Wells Fargo selling GAI Feeder Fund Platform to iCapital

https://www.mobilepaymentstoday.com/news/wells-fargo-selling-gai-feeder-fund-platform-to-icapital/
http://nmgprod.s3.amazonaws.com/media/files/2b/3d/2b3d40cdb48857ee6c14b0e2cfe0d557/cover_image_1592578096.jpg.640x360_q85_crop.jpg?#

Wells Fargo selling GAI Feeder Fund Platform to iCapital

photo provided by iStock

Wells Fargo & Company has announced that its Wells Fargo Investment Institute, Inc., will sell its Global Alternative Investments Feeder Fund Platform to iCapital Network. In addition, Wells Fargo is making a strategic investment in iCapital

Since 2006, the Wells Fargo GAI Feeder Fund Platform has offered investment options to brokerage and wealth management clients through feeder funds that invest in external funds or portfolio companies, according to a press release on the sale. Clients can invest in private equity, private debt, hedge funds, private real estate, and direct private investments across approximately 70 investment vehicles.

WFII decided to partner with iCapital to ensure a best-in-class investment solution for clients that was effective and expedient. As part of the transaction, iCapital will offer employment to Wells Fargo employees who support operations for the GAI Feeder Fund Platform.

“We are pleased to partner with iCapital to deliver alternative investments to enhance the experience for our advisors and clients,” said Darrell Cronk, president of WFII, in the release. “This transaction will allow us to continue to provide innovative alternative investment solutions to our clients as well as upgrade the overall platform and launch new offerings.”

The transaction is expected to close during the second half of 2020.


Topics: Mergers & Acquisitions, Mobile Payments, Mobile Banking Companies: Wells Fargo & Co


Sponsored Links:


Related Content


Latest Content

https://www.mobilepaymentstoday.com/news/wells-fargo-selling-gai-feeder-fund-platform-to-icapital/