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ASK Investment Managers ('ASK IM') has entered into definitive agreements to acquire SageOne Investment Managers ('SageOne'), an asset manager operating across portfolio management services (PMS) and alternative investment funds (AIF).
Samit Vartak, Founder and Chief Investment Officer, SageOne Investment Managers, will reinvest into ASK and continue in an expanded role as Chief Investment Officer (Equities) of the combined asset management business. Blackstone will remain the majority shareholder of the platform.
The acquisition strengthens ASK IM's equity investment capabilities and gives SageOne access to ASK's global distribution footprint.
The SageOne Core Portfolio (SCP) has delivered annualised returns of 25.3% from 1 April 2012 to 31 August 2026, compared with 13.8% for the BSE 500 TRI over the same period. Over the last three years, the fund has returned 19.4% annualised, against 12.1% for the BSE 500 TRI. The SageOne team, led by Vartak, will continue to run the investment function with the same approach.
Vartak has 25 years of investment experience across market cycles. He founded SageOne in 2012.
ASK and SageOne together will manage more than INR 850 billion in assets under management.
Sameer Koticha, Founder and Chairman, ASK Group
Sameer Koticha, Founder and Chairman, ASK Group said:
"This is a strong strategic fit for ASK. SageOne has built an impressive investment business based on rigorous research, conviction and disciplined execution. Just as importantly, Samit is an exceptional investor and entrepreneur whose experience and perspective will be valuable across our platform. His appointment as our CIO (equities) will strengthen our investment leadership and help us serve clients with a broader set of high-quality investment solutions. We are very pleased to welcome Samit and the SageOne team to ASK."
Samit Vartak, Founder and Chief Investment Officer, SageOne Investment Managers
Samit Vartak, Founder and Chief Investment Officer, SageOne Investment Managers said:
"This partnership is the right next step for SageOne. ASK gives us the 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. ASK and SageOne share a long-term approach and a strong belief in independent research. I look forward to working with ASK's investment teams and contributing to the next phase of growth across the platform."
Ganesh Mani, Senior Managing Director, Blackstone
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. We welcome Samit, whose expertise will strengthen the ASK leadership team and continue to deliver long-term value for our clients."
The transaction is subject to customary regulatory and investor approvals and the completion of applicable regulatory processes.
The Rainmaker Group acted as the exclusive financial advisor to the transaction.
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