iCapital Network, a financial technology platform focused on alternative investments, is expanding its hedge fund capabilities, the firm announced Wednesday.

The New York City-based firm, which serves the high-net-worth community, has appointed Joseph Burns head of hedge fund origination and diligence. In that position, he will be responsible for building relationships, identifying high-quality fund opportunities, overseeing the firm's hedge fund diligence efforts and developing the hedge fund pipeline.

Before joining iCapital, Burns was a founding partner and co-chief investment officer at hedge fund specialist Pulse Capital Partners. Previously, he was the chief operating officer and chief risk officer at TCS Capital Management, a global equity hedge fund; the head of global research at Ivy Asset Management; and a portfolio analyst at Soros Fund Management.

iCapital has also expanded its strategic relationship with Fidelity Clearing & Custody Solutions. Fidelity’s intermediary clients will now have direct access to iCapital's hedge fund offerings. This latest development builds on iCapital and Fidelity's existing relationship, which gives Fidelity's financial intermediaries access to iCapital's private equity fund offerings.
  
iCapital's proprietary technology is fully integrated with Fidelity's advisor platform Wealthscape and available through Fidelity's Alternative Investments Product Center, and it gives advisors access to investments at minimums of $100,000. iCapital provides a full array of due diligence support and educational materials to accompany the expanded hedge fund offerings on the Fidelity platform.

Since iCapital acquired HedgeFocus last year, the firm has been expanding its hedge fund offerings and increasing the range of managers, offering two or more managers and fund options in each category and multiple offshore options for investors. Collectively, the hedge fund managers on the iCapital platform oversee more than $100 billion in assets.