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Bailey McCann, Opalesque New York:

FinTech company iCapital Network has acquired the US Private Equity Access Fund Platform from the Asset Management division of Deutsche Bank. The US Private Equity Access Fund Platform is comprised of 33 fund families representing 53 onshore and offshore vehicles and $2.8 billion in capital across more than 7,200 domestic and international investor accounts.

iCapital has assumed management of the fund portfolio and will also maintain relationships with the funds' third-party service providers. The company says it plans to use the iCapital platform to automate much of the fund administration process.

Additionally, iCapital has hired 15 employees from Deutsche Asset Management who will continue to manage funds and support investors in the US Private Equity Access Fund Platform and will ensure a smooth transition for clients.

Wes Sturdevant has been named Managing Director of iCapital and will focus on strategic business development and relationship management with key clients. Previously, Mr. Sturdevant was a Director and Head of the US Private Equity Access Fund Platform at Deutsche Asset Management, where he oversaw structuring and distribution to wealth management clients globally. Prior to joining Deutsche Bank in 2000, Mr. Sturdevant was with Goldman, Sachs & Co.

"We're witnessing tremendous wealth creation all around the world and increasing demand from the global high-net-worth community for access to high quality alt......................

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