iCapital Acquires Fintech Provider Mirador
iCapital, a global fintech platform operating in the alternative asset space for the wealth management industry, has acquired Mirador, a tech-enabled provider of investment data aggregation and financial reporting for alternative and traditional investments.
Financial terms of the deal were not disclosed.
With the acquisition, iCapital will expand its data management and reporting capabilities.
“Together, this combined entity will optimize the ways in which the asset management industry can tap into growing HNWI appetite for various alternative investments and provide wealth managers with easier access to alternative investments,” a spokesperson told Connect Money.
Mirador provides consolidated financial reporting, private investment support, offline and alternative investment data management, K-1 document management, and compensation management to wealth management organizations. The firm’s clients include high-net-worth investors, family offices, endowments and foundations.
“Mirador has set the industry standard for managing data with leading third-party performance reporting providers,” said Lawrence Calcano, Chairman and CEO of iCapital. “This acquisition further enhances and broadens the service model iCapital delivers through our market-leading alternative investment operating system and allows us to deliver on our goal of creating a reliable end-to-end data management capability for the industry.”
As part of the transaction, over 180 employees of Stamford, CT-based Mirador are expected to join iCapital.
iCapital’s platform, analytic tools, and advisor education resources enable wealth managers and fund managers to streamline their operational infrastructures to provide advisors and high-net-worth investors with a digital investing experience across a broad spectrum of alternative investments – including private equity, private credit, real assets, hedge funds, registered funds, structured investments, and annuities.
Today, iCapital services more than $180 billion in global platform assets and employs more than 1,200 people globally.
Last month, iCapital introduced a new portfolio construction tool, Architect, for its 350,000 advisors who utilize the iCapital Marketplace platform. In January, the firm partnered with Morningstar to integrate its alternative investments and analytics services into the Advisor Workstation platform.