Bill Crager, the former CEO and co-founder of Envestnet, has joined the private markets infrastructure company iAltA Holdings as a founding member.
iAltA, which is backed by the private equity firm WestCap, was formally launched in May and seeks to deploy what its leaders describe as a "distinctive holding structure," wherein each subsidiary operates independently while contributing to the umbrella company’s overall strategy.
In a statement, Crager said he is eager to work with the iAltA team to deliver on “the next-generation capabilities … the wealth space is looking for.”
“iAltA is building at the intersection of powerful industry forces — the scale and growth of the wealth channel, expanded access to private markets, and a generational shift in how technology is applied,” Crager said. “I’m excited to harness this convergence to shape what’s next.”
At Envestnet, Crager helped to scale the platform to serve more than 107,000 advisors and support over $5.4 trillion in assets under management. He left the firm in 2024 as it faced operational challenges before entering into an agreement to be bought by Bain Capital. The transaction valued the company at $4.5 billion — $3.5 billion in equity and $1.0 billion in debt.
Scott Ganeles, iAltA CEO, called Crager a “true visionary” who helped to build one of the largest technology and service platforms in the wealth management industry.
“We couldn’t be more pleased to welcome him to the team as we look to scale and break new ground,” Ganeles said.
Pictured: Bill Crager
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