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Prudent Corporate Advisory Services offering minority stake to TA Associates

ANI  |  Mumbai (Maharashtra) [India] 

Ltd ("Prudent"), a leading independent distributor of mutual fund and other wealth products, today announced that it has completed a process of offering minority investment in to TA Associates, a leading global growth firm. Financial terms of the transaction were not disclosed.

Founded in 2001, Prudent provides through the distribution of mutual funds, bonds, broking and The company operates of over 10,000 ("IFAs") and has in excess of 18,000 Cr of ("AUM").

Prudent provides its IFA partners with training and development services, to grow and manage their client-base, back-office services, and sales and marketing support. The company is headquartered in Ahmedabad, and operates a total of 70 branches across 19 states in

"With its IFA-centric model, multiple service offerings and robust technology platforms, we believe Prudent represents a unique and exciting investment opportunity," said Aditya Sharma, Senior Vice President, Advisory Private Limited, who will join the "We look forward to collaborating with the entire Prudent team to help take the company to the next level."

"TA's investment is a critical milestone for Prudent as we embark on our next phase of growth and seek to deepen our presence across multiple states and untapped markets," said Sanjay Shah, Founder and of "As an active and respected within the vertical, TA has developed a quality reputation of forming trust-based relationships with founders and management teams that lend themselves to positive results. It is evident that TA shares our vision to incorporate additional value creation for our customers and IFA partners, and we are thrilled to have them as part of the Prudent family."

The Indian industry's AUM has grown at a compounded annual growth rate (CAGR) of 18 percent over the last 10 years. As of the end of March 2018, the industry had a total AUM of approximately $338 billion. Furthermore, according to AMFI, the industry's AUM is expected to grow at a 23 percent CAGR for the next 5 years and reach $936 billion by 2023.

"Due to growing awareness and increasing mutual fund penetration, we anticipate that the Indian space will experience significant long-term growth," said Dhiraj Poddar, of at Advisory Private Limited who also will join the "Because of this trend, we have spent a fair amount of time and resources tracking the Indian asset management, distribution and allied services space. We believe that Prudent is well-positioned to capitalize in this large and developing marketplace and can provide notable benefits to India's growing sector."

"Since Prudent's founding, we have strived to provide the highest and training programs for our network of IFAs to ensure that we are positioning them for success," said Shirish Patel, of "With TA's investment, we will look to scale the to meet the evolving needs and goals of our dedicated client base. We welcome TA as an in Prudent and are eager to begin working with their talented team of investment and operating professionals."

DSK Legal provided to provided to Prudent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, July 14 2018. 13:15 IST