The acquisition enhances iCapital's operating system and data management capabilities and expands its solutions for the wealth management industry.
iCapital1, the global fintech platform driving the world's alternative investment marketplace for the wealth management industry, and Mirador, a leading technology-enabled provider of investment data aggregation and financial reporting across both alternative and traditional investments, today announced they have entered into a definitive agreement under which iCapital will acquire Mirador. With the acquisition, iCapital will expand its data management and reporting capabilities to create an enhanced technology experience for clients in the wealth management, family office, endowment, and foundation segments.
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"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."
Mr. Calcano further commented, "Integrating Mirador's exceptional financial reporting capabilities creates a holistic solution for both wealth and asset managers."
Mirador delivers an array of services for its client base, including advisors serving high-net-worth investors, family offices, endowments, and foundations. Mirador's offerings include consolidated financial reporting, private investment support, offline and alternative investment data management, K-1 document management, and compensation management for wealth management firms. Mirador also has a technology consulting team offering custom wealth technology solutions.
"Mirador and iCapital share a commitment to provide the wealth management community with easier access to alternative investments. By combining Mirador's data aggregation, comprehensive reporting capabilities, and customizable service model with iCapital's scale, global reach, and industry-leading technology solutions, we will offer clients of both firms a robust suite of enhanced resources," said Joseph Larizza,CEO and President of Mirador. "Together, we meet clients precisely where they are and provide an experience without rival when integrating alternatives into investment portfolios."
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.
As part of the transaction, over 180 employees of Mirador are expected to join iCapital. Terms of the agreement were not disclosed.
Morgan Stanley Co. LLC and Goodwin Proctor LLP are serving as advisors to iCapital. Raymond James and DBM Legal Services LLC are serving as advisors to Mirador.
About iCapital
iCapital powers the world's alternative investment marketplace offering a complete suite of tools, end-to-end enterprise solutions, data management and distribution capabilities and an innovative operating system. iCapital is the trusted technology partner to independent financial advisors, wealth managers, and asset managers, offering unrivaled access, technology, and education to incorporate alternative assets into the core portfolio strategies for their clients.
At the forefront of the digital transformation in alternative investing, iCapital's secure platform delivers a complete portfolio of management capabilities for education, transactions, data flows, analytics, and client support throughout the investment lifecycle. With $180.92 billion in global platform assets, the iCapital operating system automates and streamlines the complex process of private market investing and seamlessly integrates with clients' existing infrastructure platform and tools.
iCapital employs more than 1200 people globally, and has 13 offices worldwide including New York, Greenwich, Zurich, Lisbon, London, Hong Kong, Singapore, Tokyo, and Toronto. iCapital has consistently been recognized for its outstanding innovation, fintech industry leadership, and performance including Forbes Fintech 50 for 2018, 2019, 2020, 2021, 2022, 2023, and 2024 and MMI/Barron's Industry Awards as Solutions Provider of the Year for 2020, 2021, 2022, and 2023.
For more information, visit icapital.com Twitter (X): @icapitalnetwork LinkedIn: https://www.linkedin.com/company/icapital-network-inc/
About Mirador, Inc.
Grounded in Wall Street and enabled by technology, Mirador combines powerful data science and deep financial expertise to provide best-in-breed financial reporting services, middle office services, and technology solutions and products to the U/HNW wealth management industry. Through partnerships with leading technology platforms, Mirador's flagship award-winning consolidated reporting creates insightful, consolidated, real-time views of all assets and liabilities what they are, who holds them, how ownership is divided, how they're invested, and how they're performing strategically constructed to identify opportunities and expose financial risks.
Founded in 2015, the firm employs over 180 professionals working from offices in Stamford, CT (HQ), Chicago, IL, Jacksonville, FL, Salt Lake City, UT, Edinburgh, Scotland and London, England, and supports the performance reporting requirements of family offices, wealth managers, endowments, and foundations throughout North America, South America, EMEA, and Asia Pacific.
For more information on Mirador, please visit www.Mirador.com.
iCapital Disclosures
This material has been provided to you for informational purposes only by iCapital, Inc. and/or one of its affiliates including Institutional Capital Network, Inc. (collectively, "iCapital"). This material is the property of iCapital and may not be shared without its written permission. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of iCapital. "iCapital" and "iCapital Network" are registered trademarks of Institutional Capital Network, Inc.
2024 Institutional Capital Network, Inc. All Rights Reserved.
1 iCapital, Inc. together with its affiliates, "iCapital"
2 As of February 29, 2024
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Contacts:
iCapital Media Contact
Tel. +1 919 602-2806
iCapital@neibartgroup.com
