iCapital, a fintech platform, has purchased Simon Markets.

SIMON is a technology platform facilitating structured investments with over $48 billion of issuances in 2021.

“Today’s wealth management professionals seek a premium technology platform and access to a broader range of alternative investment strategies that provide thoughtful ways to diversify and potentially enhance long-term returns in client portfolios,” said Lawrence Calcano, CEO of iCapital. “We are thrilled to welcome the highly accomplished SIMON team to iCapital with whom we share a mission to expand access and efficiency of alternative investing across the industry.”

Morgan Stanley & Co and UBS Investment Bank are acting as financial advisors to iCapital. Goldman Sachs & Co is serving as financial advisor to SIMON.