Interdealer broker ICAP is expanding its alternative investments business with the hires of Laura Prager and Linda Prager, who will act as co-heads and managing directors of its Alternative Investments Group.

The Alternative Investments Group provides 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 will also provide purchasers with access to mark-to-market priced limited partnership interests and other illiquid products, positions with shorter investment horizons and a channel for rebalancing portfolios.

In a statement, 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."

Added Linda Prager, "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."

The Alternative Investments Group is a global practice and is based in Jersey City, New Jersey.