iCapital Picks Up Citi Wealth’s Alternatives Platform
Fintech heavyweight iCapital has struck a deal with Citi that promises to shake up how private-market products reach wealthy investors – yet the finer points of the pact remain closely held for now.
US-based iCapital will acquire Citi Global Alternatives, the feeder-fund advisor behind Citi Wealth’s worldwide roster of more than 180 alternative-investment vehicles spanning private equity, credit, real assets and hedge funds.
The business will sit on iCapital’s end-to-end technology stack, giving Citi advisors a single digital gateway to diligence, subscribe to, and monitor non-traditional products for clients.
Streamlining a Global Alternatives Engine
Citi will remain the primary distributor, while iCapital supplies a dedicated team of product specialists to buttress pre- and post-sale support, aimed at accelerating the bank’s alternatives push without adding operational drag.
For iCapital, the carve-out extends a string of platform acquisitions with major institutions, further consolidating a market where scale and straight-through processing are fast becoming table stakes.
