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iCapital® announces acquisition of SIMON Markets

By Leandra Monteiro

May 30, 2022

  • Asset Management
  • FinTech
  • Fund Management
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iCapitaliCapital, a global FinTech platform, and SIMON Markets, a FinTech company announced they have entered into a definitive agreement under which iCapital will acquire SIMON. Joining these companies will meaningfully enhance the alternative investing experience for advisors and their clients.

“Today’s wealth management professionals seek a premium technology platform and access to a broader range of alternative investment strategies that provide thoughtful ways to diversify and potentially enhance long-term returns in client portfolios,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital.

“SIMON is a recognized leader in structured investments and annuities offering an exceptional user experience and a distribution network of impressive depth and breadth. We are thrilled to welcome the highly accomplished SIMON team to iCapital with whom we share a mission to expand access and efficiency of alternative investing across the industry. This acquisition provides our advisors with a much more robust platform and suite of tools to help them pursue successful investment outcomes for their clients.”

Under the agreement, Jason Broder, Chief Executive Officer of SIMON, will join iCapital as Managing Director, Head of iCapital Solutions and member of the Operating Committee. In this capacity, he will oversee the combined platform’s integration, market development, and sales of iCapital’s full suite of technology offerings. Additionally, iCapital will extend offers of employment to the nearly 200 SIMON team members.

“We have long-admired iCapital and everything it has accomplished in the alternative investing space,” said Broder. “After a highly collaborative exploratory process over recent months, it became abundantly clear that together we can create an unrivaled experience for our clients and set the stage for iCapital’s continued expansion of investment opportunities and support services for advisors. Together we’re delivering something the wealth management industry has wanted for a very long time – access to all alternative solutions under one, centralized platform.”

With the acquisition, SIMON’s advisor education and analytical resources – which includes SIMON Spectrum, as well as an extensive video collection with interactive product training and a dashboard to track advisor progress, product training for all levels, and custom compliance tracking – will further build out iCapital’s already robust education and analytics capabilities.

“Everything we do is about setting advisors up for success, and we are enormously excited to integrate the robust offerings of SIMON into the iCapital suite of analytical and educational resources providing a comprehensive resource to support advisor efforts to drive positive client outcomes,” said Calcano.

The transaction is expected to close in the second half of 2022 after the necessary regulatory approvals have been granted. Terms of the agreement were not disclosed.

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