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 Company is backed by strong pedigree of founding team and senior management with multiple decades of industry experience, deep operational expertise and proven track record of continuous client acquisition. 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. Ascent will help KFintech to gain an immediate and scaled access to global fund administration market with requisite licenses / permits to render services across multiple international jurisdictions, diversified portfolio of clients, sticky and recurring revenue, and experienced team possessing strong domain expertise. Ascent’s client acquisition and service capability backed by KFintech’s technology finesse and operational efficiency will enhance the duo’s ability to partner with funds throughout a fund lifecycle, and to become a single point provider of global fund services.

Mr. Sreekanth Nadella, Managing Director and Chief Executive Officer of KFintech, said, “We are thrilled to announce the acquisition of Ascent Fund Services. Ascent’s global footprint, deep domain expertise, client-centric approach, and ambitious team share our passion and vision for diversified and sustainable growth, and innovation. The partnership will be a force multiplier of KFintech’s vision to become the first global fund administrator from India across all asset classes and all business processes. The partnership aims to deliver innovative and tech-driven solutions for global asset managers with multi-asset, multi-currency, and multi-geography fund administration capabilities. KFintech’s experience of investing in strategic and synergistic assets bodes well to integrate with Ascent and create long-term value for all our stakeholders.”

Mr. Kaushal Mandalia, Co-Founder and Group Executive Chairman, Ascent said, “This acquisition marks a pivotal milestone for our group, strengthening our foundation for long-term success. I am confident that it will empower us to deliver even greater value to our clients, employees, and stakeholders. With this transformation, we are not just expanding, we are redefining fund administration. By building a business that is resilient, technology-driven, and customer-centric, we are positioning ourselves as market leaders. Together, we will unlock new opportunities, enhance our capabilities, and set new industry benchmarks. This is more than growth – it’s a bold step towards shaping the future of fund administration.”

Mr. Jaideep Mukhariya, Co-Founder and Group CEO, Ascent added, “This acquisition marks an exciting new chapter for our group which represents a strategic and transformative step in strengthening our position in the industry. By combining our expertise and resources, we are positioned to better serve our clients, explore new markets, and stay ahead of the curve in an ever-evolving industry landscape. We are confident that this acquisition will enable us to offer enhanced solutions and services to our clients, while continuing to lead the industry in quality and innovation.”

Mr. Samuel Chen, Co-Founder and Group COO, Ascent added, “This acquisition marks a transformative step that will propel our group into a new era of growth, innovation, and customer success. We are incredibly excited about the opportunities ahead and are confident that this acquisition will unlock new possibilities and drive long-term success for our group. Together, we now have an even greater ability to drive innovation, enhance operational efficiencies, invest in cutting-edge technologies and expand our service offerings.”

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Mr. Jayaram’s illustrious career includes a 26-year tenure at the Kotak Group, where he played a key role in establishing and growing multiple business verticals. His notable positions included Managing Director of Kotak Securities Limited and Joint Managing Director of Kotak Mahindra Bank. During his time at Kotak,  Mr. Jayaram was instrumental in heading the Private Banking, Alternative Investments, and international operations, further solidifying his expertise in the financial sector.

Before his tenure at Kotak, Mr. Jayaram gained valuable experience at Overseas Sanmar Financial Limited. Throughout his career, he has been recognized for his strategic acumen and leadership in driving business growth and innovation. Mr. Jayaram’s extensive experience also includes serving as a Director on the Board of the Multi Commodity Exchange of India Limited, AllSec Technologies Limited, and Financial Planning Standards Board India. His contributions to these organizations have been marked by a consistent focus on expanding business operations, enhancing service offerings, and fostering innovation.

Commenting on the appointment, Sreekanth Nadella, Managing Director & Chief Executive Officer, KFin Technologies Limited said, “We are thrilled to welcome Mr. C. Jayaram to our Board. His extensive experience and proven track record in the financial services and capital markets industry will be invaluable as we continue to expand and innovate. Mr. Jayaram’s strategic insights and leadership will undoubtedly propel KFintech to new heights. His deep understanding of the industry and ability to drive business transformation align perfectly with our vision for growth and excellence.”

Commenting on starting this new journey, Mr. C. Jayaram, Independent Director, KFin Technologies Limited said, “I am pleased to join the Board of KFin Technologies Limited at such a dynamic time for the company. KFintech’s rapid growth and commitment to innovation and excellence are truly commendable. I am excited to contribute to the company’s journey as it continues to set new benchmarks in the capital markets ecosystem. I look forward to working with the talented team at KFintech to drive strategic initiatives, enhance our service offerings, and achieve sustained growth.”

Mr. Jayaram holds a Post Graduate Diploma in Management from the Indian Institute of Management, Kolkata, and a Bachelor’s degree in Economics.

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