iCapital Network acquires Wells Fargo’s alts platform
iCapital Network has acquired Wells Fargo’s global alternative investment (GAI) division.
As part of the transaction, Wells Fargo is investing in iCapital, under the terms of the Network’s latest funding round in March, which saw the platform raise $146m.
iCapital will also offer positions to Wells Fargo employees who operate the GAI division.
Wells Fargo’s GAI supports various alternative asset classes including private equity, private debt, hedge funds, private real estate and direct private investments across 70 vehicles.
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