The financial services firm Equirus Group will merge its family office business with the Credence Family Office, creating a $2.1 billion wealth management firm amid rising demand for investment products from high-net-worth individuals in India.
The combined entity, called Equirus-Credence Family Office, will have 180 billion rupees of assets under management, Equirus said in a statement Monday.
Equirus will invest a billion rupees in the venture—providing an exit to TIW Private Equity, an investor in Bengaluru-based Credence. The employees of Credence will become part of the Equirus.
Full article – https://www.craincurrency.com/investing/equirus-credence-merge-family-offices-form-21-billion-unit-india