iCapital plans Singapore hiring as AI generates 75% of its code

iCapital intends to expand its Singapore product and engineering teams despite generating 75% of its code with AI, chief executive Lawrence Calcano told The Business Times. The alternative investments platform, headquartered in New York, also applies the technology to testing and quality assurance.

Calcano said AI offered opportunities to operate more efficiently, broaden capabilities and make services easier for clients to use. The company said its technology investment since founding exceeds US$1 billion, covering areas including education, administration, reporting and liquidity.

The company’s 2026 Asia Advisor Survey pointed to demand for portfolio analysis and management tools beyond basic private-market access. Risk analytics ranked as Asian advisers’ leading technology priority, while compliance was the challenge growing fastest. Calcano said clients’ differing needs required both large-scale technology and tailored solutions.

The survey also found that more than a quarter of advisers intended to raise alternative investment allocations over the next 12 months. Interest in private credit dropped to 48% from 71%, a decline of 23 percentage points, while real assets attracted greater interest among Asian investors.

Newly appointed Head of International Brooks Entwistle described Singapore as an important operational hub. iCapital is also exploring annuities and insurance, and may build further capabilities in Singapore or Zurich to support those offerings.