New York-based financial technology provider iCapital Network has purchased a hedge fund feeder portfolio system from Credit Suisse.
The HedgeFocus platform will expand iCapital’s offerings to investment advisors serving high-net-worth clients to include a dozen additional hedge fund access vehicles across strategies representing approximately $1.8 billion in assets.
In announcing the purchase on Monday, iCapital did not disclose the terms of the transaction.
After the transfer of assets, iCapital will be responsible for administering and servicing the investments for existing investors and marketing, administering and servicing for all new investors.
With the purchase, iCapital now manages more than $2 billion in client assets on its platform, which to date has specialized in offering high-net-worth investors access to a spectrum of alternative investments.