iCapital® Will Acquire Citi Wealth’s Alternative Investments Feeder Platform and Will Also Provide an End-to-End Technology Solution for All Alternative Investment Structures

iCapital will also assist with global sales and service enablement through a team dedicated to Citi Wealth to support the growth of Citi’s alternatives program

iCapital¹, the global fintech platform transforming the world’s investment industry for better outcomes, and Citi today announced that iCapital is acquiring from Citi one of its indirect subsidiaries, Citi Global Alternatives, LLC (“Citi Global Alternatives”), the advisor to Citi Wealth’s global alternative investment fund platform. This platform represents more than 180 alternatives funds distributed globally. It comprises investment vehicles across a diverse range of alternative investment strategies and asset classes, including private equity, growth equity, private credit, infrastructure, venture capital, real estate and hedge funds.

"We are excited to partner with Citi Wealth to drive growth for their alternatives business globally. iCapital’s technology platform will streamline the operations and management of their current and future alternative investment funds platform," said Lawrence Calcano, Chairman and CEO of iCapital. "Additionally, we will enhance Citi Wealth's global sales capabilities with a dedicated alternative investment specialist team, equipping advisors with more resources focused on pre-sale, sale and post sales investment activities. The team will cover all asset classes and product structures, working in close partnership with Citi and general partners to support alts platform growth.”

“Citi Wealth already has a strong working relationship with iCapital on alternative solutions, and we’re excited to expand our relationship to bring greater integration of iCapital’s market-leading digital capabilities to our advisors, bankers, investment counselors and clients,” said Daniel O’Donnell, Head of Citi Wealth Alternatives and Investment Manager Solutions.

Having completed many fund platform acquisitions with leading financial institutions, iCapital is uniquely qualified to consolidate fund platforms of all types and sizes, unlocking operational efficiency, and providing a unified technology solution for our partners. With this transaction, iCapital will manage and operate the fund platform, while Citi remains the distributor of such funds and will continue offering guidance to its clients on the role of alternative investments within a diversified investment strategy.

Terms of the purchase agreement were not disclosed.

About iCapital

iCapital is a global leader, shaping the future of private markets’ investing for financial advisors, wealth managers, asset managers, and other industry participants. iCapital offers a diverse and complete range of non-traditional investment products on iCapital Marketplace, Enterprise solutions, and both Technology and Data Services, driving better outcomes for all participants in the ecosystem.

Backed by the leading alternative asset managers and wealth managers globally, iCapital provides unrivaled access, data connectivity, education, and research programs to advisors and their clients. Leveraging AI and machine learning for digital identity (KYC/AML), iCapital supports compliant and secure investment lifecycle processes.

iCapital's end-to-end platform manages the lifecycle of non-traditional investment products, making it easier to learn about, buy, manage, and integrate alternative assets, structured investments (SI) and annuities into portfolios, driving, scale and efficiency. Our solution(s) can be customized and offers specific modules as needed.

iCapital streamlines private market investing with over $880 billion in platform assets including $220 billion in alternatives, almost $200 billion in SI and annuities, and almost $480 billion in data assets reported on, and serving over 2,900 wealth management firms and 108,000 active financial professionals².

Headquartered in New York, iCapital operates globally with 16 offices, including major hubs in Zurich, London, Hong Kong, Singapore, Tokyo, and Toronto, and an industry-leading R&D center in Lisbon. iCapital is recognized for its innovation and leadership, with accolades from Euromoney (World's Best Technology Provider for Wealth Management), CNBC (World Top Fintech Companies), and Forbes Fintech 50.

For more information, visit https://icapital.com | Twitter (X): @icapitalnetwork | LinkedIn: https://www.linkedin.com/company/icapital-network-inc

This material has been provided to you for informational purposes only by iCapital, Inc. and/or one of its affiliates including Institutional Capital Network, Inc. (collectively, “iCapital”). This material is the property of iCapital and may not be shared without its written permission. No part of this material may be reproduced in any form or referred to in any other publication without express written permission of iCapital. This is not intended as and may not be relied on in any manner as, legal, tax or investment advice, a recommendation to employ a specific investment strategy, or as an offer to sell, a solicitation of an offer to purchase, or a recommendation of any interest in any fund or security. Security products and services are offered through iCapital Markets LLC, a registered broker/dealer, member FINRA and SIPC. Financial products made available by iCapital Markets LLC may be complex and/or speculative and are not suitable for all investors. iCapital Advisors, LLC is an investment adviser registered with the Securities and Exchange Commission and acts as an adviser to certain privately offered investment funds. “iCapital” and “iCapital Network” are registered trademarks of Institutional Capital Network, Inc. © 2025 Institutional Capital Network, Inc. All Rights Reserved.

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¹ iCapital, Inc. and its affiliates (together, “iCapital”)

² As of March 31, 2025

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