KFintech to Acquire 51% Stake in Ascent Fund Services, Marking Strategic Entry into Global Fund Administration Market

Varahi media.com online news,Mumbai, April 19, 2025: KFin Technologies Limited (KFintech), a leading provider of investor and issuer solutions to global asset managers, has announced a definitive agreement to acquire a controlling 51% stake in Ascent Fund Services Pte. Ltd. for USD 34.7 million. The deal, structured with a path to full ownership, includes the remaining 49% stake to be acquired in three equal tranches of 16.33% each at the end of FY28, FY29, and FY30 respectively, subject to regulatory approvals.

Headquartered in Singapore, Ascent is a rapidly growing full-service global fund administrator. The company currently supports 260 alternative asset managers across 18 countries, administering 576 funds with assets under administration totaling USD 24 billion. With a highly experienced leadership team, strong operational capabilities, and a proven client acquisition track record, Ascent brings strategic depth and global scale to KFintech’s expanding portfolio.

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This acquisition marks KFintech’s foray into the global fund administration industry, which commands a revenue pool exceeding USD 12 billion annually. Through Ascent, KFintech will gain immediate access to licenses, a geographically diversified client base, recurring revenue streams, and a seasoned team with deep domain expertise. The combined strengths of Ascent’s service excellence and KFintech’s advanced technology and operational efficiencies are expected to create a robust platform capable of servicing asset managers across the full lifecycle of a fund.

Sreekanth Nadella, Managing Director and CEO of KFintech, said:
“We are thrilled to welcome Ascent into the KFintech family. Ascent’s global footprint, strong client relationships, and experienced team align perfectly with our vision of becoming a global leader in fund administration. This strategic acquisition enables us to offer comprehensive, tech-driven solutions across asset classes, geographies, and currencies. Together, we are poised to deliver exceptional value and innovation to the global asset management community.”

Kaushal Mandalia, Co-Founder and Group Executive Chairman, Ascent, stated:
“This marks a significant milestone in Ascent’s journey. The partnership with KFintech will further strengthen our foundation and accelerate our growth. We’re redefining the future of fund administration — building a business that is resilient, customer-focused, and technologically empowered.”

Jaideep Mukhariya, Co-Founder and Group CEO of Ascent, added:
“This acquisition is a transformative step that will enable us to scale faster, expand into new markets, and enhance our service capabilities. Our clients will benefit from enriched offerings and the combined expertise of two industry leaders.”

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Samuel Chen, Co-Founder and Group COO of Ascent, said:
“Joining forces with KFintech unlocks new dimensions of innovation and growth for our organization. We are excited about the journey ahead and the opportunities this partnership will create for our clients, teams, and stakeholders.”

With this acquisition, KFintech takes a major step forward in its mission to become a global powerhouse in fund administration, while continuing to deliver differentiated value across the financial services ecosystem.

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