Gov. Lamont announces iCapital Network will expand to Greenwich location, create 200 new jobs
Gov. Ned Lamont announced Thursday morning that iCapital Network will expand its operations by opening an office in Greenwich. The move will create 200 jobs in the state over the next two years.
The company is the leading global financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries.
"We are excited to welcome iCapital to Connecticut, and I congratulate them on their decision to invest and grow in our state," Gov. Lamont said. "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."
The Greenwich office will open this fall at Two Greenwich Plaza. The company is actively recruiting for the Connecticut location across technology, client services, finance, and legal and compliance jobs.
The Connecticut Department of Economic and Community Development is supporting the expansion with "earn-as-you-grow" incentives that provide grants in arrears, as job targets are reached.
Department of Economic and Community Development Commissioner David Lehman said, "Connecticut has a lot to offer to financial technology companies – a top-flight workforce and a culture of innovation just to name a few."
Founded in 2013 in New York City, iCapital has transformed the way the wealth management, banking, and asset management industries facilitate access to private markets investments for their high-net-worth clients by providing intuitive, end-to-end technology and service solutions.
Wealth management firms use iCapital's solutions to provide clients with funds at lower minimums and simplified digital workflows. Asset managers and banks leverage iCapital's technology to streamline and scale their private investments operational infrastructure.
"iCapital's decision to open an office in town reinforces Greenwich's position as a premier location to do business," Greenwich First Selectman Fred Camillo said. "I welcome Mr. Calcano and his company as they join the many financial firms that call Greenwich, Connecticut home."
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 was recognized on the Forbes FinTech 50 list in 2018, 2019, 2020, and 2021, the Forbes America's Best Startup Employers in 2021, and MMI/Barron's Industry Awards as Solutions Provider of the Year in 2020.