iCapital has signed a definitive agreement to purchase Hexure. This strategic move is designed to establish the first fully integrated technology system dedicated to annuities and insurance products, seamlessly linked with iCapital’s existing infrastructure for alternative and structured investments.
The initiative creates a single operating environment that guides users through every phase of the process—from initial product discovery and educational resources to streamlined order processing and ongoing client servicing.
Announced March 17, 2026, the deal reflects the accelerating convergence of insurance and alternative investment markets.
Carriers, asset managers, and distributors are increasingly partnering to package sophisticated strategies inside insurance structures, helping advisors address client priorities such as reliable retirement income, tax optimization, and long-term portfolio balance.
Sophisticated technology is now essential to scale education, compliance, sales execution, and post-issuance support across this expanded ecosystem.
iCapital has established itself as a global fintech, providing a comprehensive operating system for non-traditional investments.
Supported by world-class data intelligence and infrastructure, the firm delivers tailored solutions for wealth managers and advisors worldwide.
As of late January 2026, iCapital manages more than $1.14 trillion in total assets serviced, including substantial holdings in alternative platforms and structured products.
The company supports over 3,300 wealth management firms and 123,000 active financial professionals through an international network spanning major hubs on multiple continents.
Hexure stands out for its advanced digital and AI-powered automation tools tailored to insurance, financial services, and wealth management.
Its solutions accelerate application submissions, shorten time-to-market for new offerings, and deliver compliant digital workflows that eliminate paper-based processes while improving accuracy and driving revenue.
Flagship products such as the FireLight sales platform and ForeSight illustration engine will be incorporated directly into iCapital’s broader system, significantly expanding annuity and life insurance capabilities at enterprise scale.
The unified platform will merge iCapital’s annuity marketplace, learning tools, and full-lifecycle management features with Hexure’s electronic applications, visualization systems, and after-sale workflows.
This integration simplifies operations for advisors, distributors, and carriers while maintaining an open architecture that accommodates third-party partners and preserves flexibility across the industry.
iCapital Chairman and CEO Lawrence Calcano noted that the combination extends the firm’s platform to cover the complete insurance spectrum, linking front-end innovation with efficient back-end execution and creating fresh opportunities to serve clients and the wider sector.
Hexure CEO Bill Lucchini added that the partnership will amplify the reach of their technology, helping firms operate more efficiently, expand confidently, and deliver superior experiences to investors.
Leaders at THL Partners, Hexure’s majority investor, highlighted the growing interconnections among insurance, alternatives, and wealth management.
They view iCapital as the ideal partner to scale these capabilities and deliver a truly connected platform for the industry.
Although transaction terms were not disclosed, with BofA Securities acting as financial advisor to iCapital, the acquisition signals a decisive step toward reducing fragmentation.
By combining strengths, the companies aim to enhance operational efficiency, ensure regulatory compliance, and generate stronger outcomes for all participants in an evolving financial services environment.
