Interdealer broker ICAP is bolstering its alternative investments business and has hired twin sisters Laura and Linda Prager to co-lead the new group, created to facilitate secondary market trading in hedge funds, private equity funds, real estate funds and other common illiquid assets.

For sellers, ICAP hopes to provide liquidity for otherwise illiquid positions. The new venture will also grant purchasers access to mark-to-market priced limited partnership interests and other illiquid assets, shorter investment horizons and a means to rebalance their portfolio.

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