Second private equity giant in a week reveals investment in fintech player iCapital

The second private equity giant in a week has revealed backing for fintech investment platform iCapital Network.

Carlyle’s investment comes a few days after buyout peer Blackstone said it had bought into the company, joining investment majors including BlackRock, BNY Mellon, Credit Suisse and JP Morgan as backers.

iCapital’s modular technology and service platform aims to provide private equity, private credit, hedge funds, and other alternative investment specialists with end-to-end software for subscription, administration and reporting processes.

Blackstone already uses iCapital technology, and Carlyle said it would follow suit to help manage Carlyle’s operations and administration of its private equity vehicles targeting the wealth management marketplace.

Carlyle managing director Norma Kuntz said, “Carlyle has developed a strong relationship with the team at iCapital as they’ve rapidly grown from a fintech startup to an established leader working with some of the most respected participants in alternatives.

“Using technology to improve operational processes and infrastructure, iCapital’s platform is a potential game-changer for the industry.”

Paul Ferraro, Managing Director and Head of Carlyle’s private client group, added, “We have seen firsthand how iCapital’s technology facilitates access to alternative investments for high net worth clients and eases fund administration for GPs.

“Their technology has become the standard in the marketplace.”

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