Avendus to acquire Spark Capital’s institutional equities arm
Premium- Spark’s institutional equities franchise is an 80-member team, catering to over 400 institutional clients over the last 15 years, the company said
MUMBAI : Financial services group Avendus on Monday said that it plans to expand its offerings to include institutional equities and capital markets. It has executed an agreement with Spark Capital to acquire its institutional equities business, subject to all the necessary regulatory approvals.
Spark’s institutional equities franchise is an 80-member team, catering to over 400 institutional clients over the last 15 years. The team, led by Ganeshram Jayaraman, will continue to run the business as before. Avendus will deeply invest behind the business to grow it to become a market leader.
Avendus, known for its investment banking business especially in the technology sector, said that its clients are growing fast and accessing public market capital pools for their growth and to diversify shareholder base. “And it is a natural course of action for Avendus to partner with them in this journey. Avendus will also be significantly investing to build equity capital market capabilities," it said.
“We always want to bring the best to our clients and after careful consideration, we have partnered with Spark’s management team. Their focus on knowledge, excellence, talent and doing the right thing resonates very much with our DNA. With this partnership, we will be significantly enhancing our service offerings to our Investment Banking and Wealth clients," said Gaurav Deepak, Co-founder and CEO, Avendus Capital.
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Avendus, founded in 1999, today has a presence in the areas of investment banking, wealth management, credit asset management. It has offices in 10 cities across India, US, UK and Singapore.
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