iCapital (a global fintech platform driving the world’s alternative investment marketplace for the wealth management industry) and Mirador (a leading technology-enabled provider of investment data aggregation and financial reporting across alternative and traditional investments) announced they have entered into a definitive agreement under which iCapital will acquire Mirador.
With the acquisition, iCapital will expand its data management and reporting capabilities, enhancing the technology experience for clients in the wealth management, family office, endowment, and foundation segments.
Mirador offers an array of services for its client base, including advisors serving high-net-worth investors, family offices, endowments, and foundations. And Mirador’s services include consolidated financial reporting, private investment support, offline and alternative investment data management, K-1 document management, and compensation management for wealth management firms. Mirador also has a technology consulting team providing custom wealth technology solutions.
iCapital’s platform, analytic tools, and advisor education resources enable wealth managers and fund managers to streamline their operational infrastructures to provide advisors and high-net-worth investors with a digital investing experience across a wide spectrum of alternative investments, including private equity, private credit, real assets, hedge funds, registered funds, structured investments, and annuities.
Over 180 Mirador employees are expected to join iCapital as part of the deal. The terms of the agreement were not disclosed.
Morgan Stanley and Goodwin Proctor are serving as advisors to iCapital. And Raymond James and DBM Legal Services are serving as advisors to Mirador.
KEY QUOTES:
“Mirador has set the industry standard for managing data with leading third-party performance reporting providers. This acquisition further enhances and broadens the service model iCapital delivers through our market-leading alternative investment operating system and allows us to deliver on our goal of creating a reliable end-to-end data management capability for the industry.”
“Integrating Mirador’s exceptional financial reporting capabilities creates a holistic solution for both wealth and asset managers.”
– Lawrence Calcano, Chairman and CEO of iCapital
“Mirador and iCapital share a commitment to provide the wealth management community with easier access to alternative investments. By combining Mirador’s data aggregation, comprehensive reporting capabilities, and customizable service model with iCapital’s scale, global reach, and industry-leading technology solutions, we will offer clients of both firms a robust suite of enhanced resources. Together, we meet clients precisely where they are and provide an experience without rival when integrating alternatives into investment portfolios.”
– Joseph Larizza, CEO and President of Mirador
