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iCapital Aims to Streamline Data Management, Financial Reporting With Mirador Acquisition

iCapital entered into a definitive agreement to acquire Mirador, a technology-enabled provider of investment data aggregation and financial reporting across both alternative and traditional investments.

With the acquisition, iCapital – a global fintech platform facilitating the alternative investments marketplace for the wealth management industry – will expand its data management and reporting capabilities to create an enhanced technology experience for clients in the wealth management, family office, endowment, and foundation segments.

“Mirador has set the industry standard for managing data with leading third-party performance reporting providers,” said Lawrence Calcano, chairman and chief executive officer of iCapital. “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,” added Calcano.

Mirador’s offerings 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 offering custom wealth technology solutions.

The news follows iCapital’s debut of Architect – a portfolio construction tool – and its partnership with Morningstar, both in the first quarter of 2024.

“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,” said Joseph Larizza, CEO and president of Mirador. “Together, we meet clients precisely where they are and provide an experience without rival when integrating alternatives into investment portfolios.”

Founded in 2015, Mirador supports the performance reporting requirements of wealth managers, family offices, endowments, and foundations throughout North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. According to iCapital, Larizza will continue to grow Mirador as well as lead the transition. As part of the transaction, Mirador’s 180+ employees globally are also expected to join iCapital.

Terms of the agreement were not disclosed.

iCapital’s platform, analytic tools, and adviser education resources enable wealth managers and fund managers to streamline their operational infrastructures to provide advisers and high-net-worth investors with a digital investing experience across a broad spectrum of alternative investments – including private equity, private credit, real assets, hedge funds, registered funds, structured investments, and annuities.

iCapital is a global fintech company supporting the alternative investments marketplace. iCapital’s solutions enable organizations to streamline and scale their operational infrastructure for alternative investments and to provide access to direct investments and feeder funds at lower minimums through simplified digital workflows. iCapital services more than $180 billion in global platform assets; employs more than 1,200 people globally; and has 13 offices worldwide including New York, Greenwich, Zurich, Lisbon, London, Hong Kong, Singapore, Tokyo, and Toronto.

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