Mumbai, April 16 -- Ascent Fund is an independent and one of the fastest growing full-suite global fund administrators, servicing alternative investment funds across 18 countries, with strong domain expertise backed by an experienced management team. Its turnover was $13.32 million in FY24.

The company will acquire a 51% stake in Ascent Fund Services (Singapore) Pte. through a subscription of 763,651 shares and the purchase of 4,533,030 shares from existing shareholders, for a total consideration of $34.68 million. The transaction is expected to be completed within 3-4 months.

Additionally, the company will acquire the remaining 49% stake in three equal tranches of 16.33% each over the next five years. The said transaction will be compl...