InCred Asset Management, part of InCred Capital, has acquired Vishuddha Capital Management to foray into the Indian asset management space.
The financial details of the transaction have not been divulged.
Vishuddha Capital is an equity-focused alternative investment fund (AIF) founded by fund manager Aditya Sood in 2018.
Previously, Sood was the fund manager for ICICI Prudential AMC Portfolio Management Services (PMS). He has 17 years of experience in India and the UK investment industry.
Vishuddha provides its clients with investment management services through an AIF called ‘The India Value and Growth Fund I’.
Vishuddha founder Aditya Sood said: “We are looking forward to joining the broad-based InCred Capital platform which will provide significant synergies for Vishuddha’s business.”
The latest acquisition follows the appointment of Punita Kumar Sinha by InCred to spearhead its asset management unit.
InCred Asset Management will offer investment ideas on equity, debt, and alternatives with an aim to cater to Indian investors’ needs for both onshore and offshore products.
The company will also welcome foreign investors looking to invest in “India growth story”, according to local media reports.
In a statement, InCred Group founder & CEO Bhupinder Singh said: “The acquisition of Vishuddha adds an important element to the wealth and asset management product suite within InCred Capital.
“I have been impressed by Aditya’s passion and vision for the business and I am looking forward to working with him and his team to take this business to new heights.”