Key Highlights
- KFin Technologies completes USD 35 million acquisition of 51% controlling stake in Ascent Fund Services
- The deal marks KFintech’s entry into the global fund administration industry
- Ascent manages over USD 26 billion in assets under administration across 18 countries
- Acquisition expands KFintech’s total global AUA to approximately USD 340 billion
- International business share in revenue expected to rise from 5% to over 16%
- Ascent’s 250-member global team to integrate with KFintech, strengthening delivery and innovation capabilities
KFin Technologies Limited (KFintech), a leading financial technology solutions provider, announced the completion of its USD 34.68 million investment to acquire a 51% controlling stake in Ascent Fund Services (Singapore) Pte. Ltd. This strategic acquisition marks KFintech’s entry into the global fund administration industry, positioning it as a key player in international asset management services.
Ascent Fund Services, one of the fastest-growing global fund administrators, reported a three-year CAGR of 33% with annual revenue of USD 17.5 million for the financial year ending July 31, 2025. The company oversees more than USD 26 billion in assets under administration (AUA) and serves over 640 alternative investment funds across 18 countries.
Following the acquisition, KFintech’s total global AUA has grown to approximately USD 340 billion as of September 30, 2025. This expansion enhances its geographical diversification, strengthens its international market presence, and widens its service offerings across private and public asset classes, including pensions and digital assets. The integration will also bring Ascent’s 250 professionals into the KFintech Group, expanding its talent pool and global delivery capabilities.
The acquisition, executed through KFintech’s Singapore subsidiary, grants the company an immediate 51% stake in Ascent, with the remaining 49% scheduled for acquisition in three tranches between fiscal years 2028 and 2030, subject to defined EBITDA milestones. The transaction was fully funded through internal accruals, reflecting KFintech’s prudent capital allocation strategy without impacting its debt position or dividend policy.
Commenting on the development, Sreekanth Nadella, Managing Director and CEO of KFin Technologies, stated that the acquisition marks a major milestone in the company’s transformation into a global financial infrastructure firm. He noted that the proportion of international business revenue is expected to rise from 5% to over 16%, with ambitions to surpass 25% in the near future.
Ascent’s Co-founder and Group Executive Chairman, Kaushal Mandalia, emphasized that the acquisition represents more than a transaction, describing it as a convergence of shared purpose, trust, and expertise aimed at redefining fund administration worldwide. He highlighted that the partnership would amplify innovation and client service capabilities globally.
Co-founder and Group CEO, Jaideep Mukhariya, said the integration strengthens Ascent’s market position and enables it to deliver enhanced services and innovative solutions, while Co-founder and Group COO, Samuel Chen, expressed optimism about the growth potential and synergies from the partnership.