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

iCapital¹, the global fintech company shaping the future of investing, 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.

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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.

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