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TORONTO — (BUSINESS WIRE) — iCapital1, the global fintech platform driving the world’s alternative investment marketplace for the wealth management industry, announced today that iCapital Network Canada Ltd. (“iCapital Canada”), a Canadian investment fund manager and affiliate of iCapital group has been appointed Investment Fund Manager in Canada for Prime Quadrant Alternative Investment Access Funds, where iCapital will provide all administrative functions associated with managing these funds. Prime Quadrant is a leading trusted advisor and consulting firm for ultra-high-net-worth families in both Canada and the US.

This partnership, in addition to iCapital Canada’s 40+ Canadian funds and a previously announced partnership with Sterling Global, firmly positions iCapital Canada as a trusted technology partner to deliver a comprehensive digital investing experience for Canada’s leading wealth advisors and asset managers.

“Prime Quadrant is an innovative industry leader within the high-net-worth community, and iCapital is honored to be entrusted with the investment fund management responsibilities of their Access funds,” said Lawrence Calcano, Chairman and CEO of iCapital. “We believe that the multi-family office, independent RIAs, and the dealer wealth channel represent an outstanding opportunity for us to create industry-leading solutions. Our goal is to provide a single platform that utilizes our market-leading technology and operating system, offering advisors the tools they need to achieve better scale and efficiency for their alternatives business.”

This is the first time iCapital has established a strategic partnership with a family office advisory firm to manage the administration of an existing platform. This partnership represents the type of opportunities iCapital can provide for firms in the independent wealth space to more efficiently scale their alternative investing businesses. These strategic partnerships are a natural evolution and extension to the transactions iCapital, as a leader in alternative investment technology, has done with many of the leading global bank platforms.

iCapital Canada assumes the administrative functions associated with the running of alternative funds for Prime Quadrant’s clients, while Prime Quadrant remains the portfolio manager handling the selection of the underlying investment managers and strategies. Prime Quadrant has built a world-class platform, which includes top-tier private equity, real estate, private debt, venture capital, and hedge fund Access funds. iCapital’s technology will be leveraged to streamline and automate the onboarding, subscription processing, and lifecycle operations for Prime Quadrant Access funds while providing support to the firm and its ultra-high-net-worth clients. In addition to managing Prime Quadrant’s existing alternatives Access funds, iCapital Canada will provide administrative support to the firm when launching new alternatives products in the future.

“Our relationship with iCapital will ensure Prime Quadrant can scale its ability to meet and exceed our clients’ expectations by leveraging iCapital’s technology and resources to continue developing creative solutions for our families,” said Mo Lidsky, Chief Executive Officer of Prime Quadrant. “We are excited to benefit from iCapital’s complete end-to-end solution and operating system to help simplify the many post-trade management activities for our families.”

Terms of the agreement were not disclosed.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities; nor shall there be any sale of securities in any jurisdiction in which any offer, solicitation, or sale would be unlawful prior to registration or qualification of such securities under the securities laws of any such jurisdiction.

About iCapital

iCapital powers the world’s alternative investment marketplace offering a complete suite of tools, end-to-end enterprise solutions, data management and distribution capabilities and an innovative operating system. iCapital is the trusted technology partner to independent financial advisors, wealth managers, and asset managers, offering unrivaled access, technology, and education to incorporate alternative assets into the core portfolio strategies for their clients.

At the forefront of the digital transformation in alternative investing, iCapital’s secure platform delivers a complete portfolio of management capabilities for education, transactions, data flows, analytics, and client support throughout the investment lifecycle. With $187.52 billion in global platform assets, the iCapital operating system automates and streamlines the complex process of private market investing and seamlessly integrates with clients’ existing infrastructure platform and tools.

iCapital employs approximately 1,500 people globally and has 17 offices worldwide including New York, Greenwich, Zurich, Lisbon, London, Hong Kong, Singapore, Tokyo, and Toronto.  iCapital has consistently been recognized for its outstanding innovation, fintech industry leadership, and performance including Forbes Fintech 50 for 2018, 2019, 2020, 2021, 2022, 2023, and 2024 and MMI/Barron’s Industry Awards as Solutions Provider of the Year for 2020, 2021, 2022, and 2023.

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About Prime Quadrant

Prime Quadrant, certified as one of the Best Places to Work, serves more than 200 affluent families across North America and consults on CAD$22+ billion in assets. Our mission is to empower families for the future and assist them across the full range of their financial, social, and human capital needs. Our culture is the Prime Quadrant PATH – we are Purposeful, Authentic, Tenacious, and Humble. We are deeply grateful for the work we are privileged to do, the wonderful families we are fortunate to serve, and the exceptional team around us.

For media inquiries, please contact:
Media Relations
(919) 602-2806
[email protected]

Prime Quadrant:
Mark Roth
Chief Risk & Compliance Officer
[email protected]

1. iCapital, Inc. and its affiliates (together, “iCapital”)
2. As of April 30, 2024

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