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iCapital Network purchases HedgeFocus business from Credit Suisse

BBR Staff Writer Published 22 March 2016

iCapital Network, a financial technology platform which offers simplified access to alternative investments, has acquired the HedgeFocus business from Credit Suisse.

The HedgeFocus portfolio features over 20 hedge fund access vehicles representing nearly $1.8bn in assets in a combination of event driven, multi-strategy, directional, relative value and tactical strategies run by several managers.

The Hedge fund feeder portfolio expands iCapital's offering to independent wealth advisors and increases platform assets to over $2bn.

iCapital said it will be responsible for the ongoing administration and servicing of the investments for all the current investors.

It will market, administer and serve new investors subscribing via iCapital.

iCapital Network managing partner Lawrence Calcano said: "This acquisition is a natural extension of our business strategy, helping us expand our footprint in ways that align with the critical investment priorities of the high-net-worth community for access, choice and transparency."

iCapital provides a curated selection of alternative investments such as private equity, credit, real estate, venture capital and hedge funds, to its private network of registered investment advisors, broker-dealers, family offices and individual high-net-worth investors.

The iCapital platform is built on a technology that allows electronic fund subscriptions and redemptions.

It automates capital confirmations, fund statements, tax reporting and investor reporting to provide the consummate investor relations experience supported by personalized and professional support.