The deal will bring together more than Rs 85,000 crore in assets under management, with Blackstone remaining the majority shareholder.
ASK Investment Managers, an asset manager focused on portfolio management and alternative investments, will acquire SageOne Investment Managers, a portfolio management and alternative investment firm founded by investor Samit Vartak, the companies said on September 30.
Under the deal, Vartak will reinvest in ASK and take over as chief investment officer for equities of the combined business. He will continue to lead the investment function built around SageOne’s research-driven, high-conviction approach.
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