iCapital to Acquire Citi Wealth’s Alternative Investments Feeder Platform

Cleary Gottlieb is representing iCapital Inc. and its affiliates (iCapital) in its acquisition of Citi Global Alternatives LLC, an indirect subsidiary of Citi and the advisor to Citi Wealth’s global alternative investment fund platform.

The platform represents more than 180 alternatives funds distributed globally and comprises investment vehicles across a diverse range of alternative investment strategies and asset classes, including private equity, growth equity, private credit, infrastructure, venture capital, real estate, and hedge funds. With this transaction, iCapital will manage and operate the fund platform, while Citi will remain the distributor of such funds and will continue offering guidance to its clients on the role of alternative investments within a diversified investment strategy.

iCapital is a global leader, shaping the future of private markets’ investing for financial advisors, wealth managers, asset managers, and other industry participants. iCapital offers a diverse and complete range of non-traditional investment products on iCapital Marketplace, Enterprise solutions, and both Technology and Data Services, driving better outcomes for all participants in the ecosystem. As of March 31, 2025, iCapital streamlines private market investing with over $880 billion in platform assets including $220 billion in alternatives, almost $200 billion in SI and annuities, and almost $480 billion in data assets reported on, and serving over 2,900 wealth management firms and 108,000 active financial professionals.