iCapital Network, an asset and wealth management platform acquires Artivest, an access and investing tech company
Fremont, CA: iCapital Network, a fintech platform devoted to alternative investments for the wealth and asset management industries, acquires Artivest, a technology company for accessing and investing in alternatives.
According to the terms and conditions of the agreements, iCapital will acquire the majority of Artivest’s assets, inclusive of all technology and its operating platform. It also includes the management of Artivest’s 28 proprietary alternate investment funds of massive quantities, multiple enterprise relationships, and its “open network” which offers a menu of alternative products and strategies to approximately 1,800 financial advisors and their high-net-worth investors. As part of the transaction, 28 Artivest team members are expected to join iCapital.
KKR will be converting its current holdings in Artivest into equity shares of iCapital, the company's latest funding round was led by Ping An Global Voyager Fund. This came with commitments from its strategic partners and investors: Affiliated Managers Group, Goldman Sachs, Hamilton Lane, WestCap, BNY Mellon, UBS Financial Services, Blackstone, and BlackRock. In addition to the existing strategic partners in iCapital include The Carlyle Group, Credit Suisse, JPMorgan Chase & Co, and Morgan Stanley Investment Management.
“Given our shared mission to facilitate meaningful alternative investment opportunities across the wealth and asset management spectrum, this acquisition was compelling for a number of reasons,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital Network. “We have long admired Artivest’s technical innovations and capabilities in registered funds and direct investments, and the strength of their team. The integration of these attributes with iCapital’s already robust platform and product offerings creates a powerful combination delivering a ‘best-in-breed’ technology experience while also presenting new platform partners and strategies to our respective clients.”
The legacy Altegris mutual fund business and the commodity pools will be managed by Artivest Holdings, and are not inclusive in the transaction carried out by iCapital. Altegris Advisors will oversee the existing portfolio management team and those related operational staff to guarantee the continuity, even post-transaction.
“We are pleased to reach an agreement with iCapital, which is well-positioned to deliver the quality and continuity of client experience that is central to Artivest’s offering,” said Martin Beaulieu, Chairman and Chief Executive Officer of Artivest. “We are confident that iCapital is the right service provider for our managers, advisors, and their clients.”
As the norms of the deal, 28 Artivest team members are expected to join iCapital. Following the deal closure, iCapital provide service for more than $55 billion in client assets across the globe to approximately 650 funds, 115,000 underlying accounts, and more than 70 white label partners.