back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

iCapital announces strategic investment from Bank of America

By Edlyn Cardoza

June 24, 2022

  • Alternative Investing
  • Asset Management
  • Bank of America

iCapital, Bank of America, FinTech, Alternative Investing, Asset Management, Digital Solutions, USAiCapital, a leading global FinTech platform driving access and efficiency in alternative investing for the asset and wealth management industries, recently announced that Bank of America has made a strategic investment in the company, deepening a partnership that began in 2018. iCapital will use the investment to continue to build out the technical capabilities of its global alternative investing solution that supports more than $130 billion in platform assets.

The investment highlights another milestone in the strategic relationship between iCapital and Bank of America. In March 2019, iCapital acquired Bank of America’s alternative investment feeder fund operations. This enabled Bank of America to streamline and automate ongoing fund operations and administration services for Merrill and Private Bank advisors and their clients.

Since the initial agreement with Bank of America, iCapital has made a series of acquisitions and launches to expand its technical capabilities, broaden the menu of investment opportunities offered on its platform, and continue to lead the industry in developing solutions to overcome barriers to efficiency and adoption.

“We are honored to have the support of Bank of America to further iCapital’s mission to provide financial advisors with a complete alternative investing solution,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital. “We look forward to continuing to work with the Bank of America team to enhance our platform to best meet the needs of its Merrill and Private Bank advisors seeking a range of alternative investments for their high-net-worth clients.”

“iCapital and Bank of America share the belief that alternative investments are an important component of a well-diversified portfolio and it is critical to increase access, education and service to advisors and their clients,” said Nancy Fahmy, Head of Alternative Investments, Specialty Asset Management and Investment Solutions Specialists for Bank of America. “Deepening our support of iCapital through a strategic investment is emblematic of the success of our collaborative relationship.”

Bank of America joins an impressive consortium of industry leaders aligned with iCapital’s industry-standard technology solution for facilitating private wealth channel access to alternative investments and its dedication to developing next-generation alternative processing and digital solutions.

Bank of America invested in iCapital at the same valuation as iCapital’s last funding round in December 2021.

Previous Article

June 24, 2022

Ethis Group and Gobi Partners to unveil Shariah-compliant $20m seed fund

Read More
Next Article

June 24, 2022

ForwardAI and C2FO partner to provide cash flow forecasting technology to SMBs

Read More

IBSi Daily News Analysis

The Weekly Wrap

August 12, 2022

Alternative Investing

The Weekly Wrap: all you need to know by Friday COB | August 12th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

August 12, 2022 Group announced receiving the VFA Class 4 License in Malta

Read More

August 11, 2022

5 notable wealth management companies across the Americas

Read More

August 10, 2022

Jupiter introduces No-Penalty SIP for Mutual Fund Investments

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2022