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Avendus to buy UK-based Ocean Dial Asset Management

Valuation remains undisclosed; Acquisition is subject to regulatory approvals in India, UK

Abhijit Lele  |  Mumbai 

Ranu Vohra, Managing Director and CEO of Avendus
Ranu Vohra, Managing Director and CEO of Avendus

KKR-backed financial services company Capital, has acquired Asset Management, a UK-based asset management company that manages £450 million in long-only equities across three funds. 

has signed a binding agreement to acquire 100 per cent shareholding from Raju Shukla, Chairman and MD, Investment Company, and the management team, said in a statement.

The valuation was undisclosed. The is subject to regulatory approvals in and the

Ranu Vohra, co-founder, managing director and chief executive officer, Capital, said: “The would help us scale up our public equities presence. As the public markets are deepening, there is a switch from mutual funds to alternative investment funds.”

The is synergistic and will work to make a bigger play by bringing in investors from other geographies into the fold.The majority shareholder of Capital are funds and investment vehicles managed or advised by global investment firm has grown from being a deal-maker of to a full-fledged financial services company by offering products in niche areas — alternative asset management, wealth management and structured credit solutions, over and above investment banking.

First Published: Thu, August 10 2017. 01:43 IST