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Komfie Manalo, Opalesque Asia:

Financial technology platform iCapital Network has entered into a definitive purchase agreement to acquire the US Private Equity Access Fund Platform from the asset management division of Deutsche Bank. iCapital Network aims to democratize alternative investments for high-net-worth (HNW) individuals and their advisors.

The transaction is expected to close before the end of 2017. Terms of the agreement were not disclosed.

"We see this deal as an important step forward in our mission to connect alternative asset managers with high-net-worth individuals, and are excited to work with a new universe of advisors and investors who can benefit from our state-of-the-art tech-enabled services," said Lawrence Calcano, chief executive officer of iCapital Network. "This strategic acquisition perfectly complements our existing business and brings with it an outstanding team of experienced professionals as well as expanded relationships with leading general partners, which will strengthen our value proposition to the marketplace and our growing investor network."

Deutsche Bank's U.S. Private Equity Access Fund Platform is comprised of 33 funds representing a range of investment strategies and underlying managers with approximately $2.5bn in invested assets and more than 7,000 domestic and international inves......................

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