Citi to sell wealth alternatives unit to fintech firm iCapital

Citi to sell wealth alternatives unit to fintech firm iCapital

Wall Street heavyweight Citigroup has agreed to sell its wealth alternatives unit to fintech firm iCapital, the companies announced on Tuesday, as the bank pursues simplifying its business.The unit, Citi Global Alternatives, represents more than 180 funds distributed by the bank across asset classes including

Citi Agrees to Sell Wealth Alternatives Platform to iCapital

Citigroup Inc. agreed to sell a unit that advises its global alternative investment fund platform, which represents more than 180 funds, to technology provider iCapital.

iCapital Picks Up Citi Wealth’s Alternatives Platform

Fintech heavyweight iCapital has struck a deal with Citi that promises to shake up how private-market products reach wealthy investors – yet the finer points of the pact remain closely held for now. US-based iCapital will acquire Citi Global Alternatives, the feeder-fund advisor behind Citi Wealth’s worldwide roster of more than 180 alternative-investment vehicles spanning private equity, credit, real assets and hedge funds. The business will si…

ICapital to Acquire Citi Global Alternatives and Collaborate With Citi Wealth

Global FinTech platform iCapital said Tuesday (May 13) that it will acquire Citi’s indirect subsidiary, Citi Global Alternatives. Citi Global Alternatives is the adviser to Citi Wealth’s global alternative investment fund platform, iCapital said in a Tuesday press release. When the transaction is completed, iCapital will manage and operate the fund platform, while Citi will continue to distribute the funds and offer guidance to its clients, acco…

The management of five ETFs has been transferred to this company, and through it, it will further focus on the development of that part of the business.

iCapital deepens Citi Wealth partnership with major alternatives platform acquisition

iCapital has announced the acquisition of Citi Global Alternatives, LLC, an indirect subsidiary of Citi and the adviser to Citi Wealth’s global alternative investment platform.