The acquisition is intended to bolster iCapital’s data management and reporting capabilities.
iCapital, a platform provider for alternative investment markets, is hoping to expand its data management and reporting capabilities for the wealth management, family office, endowment, and foundation segment markets via its recently announced acquisition of Mirador, officials say.
Mirador offers investment data aggregation, financial reporting services, middle office support, and IT solutions and products to the ultra-high net worth (U/HNW) wealth management industry, officials say.
iCapital provides a platform, analytic tools, and advisor education resources to wealth managers and fund managers who need to streamline their operational infrastructures, officials say.
iCapital also offers advisors and high-net-worth investors digital investing support across “private equity, private credit, real assets, hedge funds, registered funds, structured investments, and annuities,” according to the announcement.
Mirador’s services are also offered to “advisors serving high-net-worth investors, family offices, endowments, and foundations,” according to the announcement. Those offerings include “private investment support, offline and alternative investment data management, K-1 document management, and compensation management for wealth management firms. Mirador also has a technology consulting team offering custom wealth technology solutions.”
Mirador also supports the performance reporting requirements of family offices, wealth managers, endowments, and foundations throughout North America, South America, EMEA, and Asia Pacific.
Mirador employs more than 180 staff members, including those at its headquarters in Stamford, Conn., and offices in Chicago, Jacksonville, Fla., Salt Lake City, Utah, Edinburgh, Scotland, and London, England, officials say. The acquisition will require these employees to join iCapital.
Morgan Stanley & Co. LLC and Goodwin Proctor LLP are serving as advisors to iCapital, officials say. Raymond James and DBM Legal Services LLC are serving as advisors to Mirador.
iCapital did not provide further information about the terms of the agreement.
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