Cleary Gottlieb is representing Institutional Capital Network Inc. (iCapital Network) in its acquisition of the alternative investments feeder fund platform business of Wells Fargo’s Global Alternative Investments Division and Wells Fargo’s related strategic investment in iCapital Network under the terms of its latest fundraising round.
The transactions signed on June 17, 2020.
iCapital Network’s flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment. As of April 30, 2020, iCapital Network services more than $51 billion in client assets across more than 100,000 underlying accounts. Wells Fargo’s alternative investment feeder fund platform supports a full suite of alternative investment solutions, including private equity, private debt, hedge funds, private real estate, and direct private investments across approximately 70 investment vehicles.