M&A

M&A

KFin Technologies acquires majority stake in Ascent Fund Services for $35-M

Press Release  

Publicly listed, Mumbai-based KFin Technologies has acquired a 51% controlling stake in Singapore-based fund administration services firm Ascent Fund Services for USD 34.68 million. KFintech plans to acquire the remaining 49% stake in Ascent in three equal tranches after fiscal years 2028, 2029, and 2030, contingent on EBITDA milestones.Ascent Fund Services reported revenues of USD 17.5 million for the fiscal year ending July 2025 and has witnessed a 3-year CAGR of 33%. It manages assets under administration totaling USD 26 billion across 18 geographies, serving over 640 alternative investment funds. The acquisition was funded entirely through KFintech’s internal accruals.This acquisition expands KFintech’s global fund administration assets to approximately USD 340 billion as of September 2025, and increases the proportion of international business in KFintech’s overall revenue from 5% to over 16%. The transaction integrates over 250 domain experts into the KFintech group, which now operates from more than 230 offices across 15 countries with over 6,700 employees.