The acquisition means the alternative investments platform can expand its data management and performance reporting capabilities.
Alternative-investments platform providor iCapital says it is acquiring Mirador, which focuses on investment data aggregation and financial reporting. As part of the deal, over 180 Mirador employees are expected to join iCapital, which has 1,200 staff members and works with nearly $181 billion in platform assets worldwide.
The acquisition means iCapital can expand its data management and reporting capabilities to create a “more enhanced technology experience” for clients in the wealth management, family office, endowment and foundation segments, the companies said. Terms of the agreement were not disclosed.
“Mirador has set the industry standard for managing data with leading third-party performance reporting providers,” iCapital Chairman and CEO Lawrence Calcano explained in a statement.
“This acquisition further enhances and broadens the service model iCapital delivers through our market-leading alternative investment operating system and allows us to deliver on our goal of creating a reliable end-to-end data management capability for the industry,” Calcano added.
Mirador focuses on providing alternative and traditional investments for its client base, including advisors serving high-net-worth investors, family offices, endowments and foundations.
Its services include consolidated financial reporting, private investment support, offline and alternative investment data management, K-1 document management, and compensation management for wealth management firms. The company also offers custom wealth technology solutions.
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