Kramer Levin Advises BlackRock in Strategic Investment in iCapital Network

Category: Defining Matters
Date: March 24, 2020
Title: Kramer Levin Advises BlackRock in Strategic Investment in iCapital Network

Kramer Levin advised BlackRock Inc. in a strategic investment in iCapital Network, a financial technology platform focused on driving access and efficiency in alternative investing. The investment was part of a $146 million capital raise, which iCapital intends to use to support future growth. Following this round, BlackRock, a long-standing strategic investor in iCapital, owns a significant minority stake in the company. Ping An Global Voyager Fund led the round, joined by new investors Goldman Sachs, Affiliated Managers Group, Hamilton Lane and WestCap. Existing investors that committed additional funding included UBS Financial Services Inc., BlackStone and BNY Mellon. The transaction closed in March of 2020.