What’s in it for SageOne and ASK in the acquisition?
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓ASK IM entered into agreements to acquire SageOne IM in September.
- ✓Founder Samit Vartak will serve as chief investment officer of the combined entity.
- ✓Vartak said, “Building a lasting institution requires us to retain our best people.” The deal helps SageOne expand its reach through ASK’s large, established distribution network.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Livemint
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
In September, ASK IM entered into agreements to acquire SageOne IM. Founder Samit Vartak will serve as chief investment officer of the combined entity. Rather than exit entirely, Vartak is exchanging his SageOne equity for a stake in ASK IM, locked in for five years. In addition, 80% of any cash consideration he receives will be reinvested in the combined business, a person with direct knowledge of the matter told Mint.
ASK IM, part of the ASK Group, manages ₹13,500 crore across its portfolio management services (PMS) and alternative investment funds (AIFs) businesses, according to its website. Vartak will oversee the combined investment portfolio, including SageOne’s assets. The combined entity will have assets of around ₹22,500 crore, based on the two firms’ current AUM.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
Livemint
Read the full, original unfiltered story directly on the publisher's portal.
This brief is for information only and is not investment advice. ArthNow is not a SEBI-registered investment adviser and does not publish buy or sell recommendations. Original reporting is credited to the publisher named above. Read our editorial policy or report an error.