No sooner does Lawrence Calcano raise $146 million than he buys rival Artivest -- then Wells Fargo alts service -- capping iCapital's 500%-plus run on alternatives 'platform' to $58 billion -- with almost every wolf on Wall Street chipping in
The iCapital CEO, who started 2019 at a humble $8 billion of AUA, now adds Artivest's $4 billion and its sweet technology to rolled up clientele with funding from BlackRock, Blackstone, Carlyle, KKR, JPMorgan, Morgan Stanley among others. A month later, iCapital brings in $3 billion more with purchase of Wells Fargo alts platform, and the storied bank became an iCapital investor.
Lawrence Calcano, flush with $440-million of PE cash, boosts spending, after iCapital adds $37 billion of non-correlated assets in nine months
The New York City-based CEO of the alts supermarket ordered a hiring spree of computer engineers after financial engineering slows and organic growth starts to kick in.
January 16, 2023 at 6:53 AM
With IPO clock at 10-years and ticking, Personal Capital makes two big, out-of-character moves to go upmarket and downmarket
With $9 billion in assets, the Redwood City-based national RIA hired the ex-Virgin America CMO Porter Gale to make one brand investors associates with both the freebie tools and the full-priced financial advice its advisors provide mostly from call centers