AltExchange, an AI-driven technology company revolutionising alternative investment data aggregation and iCapital, the global fintech platform powering the world’s alternative investment marketplace for the wealth and asset management industries, have reached an official agreement whereby iCapital plans to acquire AltExchange.
To facilitate real-time data reporting and simplified tax filing, AltExchange’s modern technology collects and transforms unstructured data from disparate documents and multi-format data streams into organised insights.
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Financial advisers are empowered by AltExchange’s AdvisorVue platform, which unites client portfolios, standardises data and documents, and automates reporting procedures.
Moreover, AltExchange’s Digital Custodian Platform (DCP) offers asset managers a strong tool for automating investor reporting, regulating post-investment reporting data, and enabling smooth connection with advisers’ systems.
Lawrence Calcano, chairman and CEO of iCapital stated: “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. 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 organise 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.”
Kareem Hamady, CEO of AltExchange, and will join iCapital as part of the transaction added: “We built an intuitive adviser-facing platform to manage, monitor, and report on alternative investments, offering comprehensive tools for document management, advanced alerts, and streamlined tax workflows. 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 advisers and their clients.”
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By GlobalDataFurthermore, iCapital revealed that its technology is now driving an exclusive platform experience for registered investment advisers (RIAs), allowing firms that use GeoWealth to include private assets more easily within unified managed accounts (UMAs).
The experience is offered to eligible advisers who use GeoWealth’s investment implementation platform and BlackRock’s custom model portfolios.
