iCapital Inks Deal to Buy SIMON Markets

iCapital, a global fintech platform focused on alternative investments, agreed to purchase SIMON Markets to expand services to wealth managers.

iCapital, a global fintech platform focused on alternative investments, has agreed to acquire SIMON Markets. SIMON is an advisor platform for structured investments, annuities, and risk-management solutions. The deal is anticipated to expand iCapital’s technical capabilities, education offerings, and support services for wealth managers.

 SIMON’s offerings include on-demand education, real-time data and analytics and life-cycle management. Additionally, SIMON Spectrum is an allocation and portfolio analysis construction tool which evaluates how structured investments and/or annuities fit into an investment portfolio. iCapital offers comprehensive research, education, and portfolio analytics tools to support advisors in understanding alternatives and incorporating them into their practices.

Under the agreement, SIMON’s chief executive officer Jason Broder will join iCapital as managing director, head of iCapital Solutions and member of the operating committee. iCapital will also extend offers of employment to the nearly 200 SIMON employees.

The transaction is expected to close in the second half of 2022. Terms of the agreement were not disclosed.

“Today’s wealth management professionals seek a premium technology platform and access to a broader range of alternative investment strategies that provide thoughtful ways to diversify and potentially enhance long-term returns in client portfolios,” said Lawrence Calcano, chairman and chief executive officer of iCapital. “SIMON is a recognized leader in structured investments and annuities offering an exceptional user experience and a distribution network of impressive depth and breadth. This acquisition provides our advisors with a much more robust platform and suite of tools to help them pursue successful investment outcomes for their clients.”

iCapital was founded in 2013 in New York City and provides end-to-end technology and services to wealth management firms, asset managers, registered investment advisors. Additionally, its ‘flagship’ platform offers wealth advisors and their high-net-worth clients access to private equity, private credit, hedge funds, structured notes, and other alternative investments. iCapital’s research and diligence team provides analysis alongside the firm’s advisor education, compliance, portfolio management, and portfolio analytics tools and services.

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