iCapital acquires bank of Singapore's inhouse private market feeder fund platform

KUALA LUMPUR, March 4 (Bernama) -- iCapital, the leading global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, has announced that iCapital has acquired Bank of Singapore’s in-house private market feeder fund platform.

With the deal, iCapital takes over the management and operation of the bank’s private market feeder funds while Bank of Singapore retains client servicing responsibilities.

Following the close of the transaction, iCapital services approximately US$114 billion in global private assets, of which more than US$27 billion are from international investors (non-US Domestic), across more than 940 funds. (US$1 = RM4.190)

“We are excited to forge a deeper relationship with Bank of Singapore as we expand our offering to a growing base of clients and investors throughout Asia,” said Lawrence Calcano, Chairman and CEO of iCapital.

“Our team works tirelessly to evolve with the investor demands of the international marketplace and we are grateful for the support of Bank of Singapore as we work together to further our mission.”

“This transaction is the culmination of a highly collaborative relationship with iCapital,” said Leong Guan Lim, Global Head of Products at Bank of Singapore.

“By partnering with the iCapital team on the management of our private market feeder funds business, we can ensure that our relationship managers and their clients have access to the industry’s leading technology and education offerings within the private market investing space.”

According to a statement, the deal builds on a long-standing partnership between the two companies.

Bank of Singapore previously tapped iCapital to build out a technology and feeder fund solution to offer the bank’s advisers a seamless, intuitive platform for selecting private market investments for inclusion in client portfolios including private equity, private credit, and real assets.

As part of the transaction, the bank’s wealth managers also gain access to AltsEdge, the comprehensive educational platform sponsored by the iCapital Foundation and CAIA, designed to help wealth managers better understand alternative investments and how they can leverage them to improve client outcomes.

The transaction with Bank of Singapore was completed on Feb 28, 2022.

For more information, visit www.icapitalnetwork.com.

-- BERNAMA