Alternative investment fintech iCapital has signed a definitive agreement to acquire Mirador, an investment data firm headquartered in Stamford, USA, for an undisclosed sum.
Mirador offers services including consolidated financial reporting, private investment support, alternative investment data management, and K-1 document and compensation management.
The deal will also see over 180 of Mirador’s employees join iCapital upon closure of the acquisition.
iCapital says it expects its latest purchase to “expand its data management and reporting capabilities to create an enhanced technology experience”.
The fintech currently aims to democratise access to the alternative investments market for high-net-worth individuals, financial advisors, and institutions by delivering a platform of investment management tools and enterprise solutions built to help clients streamline and scale their alternative investments operational infrastructure.
It also provides education and analytics tools to help financial advisors better manage their client portfolios.
iCapital previously bolstered its fund management capabilities through the acquisition of UBS Fund Advisor in 2022. The firm also snapped up Simon Markets, a digital marketplace for risk-managed and alternative solutions, in the same year.
Lawrence Calcano, chairman and CEO of iCapital, explains that its latest acquisition “further enhances and broadens” the service model of its alternative investment operating system and “creates a holistic solution for both wealth and asset managers”.
Likewise, Joseph Larizza, CEO and president of Mirador, says combining the two companies and their respective technologies will result in the ability to “offer clients of both firms a robust suite of enhanced resources”.
Further terms of the agreement, including when it’s set to close, have not been disclosed.
Source: fintechfutures.com
