# iCapital

iCapital is a Bank / Wealth / Trust based in New York, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2013
- **Assets under management:** Undisclosed
- **Website:** icapital.com
- **LinkedIn:** https://www.linkedin.com/company/icapital
- **Wikidata:** Q97498239

## About

iCapital is a Boston-based independent investment adviser founded in 1999 on three fundamental principles - Independence, Integrity and Innovation. It offers comprehensive fee-only wealth management and fiduciary consulting services to individuals, qualified retirement plans, corporations, endowments and foundations.

## Sectors

- Private Equity
- Private Credit
- Hedge Funds
- Real Estate
- Infrastructure
- Secondaries & Special Situations

## Offices

- Greenwich, CT
- Zurich
- London
- Lisbon
- Hong Kong
- Singapore
- Tokyo

## People

- Lawrence Calcano — Chairman and Chief Executive Officer
- Nick Veronis — Co-Founder and Managing Partner
- Dan Vene — Co-Founder and Managing Partner
- John Robertshaw — Chief Financial Officer

## Questions

### What exactly does iCapital do?

iCapital provides a white-label technology platform that digitizes the entire alternative-investment lifecycle for wealth managers and private banks. Its software handles subscription processing, AML/KYC compliance, capital-call management, and performance reporting — allowing advisors to allocate into top-tier private equity, credit, and real estate funds at smaller ticket sizes. The firm also structures feeder funds and registered vehicles that repackage large institutional LP interests for accredited individual investors.

### Who runs investment decisions at iCapital?

iCapital does not make direct investment decisions because it is not an asset manager. The firm's due-diligence team, led by managing directors with institutional backgrounds, screens and selects the third-party fund managers that appear on its platform. Lawrence Calcano, as Chairman and CEO, sets overall strategy, while co-founders Nick Veronis and Dan Vene retain significant influence over product architecture and platform partnerships.

### Does iCapital manage the underlying assets, or does it simply provide access to third-party funds?

iCapital provides access to third-party funds and does not act as an investment adviser over the underlying portfolio assets. It structures and administers feeder funds, registered interval funds, and structured notes that channel client capital into funds managed by firms like Blackstone, KKR, and Carlyle. The actual investment management — asset selection, portfolio construction, and exit decisions — remains with those underlying general partners.

### How does iCapital source the funds and managers it offers on its platform?

iCapital sources its fund inventory through long-standing institutional relationships cultivated by its leadership, particularly ties built during Calcano's tenure at Goldman Sachs and Eaton Partners. The firm also benefits from a network effect — as its advisor base grows, more large-cap general partners seek distribution through its platform, expanding the available product shelf.

### What is iCapital's relationship with major wirehouses like Morgan Stanley or UBS?

iCapital licenses its technology directly to large wealth management firms, embedding its platform inside their proprietary advisor workstations. For example, Morgan Stanley uses an iCapital-powered alternative-investments interface that its financial advisors access within their existing workflow tools. These relationships are enterprise-level software-as-a-service and distribution partnerships rather than simple fund-listing agreements.

## Related profiles

- [IBT Consolidated Pension Plan](https://altss.com/profile/ibt-consolidated-pension-plan)
- [iCapital Wealth](https://altss.com/profile/icapital-wealth)

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Last updated: 2026-08-11T15:07:05.535Z

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