ASK Investment Managers to acquire SageOne in ₹2,000 crore deal
SageOne founder Samit Vartak will reinvest in ASK and become Chief Investment Officer (Equities) for the combined investment management platform
ASK Investment Managers (ASK IM) has reached a definitive agreement to acquire SageOne Investment Managers for approximately ₹2,000 crore, or about $200 million, according to an industry source. The deal, which is still pending regulatory and investor approvals, brings together two prominent asset management firms. SageOne founder Samit Vartak will become Chief Investment Officer (Equities) for the combined entity.
Blackstone, which controls ASK, will maintain its majority ownership. The merged platform will manage over ₹85,000 crore in assets, with SageOne already overseeing nearly ₹9,000 crore and ASK's asset and wealth management group managing more than ₹77,000 crore. SageOne's flagship fund, SageOne Core Portfolio, has generated annualised returns of 25.3 per cent since April 2012, compared to 13.8 per cent for the BSE 500 TRI during the same period.
Vartak's 25 years of investment experience will bolster the merged platform's capabilities. The acquisition enhances ASK's equity investment strengths and allows SageOne to leverage ASK's global distribution network in Asia, the Middle East, Africa, and Europe.
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