iCapital® to Acquire AltExchange to Enhance Data Management Capabilities

iCapital, the global fintech platform driving the world’s alternative investment marketplace for the wealth and asset management industries, and AltExchange, a leading AI-driven technology firm transforming alternative investment data aggregation, management, and reporting for financial advisors and asset managers, today announced they have entered a definitive agreement under which iCapital intends to acquire AltExchange.

“AltExchange has developed one of the most advanced document retrieval solutions that’s connected to sophisticated mapping, routing technology and LLM (Large Language Model) based document extraction,” said Lawrence Calcano, Chairman and CEO of iCapital. “This acquisition complements the investments we are making in our internal R&D to further enhance our data management capabilities. Combined with our existing solutions, it allows us to deliver on our goal of creating reliable end-to-end data management services for all our clients. These capabilities will help our clients collect, extract, and organize their data more efficiently and cost-effectively, therefore making more informed decisions and achieving their financial objectives. We are excited to welcome AltExchange to iCapital.” 

AltExchange’s advanced technology aggregates and converts unstructured data from scattered documents and multi-format data feeds into structured insights to support real-time data reporting and streamlined tax reporting. AltExchange’s AdvisorVue platform empowers financial advisors by aggregating clients’ portfolios, standardizing data and documents, and automating reporting processes. For asset managers, AltExchange’s Digital Custodian Platform (DCP) provides a powerful tool to standardize post-investment reporting data, automate investor reporting, and facilitate seamless integration with advisors’ systems. 

“We built an intuitive advisor-facing platform to manage, monitor, and report on alternative investments, offering comprehensive tools for document management, advanced alerts, and streamlined tax workflows,” said Kareem Hamady, CEO of AltExchange, who will be joining iCapital as part of the acquisition. “We are thrilled to join iCapital and offer our collective clients automated data aggregation, reporting, and direct integrations with leading asset and wealth management systems, providing a seamless experience for advisors and their clients.”