WFC - Blue Owl Noah Holdings Golub invest in iCapital to expand alternatives investing

solarseven/iStock via Getty ImagesiCapital Network, a fintech platform that aims to make alternative investing and asset and wealth management more efficient, raises $440M, led by Singapore investment firm Temasek and new investors Owl Rock, a unit of Blue Owl Capital (OWL), Noah Holdings (NOAH), and Golub Capital.The round of financing brings iCapital's valuation to ~$4B, up from $860M in March 2020, according to the Wall Street Journal.Additional commitments were made by existing investors including Blackstone (BX), UBS (UBS), BNY Mellon (BK), Wells Fargo (WFC), Morgan Stanley (MS), and Goldman Sachs (GS) Asset Management.iCapital will use the proceeds to enhance its platform technology, expand its alternative investment products and strategies, and pursue strategic acquisitions to broaden client capabilities.Expects a modest second closing of the funding round in the next month that will include new strategic investors in addition to further commitments from existing investors.The demand for alternative investment products/strategies is increasing with

For further details see:

Blue Owl, Noah Holdings, Golub invest in iCapital to expand alternatives investing