#India #Mumbai #Fund Administration #KFin Technologies #Ascent Fund Services

KFin Technologies Expands Global Footprint with Strategic Acquisition of Ascent Fund Services

On October 17, 2025, KFin Technologies Limited, a leader in providing investor and issuer solutions, announced a significant move in the financial services sector by acquiring a 51% controlling stake in Ascent Fund Services (Singapore) Pte. Ltd. for approximately USD 34.68 million. This acquisition positions KFintech as the sole promoter of Ascent, paving the way for enhanced operations in the global fund administration industry.

Ascent has emerged as one of the fastest-growing global fund administrators, recording impressive revenue figures of USD 17.5 million for the financial year ending July 31, 2025. With a three-year compound annual growth rate (CAGR) of 33%, it reflects the increasing demand for efficient fund administration solutions worldwide.

Combined, KFintech and Ascent boast a remarkable global fund administration Assets Under Administration (AUA) of over USD 340 billion, a substantial indicator of their growing market impact. The partnership comes at a time when financial institutions are increasingly relying on technology-driven solutions to enhance operational efficiencies and client service delivery.

According to Mr. Sreekanth Nadella, Managing Director and CEO of KFin Technologies, this acquisition signifies a pivotal moment in the evolution of KFintech into a true global financial infrastructure company. He stated, “Ascent’s strong international presence complements our technology and operational excellence. The acquisition elevates our international business contribution from a modest 5% to over 16%, with aspirations to exceed 25% in the near future.”

In addition to bolstering its revenue, the partnership with Ascent enhances KFintech's diversification across various asset classes, geographies, and client segments. The merger has resulted in the establishment of over 230 offices in more than 15 countries globally and a substantial workforce of over 6,700 employees, including more than 1,300 technology experts committed to driving innovation and process optimization across markets.

Mr. Kaushal Mandalia, Co-founder and Group Executive Chairman of Ascent Fund Services, expressed enthusiasm for the partnership, citing that it connects shared values, trust, and a mutual commitment to excellence. He remarked, “This partnership will redefine fund administration across global markets. It showcases our belief that when two great organizations align in values and vision, the outcome transcends mere addition; it amplifies opportunities, capabilities, and impact.”

In line with this vision, Mr. Jaideep Mukhariya, Co-founder and Group CEO of Ascent, emphasized the strategic significance of this collaboration, stating, “The integration fortifies our capabilities to serve clients better, facilitate expansion into new markets, and lead in an increasingly competitive landscape.”

The acquisition is seen as a transformative step for both companies, positioning them to respond adeptly to evolving market conditions and increasing competition. Mr. Samuel Chen, Co-founder and Group COO, highlighted that this milestone paves the way for growth, innovation, and success in customer service, stating, “Together, we stand as a greater force in the market, better equipped to accelerate innovation and develop cutting-edge technologies.”

In summary, the acquisition of Ascent Fund Services by KFin Technologies marks a significant development in the financial services industry, with the potential to reshape the landscape of fund administration. As both companies harness their strengths and synergies, they are poised to set new benchmarks for excellence and serve clients more effectively in an increasingly complex global marketplace.