KFintech to acquire Ascent Fund Services to expand into fast growing Global Fund Administration market

#KFintechAscentFundServices

Chandigarh: KFin Technologies Limited (“KFintech”), a leading provider of investor and issuer solutions to global asset managers, has entered into a definitive agreement with Ascent Fund Services Pte. Ltd (“Ascent”) to acquire controlling stake of 51% for US$ 34.7 million, with a path to 100% ownership over the next five years. Post this transaction, KFintech will become the sole promoter of Ascent, and the residual 49% stake will be acquired in three equal tranches of 16.33% each after the end of fiscal year 2028, 2029, and 2030 respectively. The transaction is subject to customary regulatory approvals.

Headquartered in Singapore, Ascent is a fast growing full-suite global fund administrator, having clients across 18 geographies, serving 260 global alternative asset managers managing 576 funds, across all asset-classes, with US$ 24 billion assets under administration. The Company is backed by strong pedigree of founding team and senior management with multiple decades of industry experience.

Mr. Sreekanth Nadella, Managing Director and Chief Executive Officer of KFintech, said, “We are thrilled to announce the acquisition of Ascent Fund Services. Ascent’s global footprint, deep domain expertise, client-centric approach, and ambitious team share our passion and vision for diversified and sustainable growth, and innovation. The partnership will be a force multiplier of KFintech’s vision to become the first global fund administrator from India across all asset classes and all business processes.”

Mr. Kaushal Mandalia, Co-Founder and Group Executive Chairman, Ascent said, “This acquisition marks a pivotal milestone for our group, strengthening our foundation for long-term success. I am confident that it will empower us to deliver even greater value to our clients, employees, and stakeholders. With this transformation, we are not just expanding, we are redefining fund administration.”

Mr. Jaideep Mukhariya, Co-Founder and Group CEO, Ascent added, “This acquisition marks an exciting new chapter for our group which represents a strategic and transformative step in strengthening our position in the industry. We are confident that this acquisition will enable us to offer enhanced solutions and services to our clients, while continuing to lead the industry in quality and innovation.”

Mr. Samuel Chen, Co-Founder and Group COO, Ascent added, “This acquisition marks a transformative step that will propel our group into a new era of growth, innovation, and customer success. Together, we now have an even greater ability to drive innovation, enhance operational efficiencies, invest in cutting-edge technologies and expand our service offerings.”