iCapital, a global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, is to acquire and Stifel Financial Corp's alternative investment feeder fund platform.

Stifel’s feeder fund platform supports distribution of a suite of unique hedge fund strategies. Upon closing, iCapital’s white label technology will be leveraged to streamline and automate the onboarding, subscription processing and lifecycle operations for Stifel feeder funds, while providing support to Stifel’s advisors and their high-net-worth investors. 

Stifel will continue to source alternative investments for its clients and provide them with guidance on the role of alternative investments within a diversified investment strategy. Investors in these funds will remain clients of Stifel.

As part of the transaction, iCapital will offer employment to the team of Stifel employees who currently support operations for the feeder fund platform. The transitioning team will continue to support the fund portfolio and ensure the ongoing quality of service.

Terms of the deal, which is expected to close later this quarter, have not been disclosed.