New York City-based iCapital Network, a fintech platform that
provides the high-net-worth market with access to alternative
investments, acquired the HedgeFocus business from Credit Suisse,
which is based in Zurich. The HedgeFocus portfolio contains more
than 20 hedge fund access vehicles representing approximately $1.8
billion in assets. With the transfer of assets, iCapital will be
responsible for the ongoing administration and servicing of
investments for all existing investors as well as marketing,
administration and servicing for new investors subscribing through
iCapital. The amount of the deal was not disclosed.
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