Institutional Capital Network, Inc. entered into a definitive agreement to acquire Alternative Investment Feeder Fund Platform from Stifel Financial Corp. (NYSE:SF).

Institutional Capital Network, Inc. entered into a definitive agreement to acquire Alternative Investment Feeder Fund Platform from Stifel Financial Corp. (NYSE:SF) on March 10, 2022. As part of the transaction, iCapital will offer employment to the team of Stifel employees who currently support operations for the feeder fund platform.

The transitioning team will continue to support the fund portfolio and ensure the ongoing quality of service. Stifel will continue to source alternative investments for its clients and provide them with guidance on the role of alternative investments within a diversified investment strategy. Investors in these funds will remain clients of Stifel.

The transaction is expected to close later this quarter.