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General Atlantic-controlled KFin Technologies to buy Singapore’s Ascent Fund Services

VCCircle

VCCircle · 3m ago

General Atlantic-controlled KFin Technologies to buy Singapore’s Ascent Fund Services

KFin Technologies, backed by General Atlantic, plans to acquire Singapore-based Ascent Fund Services. Initially, KFin will purchase a 51% stake for $34.7 million, followed by the remaining stake over five years. A $5 million primary capital infusion and a $29.7 million secondary purchase reflect an enterprise value of $63 million. This acquisition extends KFin’s reach into global fund administration, offering services across multiple jurisdictions, with Ascent managing $24 billion in assets for diverse clients globally.

Related News

KFin Tech Shares Tumble 7% after Multiple Block Deals

OutlookIndia

OutlookIndia · 2m ago

KFin Tech Shares Tumble 7% after Multiple Block Deals

Shares of KFin Technologies fell by 7% after large block deals, with 1.72 crore shares—or 10% of the company's outstanding shares—exchanging hands at an average price of Rs 1,045 per share, totaling nearly Rs 1,800 crore. General Atlantic, a major stakeholder with a 32% holding, reportedly aimed to offload a 6.9% stake at an 8.3% discount. Despite the recent dip, KFin Technologies’ revenue and profits have shown significant growth.

General Atlantic-controlled Rubicon Research inks M&A ahead of IPO

VCCircle

VCCircle · 7m ago

General Atlantic-controlled Rubicon Research inks M&A ahead of IPO

Rubicon Research Ltd, controlled by General Atlantic, is acquiring a manufacturing facility as it prepares for its initial public offering (IPO). The pharmaceutical product developer filed draft IPO documents in July 2024 and recently received regulatory approval.

Struck by Byju’s, General Atlantic’s India ship is in distress. Will it survive?

Livemint

Livemint · 1y ago

Struck by Byju’s, General Atlantic’s India ship is in distress. Will it survive?

Indian edtech startup Byju's is facing challenges as it struggles with bleeding acquisitions, governance issues, and lawsuits filed by investors. General Atlantic, a global private-equity fund with a stake in Byju's, is now in a quandary about investing further. Byju's has launched a rights issue to raise capital from existing investors at a very low valuation, causing concerns for General Atlantic over its stake. Moreover, several other businesses General Atlantic has invested in, including Unacademy, NoBroker, and Rubicon Research, are also facing financial difficulties.

Investors can use MF Central for transmission of a deceased person’s mutual fund investments | Simply Save

Money Control

Money Control · 1y ago

Investors can use MF Central for transmission of a deceased person’s mutual fund investments | Simply Save

Updating nomination for mutual fund investments can be easy if the investment is in the name of a single investor, but for jointly-held investments, physical forms are still required. However, there are discussions on making nomination in jointly-held investments optional, according to Mario Sylvester Roche, COO of Domestic Fund Services at KFin Technologies. While it is technically possible to update nomination online for jointly-held investments, it may not be implemented easily. The transmission of mutual fund units to surviving family members after an investor's demise follows a standardized process, and transmission requests can be made online via MF Central.

General Atlantic set to buy Ujala Cygnus; Endiya Partners plans third fund

VCCircle

VCCircle · 1y ago

General Atlantic set to buy Ujala Cygnus; Endiya Partners plans third fund

Private equity firm General Atlantic is reportedly in talks to acquire a 70% stake in Ujala Cygnus Healthcare Services, a Delhi-based multi-specialty hospital chain. The deal, if finalized, could value the hospital chain at around Rs 1,600 crore. Meanwhile, venture capital firm Endiya Partners is planning to launch its third fund.

Unacademy backer General Atlantic to buy UK's Learning Technologies for $1 bn

VCCircle

VCCircle · 8m ago

Unacademy backer General Atlantic to buy UK's Learning Technologies for $1 bn

Private equity firm General Atlantic has agreed to acquire Learning Technologies Group (LTG) for approximately $1 billion. LTG provides corporate training tools, including mobile apps and training videos. The investment is driven by the growing demand for training programs in large corporations as they adapt to artificial intelligence. General Atlantic aims to support LTG in adapting its products to remain competitive and address the challenges posed by AI and other disruptions. This deal is part of a wave of mergers and acquisitions taking place in the UK.

Investors take a harder look at Indian edtech deals amid Byju’s troubles

Money Control

Money Control · 1y ago

Investors take a harder look at Indian edtech deals amid Byju’s troubles

In 2016, General Atlantic declined an investment in Byju's at a $400 million valuation due to revenue-valuation mismatch. Byju's later flourished, crossing Rs 1,300 crore revenue by FY19. General Atlantic invested in 2018 at $3 billion valuation as Byju's thrived, eventually reaching $22 billion. However, post-Covid, revenue plateaued, causing valuation declines. Byju's also faced governance and financial challenges, including loan defaults and pending fund infusion. Now the heat of Byju's miserable state is faced by new and upcoming ed-tech ventures out of India.

Ascent Capital onboards new LP for $240 mn PE fund

VCCircle

VCCircle · 10m ago

Ascent Capital onboards new LP for $240 mn PE fund

- Ascent Capital secures commitment from a new LP for its latest $240 million PE fund. - The mid-market private equity firm has added a new limited partner (LP) to their portfolio. - Ascent Capital is known for investing in companies like BigBasket, MyGlamm, Fresh2Home, and Acko. - The firm started seeking commitments for the new fund earlier this year. - They aim to raise Rs 2,000 crore ($240 million) for their latest fund.

General Atlantic makes fourth exit move of the year from India portfolio

VCCircle

VCCircle · 1y ago

General Atlantic makes fourth exit move of the year from India portfolio

Private equity firm General Atlantic is planning to monetize another investment from its India portfolio. This move marks the fourth monetization activity by the firm this year. General Atlantic has been active in making both late-stage venture capital and growth equity deals in the Indian healthcare sector. The specific healthcare company that will be monetized has not been disclosed. General Atlantic has previously made successful exits from its Indian investments, indicating a positive track record in the region.

Dubai-based Huda Beauty sells fragrance line KAYALI to co-founder and General Atlantic

VCCircle

VCCircle · 5m ago

Dubai-based Huda Beauty sells fragrance line KAYALI to co-founder and General Atlantic

Huda Beauty, a Dubai-based company founded by Huda, Mona, and Alya Kattan in 2018, has sold its fragrance line KAYALI to co-founder Mona Kattan and General Atlantic. This move allows Huda Beauty to buy back its stake from TSG Consumer Partners, aiming for full founder ownership. KAYALI will become an independent entity with Mona Kattan as CEO. The transaction value remains undisclosed, pending regulatory approval.

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