iCapital® Acquires Hexure to Create the Industry’s First End-to-End Annuity and Insurance Technology Platform

The acquisition empowers financial advisors, distributors, and insurance carriers with a single integrated platform

NEW YORK--(BUSINESS WIRE)--iCapital¹, the global fintech company shaping the future of investing, today announced that it has entered into a definitive agreement to acquire Hexure, a trusted leader in digital and AI-powered sales automation solutions for insurance, financial services, and wealth management. This acquisition advances iCapital’s strategy to create the industry’s first truly end-to-end annuity and insurance technology platform—natively connected to iCapital’s alternatives and structured investments platform—delivering a single operating system that supports the full lifecycle, from discovery and education through order entry and post-sale servicing.

The insurance and alternatives markets are increasingly converging, reshaping capital access and the delivery of investment solutions. Carriers, asset managers, and distributors are working more closely together to offer alternative strategies through insurance-based structures that help financial advisors focus on core client needs—retirement income, tax efficiency, and long-term diversification. Technology is central to enabling this collaboration at scale, supporting education, sales, compliance, and post-sale servicing across the full lifecycle.

“iCapital offers the integrated technology platform that serves as an operating system for alternative investments, structured investments, and annuities—supported by world-class infrastructure and informed by deep insights and data intelligence. With Hexure’s software solutions, we will support the insurance ecosystem end-to-end, from front-end innovation through seamless back-end execution,” said Lawrence Calcano, Chairman and CEO of iCapital. “This strategic acquisition expands our reach and deepens our technology capabilities, unlocking new opportunities to better serve our clients and the broader industry as a whole.”

By combining iCapital’s annuity marketplace, education, and investment lifecycle management solutions and tools with Hexure’s market-leading e-application, illustration, and post-sale workflow technology, iCapital is helping unify a historically fragmented annuity and insurance ecosystem into one connected platform with a seamless investment experience for the industry.

“Joining iCapital allows us to significantly extend the reach and impact of our technology and deliver even greater value to our clients,” said Bill Lucchini, Chief Executive Officer of Hexure. “The progress our team has made positions Hexure well for this exciting new chapter. Together, we will enable critical sales and servicing workflows—helping firms operate more efficiently, scale with confidence, and better serve end investors.”

“The insurance, alternatives, and wealth ecosystems are increasingly interconnected, creating demand for technology that simplifies how products are delivered and managed,” said Ganesh Rao, Managing Director and Head of Financial Services & Technology and Ed Shahnasarian, Managing Director, THL Partners, the majority investor in Hexure. “The company has been at the forefront of digitizing the insurance sales and servicing lifecycle, and we are proud of the progress the team achieved during our partnership. We believe iCapital provides an ideal strategic home to scale Hexure’s capabilities and help deliver a truly integrated platform for the industry.”

Hexure’s FireLight digital sales platform and ForeSight illustration technology will be integrated into iCapital’s broader platform, expanding annuity and life insurance support at scale.

Hexure’s products, teams, and partnerships will continue to serve carriers and distributors, supported by iCapital’s broader platform and resources. For customers of both companies, the combination simplifies how insurance and investment products are accessed and managed through a more connected platform—while maintaining an open‑architecture approach to third‑party solutions and partner flexibility across the ecosystem.

Terms of the transaction were not disclosed.

BofA Securities served as financial advisor to iCapital.

About iCapital
iCapital is a global leader, shaping the future of global investing for financial advisors, wealth managers, asset managers, insurance carriers, and other industry participants. iCapital offers a diverse and complete range of non-traditional investment products on iCapital Marketplace, Enterprise Solutions, and both Technology and Data Services, designed to help drive better outcomes² for all participants in the ecosystem.

With strategic investment from leading alternative asset managers, wealth managers, and service providers globally, iCapital provides broad access, data connectivity, education, and research programs to advisors and their clients. Leveraging AI and machine learning for digital identity (KYC/AML), iCapital supports compliant and secure investment lifecycle processes.

iCapital’s end-to-end platform manages the lifecycle of non-traditional investment products, making it easier to learn about, buy, manage, and integrate alternative assets, structured investments, and annuities into portfolios, driving growth, scale, and efficiency. Our solution(s) can be customized and offers specific modules as needed.

iCapital has more than $1.14 trillion³ of assets serviced globally on its platform, including $300.6 billion in alternative platform assets, $251.4 billion in structured investments and annuities outstanding, and $589.4 billion in client assets reported on, and serves over 3,300 wealth management firms and 123,000 active financial professionals.

Headquartered in New York and Greenwich, CT, iCapital operates globally with 18 offices, including major hubs in Zurich, London, Hong Kong, Singapore, Tokyo, Sydney, Abu Dhabi and Toronto, and an industry-leading R&D center in Lisbon. iCapital is recognized for its innovation and leadership, with accolades from Euromoney (World’s Best Technology Provider for Wealth Management), CNBC (World’s Top Fintech Companies), and Forbes Fintech 50.

For more information, visit https://icapital.com | X (Twitter): @icapitalnetwork | LinkedIn: https://www.linkedin.com/company/icapital-network-inc

About Hexure
Hexure is the trusted leader in digital and AI-powered sales automation solutions for insurance, financial services, and wealth management. They help carriers and distributors transform how they sell and service products with technology that accelerates submissions, speeds time to market, and delivers fully digital, compliant workflows. Their solutions improve accuracy, eliminate paper processes, and drive revenue growth. With proven expertise and a commitment to innovation, Hexure’s integrated AI-driven capabilities deliver smarter experiences and greater efficiency, helping carriers and distributors stay competitive in a rapidly evolving market.

THL Partners, a Boston-based private equity firm, is Hexure’s current majority investor.

IMPORTANT INFORMATION: This material has been provided to you for informational purposes only by iCapital, Inc. and/or one of its affiliates including Institutional Capital Network, Inc. (collectively, “iCapital”). This material is the property of iCapital. This is not intended as and may not be relied on in any manner as, legal, tax or investment advice, a recommendation to employ a specific investment strategy, or as an offer to sell, a solicitation of an offer to purchase, or a recommendation of any interest in any fund or security. Securities products and services are offered through iCapital Markets LLC, a registered broker/dealer, FINRA and SIPC. Financial products made available by iCapital Markets LLC may be complex and/or speculative and are not suitable for all investors. iCapital Advisors, LLC is an investment adviser registered with the Securities and Exchange Commission and acts as an adviser to certain privately offered investment funds. “iCapital” and “iCapital Network” are registered trademarks of Institutional Capital Network, Inc.

¹ iCapital, Inc. together with its affiliates, "iCapital"

² iCapital delivers better outcomes by streamlining financial operations, enhancing technology infrastructure, and empowering smarter decision-making through reporting and analytics.

³ As of January 31, 2026

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