ICapital Network, a tech platform for private equity, hedge funds and other alternative investments, has raised $146 million in capital to expand its capabilities and functionality.
The capital came from Ping An Global Voyager Fund, which led the round; new investors including Goldman Sachs, Affiliated Managers, Hamilton Lane and WestCap; as well as existing investors BlackRock, UBS Financial Services, Blackstone and BNY Mellon.
In a release, iCapital said the funds also will be used to grow internationally and further its commitment to market education.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
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Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
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