Prime Quadrant selects iCapital as fund manager for HNWIs

“We believe that the multi-family office, independent RIAs, and the dealer wealth channel represent an outstanding opportunity for us to create industry-leading solutions.”

Prime Quadrant, an advisor and consulting firm for ultra-high-net-worth families in both Canada and the United States, has appointed iCapital as Investment Fund Manager in Canada.

iCapital will provide all administrative functions associated with managing Prime Quadrant Alternative Investment Access Funds.

iCapital supports firms in the independent wealth space

This partnership represents the type of opportunities iCapital can provide for firms in the independent wealth space to more efficiently scale their alternative investing businesses, the company stated.

iCapital Canada assumes the administrative functions associated with the running of alternative funds for Prime Quadrant’s clients, while Prime Quadrant remains the portfolio manager handling the selection of the underlying investment managers and strategies.

Prime Quadrant’s platform includes private equity, real estate, private debt, venture capital, and hedge fund Access funds. The firm will leverage iCapital to streamline and automate the onboarding, subscription processing, and lifecycle operations for Prime Quadrant Access funds while providing support to the firm and its ultra-high-net-worth clients.

In addition to managing Prime Quadrant’s existing alternatives Access funds, iCapital Canada will provide administrative support to the firm when launching new alternatives products in the future.

Simplifying post-trade management activities for high-net-worth families

Lawrence Calcano, Chairman and CEO of iCapital, said: “Prime Quadrant is an innovative industry leader within the high-net-worth community, and iCapital is honored to be entrusted with the investment fund management responsibilities of their Access funds. We believe that the multi-family office, independent RIAs, and the dealer wealth channel represent an outstanding opportunity for us to create industry-leading solutions. Our goal is to provide a single platform that utilizes our market-leading technology and operating system, offering advisors the tools they need to achieve better scale and efficiency for their alternatives business.”

Mo Lidsky, Chief Executive Officer of Prime Quadrant, commented: “Our relationship with iCapital will ensure Prime Quadrant can scale its ability to meet and exceed our clients’ expectations by leveraging iCapital’s technology and resources to continue developing creative solutions for our families. We are excited to benefit from iCapital’s complete end-to-end solution and operating system to help simplify the many post-trade management activities for our families.”

The move comes on the heels of the recent appointment of Magdalena Pandiloska as Chief Marketing Officer to help drive its worldwide growth. Pandiloska joined the firm’s management committee and will report to Lawrence Calcano, iCapital’s Chairman and CEO. Concurrently, Christine Dusek takes on the role of Senior Vice President, Global Head of Communications, reporting to Pandiloska.

The partnership further positions iCapital Canada as a trusted technology partner to deliver a comprehensive digital investing experience for Canada’s leading wealth advisors and asset managers. The company serves more than 40 Canadian funds and recently signed a deal with Sterling Global.