Citigroup has arrived into a contract for conveying the administration and operation of its wealth alternative platform to iCapital. This move has taken place in the perspective of the bank’s exertions to rationalise its processes. The Citi global alternatives mainly comprises 180 investment funds that span the hedge funds, private equity, private credit, and infrastructure. Although the operations of the units will now be overseen by iCapital and Citi will be continuously distributing their funds and will provide advisory services regarding the alternative investment strategies. To get more information, continue reading this article.
iCapital Agreed to Acquisition of Citi Global Alternatives
iCapital is the global leader that is working towards shaping the future of private markets investing for the wealth managers, financial advisors, asset managers, and other participants of the industry. It offers a diverse range of nontraditional investment products on the Enterprise solutions, iCapital Marketplace, and for both data services and technology services that help in driving better outputs for all the members in the ecosystem.
Backed by the leading alternatives wealth managers and asset managers on a global level, iCapital helps in providing unrivalled access, education, data connectivity, and a research program to the clients and the advisors. Leveraging the advanced technology, the organization supports the complaints and also helps in safeguarding the investment lifecycle procedures.
The end-to-end platform of iCapital manages the lifecycle of the non-traditional investment products, making it easy to gain knowledge regarding the buy and integrate the alternative assets, the planned investment, and the annuities in the portfolios, driving scale and efficacy. The organization modernizes the private market investing with the $880 billion in the platform assets that involves $220 billion in the alternatives and almost $200 billion in annuities and SI and around $480 billion in the data assets that is reported on and it is also serving the 2,900 wealth management firms and over 10800 active financial experts.
iCapital deepens Citi Wealth partnership with the major alternative’s platform acquisition
iCapital has affirmed the procurement of the Citi Global Alternatives, which is an unintended subsidiary of Citi and the adviser to the Citi Wealth global alternative asset platforms. The platforms include 180 funds that cover a extensive range of asset classes, like growth equity, private equity, arrangement, real estate, and venture capital.
The chairman of iCapital and Chief Executive Officer, Lawrence Calcano, said that they are excited to partner with Citi Wealth to drive the growth of the alternative business on a global level. The technology platform of the organization will be streamlining the management and the operations of their future and current alternative investment funds platforms. The team will insurance all the invention structure and asset classes and is functioning in close partnership with Citi and the common partners that will sustenance the alts platform growth.
The heads of Citi Wealth have said that Citi Wealth already has a robust occupied relationship with iCapital on another solutions, and they are excited to enlarge their association to bring the better integration of market-leading digital competences of iCapital to their bankers, advisors, asset counsellors, and users. iCapital has declared in January that they will enter into the conclusive contract to acquire the reusable financial identity provider, Parallel Markets. The organization said it will enable the business to streamline the digital identity and the compliance verification.
The parallel markets is a software that supports the reusable investor passport and streamlines the process for the fund managers and the investors. In October, the organization announced that they are entering into the definitive contract to acquire the AltExchange, which is an AI-driven technology. The AltExchange has been developed as an advanced retrieval solution that is linked to the routing technology, sophisticated mapping, and LLM-based document extraction. This attainment will complement the investments that will further help in enhancing the data management capabilities.
iCapital to support the sales strategy of Citi
iCapital will accept the responsibility for handling the operation and technology infrastructure supporting the alternative investment offerings of Citi. The agents from the iCapital cited by Yahoo have indicated that the platform of the organization will be facilitating more effective handling of both future and current alternative funds. In addition to this, iCapital also plans to support the global sales network of Citi by developing a dedicated team that aims to improve the reach of the bank in another space.
The transaction is also allied with the recent restructuring efforts of Citi, especially as the bank has reorganized its wealth management division as part of the ongoing effort that helps in reducing the difficulty crosswise the business lines. The officials from the Citi have described the reorganization as a step towards enhancing the operational focus.
Other developments from Citi
In May 2025, Citi revealed its purpose to act as the overseer agent on the SDX digital asset platform. The move mainly aims to enhance the entrance to the private market assets. The project has been planned for launch in 2025, and it was revealed during the Point Zero Forum in Switzerland. As part of the ingenuity, Citi has agreed to settle and protect the late-stage equities by using the SDX’s regulated digital CSD platform. These shares will be available to eligible investors to achieve adequate participation in the private markets.
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