Citigroup in New York agreed to sell a unit that advises its global alternative investment fund platform to technology provider iCapital.
Citi didn’t disclose the price that Capital will pay. Citi said that iCapital will manage and operate the fund platform, while Citi remains the distributor.
The platform includes a range of alternative investment strategies and asset classes, including private equity, growth equity, private credit, infrastructure, venture capital, real estate and hedge funds.