iCapital Network, the leading global financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, is expanding operations to Greenwich.
The new office in town will create 200 jobs for the state of Connecticut over the next two years, according to a news release from Gov. Ned Lamont's office.
The Greenwich office will open this fall at Greenwich Plaza, and the company is actively recruiting for the Connecticut location across technology, client services, finance, and legal and compliance jobs.
"We are excited to welcome iCapital to Connecticut, and I congratulate them on their decision to invest and grow in our state," Lamont said in the news release. "This is more validation that our approach to growth and economic development is working, as we're seeing more companies take a second look at our state and decide that it is an ideal environment for them to grow and thrive. I'm looking forward to having a strong working relationship with CEO Lawrence Calcano, and the entire team at iCapital."
This news comes on the heels of Philip Morris announcing a move to Connecticut. A location for them is unknown at the moment, but the Southwestern part of the state is a possibility.
iCapital was founded in 2013 in New York City. Wealth management firms use iCapital's solutions to provide clients with funds at lower minimums and simplified digital workflows, the news release said. Asset managers and banks leverage iCapital's technology to streamline and scale their private investments operational infrastructure.
Additionally, the iCapital "flagship" platform offers financial advisors and their high-net-worth clients access to a curated menu of private equity, private credit, hedge funds, and other alternative investments to help meet their investing needs for return and diversification. iCapital's research and diligence team offers robust analysis alongside the firm's extensive suite of advisor education, compliance, portfolio management, and portfolio analytics tools and services.
iCapital was recognized on the Forbes FinTech 50 list from 2018-2021, the Forbes America's Best Startup Employers in 2021, and MMI/Barron's Industry Awards as Solutions Provider of the Year in 2020.
iCapital Network has approximately 450 employees and services $75 billion in global client assets across more than 750 funds. It also has offices in Zurich, London, Lisbon, and Hong Kong.
"iCapital is expanding swiftly across the globe to meet the need for technology solutions in support of the growing demand for alternative investments," Lawrence Calcano, chairman and CEO of iCapital Network, said in a news release. "When we considered locations for the expansion of our domestic footprint, Connecticut was the obvious choice. I respect the Governor's commitment to bringing top-tier employers and good jobs to Connecticut and supporting entrepreneurship in innovative sectors that will drive economic growth."
United States Congressman Jim Himes (D-4), a Greenwich resident, welcomed iCapital Network to town.
"We welcome iCapital to Greenwich and are excited not only for the 200 new jobs this will create over the coming years, but for its innovative and creative approaches in the sector," Himes said. "Southwest Connecticut offers a dynamic environment for business creation and investment, with a highly-trained workforce and growth-oriented mindset."
Greenwich First Selectman Fred Camillo said the move enhances the town overall.
"iCapital's decision to open an office in town reinforces Greenwich's position as a premier location to do business," Camillo said. "I welcome Mr. Calcano and his company as they join the many financial firms that call Greenwich, Connecticut home."
This article originally appeared on Patch.
