Mumbai: KFin Technologies Limited (KFintech) (BSE: 543720 | NSE: KFINTECH), a provider of investor and issuer solutions, has completed the acquisition of a 51% controlling stake in Ascent Fund Services (Singapore) Pte. Ltd. for USD 34.68 million, positioning itself as the sole promoter of the fast-growing global fund administrator.
Ascent Fund Services, one of the fastest-growing global fund administrators, reported USD 17.5 million in revenue for the financial year ending July 31, 2025, with a robust three-year compound annual growth rate (CAGR) of 33%.
The acquisition marks a major step in KFintech’s global expansion strategy, reinforcing its position as a technology-driven financial infrastructure company.
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KFintech Strengthens Global Presence Through Ascent Fund Services Acquisition
Post-acquisition, the combined global fund administration assets under administration (AUA) of Ascent and KFintech exceed USD 340 billion. The partnership diversifies the group’s operations across asset classes, geographies, and client segments.
Collectively, Ascent and KFintech now operate from over 230 offices in more than 15 countries, employing a global workforce of over 6,700 professionals, including 1,300 technology specialists driving innovation, process optimization, and delivery resilience.
Commenting on the acquisition, Sreekanth Nadella, Managing Director and CEO of KFin Technologies, said: “This acquisition marks a defining step in our evolution into a truly global financial infrastructure company. Ascent Fund Services’ strong international presence complements our technology and operational excellence. The acquisition increases our international business contribution from 5% to over 16%, with a goal to surpass 25% in the near term.”
Kaushal Mandalia, Co-founder and Group Executive Chairman of Ascent Fund Services, added: “This partnership unites shared purpose, trust, and passion – a convergence of technology and domain expertise that will redefine fund administration across global markets. When two organizations align in values and vision, the outcome is not addition but amplification – of opportunities, capabilities, and impact.”
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Jaideep Mukhariya, Co-founder and Group CEO, stated: “This collaboration represents a strategic, transformative step in strengthening our industry position. The integration will enhance our ability to serve clients, expand into new markets, and lead in an increasingly dynamic landscape.”
Samuel Chen, Co-founder and Group COO, noted: “This milestone sets the stage for a new era of growth and customer success. Together, we are better positioned to drive innovation, streamline operations, and develop next-generation technologies.”
The acquisition of Ascent Fund Services marks a pivotal advancement in KFintech’s international growth journey, solidifying its presence across key global financial markets and enhancing its service capabilities for fund administration worldwide.
