Laura Prager and Linda Prager have joined interdealer broker ICAP PLC, as co-heads and managing director of a new alternative investments group that will serve as a secondaries intermediary. Laura previously founded LP Strategic Capital, while Linda was US head of Citiy’s prime brokerage business consulting practice. The two are sisters.
ICAP Plc (IAP.L), the world’s premier interdealer broker, has expanded its alternative investments business with the hires of Laura Prager and Linda Prager, who will act as Co-Heads and Managing Directors of the Alternative Investments Group. The Alternative Investments Group will provide personal and strategic assistance to investors interested in buying and selling secondary interests in hedge funds, private equity funds, real estate funds and other illiquid assets. The Group’s goal is to provide sellers of illiquid positions the ability to gain liquidity, rebalance portfolios and/or reduce exposure to distressed assets. For purchasers, the Group will provide access to mark-to-market priced limited partnership interests and other illiquid products, positions with shorter investment horizons, and a channel for rebalancing portfolios.
Doug Rhoten, Chief Executive Officer of ICAP Americas, said: “The secondary markets are an exciting area and we look forward to expanding the ICAP platform with the addition our new Alternative Investments Group.”
ICAP’s Alternative Investments Group does not list funds for sale on an online (website) market place nor does it auction portfolios or funds. The Alternative Investments Group has deep subject matter expertise in each of the private equity, hedge funds and real estate markets, and is known for its personal strategic assistance of investors and/or sellers of illiquid positions. ICAP’s team works personally and efficiently with its buyers and sellers, taking into account each party’s investment criteria, and conveying where appropriate pricing guidance and custom/structured solutions presented by the parties.
“We are extremely excited about joining the ICAP family, and our diverse backgrounds, knowledge and contacts in the investment and general partner community will be invaluable to our providing a premium service to new and existing ICAP customers,” stated Linda Prager.
The Alternative Investments Group is a global practice, whose relationships include hedge funds, private equity funds, real estate funds, banks, family offices, ultra high net worth individuals, funds of funds, pension funds, discretionary fund managers, endowments, advisors/consultants, and other entities interested in purchasing and/or paring limited partnership interests in funds and/or positions in other assets. The Group is based in Jersey City, New Jersey.
ICAP is the world’s premier interdealer broker and provider of post trade services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP has an average daily transaction volume in excess of $2.3 trillion, more than 40% of which is electronic. ICAP is also the source of global market information and research for professionals in the international financial markets. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com.