Monetary companies agency Equirus will merge its household workplace enterprise with Credence Household Workplace in a ₹100 crore deal and supply exit to TIW Non-public Fairness from the latter. Accordingly, Credence Household Workplace will take over Equirus Wealth’s Household Workplace and shall be branded as Equirus-Credence Household Workplace. TIW had invested in Credence Household Workplace six years again.
Equirus Group, backed by Jhunjhunwala household, Federal Financial institution and Amicus PE fund, mentioned Mitesh Shah, founder and CEO of Credence Household Workplace, will be a part of its management group, additional strengthening the agency’s experience within the ultra-high-net-worth and household workplace segments.
The transaction will even enable Credence Household Workplace to capitalise on Equirus’ in depth platform capabilities throughout funding banking, analysis, debt capital markets and fund administration, making a seamless ecosystem to serve shoppers with best-in-class options. With this addition, the entire wealth belongings underneath Equirus Group will develop to ₹18,000 crore.
Mitesh Shah, Founder & CEO of Credence Household Workplace, who spoke warmly in regards to the acquisition, mentioned, “This partnership with Equirus Wealth marks an thrilling new chapter for Credence Household Workplace. Through the years, we’ve been lucky to earn the belief of households who’ve entrusted us with their aspirations, and we’ve labored tirelessly to assist them thrive. Becoming a member of Equirus Wealth permits us to take that dedication to the subsequent degree. By combining their scale and imaginative and prescient with our personalised strategy, we are able to provide our shoppers even larger alternatives and assist. For our workforce and our shoppers, this isn’t simply an acquisition — it’s the start of one thing greater and higher.”
