The firm has made several key senior appointments to drive its international strategy on the back of a growing international client base and heightened interest in private market investments.
New York-based iCapital Network, which has developed a digital distribution platform that provides access to private equity and hedge funds for wealthy clients and their private bankers, has detailed plans to accelerate its growth in Asia and Europe.
The company is also planning to open offices in Singapore and London in the first half of 2021 to support its recent international senior hires and growing footprint in the European and Asian regions, iCapital said in a statement on Monday.
New Hires
To oversee its expansion, the company is hiring Zurich-based Marco Bizzozero as its international head, effective December 1, the statement said. A long-time private equity banker, Bizzozero is currently head of wealth management at Unicredit in Milan. He previously spent 14 years at Deutsche Bank, where he was head of wealth management EMEA and CEO of Deutsche Bank Switzerland.
Tom Slocock, head of international product development and origination, iCapital
Besides Bizzozero, who will report to owner and founder Lawrence Calcano, the start-up is also hiring Tom Slocock (pictured above) as head of its international product development and origination, based in London. Like Bizzozero, Slocock is a veteran of the German lender.
Growing Client Base
The seven-year-old start-up, which secured $146 million in funding, led by Hong Kong-based Ping An's Global Voyager Fund. The company is backed by Wall Street players including Goldman Sachs, J.P. Morgan, BNY Mellon, Carlyle Group, as well as Credit Suisse and UBS.
iCapital reached $65 billion in client assets on the back of high-profile client acquisitions and rapid organic asset growth within the U.S. market over the last 18 months, it said in the statement. It currently has $8 billion from non-U.S. investors, making it one of the largest alternative investment platforms outside the country.
