Avendus to buy UK-based Ocean Dial Asset Management

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

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

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

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

Ranu Vohra, co-founder, managing director and chief executive officer, Avendus Capital, said: “The acquisition would help us scale up our public equities presence. As the public