Kfin Technologies completes $34.68 million acquisition of 51% stake in Ascent Fund Services

Financial services platform KFin Technologies Ltd (KFintech) on Monday (October 13) said it has completed its $34.68 million investment to acquire a 51% controlling stake in Ascent Fund Services (Singapore) Pte. Ltd (Ascent), becoming its sole promoter.

Ascent, one of the fastest-growing global fund administrators, has grown at a 3-year CAGR of 33%, with revenue of $17.5 million for the financial year ending July 31, 2025. The firm operates across 18 geographies, manages over $26 billion in assets under administration (AUA), and serves more than 640 global alternative investment funds as of July 31, 2025.

The acquisition marks a significant step in KFintech’s expansion into the global fund administration industry, supporting its vision to build a scalable, India-origin financial infrastructure entity backed by technology-driven solutions, domain expertise, and delivery excellence for global asset managers.

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With the addition of Ascent, KFintech’s global fund administration AUA has grown to approximately $340 billion as of September 30, 2025. The deal also broadens KFintech’s revenue mix, geographic presence, and capabilities across private and public market asset classes, including pensions and digital assets.

Ascent brings a cross-border team of over 250 experienced domain experts to KFintech, strengthening client acquisition, product development, and delivery capabilities for servicing global asset managers.

The transaction provides KFintech an immediate 51% holding in Ascent via its Singapore arm, with the balance 49% scheduled to be acquired in three equal tranches after the end of fiscal years 2028, 2029, and 2030, linked to defined EBITDA milestones. The investment is fully funded through internal accruals, reflecting a disciplined capital allocation strategy with no impact on dividend policy or debt position.

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Sreekanth Nadella, Managing Director and CEO, KFin Technologies, said, "The completion of this acquisition marks a defining step in KFintech's evolution into a truly global financial infrastructure company. Ascent’s deep international footprint and strong domain expertise perfectly complement our strengths in technology, product innovation and operational excellence.

The acquisition elevates the proportion of our international business in the overall revenue from the current 5% to over 16%. The combined entity targets a significant addressable market across 18 geographies, driving the share of international business revenues to cross 25%+ of overall KFintech's book in the near term."

Shares of Kfin Technologies Ltd ended at ₹1,148.50, up by ₹76.00, or 7.09%, on the BSE.

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