Bank of America invests in iCapital at $6 bln valuation

Bank of America Corp. has made an undisclosed investment in iCapital, a private equity-backed financial technology company in the alternatives space, the company said Thursday. Bank of America invested in iCapital at the same company value as iCapital’s funding round in December, when it disclosed an enterprise value of $6 billion with backing from Apollo Global Management and WestCap, the company said. Other past investors in iCapital include Blackstone Group , KKR & Co. Inc. and the Carlyle Group .

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