TA Associates Buys Stake In Mutual Fund Distributor Prudent Corporate Advisory Services TA Associates Advisory Private Limited has bought a significant minority stake in Ahmedabad-based independent mutual funds distributor Prudent Corporate Advisory Services Ltd, the US-based private equity investor said in a statement. Sanjay Shah, Prudent Founder and Managing Director, said that the Ahmedabad-based distributor will utilize the investment made by TA Associates to scale their business and extend their presence in various other states and in unused markets. “TA’s investment is a critical milestone for Prudent as we embark on our next phase of growth and seek to deepen our presence across multiple states and untapped markets,” said Shah, reported News Corp VCCiRCLE. However, the financial details of the deal between Prudent and TA Associates have not been disclosed in Shah’s statement. Dhiraj Poddar, India Head at TA Associates, will soon join the Prudent’s board of directors, according to the source. According to Poddar, Indian asset management segment will see a substantial long-term growth owing to increasing investor awareness and mutual fund penetration. He said that a considerable amount of time and resources must be spent in “tracking the Indian asset management, distribution and allied services space,” due to this trend. He also said that Prudent Corporate believes that it is well-placed to capitalise on this huge and growing marketplace and can offer prominent profits to India’s developing wealth management sector. Boston-based TA Associates concentrates on offering late-stage growth capital to firms in financial services, technology, consumer and business services, and healthcare sectors. The company may have invested about 650-700 million dollars across 12 companies in India, over a 12-year period, according to News Corp VCCircle. TA Associates’ speed of investments has lifted up over the previous three years. Prudent provides personal and corporate investment planning services through distribution of mutual funds in a deal worth 40 million $, and other wealth products in India. The Ahmedabad-based distributor company with 70 branches across 19 states, operates through its network including about 10,000 financial advisers. The company holds an AUM (assets under management) of over 18,000 crore Rupees. Prudent Corporate also distributes other wealth products, such as, bonds, broking and insurance services, reported The Economic Times. The post TA Associates Buys Stake In Mutual Fund Distributor Prudent Corporate Advisory Services appeared first on OWLT Market.

TA Associates Advisory Private Limited has bought a significant minority stake in Ahmedabad-based independent mutual funds distributor Prudent Corporate Advisory Services Ltd, the US-based private equity investor said in a statement.

Sanjay Shah, Prudent Founder and Managing Director, said that the Ahmedabad-based distributor will utilize the investment made by TA Associates to scale their business and extend their presence in various other states and in unused markets.

“TA’s investment is a critical milestone for Prudent as we embark on our next phase of growth and seek to deepen our presence across multiple states and untapped markets,” said Shah, reported News Corp VCCiRCLE.

However, the financial details of the deal between Prudent and TA Associates have not been disclosed in Shah’s statement.

Dhiraj Poddar, India Head at TA Associates, will soon join the Prudent’s board of directors, according to the source.

According to Poddar, Indian asset management segment will see a substantial long-term growth owing to increasing investor awareness and mutual fund penetration.

He said that a considerable amount of time and resources must be spent in “tracking the Indian asset management, distribution and allied services space,” due to this trend.

He also said that Prudent Corporate believes that it is well-placed to capitalise on this huge and growing marketplace and can offer prominent profits to India’s developing wealth management sector.

Boston-based TA Associates concentrates on offering late-stage growth capital to firms in financial services, technology, consumer and business services, and healthcare sectors.

The company may have invested about 650-700 million dollars across 12 companies in India, over a 12-year period, according to News Corp VCCircle. TA Associates’ speed of investments has lifted up over the previous three years.

Prudent provides personal and corporate investment planning services through distribution of mutual funds in a deal worth 40 million $, and other wealth products in India.

The Ahmedabad-based distributor company with 70 branches across 19 states, operates through its network including about 10,000 financial advisers. The company holds an AUM (assets under management) of over 18,000 crore Rupees.

Prudent Corporate also distributes other wealth products, such as, bonds, broking and insurance services, reported The Economic Times.

The post TA Associates Buys Stake In Mutual Fund Distributor Prudent Corporate Advisory Services appeared first on OWLT Market.

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