iCapital Network, a financial technology platform focused on alternative investing for the asset and wealth management industries, has agreed to purchase the assets of AI Insight Inc., an alternative investment education and compliance platform for financial advisors.
AI Insight provides investment research, training, qualification, and compliance support for a range of alternative investments, including private capital, hedge funds, non-traded real estate investment trusts, business development companies, and alternative mutual funds.
AI Insight’s learning management system provides fund-specific e-learning modules on private investment strategies to independent broker-dealers and registered investment advisors focused on expanding the scope of products available to their clients.
Advisors can study the specific structure, methods, and performance of a fund, and complete an assessment to demonstrate their understanding of fund information, fulfilling their compliance and regulatory commitments.
“The growing interest in alternative investments and a regulatory environment expanding access to these opportunities are heightening the demand for in-depth and accessible education and compliance support,” said Lawrence Calcano, chairman and chief executive officer of iCapital Network. “The acquisition of AI Insight supports our ongoing mission to equip independent advisors with comprehensive education and resources to ensure they are fully versed in the complexities of these funds and how they are best integrated in client portfolios.”
Under the agreement, Sherri Cooke, president and CEO, and Jennifer Simon, chief operations officer of AI Insight, and eight additional AI Insight employees are expected to join the iCapital team.
In September 2020, iCapital announced its purchase of the portfolio analytics tool, factorE, to evaluate and manage complex portfolios that hold a mix of traditional and alternative investments. The company also offers resources on market trends, emerging product strategies, and fund management.
iCapital Network’s platform provides advisors and their clients access to of private equity, private credit, hedge funds, and other alternative investments with a suite of due diligence, administrative support and reporting in a digital environment. As of December 31, 2020, the firm had more than 340 employees and services more than $68 billion in global client assets for more than 125,000 underlying accounts.