iCapital1, the global fintech platform driving the world’s alternative investment marketplace for the wealth management industry, and Mirador, a leading technology-enabled provider of investment data aggregation and financial reporting across both alternative and traditional investments, today announced they have entered into a definitive agreement under which iCapital will acquire Mirador. With the acquisition, iCapital 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 CEO 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.”
Mr. Calcano further commented, “Integrating Mirador’s exceptional financial reporting capabilities creates a holistic solution for both wealth and asset managers.”
Mirador delivers an array of services for its client base, including advisors serving high-net-worth investors, family offices, endowments, and foundations. 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.
“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.”
iCapital’s platform, analytic tools, and advisor education resources enable wealth managers and fund managers to streamline their operational infrastructures to provide advisors 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.
As part of the transaction, over 180 employees of Mirador are expected to join iCapital. Terms of the agreement were not disclosed.
Morgan Stanley & Co. LLC and Goodwin Proctor LLP are serving as advisors to iCapital. Raymond James and DBM Legal Services LLC are serving as advisors to Mirador.
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