iCapital Network® to Acquire Axio Financial, a Leading Service Provider to the U.S. Structured Notes Market

Expands iCapital’s suite of alternative investments available to financial advisors and augments distribution capabilities

Strengthens commitment to financial advisor education

NEW YORK--()--iCapital Network1, the leading global financial technology platform driving access and efficiency in alternative investing for the asset and wealth management industries, and Axio Financial LLC (Axio), a leading end-to-end service provider to the U.S. structured notes market, today announced they have entered into a definitive agreement under which iCapital will acquire Axio. The acquisition will expand iCapital’s menu of alternative investment strategies, technology stack, educational offerings, and support services for financial advisors. It will also enhance iCapital’s distribution capabilities to support fund managers. Today, iCapital services more than $86 billion in global client assets across more than 790 funds.

Founded in 2010, Axio provides financial advisors with support in the evaluation, selection, and purchase of structured notes to complement the investment portfolios of their clients. Axio’s full-service solution is integrated with the industry’s leading domestic and international bank issuers of structured notes and various ecosystem providers. Axio leverages real-time data, analytics, and reporting interfaces to meet the diverse requirements related to the full structured note lifecycle. In addition, Axio serves both issuers and financial advisors with customized and knowledgeable distribution support fueled by state-of-the-art CRM technology.

In the US, more than $72 billion in structured notes were issued in 2020, an increase of 36% as compared to the prior year2, with 2021 issuances expected to reach $86 billion.3 Axio is expected to exceed $9 billion in issuances in 2021.

“iCapital is committed to being the single, comprehensive source for financial advisors seeking alternative investment opportunities to optimize portfolio performance. Advisors considering structured notes for their high-net-worth clients need best-in-class access, education, consultative support and enabling technology such as iCapital provides for other alternative offerings. Axio’s position as a leader in this market makes them an ideal enhancement to our already robust platform and product offerings,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital Network. “We are thrilled to welcome the talented Axio team to iCapital.”

Under the agreement, Marc Paley, CEO, and the entire Axio team will join iCapital. As Managing Director, Head of Distribution, Marc will report to Mr. Calcano, and maintain his responsibilities as leader of the Axio team, providing advisors with comprehensive support in their consideration of structured notes as well as iCapital’s full menu of alternative investments.

Similar to other alternative investments, structured notes require thorough advisor education and support alongside technology that eases access, which iCapital will continue to provide and enhance within the framework of its end-to-end alternatives platform.

“The Axio team is excited about the intuitive synergies and the common purpose driving both Axio and iCapital, and we’re thrilled to combine our efforts to serve financial advisors and their clients,” said Marc Paley, CEO of Axio. “I look forward to working together to integrate and continue to achieve our objectives.”

iCapital’s purchase of Axio is the most recent step in the firm’s commitment to expand the scope of strategies and product types available on its alternative investment platform and enhance platform technology to serve wealth advisors and their clients. This month, iCapital announced that financial advisors would have access to digital currencies on the iCapital platform through a partnership with Grayscale Investments. Earlier this year, iCapital completed its acquisition of AI Insight to bolster its Alternative Investments education and compliance offerings for financial advisors.

In February, it also announced a partnership with the Chartered Alternative Investment Analyst (CAIA) Association, to launch AltsEdgeTM, a comprehensive education initiative designed to help advisors better understand alternative investments and how they can leverage these products via a series of guided modules. iCapital continues to look for opportunities and resources to help advisors expand their mastery of complex products and offer tools to help integrate them into client portfolios.

The transaction is expected to close in Q4 2021 after receipt of necessary regulatory approvals. Terms of the agreement were not disclosed.

About iCapital Network
Founded in 2013 in NYC, iCapital Network is the leading global financial technology company powering the world’s alternative investment marketplace. It has transformed the way the wealth management, banking, and asset management industries facilitate access to private markets investments for their high-net-worth clients by providing intuitive, end-to-end technology and service solutions. Wealth management firms use iCapital’s solutions to provide clients with quality funds at lower minimums and simplified digital workflows. Asset managers and banks leverage iCapital’s technology to streamline and scale their private investments operational infrastructure. Additionally, the iCapital ‘flagship’ platform offers financial advisors and their high-net-worth clients’ access to a curated menu of private equity, private credit, hedge funds, and other alternative investments to help meet their investing needs for return and diversification. iCapital’s research and diligence team offers robust analysis alongside the firm’s extensive suite of advisor education, compliance, portfolio management, and portfolio analytics tools and services. iCapital was recognized on the Forbes FinTech 50 list in 2018, 2019, 2020 and 2021, the Forbes America’s Best Startup Employers in 2021, and MMI/Barron’s Industry Awards as Solutions Provider of the Year in 2020. As of August 30, 2021, iCapital services more than $86 billion in global client assets across more than 790 funds. Employing more than 550 people globally, iCapital is headquartered in NYC and has offices in Zurich, London, Lisbon, and Hong Kong.

For additional information, please visit iCapital Network’s website at www.icapitalnetwork.com | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Twitter: @icapitalnetwork

See disclosures here.

About Axio Financial
Axio provides customized value-added services throughout the full Structured Note lifecycle from idea generation through maturity or secondary market trade. Axio specializes in providing calendar and custom structured notes optimized for today’s low yield environment, empowering RIAs in their efforts to maximize client portfolio return and diversification. Founded in 2010, Axio couples traditional, in-person support practices with technology to drive increased outreach, product education and awareness. Leveraging its sales acceleration platform and proprietary data profiles on 300k+ financial advisors in the United States, Axio identifies and builds personal client relationships while simultaneously decreasing the cost of distribution. Axio employs nearly 80 people across the United States, with headquarters in New York and offices in Delray Beach, Florida and Toronto, Canada.

Ardea Partners LP is serving as financial advisor to Axio, and Kirkland & Ellis LLP is serving as legal advisor to Axio. Ropes & Gray LLP is serving as legal advisor to iCapital.

1 Institutional Capital Network, Inc., and its affiliates (herein “iCapital Network”, “iCapital” or “the Company”)

2 Structured Products Weekly, By Prospect News – see here

3 Structured Products Daily, By Prospect News – see here


Emma Murphy / Morgan Miller
+1 347-968-6800 / +1 919-602-2806

Release Summary

The acquisition will expand iCapital’s menu of strategies, technology stack, educational offerings, and support services for financial advisors.

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Emma Murphy / Morgan Miller
+1 347-968-6800 / +1 919-602-2806