The Future Of Wall Street: Fintech 50 2019
The AltsTech Forum will be running simultaneously but separately with the traditional product presentation sessions. Creating dialogue with industry peers and advancing the discussion to find solutions is the purpose of the Forum. As a part of the transaction, Wells Fargo is making a strategic investment in iCapital under the terms of iCapital’s latest fundraising round. “As a client of iCapital, we’ve had a mutually beneficial relationship from the start,” continued Mr. Pfister. “We are excited for AlphaCore’s next chapter with this remarkable team on board.” PJT Partners LP acted as financial advisor and placement agent with respect to the transaction. As an important part of this capital raise, BlackRock, a long-standing strategic partner of iCapital, will take a significant minority stake in the independent company.
Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers, and banks. The firm’s flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. As of April 30, 2020, XCritical services more than $51 billion in client assets across more than 100,000 underlying accounts. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers and banks.
XCritical® Recognized As Top Fintech Firm By Forbes For Third Consecutive Year (feb
It is designed to overcome many of the long-standing challenges of investing in alternatives by using technology to streamline access, ease operational burdens, and improve the user experience, enabling iCapital’s partners to provide the highest level of service to their clients. XCritical is a powerful financial technology platform that provides modular alternative investment solutions for registered investment advisors, broker-dealers, private banks, family offices and other sophisticated investors. The state-of-the-art online portal offers a curated selection of private equity funds and hedge funds, extensive due diligence support, an automated subscription process and integration with a wide range of custodial platforms and reporting packages. The firm’s customizable technology and specialized suite of services is also used by asset managers and financial institutions to streamline and automate their private fund operations. XCritical, Inc. offers a financial technology platform for alternative investments. The Company, through its platform, provides high-net-worth investors and independent wealth advisors a curated menu of private equity and hedge funds with a full suite of due diligence and administrative support in a secure digital environment.
As an independent wealth advisor, it works directly with individual private clients as a fiduciary to customize financial plans and investment management solutions that include the use of alpha generators or alternative investments in most client portfolios. AlphaCore has an open architecture platform offering access to a variety of alternative strategies. XCritical, the tech-enabled platform to connect advisors to alternative investment managers, has agreed to acquire Artivest, the platform that connects investors to alternative investment opportunities.
While some wealthy individuals and families are most comfortable with traditional investment choices, others want to explore a more comprehensive range of opportunities and expect their financial advisors to be able to source and deliver on a wide range of strategies and exposures. Earlier this month, iCapital entered into an agreement to acquire a 65-person technology team from Portugal-based product development company, Runtime Group, Ltd. As part of Runtime, this team has provided dedicated support to iCapital’s technical development since 2014.
Under the agreement, these experts will join iCapital’s existing team of engineers, developers, and designers dedicated to the ongoing technological innovation of iCapital’s offerings. In addition to the investment, Ping An and other investors have said they either plan to partner with or have already partnered with iCapital to leverage its proprietary technology. The goal is to use the technology to help manage the end-to-end operations of their private market activities. $12.1 billion in organic platform growth as well as growth as a result of its strategic partnership acquisitions. Crowdfund Insider is the leading news and information web site covering the emerging global industry of disruptive finance including investment crowdfunding, Blockchain peer-to-peer / marketplace lending and other forms of Fintech. Tom Slocock is joining iCapital as Managing Director and Head of International Product Development & Origination, reporting to Bizzozero. Slocock will lead the development and launch of new investment products and manage the life cycle of existing offerings explicitly designed for the needs of the international marketplace.
Our thought leadership in investing, risk management, portfolio construction and trading solutions. “We are proud of the accomplishments of factorE and, in contemplating its future, carefully considered the ideal partner to build upon its success,” said Mr. Pfister. “XCritical has set the standard in automating the end-to-end alternative investing process for advisors, and their technological capabilities make them uniquely qualified to guide factorE forward in its next chapter.”
Its secure online portal makes it possible for top performing fund managers to aggregate commitments from a network of independent wealth advisors, family offices, and individual qualified purchasers. Developer of a financial technology platform designed to democratize alternative investments. The company’s online platform offers access to a wide amount of investments along with extensive due diligence support, enabling existing and new individual investors to enter the alternative investments marketplace. Following the crypto wallet close of this transaction, iCapital will service more than $55 billion in client assets across approximately 650 funds, 115,000 underlying accounts, and more than 70 white label partners. The acquisition will create further operational economies of scale in the offering and servicing of alternative investments and additional benefits for both Artivest and iCapital clients and partners. Premier clients include BlackRock, Blackstone, Carlyle Group, BNY Mellon, Hightower, United Capital and Dynasty Financial Partners.
XCriticalrelated Companies (
The firm’s flagship platform offers high-net-worth investors and independent wealth advisors a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. Banks and asset managers leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was included in the 2018 Forbes FinTech 50 and as of June 30, 2018, serviced more than $6 billion in invested capital across more than 14,000 underlying accounts. Asset managers and banks leverage iCapital’s tech-enabled services to streamline and scale their private investments’ operational infrastructure. Portfolio allocations to alternative investments such as private equity, private credit, hedge funds, and real estate among non-U.S.-based investors have grown significantly in recent years3 with projected global allocations growing by eight percent annually from .
Through his former role as a partner at Altegris, AlphaCore’s Founder and CEO, Dick Pfister, is well acquainted with the PCG team, having forged a strong relationship before Altegris merged with Artivest in 2018. When high-profile investors like Mohamed El-Erian are adopting a barbell-ed Trading Platform portfolio strategy that balances a large cash position with more speculative investments such as venture capital, it speaks volumes about the state of the public markets. Here are our Forbes Fintech 50 top picks in the world of investing, trading and wealth management.
The transitioning team will continue to support the fund portfolio to ensure continuity of service. As part of the same transaction to divest its right to acquire the PCG team, iCapital has taken ownership of factorE. General Partners can also leverage factorE’s capabilities to show how their strategy can complement the performance or risk characteristics of an overall portfolio.
xcritical official site is a financial technology company with the mission of making high-quality private investments widely accessible to advisors and their qualified clients, while enabling investment managers to access new sources of capital. XCritical, a fintech providing access to alternative investments, announced on Wednesday as part of the recent closing of its acquisition of Artivest, it had divested its right to acquire a private client team to AlphaCore Wealth Advisory. iCapital reported it also took ownership of factorE, a portfolio and analytics tool designed to help advisors assess and analyze the performance and risk of alternative investments in client portfolios, from AlphaCore. iCapital’s white-label technology will be leveraged to streamline and automate ongoing operations and fund administration services for Wells Fargo’s alternative investment feeder funds. It will also provide best-in-class support to Wells Fargo’s advisors and their high-net-worth client base. As part of the transaction, iCapital will offer employment to a team of Wells Fargo employees who currently support operations for the GAI Feeder Fund Platform.
XCritical Acquires Wells Fargo Alternative Investments Feeder Fund Platform
- The goal is to use the technology to help manage the end-to-end operations of their private market activities.
- While some wealthy individuals and families are most comfortable with traditional investment choices, others want to explore a more comprehensive range of opportunities and expect their financial advisors to be able to source and deliver on a wide range of strategies and exposures.
- In addition to the investment, Ping An and other investors have said they either plan to partner with or have already partnered with iCapital to leverage its proprietary technology.
- As part of Runtime, this team has provided dedicated support to iCapital’s technical development since 2014.
- Earlier this month, iCapital entered into an agreement to acquire a 65-person technology team from Portugal-based product development company, Runtime Group, Ltd.
- Under the agreement, these experts will join iCapital’s existing team of engineers, developers, and designers dedicated to the ongoing technological innovation of iCapital’s offerings.
He previously oversaw Deutsche Bank’s private fund product development, structuring, and investment specialist functions for wealth management clients worldwide. To drive the achievement of its mission, iCapital announced the addition of two accomplished leaders with expertise in supporting the global high-net-worth investing community. Each is uniquely qualified by their experience and relationships to support the firm’s commitment to being the global partner of choice for alternative investments technology solutions. As part of the same transaction, AlphaCore divested factorE, AlphaCore’s proprietary portfolio and risk analytics tool launched in 2018, to iCapital. The innovative tool helps advisors, chief investment officers and research analysts manage complex portfolios that hold a mix of traditional and alternative investments such as mutual funds, ETFs, stocks, commodities, private equity, private credit, hedge funds and real estate. /PRNewswire/ –AlphaCore Wealth Advisory, a leading wealth advisor firm focused on allocating to traditional and alternative investments, announced today it secured the rights to acquire the Private Client Group , a team directly serving high-net-worth clients, from https://xcritical.pro/1.
Artivest is transforming the way financial advisors and high net worth investors access, evaluate, and invest in private equity, real assets, and hedge funds. Our platform delivers a streamlined digital experience for investors to transact directly with a wide selection of high-quality private alternatives, at sensible minimums. Run by accomplished fintech and investment industry executives in New York and California, Artivest is privately held by its employees and outside investors including Aquiline Capital Partners, Genstar Capital, KKR, and Thiel Capital. XCritical is a financial technology platform that simplifies access to alternative investments, such as private equity and hedge funds, for high-net-worth investors and their advisors. In other words, the platform is designed to streamline access, ease operational burdens and improve the user experience. Its target users range from advisors seeking to incorporate alternative investments in their clients’ portfolios to asset managers looking to scale their fundraising efforts to wealth management firms seeking a technology platform to enhance or replace existing systems.
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. As of April 2020, iCapital has approximately $50B in platform assets and 230 employees. The demographics of wealth are changing reflecting how things are shifting in wealth creation and transition. The most basic wealth management decisions can generate entirely Cryptocurrency wallet new outcomes when they are made by people with different views on money, risk and philanthropy. Established by Ping An Group, the Ping An Global Voyager Fund is a Hong Kong-based investor in growth stage fintech and healthtech companies. PitchBook’s non-financial metrics help you gauge a company’s traction and growth using web presence and social reach. Founded by James Waldinger in 2011, Artivest had raised a total of $17M in total reported funding.
iCapital’s new international senior executive team will complement iCapital’s existing international leadership team of Vinod David Berchtold and Wes Sturdevant. Mr. Berchtold is Chief Operating Officer for the international business, based in Zurich. Prior to joining iCapital in 2018, he was most recently a senior manager at UBS Global Wealth Management within Distribution Management responsible for global revenue and business development and digital strategy focused on end-to-end sales management. Mr. Sturdevant is a Managing Director for International Enterprise Solutions, joining the firm in December 2017.
This funding will allow the Company to enhance its platform technology and expand functionality in support of its existing clients and continued growth, a diversified slate of investment offerings and a globalized investor base. In addition, the funding will support iCapital’s continued commitment to the international marketplace as it solidifies relationships with partners across North America, Asia, Europe and the Middle East.
We see enormous growth opportunities in the European and Asian markets and I very much look forward to joining the iCapital team and leading the firm’s global expansion,” said Bizzozero. “iCapital is committed to helping the wealth management industry understand the opportunities and complexities of alternative investments as part of a diversified portfolio,” said Mr. Calcano. “Our decision to continually build out our toolkit with technologies such as factorE is based on listening to our network of advisors and asset managers, and understanding what they need to be successful as they navigate the world of alternative investing.” In addition to the investment, Ping An and other investors have indicated their intent to, or have already partnered with iCapital to leverage its proprietary technology to help manage the end-to-end operations of their private market activities targeted to the high-net-worth wealth management marketplace. Today’s announcement further expands a consortium of some of the largest and most influential firms in the wealth and asset management industries aligned with iCapital’s development of an industry standard technology solution for alternative investments. We see enormous growth opportunities in the European and Asian markets and I very much look forward to joining the iCapital team and leading the firm’s global expansion,” said Mr. Bizzozero. xcritical is an online platform that enables qualified investors to search and analyze hundreds of private fund managers and gain direct access to buyout, growth equity, real estate, mezzanine, infrastructure, real assets, and venture funds.
Fintech Platform XCritical Divests Right To Acquire Private Client Group To Alphacore
Last month, iCapital announced its agreement to acquire the Artivest platform and operating businesses. Upon completion of both transactions, iCapital’s platform will service nearly USD58 billion in client assets across more than 720 funds, 120,000 underlying accounts, and more than 70 white label partners. AlphaCore Wealth Advisory, an SEC registered investment advisor, was founded just over five years ago and has been rapidly growing.
“Given our shared mission to facilitate meaningful alternative investing opportunities across the wealth and asset management spectrum, this acquisition was compelling for a number of reasons,” said Lawrence Calcano, Chairman and Chief Executive Officer of XCritical. Wells Fargo’s alternative investment feeder fund platform supports a full suite of alternative solutions, including private equity, private debt, hedge funds, private real estate and direct private investments across approximately 70 investment vehicles.
If you continue to use this site we will assume that you are happy with it and agree to our terms of service. iCapital noted it plans to evaluate how the factorE tool best fits into iCapital’s existing technology and service offerings. It will build out a tailored roadmap for the tool’s augmentation and integration into the firm’s advisor resources over the next several months. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.