ASK Investment Managers to acquire portfolio mgmt firm SageOne

Mumbai-based ASK Investment Managers will acquire Pune-headquartered SageOne Investment Managers , a firm focused on portfolio management and alternative investments. The Rainmaker Group acted as the exclusive financial advisor for the transaction. Blackstone, which holds a majority stake in ASK, will remain the majority shareholder of the combined platform.Founded in 2012 by Samit Vartak, SageOne offers portfolio management services and alternative investment funds. Following the acquisition, Vartak will reinvest in ASK and transition into the role of chief investment officer for equities of the combined entity. He will continue to manage the firm’s investment function.The combined business will manage more than INR 85,000-Cr in assets, integrating ASK’s institutional scale and distribution network with SageOne’s investment team.