M&A
Credent acquires 49% in AIF manager Essel Finance Advisors; to increase stake to 100%
Credent Asset Management Services, an associate of Oracle Credit Ltd, has completed the acquisition of a 49% stake in Essel Finance Advisors and Managers LLP (EFAM). The acquisition is part of a 100% takeover plan post SEBI approval for change in control. EFAM, promoted by Essel Group in 2012, is engaged in the business of management of Alternative Investment Funds. It currently manages two CAT II AIFs with an AUM of over INR 200 crore.
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