iCapital looks to boost data management capabilities with AltExchange acquisition
Alternative investment fintech iCapital has entered into a definitive agreement to acquire AltExchange, a Colorado, US-based firm that leverages AI to enhance data aggregation, management, and reporting for financial advisors and asset managers. Financial details are undisclosed.
iCapital snaps up AltExchange for an undisclosed sum
Lawrence Calcano, chairman and CEO of iCapital, says the acquisition “complements the investments we are making in our internal R&D to further enhance our data management capabilities”.
AltExchange’s AdvisorVue platform enhances reporting for financial advisors by aggregating client portfolios and organising data and documentation, while its Digital Custodian Platform (DCP) automates investor reporting and standardises post-investment data.
AltExchange CEO Kareem Hamady, who is set to join iCapital as part of the acquisition, says that the company’s solution enables users to “manage, monitor, and report on alternative investments,” providing tools for alerts, document management, and optimising tax workflows.
The deal is the latest in a series of recent acquisitions by iCapital, which includes UBS Fund Advisor and Simon Markets in 2022 and the purchase of investment data enterprise Mirador earlier this year.
Founded in 2013, iCapital supports the investment sector with a comprehensive platform for managing data flows, transactions, analytics, and more. The company has a workforce of 1,675 employees across 17 global offices.
