iCapital announced today it has agreed to acquire Mirador, a provider of investment data aggregation and financial reporting in both alternative and traditional investments.
ICapital said the deal will bolster its data management and reporting capabilities for clients and advisors in the wealth management, family office, endowment and foundation arenas—offering real-time views of assets and liabilities, consolidated financial reporting, alternative investment data management, K-1 management and compensation management.
Terms of the deal were not disclosed, but more than 180 Mirador employees are expected to join iCapital when the transaction is completed, the statement said. iCapital now supports more than $180 billion in global platform assets and employs more than 1,200 people.
“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 in a prepared statement. “Together, we meet clients precisely where they are and provide an experience without rival when integrating alternatives into investment portfolios.”
Mirador operates throughout North and South America, Europe, the Middle East, Africa and Asia Pacific.
Lawrence Calcano, chairman and CEO of iCapital, added that the integration of Mirador’s capabilities will create a “holistic solution for both wealth and asset managers” in which iCapital can now offer “reliable end-to-end data management capability for the industry.”
iCapital’s resources, which include a technology platform, analytic tools and education resources, enable wealth managers and fund managers around the world to provide advisors and high-net-worth individuals with a “digital investing experience” across a range of investments, the statement said. That includes private equity, private credit, real assets, hedge funds, registered funds, structured investments, and annuities.