Citigroup Sells Indirect Subsidiary Citi Global Alternatives Representing 180 Alternative Funds Globally to Private Markets Fintech iCapital, Citi Global Alternatives Provides Advisory to Citi Wealth Global Alternative Investment Fund Platform, Post-Transaction – iCapital Will Manage & Operate the Fund Platform and Citi Will Remain as Distributor of Alternative Funds to Clients
14th May 2025 | Hong Kong
Citigroup has announced to sell indirect subsidiary Citi Global Alternatives representing more than 180 alternative funds globally to private markets fintech iCapital. Citi Global Alternatives provides advisory to Citi Wealth global alternative investment fund platform. Post-Transaction – iCapital will manage & operate the fund platform and Citi will remain as distributor of alternative funds to clients. Announcement (13/5/25): “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 … … 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.”
“ Citigroup Sells Indirect Subsidiary Citi Global Alternatives Representing 180 Alternative Funds Globally to Private Markets Fintech iCapital, Citi Global Alternatives Provides Advisory to Citi Wealth Global Alternative Investment Fund Platform, Post-Transaction – iCapital Will Manage & Operate the Fund Platform and Citi Will Remain as Distributor of Alternative Funds to Clients “
Lawrence Calcano, Chairman & CEO of iCapital: “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. 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.”
Daniel O’Donnell, Head of Citi Wealth Alternatives & Investment Manager Solutions: “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.”
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 professionals. 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.
Citigroup Sells Indirect Subsidiary Citi Global Alternatives Representing 180 Alternative Funds Globally to Private Markets Fintech iCapital, Citi Global Alternatives Provides Advisory to Citi Wealth Global Alternative Investment Fund Platform, Post-Transaction – iCapital Will Manage & Operate the Fund Platform and Citi Will Remain as Distributor of Alternative Funds to Clients
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