Ropes & Gray advised iCapital Network in the transaction, while Mintz Levin served as the legal advisor for AlphaCore.
AlphaCore Wealth Advisory, a leading wealth advisor firm focused on allocating to traditional and alternative investments, secured the rights to acquire the Private Client Group (PCG), a team directly serving high-net-worth clients, from iCapital Network1.
In the same transaction, AlphaCore divested factorE, a portfolio tool which helps advisors assess the performance and risk of alternative holdings, to iCapital. Terms of the agreement were not disclosed.
The right to acquire the PCG team was granted to iCapital Network as part of the firm’s recent acquisition of Artivest.
The PCG team, based in La Jolla, is composed of six seasoned investment professionals and serves over 600 high net-worth family relationships.
AlphaCore is a leading wealth advisor firm focused on allocating to traditional and alternative investments.
The Ropes & Gray team that represented iCapital Network was led by asset management partner Michael Doherty (Picture) and private equity partner Scott Abramowitz (both of New York), and included employment, executive compensation & benefits partner Joshua Lichtenstein (New York), asset management partner Brynn Rail (New York) and tax partner James Brown.
Law Firms: Ropes & Gray;
Clients: iCapital Network;