In addition, Wells Fargo is making a strategic investment in iCapital. Since 2006, the Wells Fargo GAI Feeder Fund Platform has offered investment options to brokerage and wealth management clients through feeder funds that invest in external funds or portfolio companies. Clients can invest in private equity, private debt, hedge funds, private real estate, and direct private investments across approximately 70 investment vehicles.
WFII decided to partner with iCapital to ensure an investment solution for clients that was effective and expedient. As part of the transaction, iCapital will offer employment to Wells Fargo employees who support operations for the GAI Feeder Fund Platform. The transaction is expected to close during the second half of 2020.
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