iCapital® Completes Acquisition of SIMON Markets

Marks a major milestone in the creation of the most comprehensive alternative investment marketplace for advisors by adding access to structured investments, annuities, and risk-managed solutions

iCapital¹, the leading global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, today announced it has completed the acquisition of SIMON Markets. The transaction meaningfully broadens iCapital’s investment menu, technical capabilities, education offerings and support services for advisors and their clients.

Through this acquisition, iCapital will create a single source of alternative investment strategies from nearly 300 asset managers and product manufacturers, adding SIMON’s structured investments, annuities, digital assets and risk-managed products offerings to iCapital’s extensive menu of private offerings including equity, credit, real estate, infrastructure, direct deals, hedge funds, and other alternative strategies. The combination creates a powerful technology solution for the wealth management industry with on-demand education, an intuitive marketplace, real-time analytics, and lifecycle management of alternative investments. The integrated platform will also include tools for compliance, alternative allocation analytics and portfolio construction to support advisors in their efforts to optimize client portfolios.

“As advisors seek access to non-traditional investment structures to help clients meet long-term financial objectives, they can be best supported by a full-service platform offering a comprehensive set of strategies and tools to meet their needs,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital. “Incorporating SIMON’s tremendous capabilities into our already robust offering is further demonstration of our commitment to provide the wealth management industry with an unparalleled alternative investing experience.”

Jason Broder, former Chief Executive Officer of SIMON, has joined iCapital as Managing Director, Head of iCapital Solutions. In this role, Jason will lead market development and sales of iCapital’s full suite of technology offerings. Additionally, nearly 200 SIMON team members have joined iCapital to ensure the continuity of quality support for clients.

Terms of the transaction were not disclosed.

Morgan Stanley & Co. LLC and UBS Investment Bank served as financial advisors to iCapital. Goldman Sachs & Co. LLC served as the exclusive financial advisor to SIMON.

About iCapital

Founded in 2013 in NYC, iCapital is the leading global fintech company powering the world’s alternative investment marketplace. It has transformed the way the wealth management, banking, and asset management industries facilitate access to private markets investments for their high-net-worth clients by providing intuitive, end-to-end technology and service solutions. Wealth management firms use iCapital’s solutions to provide clients with quality funds at lower minimums and simplified digital workflows. Asset managers, RIAs and banks leverage iCapital’s technology to streamline and scale their alternative investments operational infrastructure. Additionally, the iCapital ‘flagship’ platform offers wealth advisors and their high-net-worth clients access to a curated menu of private equity, private credit, hedge funds, structured investments, and other alternatives to help meet their investing needs for return and diversification. iCapital’s research and diligence team offers robust analysis alongside the firm’s extensive suite of advisor education, compliance, portfolio management, and portfolio analytics tools and services. iCapital has been recognized on the Forbes FinTech 50 list in each year 2018 through 2022, the Forbes America’s Best Startup Employers in 2021 and 2022, and MMI/Barron’s Industry Awards as Solutions Provider of the Year in 2020 and 2021. As of June 30, 2022, iCapital services more than US$134 billion in global client assets, of which more than US$30 billion are from international investors (non-US Domestic), across 1,065 funds. Employing more than 800 people globally, iCapital is headquartered in NYC and has offices worldwide including in Zurich, London, Lisbon, Hong Kong, Singapore, and Toronto.

For additional information, please visit the iCapital website at www.icapitalnetwork.com | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Twitter: @icapitalnetwork

See disclosures here.

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

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