AZB & Partners is acting for KFin Technologies Limited on its proposed acquisition of a 51% controlling stake, with a path to 100% ownership over the next 5 years, in Ascent Fund Services Pte. Ltd. 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 acquisition shall expedite KFintech’s entry into the fast growing and large market of global fund administration industry having more than US$12 billion annual revenue pool. The transaction is subject to customary regulatory approvals.
Our deal team comprised our Senior Partner Divya Mundra, Partner Devika Nayak, Associates Abhishek Gaur, Pragya Dixit and Vikrant Dwivedi. They were supported by our Senior Partner Bharat V Budholia and Associate Ashna Mahajan on competition law aspects.