File photo of Ranu Vohra, co-founder, managing director and chief executive of Avendus CapitalMumbai: Financial services firm Avendus Capital on Wednesday said it has agreed to acquire Ocean Dial Asset Management Ltd, a UK-based asset management company that currently manages approximately £450 million in Indian equities across three funds, the company said in a release. Avendus has signed a binding agreement to acquire the company from Raju Shukla, chairman and managing director of Ocean Dial and the management team, the statement said. “Avendus has been consistently making efforts to bolster its asset management businesses and this acquisition is one such step in the journey of growth. The acquisition will help us scale up our public equities presence,” said Ranu Vohra, co-founder, managing director and chief executive of Avendus Capital. In September 2016, Avendus Capital hired the entire top management of Ambit Investment Advisory, including chief executive officer Andrew Holland, managing director Vaibhav Sanghavi and marketing head Bhautik Ambani.

Source: Mint August 09, 2017 10:41 UTC