945 3 billion of assets serviced globally on its platform, including $257 billion in alternative platform assets, $203 billion in structured investments and annuities outstanding, and $485 billion in client assets reported on, and serves over 3,000 wealth management firms and 114,000 active financial professionals. Headquartered in New York, iCapital operates globally with 16 offices, including major hubs in Zurich, London, Hong Kong, Singapore, Tokyo, and Toronto, and an industry-leading R&D center in Lisbon. iCapital is recognized for its innovation and leadership, with accolades from Euromoney (World's Best Technology Provider for Wealth Management), CNBC (World's Top Fintech Companies), and Forbes Fintech 50. For more information, visit | X (Twitter): @icapitalnetwork | LinkedIn: This material has been provided to you for informational purposes only by iCapital, Inc. and/or one of its affiliates including Institutional Capital Network, Inc. (collectively, 'iCapital'). This material is the property of iCapital and may not be shared without its written permission. No part of this material may be reproduced in any form or referred to in any other publication without express written permission of iCapital. This is not intended as and may not be relied on in any manner as, legal, tax or investment advice, a recommendation to employ a specific investment strategy, or as an offer to sell, a solicitation of an offer to purchase, or a recommendation of any interest in any fund or security. Security products and services are offered through iCapital Markets LLC, a registered broker/dealer, member FINRA and SIPC. Financial products made available by iCapital Markets LLC may be complex and/or speculative and are not suitable for all investors. iCapital Advisors, LLC is an investment adviser registered with the Securities and Exchange Commission and acts as an adviser to certain privately offered investment funds. 'iCapital' and 'iCapital Network' are registered trademarks of Institutional Capital Network, Inc. © 2025 Institutional Capital Network, Inc. All Rights Reserved. ____________________ 1 iCapital, Inc. and its affiliates (together, 'iCapital') 2 iCapital delivers better outcomes by streamlining financial operations, enhancing technology infrastructure, and empowering smarter decision-making through reporting and analytics. 3 As of June 30, 2025 Expand
