Citigroup has agreed to sell its wealth alternatives unit, which advises a global alternative investment fund platform representing more than 180 funds, to fintech firm iCapital. This transaction is part of Citigroup's strategy to simplify its business operations. Following the acquisition, iCapital will provide an end-to-end technology solution for all alternative investment structures. Additionally, iCapital has launched iCorporate, a new firm specializing in mergers and acquisitions services, aimed at enhancing its advisory capabilities to better meet client needs. The announcement comes alongside other industry developments, including Capitolis launching a futures porting solution in collaboration with Barclays and Citadel, and the continuation of a strategic partnership between Options and SkyBridge Capital powered by AtlasWorkplace.