Credent Asset Management acquires 49 per cent stake in Essel Finance

Credent Asset Management acquires 49 per cent stake in Essel Finance

Dec 07, 2022

Mumbai (Maharashtra) [India], December 7 (ANI/Vicara PR): Credent Asset Management Services Pvt Ltd, an associate of Oracle Credit Limited, today announced that it has completed the acquisition of 49 per cent stake of Essel Finance Advisors and Managers LLP (EFAM). The acquisition is part of 100 per cent takeover plan post SEBI approval for change in control. EFAM was promoted by Essel Group in 2012, is engaged in the business of investment management of Alternative Investment Funds and currently manages two CAT II AIF with an AUM of over Rs 200 Crores. Through this strategic acquisition, Credent Asset Management aims to further expand its presence in Alternative Investment spaces as one of the fastest growing Financial Services entities in India.
Speaking on this development, Mt. Aditya Vikram Kanoria, Managing Director of Credent Group said, "Our focus is to fast track our expansion plans and this acquisition is a part of the larger business vision and strategy. We are in the process of launching three new Alternative Investment Funds (AIF) to raise over INR 500 crores. EFAM has built a robust investment management platform with a strong ecosystem and client base of UHNIs, Corporates and Family offices and we intend to leverage this platform to grown close our asset management business."
The three new alternative investment funds that Credent plans to launch would be - 'Credent Special Situation Fund' and 'Credent Estate Multiplier Fund' and Invicto Incrementum Fund. The Special Situation fund, a CAT II AIF, will be largely focussed on emerging corporates plans to take next leap of growth and create a market differentiator. The Estate Multiplier fund, a CAT II AIF, will be partnering with realtors for development of mid-income housing in demand oriented micro-markets of metros. Invicto Incrementum Fund, a CAT III AIF, will be focused on long only strategy in the listed space.
Aditya further added, "Credent has always believed in offering a diversified asset class to our investors for them to have a balanced portfolio. With India's GDP growing at a rapid pace, we believe this is the ideal time for us to launch these funds to give another opportunity to our local & global investors to invest in India's growth story. This would also enable us to grow our AUM to over Rs. 1000 crores within the next 12 months."
Credent Group in a full-scale financial services entity having diverse presence in Wholesale Lending, Asset Management, Investment Banking and Real Estate Advisory. The Group caters to its local and global investors from its offices in Mumbai and London.
Founded in 2017, Credent Global Finance (CGF) is a BSE listed, SEBI registered & RBI regulated NBFC, providing end-to-end financial services. The company offers diversified financial services that provides a broad range of financial products and services, catering to corporates, institutions and individuals. CGF provides strategic advisory to its investors with in-depth knowledge and solid financial strategy to make the best investment choices for a thriving portfolio across diversified services like Asset Management, Investment Banking, NBFC and Real Estate.
Credent Global in numbers:
* Joint experience of over 150+ years in the financial services sector
* Transactions to the tune of INR 2,000 cr + executed so far
* 500 + UHNI & Family offices as trusted clientele across the world
* AUM of INR 200 crores
* Launched 4 Alternative Investment Funds
* Invested over INR 400 million across 46 businesses
* Investments of over INR 5 billion in Real Estate across 13 leading developers
* Generated an ROI of 250%+ through its PMS vertical
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