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iCapital Buys Investment Education, Compliance Platform

Tom Burroughes, Group Editor , 25 January 2021

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The AI Insight platform offers advisors investment research, training, qualification, and compliance support for a range of alternative investments, including private capital, hedge funds, nontraded REITs and BDCs, and alternative mutual funds.

iCapital Network, the New York-based global tech platform for alternative investments and operating around the world, has agreed to buy assets of AI Insight, an alternative investment education and compliance platform aimed at advisors. 

The financial terms of the transaction were not disclosed. 

Sherri Cooke, AI Insight’s president and chief executive, and Jennifer Simon, its chief operating officer, and eight additional employees will join the iCapital team.

The AI Insight platform offers advisors investment research, training, qualification, and compliance support for a range of alternative investments, including private capital, hedge funds, nontraded REITs and BDCs, and alternative mutual funds.

“The growing interest in alternative investments and a regulatory environment expanding access to these opportunities are heightening the demand for in-depth and accessible education and compliance support,” Lawrence Calcano, chairman and CEO of iCapital Network, said. 

In September last year, iCapital said it was buying portfolio analytics tool, factorE, to evaluate and manage complex portfolios that hold a mix of traditional and alternative investments. iCapital has more than 340 employees and services more than $68 billion in global client assets for more than 125,000 underlying accounts.

The group, which is on an expansion drive, is building out a European presence. It plans to open new offices in Europe and Asia and has agreed to buy a 65-person tech team in Portugal, called Runtime Group. In October last year it appointed Marco Bizzozero as head of international business; he had previously worked as wealth management CEO for UniCredit, the Italian banking group. iCapital also named former Deutsche Bank figure Tom Slocock as managing director and head of international product development and origination.

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