A Cardiff-based provider of white-label operating systems for private markets distribution and report, which was founded by an Insider Rising Star, has been bought by a WestCap-backed US firm.
Delio has been bought by iAltA Holdings, a New York-based private markets infrastructure company.
Delio provides the operating systems and investment structures that enable asset managers, wealth firms and other distributors to digitize, distribute, and report on private market products.
Its Delio Core OS leverages configurable, low-code tools and modules to commoditize the technologies and workflows needed to deliver a market leading digital client experience within alternative investing.
This was said to make Delio an ideal addition to iAltA’s growing suite of services.
“Private markets have seen tremendous growth over the past few years, but the infrastructure has not kept up the demand for access and offerings,” said Gareth Lewis, founder and co-chief executive of Delio. “iAltA is our ideal partner since both our organizations were founded on the principle that the markets need more seamless and effective solutions to meet the challenges of demand. This partnership will increase both our reach and our impact.”
iAltA was launched in 2025 by founding partners Scott Ganeles, Bill Sherman, Bill Crager and Laurence Tosi.
Scott Ganeles, chief executive and founding partner of iAltA, said: “We founded iAltA because we saw a tremendous market need to solve systemic issues within the private market landscape for general partners and distributors.
“Delio has emerged as a digital infrastructure provider of choice for financial institutions seeking to integrate alternatives into their offerings while maintaining control over client experience.”
Cllr Russell Goodaway, cabinet member for investment and development in Cardiff Council, said: “Cardiff Council is delighted to have worked with the local Delio team to support their plans to create more business space in the centre of Cardiff.
“Given the opportunity for expansion locally, Goodway said he hopes the acquisition “will lead to further growth in employment in the City and a strengthening of Cardiff’s leading role as a Fintech growth centre in Wales and the UK.”