New Delhi, Sept. 30 -- Financial services firm ASK Investment Managers has agreed to acquire SageOne Investment Managers, an asset manager operating across portfolio management services (PMS) and alternative investment funds (AIFs), the companies said in a statement.
The financial details of the transaction were not disclosed.
SageOne founder and chief investment officer Samit Vartak will continue in an expanded role as chief investment officer (equities) of the combined asset management business.
The companies said the acquisition will strengthen ASK Investment Managers' equity investment capabilities and provide SageOne access to the former's global distribution footprint. Blackstone will remain the majority shareholder of the platform.
The combined platform will have more than Rs 850 billion in assets under management, along with a pool of investment talent, pan-India distribution and a global institutional network.
SageOne said it has built a differentiated performance track record through a disciplined, high-conviction investment approach.
"This is a strong strategic fit for ASK. SageOne has built an impressive investment business based on rigorous research, conviction and disciplined execution. His (Vartak's) appointment as our CIO (equities) will strengthen our investment leadership and help us serve clients with a broader set of high-quality investment solutions," said Sameer Koticha, founder and chairman, ASK Group.
SageOne's Vartak said, "ASK gives us scale and institutional support without changing the philosophy and discipline that define how we invest. We also see significant value in being part of the broader Blackstone ecosystem, with access to its global perspectives, institutional capabilities and the ability to attract and nurture exceptional investment talent. Our ambition is to build one of the strongest investment teams improving our ability to deliver alpha for the clients."
Speaking on the same, Ganesh Mani, senior managing director, Blackstone, said, "We are bullish on the long-term compounding value of Indian asset and wealth management businesses and continue to invest in ASK's growth. We believe that SageOne is the right addition to the ASK platform and solidifies ASK's equities asset management business."
ASK Group operates across portfolio management, alternative investment funds, real estate private equity, wealth management, hedge solutions, non-banking financial services, private credit, and international investments.
It has more than 20 offices and branches across India, Dubai, and Singapore and caters to multiple asset classes and investor categories, including HNIs, institutional investors, family offices, pension funds, funds-of-funds and sovereign wealth funds, across Asia, the Middle East, Africa, and Europe.
ASK Asset & Wealth Management Group managed over Rs 770 billion in assets as of March 31, 2026. ASK is majority-owned by Blackstone.
Published by HT Digital Content Services with permission from VC Circle.